Six Huge Risks Investment Managers Take When Using Spreadsheets for Client Fee Billing
By Doug Fritz It’s natural to choose a familiar tool to make tasks easier, and turning to spreadsheet applications for calculations is no exception. In the investment management world, financial services teams, CFOs and operations teams often use spreadsheets for client fee calculation and billing. While the endless formulas, worksheet linking, and cross-tab capabilities may make sprea...
How Investment Firms Can Rise Above the SEC's Six Most Frequent Issues with Advisory Fee Billing
By Doug Fritz It has been about a year since the U.S. Securities and Exchange Commission announced a risk alert that “Most Frequent Advisory Fee and Expense Compliance Issues Identified in Examinations of Investment Advisers.” Such inappropriate fee billing and expense practices may violate the Investment Advisers Act of 1940 and the rules implementing it, including anti-fraud provisions...
