ACG_logo2A High Growth Financial Services Company Moves their Digital Assets to Sharefile for 17a-4 Compliance


“There are thousands of broker-dealers who need a solution like this.”
– Accelerated Capital Group

Meet Accelerated Capital Group: Digitized Broker-Dealer

The team at Accelerated Capital Group (ACG) is doing something that few people have the capacity to do. They are growing a business.

ACG started with only two people, but today the independent broker-dealer employs 35 and is well on its way to being a 75-person company, providing financial advice to clients in the Southwestern U.S.

ACG has flourished at the same time as the cloud computing ecosystem, and because of that they never needed to put in place a dedicated IT function or server infrastructure. Representatives work off their appropriate electronic devices, and the cloud provides some of the back-end services they need – including digital storage that is compliant with SEC Rule 17a-4 for long-term, nonmodifiable, nonerasable data archives.

ACG had trusted their data to Nasdaq’s FinQloud, but it was announced in 2014 that FinQloud would be shutting down. The team needed to move their long-term archive to a new platform. They discovered Citrix ShareFile – also 17a-4 compliant – and decided to migrate all of ACG’s archived data to Sharefile. Citrix ShareFile also boosted ACG’s security posture through secure file storage and email encryption services.

 CLOUD COMPLIANCE                                                                                                                                                              The SEC requires that broker-dealers preserve electronic records exclusively in a non-rewriteable and non-erasable format. SEC rules 17a-3 and 17a-4 require:

  • Written, enforceable retention policies
  • A searchable index of all data stored
  • Viewable and readily retrievable data
  • Offsite storage of data
  • Storage of data on write-once, read-many optical media

Cloud FastPath: Simple Cloud MigrationMoving Clouds for the Sake of Compliance Photo

To make ACG’s migration easy, Citrix brought in Cloud FastPath  – a simple, fast, and secure way to move data into ShareFile. Cloud FastPath completely automated the process of moving ACG’s archive from FinQloud into ShareFile. In addition to avoid the security issues with FTP, Cloud FastPath was up to 50 times faster than sync tools or FTP. Most importantly, it preserved the integrity of the archived data as it was transferred directly between cloud systems.

Cloud FastPath makes the migration process extremely simple. The Cloud FastPath web service is configured to talk directly to both the source and destination repositories – in this case, FinQloud and ShareFile. Point to the appropriate files, folders or directories, and Cloud FastPath moves them automatically between systems, preserving the entire structure of the file system. Cloud FastPath can also connect to local systems through a simple, downloadable software agent.

How Cloud FastPath Migrated ACG’s Data to Sharefile 

Cloud FastPath is designed to be easy, making migrations to the cloud a breeze. After creating an account on the Cloud FastPath website, ACG followed a few simple steps:

1. Connect to FinQloud accounts.
Pre-configured settings for popular services make it simple to connect to multiple FinQloud accounts.

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2. Connect to ShareFile.
Next, select your destination service. In this case, you can log into your Citrix ShareFile account.

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3. Select the files and schedule the migration.
No data chunking, no moving everything to a single directory first – Cloud FastPath takes the data in its current form from where it resides today.

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4. Sync, monitor and report.
Cloud FastPath handles everything, no matter where it sits or what errors are encountered along the way. Sync features allow for easy error retry and delta capture.

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Cloud FastPath Made A Tough Situation Easy 

Sometimes circumstances force you to change, and for ACG that change was triggered when Nasdaq shut down its FinQloud service. There are very few 17a-4 compliant cloud storage services out there, and fewer still that are high quality at a fair price. Fortunately ACG was able to find an alternative in Citrix ShareFile.

ACG’s migration was conducted efficiently and affordably, with no disruption to the ongoing business operation. Cloud FastPath made ACG’s transition to ShareFile simple, fast and secure.