The financial advisors’ association Advocis has partnered with LOGiQ³ to deliver courses for deposit brokers.

Under the terms of the agreement, which was announced June 5, Advocis will be the sole distributor of the Deposit Broker Annual Compliance Attestation (ACA) and the Deposit Broker Anti-Money Laundering (AML) courses. LOGiQ³ says that these are two of the three components of the A3 Solution it has developed in an effort to increase standards and reduce risks for deposit brokers.

President and CEO of Advocis Greg Pollock noted that he had already been working closely with LOGiQ³ through its subsidiary APEXA, which offers advisor screening, contracting, and compliance services to insurers and MGAs. “I’m excited by our partnership and impressed by the initiative taken to develop this industry solution,” said Pollock.

“Today, financial institutions are solely responsible for effectively managing their contracted deposit brokers to ensure they are meeting regulatory requirements and contractual obligations. Similar to APEXA, we created the A3 Solution to lessen risk exposure,” said Chris Murumets, Co-Founder of LOGiQ³. “Through our partnership with Advocis and in leveraging their well-developed relationships with financial advisors and planners, the ACA and AML solutions will reach the masses.”