Client Situation
As The Trust Bank grew, they recognized that their performance measurement and reporting system had to deliver expanded reporting options and higher levels of detail to help its people communicate more effectively with clients.
Client Challenges
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Performing breakdowns of asset class returns was becoming increasingly more difficult
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Its standard, one-page summary report lacked the details clients wanted to see
Reason for Challenges
- Current one-page report was ineffective for conveying client investment returns
- Service level concerns were not limited to personal clients; there was a growing demand for attribution and risk analysis from institutional clients as well
What the Client Wanted
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Help serve the full scope of its clients’ needs
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Address flexible and detailed reporting that included risk and attribution analysis
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Assure data accuracy throughout the process
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Have the ability to grow as the business grows
What First Rate Provided
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A menu of different reporting levels that included a multitude of reporting options, which are combinable and customizable according to client needs
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Enhanced performance package for most accounts and those that need more reconciliation on returns and benchmark building
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More advanced reporting and extended capabilities to their institutional clients that want more information on attribution, where returns originate and their investment details
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Attribution analysis that not only identifies the return, but also how it is composed and whether it is a security selection or asset allocation – a level of detail that The Trust Bank needs to fulfill client demand
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Sophisticated drill down tool to help ensure and explain the calculation of returns
The Impact
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The Trust Bank now enjoys greater, more flexible reporting options, report details and increased speed of service
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They can now customize reports in ways not previously possible – less time is wasted on determining what should be reported to whom and how to compile the reports
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