Author: Tina Madel

Driving Strategic Transformation for Wealth Management Firms: A Framework for Technology Vendor Selection

Like many industries, wealth management is undergoing a change. Demographic and generational shifts in wealth will continue to reshape services and enhance the digital experience . In a survey of 120 wealth managers, 87% reported that they have made significant investments in technology over the past several years. Tech transformations within large wealth management firms are often achieved through integrations of vendor platforms with proprietary applications, as stakeholder needs are particularly diverse. A single platform solution may solve for a set number of stakeholders, but firms with various client types require multiple solutions that integrate seamlessly. Deciding on the best technology partners requires a proven, structured approach to technology evaluation.

by Tina Madel, CFA, Senior Manager
Jose Michaelraj, CIPM, CAIA, Manager
Josh Gerwick, CFA, CIPM, Consultant

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Demystifying Sleeve-Level Reporting: Creating Operational Efficiencies While Satisfying Demand for Accuracy and Transparency

Today, many wealth management firms seek to find the right balance between meeting client needs and achieving scalability. Using model portfolios and technology to efficiently implement trade decisions across an entire book of business optimizes the operating model. However, this approach may cause significant hurdles when it comes to client reporting and Global Investment Performance Standards (GIPS®) composite reporting. This article dives into the concept of sleeves – what they are, why they exist, common performance reporting problems and how one technology provider aims to address these challenges.

by Tina M. Madel, CFA, Wealth Practice Lead…

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Selecting a Data Aggregation Vendor? Here Are 5 Questions You Should Ask

Numerous vendors provide data aggregation services, and choosing the right one for your business requires asking the right questions. You may be tempted to select a solution based on the broadest coverage of sources, such as custodians and banks, or product pricing. Those criteria work well if your goal is to provide a snapshot view for your front-office advisors and clients who require a holistic financial picture. On the other hand, if your objective is to create an accounting book of record (ABOR), providing key inputs for critical investment management and reporting activities, you need to ask vendors about their processes. Here are five questions that will help you narrow your search and find the best fit.

by Tina Madel, CFA, Wealth Practice Lead…

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Cracking the Code on Automating Alternatives Data Management

We’ve seen a number of technology solutions emerge in recent years that attempt to address the challenges facing Alternatives Data Management (ADM). No two tools are the same, and it’s important for investment management firms to understand their capabilities. We reached out to Canoe Intelligence, a financial technology company focused on reimagining alternative investment data processes for institutional investors, wealth managers, capital allocators and asset servicing firms, for their perspective on how alternative investors and allocators manage their reporting needs.

by Christine (Tina) M. Madel, CFA, Principal

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3 Ways To Accelerate Your Vendor Selection Process

Finding a vendor to solve a business need is often treated as an analytical task – pick one that checks the most boxes and provides the biggest “bang for the buck.” However, several other factors should feed this decision. Vendor selection is not only about choosing the right platform, but also about picking the right partner who closely fits the firm’s culture and offers complementary services. Often, organizations find themselves in a precarious situation when extensive analyses conducted over several months do not yield decisive outcomes. Here are three ways to accelerate the process and reach a viable option.

by Christine (Tina) M. Madel, CFA, Principal

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Beyond Enterprise Data Management into the Challenges of Alternatives Data Management

If you think the journey to mastering your enterprise data management (EDM) is difficult, consider the teams wrestling with alternatives data management (ADM). Increasing correlation between traditional investments (equities and fixed income) and the pursuit of Alpha has fueled the expansion into alternative investments. Beyond allocations to external managers and hedge fund managers, this segment extends to private equity, private credit, real estate, real assets, infrastructure and more. Each brings its own complexity. When you layer in fund of funds, primary and secondary investments; the customary drill through for traditional investments is just not possible.

Although alternative investment teams use dedicated vendor tools; they still rely in some way on Excel and significant manual effort to wrangle their alternatives data. ADM challenges are not just internal to the team working to meet their own analytic and reporting needs, but external as well. In an analytics-led and data-driven world, firms want to see the whole picture to understand how the full range of investments roll up. CIOs and many others need to examine exposure, risk and performance from a holistic viewpoint, rather than from individual asset class silos. This paper explores the challenges of blending EDM and ADM to drive this complete viewpoint.

by Mick Cartwright, CIPM, Managing Director
and Christine (Tina) M. Madel, CFA, Principal

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Targeted Demos Benefit Both Buyers & Vendors in the Selection Process – Whether They Are Conducted In-Person or Remotely

Typical vendor selection methodologies include consecutive steps made by the buying firm. Their first step is to consider an ‘anything is possible’ list of vendors before culling it to a short list of qualified vendors, followed by a robust and time-consuming RFP process. A few vendors will make it to the final steps which involve product demonstrations, or ‘demos.’ Even after all this effort and detailed qualitative analysis, a firm may have a difficulty selecting a single vendor and/or feel less-than-confident that their choice is unbiased and free of incorrect assumptions. By including live or remotely conducted targeted demos as the final step, firms are better able to evaluate vendors objectively.

by Christine (Tina) M. Madel, CFA, Principal

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Is RPA the Right Solution to Optimize Your Investment Operations?

The use of Robotics Process Automation (RPA) is on the rise across the financial services industry. Investment operations managers are touting the benefits of using this new technology to reduce headcount, reduce errors, and increase through-put – an operations manager’s dream! Meanwhile, other operations managers are finding themselves in a nightmare situation when they’ve implemented this technology resulting in failed projects and money wasted. To achieve the dream and evade the nightmare, managers need to follow a disciplined approach before deciding which direction to take. This paper provides insights into a proven RPA analysis process used to derive a realistic ROI and successful projects.

by Christine (Tina) M. Madel, CFA, Principal

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