Independent Book of Record
Your single source of truth for portfolio data. Maintain complete control over your investment records with VIRTLIO's comprehensive IBOR solution.
What is an Independent Book of Record?
An Independent Book of Record (IBOR) represents all the records that constitute a portfolio — serving as the single authoritative source for account, security, and transactional data within your firm.
Unlike relying solely on custodian-provided data (the Custody Book of Record or CBOR), an IBOR gives investment advisors complete control and ownership over their portfolio data. This independence is critical for accurate reporting, compliance, and operational efficiency.
Key Principle: Your IBOR should be continuously reconciled against custodian records to ensure accuracy while maintaining your independence from any single data source.
Why IBOR Matters
An independent book of record is essential for modern wealth management operations.
Risk Mitigation
Detect discrepancies between your records and custodian data before they become costly problems.
Investor Protection
Maintain accurate, verifiable holdings records that protect both your clients and your firm.
Regulatory Compliance
Meet regulatory requirements for reconciliation, documentation, and client reporting accuracy.
Transparency & Accountability
Provide clear audit trails and accountability across all stakeholders in the investment process.
Operational Efficiency
Streamline operations with automated reconciliation and exception-based workflows.
Regulatory Requirements
Regulatory bodies increasingly require investment advisors to maintain robust reconciliation processes. Key requirements typically include:
Reconciliation Processes: Implement systematic reconciliation between internal records and custodian data.
Written Policies: Maintain documented policies and procedures for data management and reconciliation.
Balance Documentation: Document both reconciled and unreconciled balances with clear exception tracking.
Timely Reviews: Conduct regular, timely reviews of reconciliation results and exception resolution.
VIRTLIO's IBOR Capabilities
Our platform provides comprehensive tools for building and maintaining your independent book of record.
Independent Record Construction
Build and maintain your own authoritative source of portfolio data with full control over your records.
Comprehensive Reconciliation
Automated reconciliation against custodian books with detailed exception reporting and resolution tracking.
Flexible Account Hierarchies
Organize accounts by household, strategy, sleeve, or any custom hierarchy that fits your practice.
Multi-Source Data Integration
Aggregate data from multiple custodians, data providers, and internal systems into a single unified view.
Audit Trail & Documentation
Complete transaction history and change logs for compliance, audits, and regulatory inquiries.
Real-Time Position Tracking
Intraday position updates and pending transaction visibility for accurate, timely decision-making.
Take Control of Your Portfolio Data
See how VIRTLIO can help you build and maintain a robust independent book of record for your practice.