Account Management provides strategic focus for the backbone of your firm; the machinery of compliance, accounting, billing and reconciliation. Our expertise across trust, broker/dealer and RIA compliance and accounting structures is led by strategy and culminates with newly implemented tools or processes that accelerate your growth.
A large regional bank merger wanted to ensure they got it just right as they navigated combining two different core trust accounting platforms into either one of the incumbent platforms or a third new platform.
Our full scale approach included developing a comprehensive RFP, Identifying potential vendors, creating demo use case scenarios and a schedule. We distributed the RFP to four vendors covering five different solutions. Using our defined scoring methodology, the assessment team analyzed RFPs and demonstrations. Our final step was to narrow the selection for deep dive discovery and make a final recommendation to firm leadership.
With the merger of two mid-sized banks, resources were focused on other strategic activity. Using the F2 Strategy team to run the entire RFP process and vendor selection on its behalf and support the subsequent implementation allowed the bank merger to make progress on critical systems upgrades despite internal team time constraints.
A large investment firm did not have the ability to keep track of holdings of the same stock managed at the same time by two different portfolio managers. They had developed their own structure within the trust accounting system and wanted our support for finding an alternative account structure to better manage the assets.
We researched the history of how they got to the current structure and identified current and potential future issues impacting the portfolio management process. The insight gleaned from our analysis led us to recommend that the firm transition to a UMA-like structure within the trust accounting platform.
As a result of the project, the large investment firm gained insights into the governance of their account hierarchy and cash flow issues that enabled them to build out a more focused proprietary solution.
Recently, an RIA serving family offices and foundations had engaged with a new vendor to automate manual workflows aggregating alternative investment data and get data from unstructured sources into a normalized format for use in other systems and needed our implementation support and guidance.
We helped develop business requirements and an integration plan to successfully implement a new platform. With our comprehensive approach, we completed data analysis, data mapping, testing and feedback with the vendor. We also compared newly-automated process data to manually-entered data to validate output as meeting requirements.
With an integrated platform producing normalized data integration, this RIA saved time and increased data quality that allows its team to perform other more critical functions as well as have deeper client conversations. They also have enhanced additional analytic and business intelligence capabilities to manage client portfolios and data.
