Products April 21, 2009

UBS Adds Solution for Private Foundation Administration

UBS has joined with Foundation Source, a provider of support services for private foundations, to provide customized private foundation services for UBS clients.
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UBS clients will gain access to Foundation Source’s suite of customized private foundation services, which aims to keep private foundations running smoothly and in compliance, according to a press release. In addition, the online tools used by UBS clients for managing day-to-day foundation activities will be customized to reflect the UBS brand.

In the past several years, we have witnessed a dramatic emergence of strategic philanthropy as a core competency of the successful private wealth offering,” said Daniel Schley, Foundation Source Executive Chairman, in the release. “Even with the current economic downturn, Americans continue to give generously. In fact, our private foundation clients increased their giving in 2008 by 30% over the previous year. UBS is ensuring that those clients who decide to pursue their philanthropy via a private foundation are able to do so efficiently and effectively.”

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Products April 21, 2009

Pershing Releases Operational Efficiency Study for RIAs

In a new study, Pershing said advisory firms must harness human capital management to enhance operational efficiency and achieve long-term success.
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The study is titled “Mission Possible II: The Link Between Operational Efficiency and Human Capital,” published by Pershing Advisor Solutions LLC, a subsidiary of The Bank of New York Mellon Corporation, and Moss Adams LLP.

According to a news release from Pershing, the study provides registered investment advisers (RIAs) with an in-depth analysis of the operational risks facing the advisory industry and the critical role human capital plays in helping to manage these risks. The report also builds on the findings highlighted in Pershing Advisor Solutions’ previous operational efficiency study with Moss Adams published in 2005.

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The new study outlines a wide range of operational risks confronting advisory firms today which, if ignored, will create a slow erosion of operational efficiency that will adversely impact profitability and ultimately the quality of client service, Pershing said.

“In this current economic climate, advisers need to take significant measures to protect profits while simultaneously developing their best people,” said Mark Tibergien, chief executive officer of Pershing Advisor Solutions, in the release. “The recommendations detailed in Mission Possible II, particularly around processes, culture and benchmarking, are all low-cost ways for RIA firms to enhance their operational efficiency and position themselves for long-term success.”

The study was commissioned by Pershing Advisor Solutions and executed independently by Moss Adams LLP. Data were gathered from the 743 firms that participated in the 2008 Moss Adams Financial Performance Study of Advisory Firms as well as the 2007 Moss Adams Compensation and Staffing Study of Advisory Firms.

To receive a copy of the study, contact Pershing Advisor Solutions at 800.445.4467 or via e-mail at pasinformation@pershing.com.

 

 

 

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