Your firm’s reputation. And when an investment firm’s reputation for accurate, reliable reporting is called into question, revenue-producing AUM takes a direct hit. Reputational risk stemming from regulatory missteps is a given. But operational risk can be just as damaging—and more insidious.
- It’s bad when a portfolio manager notices an error in mid-presentation.
If a portfolio manager or sales professional notices that the displayed benchmark is wrong while in the midst of a presentation, it can throw them off and impede their ability to tell an effective story.
- It’s even worse when the client notices.
Worse yet, if a trustee or consultant in the audience notices the error, it can lead to a series of embarrassing questions that are sure to derail a well-thought-out presentation.
- The worst case is when the client notices, but doesn’t say anything.
In this situation, the manager loses the business and never knows why. The firm goes on their way repeating the error in subsequent presentations until someone finally notices and corrects it. But by then, it’s often too late.
Assette leads the industry in identifying “last-mile” problems at asset management firms. The CFA Institute, Investment Adviser Association and National Society of Compliance Professionals have highlighted our work. The last mile is where your firm takes data from multiple sources and uses a hodgepodge of semi-automated and manual data-entry processes to populate marketing documents and client reports.
Click below to read the Executive Summary of our paper, prepared with input from attorney Richard Kerr of K&L Gates, and Amy Jones, CIPM, of Guardian Performance Solutions, discussing reputational risks in the last mile and recommended solutions.
Assette is also the industry leader in solving last-mile problems with cloud-based software that automatically integrates data from your accounting and analytics systems to generate marketing material and eliminate manual work.
If you’d like to learn more about how Assette can help your firm avoid last mile issues, please click here.