Building and sending the quarterly client report pack
The pack is not the account statement, and the custodian sends its own regardless, so the cover has to say what the report is and what it is not. Assembly repeats identically every quarter. Reconcile, wait on the final price and any corporate action, generate per household, check that a mid quarter funding has not produced a return figure nobody can explain, then deliver by whichever channel each household consented to. Evidence of delivery belongs in the record. Exceptions are few and usually the same households.
The account application comes back not in good order because of a missing initial, and the whole signature cycle runs again.
The custodian holds the assets and is the record. The advisory firm runs a relationship system alongside it, plus a portfolio and reporting system, plus a planning tool, and the same client identity is entered into each because there is no shared key between them.
- Orion
- Addepar
- Outlook
- Gmail
When this is the wrong thing to build
Pick something else if households number in the dozens and the reporting platform already batches and emails the pack on a schedule. Assembly is worth building where exception handling is manual, not where the button already exists and works.
The constraint that shapes it
Books and records rules require preservation of communications relating to advice and recommendations, and to the movement of funds, in an accessible place, for a defined period with the earliest portion held locally. More on how this sector works.
A deadline arrives. The bundle builds itself from what is already there. Read what this shape is, or start from one of these.
- Building a commission disbursement authorization at closing
- Drafting a seller net sheet from a payoff statement
- Building a demand package the adjuster can actually open
- Filling a mandatory form set from the matter record
- Drafting the disbursement statement behind a settlement payment
- Getting the job photos onto the invoice before it sends
- How do I show that a quarterly performance report was actually delivered?
- Why does a mid quarter deposit distort the reported return?
- Does a performance report have to match the custodian statement?
- How do I send quarterly reports to clients who still want paper?
- What should a quarterly report say about the account statement?
Back to wealth management, or see how this is priced and scoped.