DISCOVER DCI
For Investment Managers
Investment Managers are increasingly reliant on the quality of their data, as it has a critical impact on their decision making and the service level they deliver to clients.
Poor data can create problems in multiple areas:
Client Reporting
misleading, inaccurate or out of date policy/plan data being reportedDealings Errors
from incorrect security set-up
Suitability
incorrect or missing data could result in inappropriate advice for clients
CASS breaches
such as miscalculated fees being charged or erroneous regulatory submissionsInaccurate MI
used for critical and strategic decision making
The consequences of bad data can be significant:
- Damaged client relationships caused by inaccurate communications
- Lost reputation if the above happens at any scale
- Increased staff costs to monitor and resolve data-related issues
- Reduced productivity from continuously allocating valuable resource to address data problems
- Regulatory fines if customer data is misrepresented or regulatory reporting is inaccurate
- Strategic decisions based on poor data can be damaging to both clients and the firm
- Cost of compliance will grow if data issues are ignored
Investment managers need to keep a keen eye on how data is collated, processed and reported to ensure they can run an efficient operation, avoid falling foul of the regulator and maintain customer trust.
To find out how to avoid these pitfalls
Insights for Investment Managers
The hidden cost of bad data
Regulatory imperative
Pain points from bad data