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First Rate Living Series: Love Takes Work

First Rate Living was designed for First Rate employees to display its core values in and outside the walls of the office. Love, Give, Serve and Enjoy may take on a slightly different meaning to each of us based on our cultures and experiences, but our ability to open our minds and try to see it from each other’s perspective is what makes First Rate Living so special.

We wanted to touch on our values one by one in order to share what makes them meaningful at First Rate. Love is the first in our series, and it is the perfect one to start with. It is never easy, but it is always fulfilling, and no matter who you’re talking to or where you’re from, you will always undoubtedly know it when you see it.

 

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The NBA Finals and Outsourced Back-Office Solutions: Yes, They Do Have Something in Common!

shooting report sbIn The Handbook of Investment Performance: A User’s Guide, Stephen Campisi prompts investment managers to ask, “How well did I do, relative to the indexes that represent my strategy?”

Little did Campisi know, Gregg Popovich and Erik Spoelstra would be asking themselves and their staff the very same question.

Their thinking is steeped in the notion that goal setting and strategy starts and ends with the data. This was apparent in the post-game twitter feeds surrounding the Spurs’ game 4 dismantling of the Heat. The typical maxims tweeted out by sports analysts were replaced by an overwhelming amount of analytical number crunching and statistic-driven reporting akin to the sabermetric approach heralded by GM Peter Brand in the film Moneyball.

After game 4, everyone was looking at the numbers, and the numbers told a fascinating story.

Chris Mannix, a staff writer at Sports Illustrated, tweeted:  “[the] most misleading stat of the night: Two assists for Tony Parker. His dribble penetration was instrumental in creating the Spurs open looks.” The Spurs shot an outstanding 57.1 percent from the field, and the Spurs’ display of incredible accuracy belongs to shooting coach Chip Engelland and his ability to “scrub the data” and help players make adjustments.

Engelland represents a type of “Back Office Support” or assistance that is essential to Coach Popovich.  Like Pop, First Rate has its own version of Chip Engelland in the form of a team called Service Bureau.

First Rate’s Service Bureau builds confidence by providing consistent and accurate performance and client reporting results.

When reporting, investment managers need to be able to:

  • Identify current investment activity
  • Monitor investment performance
  • Provide extensive benchmarks, analytics and attribution data

With a dedicated support team involved in enhancing your firms’ experience, you are getting the type of data analysis that the Spurs rely on from Engelland. Without Service Bureau’s expertise and constant data analysis and scrubbing, investment managers become hindered in their ability to excel and do their job with the accuracy and precision that is required!

Although there were many factors ultimately contributing to the Spurs’ win, an understanding of the analytics played a huge role in their NBA Championship.

Be on the lookout for our next blog post introducing four reasons a back office support solution might be right for you!

Click here to learn more about First Rate Service Bureau.

 

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