Monthly Archives: September 2015

FINcastle’s CEO Bevin Crodian Shares Thoughts in a blog contribution titled
Embracing Change:
Wealth & Technology

Bevin Crodian, CEO, FINcastle Consulting

With the entrance of roboadvisors, wealth management firms with actively managed products are forced to take a closer look at finding ways to reduce fees and automate reporting. The opportunity to gain a competitive advantage through a scalable and efficient technology platform has never been greater.

From the perspective of mass affluent investors, the wealth management industry is still considering the direction that the so-called roboadvisors will pull the industry.  A couple of items are clear though, which is that the roboadvisors are driving an increasing focus on fees and technology, and that this trend will ultimately trickle up to the higher net worth markets.  If nothing else, full-service providers will have to equal or exceed the client-facing technology of these new entrants, and full-service fees over time will have to move closer to those of the roboadvisors, at least for parallel products and services.  Specifically for the actively managed allocations of separate accounts, fees will likely come down substantially.

If there is a positive outcome that stems from this fee compression for wealth managers, it’s that the industry will likely take a renewed look at fees and may come away from it with a better sense of best practices and greater standardization. There has been so little attention paid to the accurate description of fees in the wealth management industry that some have claimed advisors themselves consistently underestimate the total fees being paid by their clients. The roboadvisors are sometimes equally unclear about the total fees charged to clients.  In fact, when many in the industry refer to fees, they are just talking about the advisor’s share, rather than the total cost of ownership.
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Key Principles Serve as Cornerstone to Successful Data Governance

Paul McInnis, Head of Enterprise Data Management, Data Management

A recent survey conducted in collaboration between Eagle Investment Systems and WatersTechnology revealed that while industry participants are feeling the pressure to put in place formalized data governance policies, these efforts largely remain at an impasse. A number of challenges, be they cultural or related to available resources, stand in the way. Anecdotally, however, we’ve found that in many cases, large organizations often don’t know where to begin when it comes to drafting a data governance policy.

The survey and its accompanying white paper, “Command and control: Establishing a formal data governance strategy,” can be found here.

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Q&A with Eagle’s Robert Erman

Rob Erman, Head of Global Professional Services, Eagle Investment Systems

Eagle Investment Systems’ Head of Global Professional Services shares implementation best practices and highlights on how clients can get the most out of their solutions.

Q. You’ve been with Eagle for nearly a decade now as the Head of Global Professional Services. Can you discuss what that role entails?

A. Over my tenure at Eagle, we have seen our business grow and the expectations of our clients rise dramatically.  With our leadership in the industry, clients expect us to help them improve their operation by implementing our technology. I oversee a team of more than 200 people and we work diligently to ensure we have an optimized and repeatable implementation plan, so when clients sign on with Eagle they understand not only how to use the software but also how to fully leverage the power of the Eagle platform. We’ve done this hundreds of times, so we are able to steer clients down the right path with sound proven ways of doing things. Within Eagle, I want to make sure my team is communicating daily and sharing best practices, because that institutional knowledge is incredibly valuable to clients and can really accelerate their time to value.

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