Peridrome Perspectives Q1 2010

With today’s emphasis on cost take-outs and managing more with less, managed solutions firms are more challenged than ever to optimize operations. However, the opportunistic nature of how advisor and distribution relationships are formed among participants means that key operational processes often develop organically. While many experienced operations professionals excel at quickly establishing procedures for supporting new business, over time, consistency among critical process flows decreases. Documentation of procedure may no longer be in sync with the actual procedure followed.

Gib Veconi, CEO, Peridrome

The continued migration among wirehouse advisors is creating tremendous operational pressures on receiving firms that are in a varying state of preparedness to support them. Top producers expect to get up and running without a hitch to protect and grow their business. Consequently, non-wirehouse firms are scrambling to implement the necessary infrastructures to support expat advisors with the same or better technical resources they left behind.

In the Winter 2009/2010 issue of DTCC’s Wealth Management Quarterly, the MMI's Chris Davis weighed in on industry trends and the drive for industry-wide operational efficiencies. And UBS’ Marianne Leone and Thornberg Investment Managers’ Randy Dry explained why their firms are excited about the industry move to message standards and the launch of MAS Portal, DTCC's Web-based gateway to its Managed Accounts Service.