Planner Securities x New Range
Discover how this broker-dealer partnered with New Range to place repetitive reporting tasks on autopilot and establish a single source of truth for trading compliance.
“New Range's CAT and CAIS reporting puts us in the driver's seat. Now that we're not relying solely on third-party services, error triage is faster, compliance reports are more accurate, and we're saving so much time.”
Leonardo Figueiredo — CEO, Planner Securities
About
Planner Securities is a New York-based broker-dealer operating as an online investment firm where traders across the globe can open accounts and access the U.S. stock market. As a member of FINRA and SIPC, Planner Securities offers a full range of investment options, including U.S. exchange‑listed stocks, options, and ETFs, as well as mutual funds, bonds, structured products, and treasuries.
Challenge
Fragmented and manual reporting workflows bottlenecked FINRA obligations
When Leonardo Figueiredo stepped in as CEO of Planner Securities, he had a strong fiduciary reputation to protect and a healthy roster of clients to expand. However, he quickly realized that the broker-dealer's existing CAT and CAIS workflows were no longer equipped to meet today's complex and ever-changing compliance requirements.
At the time, Leonardo relied heavily on manual CAT reporting to meet daily FINRA obligations. Every night after the trading desks closed, he would pull the day's order and trade data, upload the order-event file to the CAT Reporter Portal, and reconcile submissions against his clearing firm's records to correct any discrepancies. Not only was this a tedious endeavor, but it also drained bandwidth that could be allocated to Planner Securities' growth strategy.
CAIS reporting presented an even greater barrier. The clearing firm's reporting system couldn't reliably match customer and account data to the underlying trades, increasing the risk of regulatory scrutiny, ongoing error resolution, and costly fines. Because the clearing firm handled most of the process internally, Leonardo had no way to investigate the underlying causes of errors or strengthen controls to prevent future breaks.
During his search for a solution, Leonardo discovered New Range through a LinkedIn post shared by their Co-Founder & CEO, Breanna Phillips. After witnessing how the platform could streamline the very functions that had been bottlenecking his firm, Leonardo knew he had found the ideal partner.
“Our existing CAT and CAIS reporting processes slowed operations and introduced the very real risk of human error. With New Range, we effortlessly manage compliance while safeguarding our reputation.”
Solution
Placing CAT and CAIS on autopilot with a comprehensive compliance platform
With New Range, Planner Securities established a powerful compliance foundation, complete with streamlined CAT and CAIS reporting and an on-call team of external experts. After a bespoke but seamless onboarding, Leonardo saw instant efficiency gains.
Leonardo no longer has to submit CAT files manually — New Range does it for him, sending a notification email with each daily submission. Because the New Range dashboard offers a 360-degree view of all CAT events, Leonardo can zero in on discrepancies between his records and his clearing firm's and coordinate corrections well ahead of the FINRA cutoff.
New Range also overhauled Leonardo's approach to CAIS reporting. By integrating with the clearing firm's CAIS data feeds, New Range delivered a detailed breakdown of what was causing errors across each account — then sat down with the clearing firm to drive the necessary system updates. The result: CAIS reports that are consistently within FINRA's error thresholds.
On the rare occasions when errors occur, Leonardo is ready to address them at their root. “New Range's paper trails are a game-changer,” he explains. “Rather than relying on someone else's black-box processes, I have full ownership over my fiduciary obligations.”
“New Range delivers a lot of measurable, downstream value. But the fact that it saves me from uploading CAT submissions every night is priceless.”
Results
Regulatory confidence, supercharged visibility, and a clear pathway to growth
New Range empowered Planner Securities to transform CAT and CAIS reporting from a chronic, manual burden into a scalable, self-sustaining workflow. Now, Leonardo focuses on growing the broker-dealer while remaining FINRA compliant at every step.
Leonardo is already collaborating with the New Range team on several new projects geared at eliminating reporting errors across the board. As Planner Securities continues to scale, he's confident New Range will remain the single command center for all compliance activities.
“New Range ships product updates at lightning speed. With all the new tools they're building, I can easily imagine a future of zero compliance reporting errors.”