Service: System Rationalization

Client Reporting for Wealth Managers: Taming the Challenges of Bespoke Meeting Books

Wealth managers offer a variety of services for high net worth, ultra-high net worth and institutional clients. Their services may include investment advisory, portfolio management, administration and oversight of trusts, monitoring against investment policy statements, goals-based wealth planning, total net worth aggregation and management of gifts and grants for endowments and foundations.

For multi-service wealth managers, there are a multitude of challenges in efficiently preparing client meeting books. They can include exhibits relevant to some or all these services. Advisors and support staff compile data points from multiple sources in multiple formats to create a comprehensive book which often takes hours to produce the finished product for a single client meeting. Here within we address solutions to making client reporting more efficient while maintaining flexibility and a high standard of quality.

by Thomas E. Alex, PMP, Principal

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What Exactly is a Performance Book of Record (PBOR) and Why is it Important to Next-Level Growth Across the Investment Management Industry?

The asset management industry comprises a diverse group of firms offering countless products, funds and investment vehicles that are traded in forever-evolving financial markets. There was a time when the trading book and accounting book differed by days or weeks and clients received reports quarterly. This is not acceptable for firms today that are facing the need for complex asset administration and daily reporting cycles. Whether a firm invests in public securities or private assets, each come with their own challenges including underlying exposures, lagged pricing or fair value impacts to elicit and compare to a variety of benchmarks.
Today, managers of all investment strategies are compiling massive amounts of daily data. Fund strategies, client holdings, return results and analytics combine to support actionable information for portfolio managers, investment boards, clients and regulatory bodies. Most asset management organizations that support this daily function call it a middle office, and the platform upon which it relies is best described as a Performance Book of Record (PBOR). This paper outlines why developing a reliable PBOR is essential for next-level growth of your investment management organization – growth driven by data and confidence from knowing your organization is taking advantage of all the informational assets it possesses.

by Richard E. Mailhos, Principal

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