Products August 7, 2012

J.P. Morgan Adds Form PF Capabilities

Reporting capabilities for Form PF were added to the alternatives product suite of services for J.P. Morgan Worldwide Securities Services.
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The Securities and Exchange Commission’s (SEC) new regulatory filing for registered investment advisers, Form PF, is designed to help the Financial Stability Oversight Council assess systemic risk in the financial system. The rule requires advisers registered with the SEC that advise one or more private funds and have at least $150 million in assets under management to file Form PF. Larger advisers are required to complete more detailed reporting.

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This capability will allow advisers to receive client level Form PF data, enabling them to complete the Form PF data compilation and filing with their own systems. Clients will have the option of working with a selected third-party to receive the full end-to-end-solution. Clients using this offering will be able to manage their reporting workflow and automate Form PF processes in a scalable and auditable format.

The product offers a range of options for Form PF solutions support, including investor fund level information, according to Stephanie Miller, global head of alternative investment services for J.P. Morgan Worldwide Securities Services.

More information is available here.

 

 

In Practice August 7, 2012

Schwab RIA Practice Management Program Focuses on Change

Schwab Advisor Services scheduled ‘Insight to Action’ training classes that focus on strategic planning, client profitability, transitioning the team and technology.
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Schwab developed the curriculum from findings in its 2012 RIA Benchmarking Study, and will hold classes through the end of the year throughout the U.S., including Boston; Philadelphia; Tysons Corner, Virginia; Cincinnati; Cleveland; Pittsburgh; Fort Lauderdale, Florida; Denver; and Newport Beach, California.

“Rapid firm growth and increasing competition have made running an RIA [registered investment advisory] more complex,” said Nick Georgis, vice president with Schwab Advisor Services. “We recognize that advisers need in-depth help to address their critical business issues. Through the ‘Insight to Action’ program, Schwab business consultants and relationship managers work together with advisers to address business challenges and drive toward actionable solutions tailored to their unique needs.”

In fact, the Schwab survey found that the best-managed firms’ revenue growth rate is double their competitors—and that the best-managed firms’ revenue per professional is nearly 50% higher.

The three classes and one workshop are as follows:

Mastering Strategic Planning– Schwab’s RIA Benchmarking Study found that the best-managed firms place a high priority on strategic planning. This program empowers RIAs with a written strategic plan to help them expand their firm into the future.

Managing Client Profitability – This curriculum helps RIAs determine the cost of serving clients and create a dashboard that guides resource allocation, evaluates pricing models and helps RIAs efficiently and productively serve their clients while maintaining a “high-touch service model.”

Transitioning Teams – This class teaches advisers how to create and implement a succession plan. Advisers learn valuation measures, deal structure and the drivers of value for an RIA firm.

Technology Challenges – This interactive workshop, filled with exercises, is aimed at helping RIAs leverage technology and offers an overview of Schwab’s solutions offered through the Schwab Intelligent Technologies.

Schwab business consultants conduct the classes, which average three months in duration and which are held before working hours at convenient locations, including onsite RIA office visits. This is the second year that Schwab has offered the “Insight to Action” curriculum. To date, 600 advisers have participated in the program.

Advisers interested in the “Insight to Action” classes can contact their Schwab relationship manager or a Schwab business development officer. 

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