Below are a selection of real stories from real clients.
Boutique firm with low completion rates.
Client is a boutique firm with 5 employees and $300M under management. Given limited resources the firm had an average 50% completion rate across the 18 databases they reported to. The firm had limited experience with databases or the staff to support this role so IMSS completed the following:
Reviewed databases, provided a list of deficiencies & recommended corrections. Suggested additional database exposure to increase visibility.
Identified a single point of contact for all data submission to streamline the process.
Built new reporting templates to ensure accurate, complete, consistent and timely flow of data.
Uploaded critical documents that were missing, including GIPS letter & ADV’s.
Created a seamless efficient flow of data, resulting in client completion rates over 90%+ across the databases.
The client is a firm with over $1.5B under management and well-staffed. Our expertise and oversight in data management alerted client to potential inconsistencies in reporting by:
Catching an error at initial upload phase - Our review of the data files identified the representative portfolio for a strategy had shown a different cash level than in the characteristics file that was uploaded.
Our due diligence uncovered the manager had changed the representative portfolio for the strategy.
The issue - inconsistency in reporting between marketing materials and the databases would create confusion to potential investors in the marketplace.
The portfolio was changed, issue resolved before distribution and any without impact to the manager.
Where They Count
We have several clients who had been reporting to two European databases that were not a fit for several reasons. Unless they spent thousands of dollars to “subscribe” to these databases, they were not visible to investors nor screening into any searches internally.
Our team felt that they were putting effort and dollars in where it was not necessary, nor did the products fit the databases to begin with. We could have continued to charge them, but we instead recommended discontinuing both databases and putting efforts and assets where they count. We discontinued reporting to these two databases and added one other to the lineup. We believe in quality not quantity, and our clients putting their hard earn money where it matters most in winning business.