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The Seven Deadly Data Sins


By Bob Ward

Wealth managers are facing a data management dilemma.

There are more than 9,300 mutual funds and 1,700 exchange traded funds trading in the U.S. today, each with their own pricing information, exchange rates, NAVs, dividend calendars and corporate actions information. Compound this with over 3 million equities, fixed income and alternative investments available to clients, and keeping track of all this market data has become a burdensome, costly task for wealth management firms.

To thrive in today’s data-driven landscape, firms must be able to leverage a reliable data set that is complete, secure and flexible—with the goal of enabling wealth managers to make smarter investment decisions on behalf of their clients, easily identify market trends, reduce the manpower required to manage data and cut costs.

However, not all data offerings are created equal. When done right, a data package adds tangible value to a wealth manager’s practice. But when the data falls short, it can generate convoluted processes and create headaches. In summary, wealth managers must make sure their content strategy doesn’t commit any of the seven deadly data sins:


Bob Ward is Chief Revenue Officer at Vertical Management Systems.

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