Trust Accounting FAQs | AI Automation for TPAs

General Information

It’s an AI-powered workflow that automates data extraction, reconciliation, and reporting, reducing manual tasks, improving accuracy, and streamlining trust accounting for TPAs.
The Trust Accounting workflow typically saves 3–8 hours per plan annually, especially for self-directed brokerage accounts. This time savings results from automating data extraction, reducing errors, and streamlining reconciliation.
By automating data extraction from scanned or digital statements, the workflow eliminates manual entry and errors, generating real-time, participant-level reports for faster and more accurate trust accounting.

The workflow processes both digital and scanned statements from providers like Charles Schwab, Fidelity, Merrill Lynch, and Wells Fargo Advisors, adapting to different formats for accurate data extraction.
Yes, it handles both. Scanned documents can be uploaded or emailed, while digital files can be dragged and dropped into the portal.
Our AI adapts to most format changes. If a change causes issues, the workflow flags the statement for review, and the support team ensures accurate processing.
The workflow is highly scalable, processing large volumes of statements across multiple clients and plans, with the capacity to handle millions of pages per day.
Yes, it extracts data such as balances, contributions, and transactions, populating reconciliation spreadsheets directly.
It accurately extracts and categorizes data from complex statements with multiple accounts or transactions, ensuring all relevant information is captured.

Yes, Stax·ai is SOC 2 Type II compliant, adhering to strict data protection, privacy, and confidentiality standards. End-to-end encryption is used for data in transit and at rest, with secure backups and robust access controls to protect sensitive information.
If discrepancies arise, the workflow flags the document for review. The team then verifies and corrects any issues before final processing.

Yes, it integrates with systems like SharePoint, Dropbox, and Box.com, mirroring your existing file structure and saving processed files into preferred directories.
Yes, it allows for custom folder structures, ensuring files are organized according to your operational needs.
Absolutely. The workflow can be configured to meet specific regulatory and compliance requirements for document retention and storage, ensuring alignment with industry standards.
We provide a structured onboarding process that includes setup, integration, and comprehensive training. Onboarding typically takes 2–6 weeks, with detailed team training to ensure a smooth transition.

Clients often experience significant cost and time savings due to the workflow’s automation. By reducing manual data entry and reconciliation, Stax·ai enhances efficiency and accuracy, delivering a positive ROI.
Yes, the workflow is scalable and can manage hundreds or thousands of plans and participants, maintaining efficiency regardless of client size.

It generates detailed reports for each participant, including account balances, transactions, and fees. Reports are customizable and available in .xlsx, .csv, or .pdf formats.
Yes, if the statement provides this information, the workflow accurately extracts and classifies pre-tax and post-tax contributions. The Investments Dashboard also allows users to manually break down contributions as needed.

The platform’s dashboard includes an advanced search bar that allows you to quickly find the data you need. You can search by keywords, account names, transactions, or other details, using Stax·ai’s text recognition technology to efficiently locate specific information.
We offer dedicated customer support, including troubleshooting and ongoing assistance. Users also have access to a Help Center and live chat, along with an uptime and support Service Level Agreement (SLA).
In rare cases where a statement format is unsupported, the workflow flags the issue, and our team works with you to train the system to process the new format.