Description of Project:
A High Net-Worth Investment Manager with $7.3B AUM in almost 900 accounts across 37 custodians wished to expand their business, targeting the doubling of AUM over the next several years. They offered products with 3 different fixed income strategies and a currency basket strategy.
The firm engaged Sindex to make technology, operational and workflow change recommendations that would help business growth while avoiding disruptive increases in staffing that would weigh on profit margins. The review’s scope encompassed all business groups: Marketing, Client On-boarding / Relationship Managememt, Trading/Portfolio Management, Clearing/Settlement, Research/Analytics, Reconciliation and Accounting, Reporting and Performance, Client Billing and Compliance.
Sindex’s approach was to work closely with the client to find the right solution to meet the current and future business requirements. To help the client stay within tight project budget constraints, Sindex limited the depth of its review, relying on its experience in trading, operations and portfolio accounting, as well as its experience in implementing buy‐side systems for firms of all sizes to efficiently hone in on key functional gaps within each group, as opposed to conducting full operational and technology stack reviews. Sindex interviewed each business groups, quickly identifying short- and long-term points of risk.
Sindex presented management with the documented current state view, highlighting key operational and technology issues that could affect product plans. A future state documented identified changes that could be implemented by short-term projects with immediate business impact, as well as potential longer term strategic projects. Sindex reviewed the relative benefit of each project versus its cost and risk, and made recommendations for next steps in constructing an in-depth roadmap.