A Case Study in Designing the Core Functions of an RIA Practice

Portfolio accounting, reconciliation and software hosting are core functions for every advisory firm. All firms understand that a change to any one of these important systems poses a challenge and a risk to their business. Any upgrade or switch must be seamless to the firm’s clients and minimally disruptive to its operational team. No wonder […]

Building Depth in Family Office and General Ledger Offerings

Accusource welcomes our new Director of Business Development- Kent Lawson   We are thrilled to announce Kent Lawson has joined our team as the new Director of Business Development. He brings extensive experience and a proven track record of success to Accusource.   In 1985, with a degree in music from Ball State University, Kent […]

The Devil You Know And The Accounting System You Don’t

One day, not too long ago, one of our clients decided it was time to change their portfolio accounting system.   Their situation was not unusual. They had been running Advent AXYS for close to a decade and were happy with most aspects of the system. But, they felt that the reporting solution has not […]

We’re reconciled, why is my performance wrong?

The premise of reconciliation is simple. Check one thing against the other; when they match, you are done! Anyone familiar with reconciling position quantities in the firm’s accounting system to custodian records understands the process, and that’s part of the problem. Upon completing basic reconciliations of positions, many advisors feel they have done enough to […]

Not All Reconciliation Reports Are Created Equal

Let’s be honest: reconciliations are painful. The three best words to describe traditional reconciliation are bulky, time-consuming and never-ending.   Report layout is an excellent example. Most reconciliation reports have so much detail that it’s difficult to know what you should be looking for. This approach is inefficient and costs your firm more than just […]

The Awful Truth About Managing Change

To paraphrase a former British prime minister, he who rejects change is the architect of decay. The only place that can reject change is the cemetery. No one wants their business to be compared to a graveyard. This forces everyone to keep up with the increasing rate of change in the industry and in our practices. […]

The Truth About Cost Basis Reporting

Is cost basis reconciliation necessary? Conventional wisdom would say that the answer is ‘yes’. Everyone knows that any firm managing investments should be completely reconciled with their custodian on a daily basis. However, what exactly does that mean? Does “completely reconciled” include position, cash and cost basis? When looking at cost basis, what kind of […]

3 Smart Tips for a Successful Year End Reconciliation Checklist

Wouldn’t you love it if you could simply wave a magic wand and have an expert review your entire business top to bottom to prepare for 2017?  Someone that would consider your firm’s key procedures, including client-specific processes, and guide you around potential errors that could sour a client relationship or cause you to miss […]

Cybersecurity Mistakes Every Hacker Hopes Your Company Makes

Back office IT security is an unsung modern-day hero. When things go right, it runs in the background, practically invisible. But, when something goes wrong, the failure could result in irreparable damage to the firm’s reputation, legal and enforcement costs and potential loss of clients.   Although data breaches at companies that are household names […]

4 Guidelines to Procedures That Actually Work

The words “procedures manual” is enough to make most people groan. But procedures are a critical part of any effective operation. A manual that lays out what needs to be done, when, and how can preempt queries, act as your company’s institutional memory, help you manage when someone’s out sick, and facilitates training. Of course, […]

Four Common Causes Of Performance Errors

Any asset manager, hedge fund or investment advisor managing a fixed income portfolio knows that they have to get performance right from day one. Accuracy is an imperative in performance calculations. Even the smallest error can distort results—maybe by one or two basis points at first, but over time these tiny discrepancies can grow in […]

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