What Is Your Information Under Management?


This blog is the first in a series where we explore how your firm can make the transformation to a data-centric firm.

The asset management industry is very familiar with the term, ‘assets under management’ (AUM), but what about all the other distribution information under management (IUM)? This information, like assets, needs to be tracked, monitored, and measured. This includes all the information you can gather about your business including internal information and purchased information. Modern asset managers must seek all possible sources of their information, not just that what may be found in the CRM or accounting system.

To find all this IUM, one must seek the type of information that may be hidden too. An example of internal data that may be hidden is the true value of a client relationship. Each client may have a priority label, activity notes, an investment record, and expense history. To truly understand the value of a client and properly segment, these disparate sources of information should be considered in concert. This information will remain hidden until it is better accounted for.

Information purchased from third parties is another example of hidden information under management. Until this information is put into action with data mining or model building, the potential of the information remains hidden. Regardless of what efforts are made to analyze it, keeping this information under management siloed will not truly unlock its potential.

Properly identifying all your IUM will improve your ability to understand your business results. You will also be able to calculate the ROI each data set contributes towards your KPIs. How do each of your sales enablement solutions contribute to sales results or how is the information you purchase leading your team to the right advisor or advisor team? Knowing this will inform future investments in those information solutions.

These data management ideas and others are what Olmstead helps clients improve to ultimately improve business results. Olmstead is a data-centric consulting firm that believes that solution architecture should be built to effectively manage your IUM so that you may use it wisely.

Part 2 will explore how all this information can be better managed to improve business processes and measure success.

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