GreenHill Provides Seamless Data Migration
Many wealth managers are unhappy with their current investment reporting solution. They want more flexibility and custom reporting, features their existing system does not provide. However, they hesitate to change because moving to a new investment reporting solution requires them to convert all their data from their existing system to a new one. That process can be overwhelming.
Converting to a New Investment Reporting Solution
Migrating to a new investment reporting system can be difficult, requiring an investment of time and effort by both the investment reporting solution provider and the wealth management company. The data conversion process alone can be complex and time-consuming, involving many steps:
- Evaluating the source data to ensure it is compatible with the new system
- Extracting the data from its source
- Cleaning and formatting the data, ensuring it’s properly formatted and ready for conversion
- Converting the data from its existing software into the new format
- Loading the converted data into the new system
- Validating and testing the data to verify it was transferred accurately and that the new system is functioning as expected
The wealth management company is responsible for managing some or all of this process, a responsibility that distracts them from their daily jobs. There may be issues formatting the data, or problems may be revealed during validation and testing. The reports wealth managers need to create for clients could be delayed due to these issues, causing them to miss deadlines and disappoint clients.
Rapid System Conversion with GreenHill
GreenHill has over 35 years of expertise in converting large data sets and mapping assets, and they leverage those decades of experience to eliminate the headaches associated with data migration. By understanding all the complexities and challenges involved in system conversions, GreenHill can remove migration obstacles and ensure a rapid conversion.
This month, a firm with $1.1 billion AUM needed GreenHill to complete its conversion without any disruption to its business. The conversion could not delay or impact the firm’s advisors’ quarter-end reporting deadlines. GreenHill converted the firm’s data within 24 hours and reconfigured 1,182 performance segments to ensure the firm had a tailor-made performance schema. GreenHill also honored every request the client made (ahead of schedule) during the project lifecycle, giving the client ample time to focus on getting familiar with its new books and records platform.
GreenHill is your trusted partner when converting from one book and record platform to another. With over 35 years of expertise in converting large data sets and mapping assets, GreenHill delivers a seamless transition, configuring your new system in record time. Their experienced team is dedicated to making your life easier, eliminating the pains traditionally associated with transitioning to a new books and records platform and letting financial managers focus on their business instead of spending valuable time focused on system conversions.
If your company is currently shopping for a new performance vendor, GreenHill is ready to be your new provider. Trust in our proven track record, and let us help you achieve a smooth and successful transition. Contact GreenHill today to get started.
