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Disrupt, don’t disturb: what we learned at our fund roundtable in Boston

We recently had the privilege to host some of our clients and Mutual Fund industry leaders for a roundtable discussion in Boston. It was an opportunity for us collectively to step away from our daily workplace rituals and talk about the future of our industry. Read more

Whitfield Athey

Whitfield Athey is CEO of Delta Data Software. His role at Delta Data is focused on growth of the product base, satisfaction of clients and scalability of the organization.

Kicking the Can (or Buckets) Down the Road – Liquidity Rule Delayed Six Months

The SEC voted on Wednesday to delay the compliance date of the classification requirement of the Liquidity Rule in what turned out to be a whirlwind of a week for the regulatory body.

With a delay now formalized, fund firms with more than $1 billion in assets now have till June 1, 2019, to comply with the classification requirements, while smaller firms have till Dec. 1, 2019. The SEC also issued an FAQ document detailing compliance requirements for the rule, which you can find here. The other requirements of the rule still go into effect December 1, 2018, for large funds and June 1, 2018, for smaller funds. Read more

Burton Keller

L. Burton Keller was a principal founder of the company in 1985 and currently focuses on strategic initiatives for the company. Mr. Keller also serves as company representative to the DTCC and is an active member of the Bank, Trust and Retirement Advisory Committee of the Investment Company Institute.

Peeking Behind the Curtain of Mutual Fund Corporate Actions – Part III

In part three of our series looking at the world of mutual fund changes and how they’re communicated, we look toward the future. To recap, funds and distributors have been frustrated with the fund event communication process since the beginning. The main issue is that manual processes, lack of standardization, and massive amounts of irrelevant data confuse both the funds and the distributors – and leads to errors, audit issues, and fines. Read more

Scott Marcus

Scott is a Sr. Sales Director at Delta Data representing the buy-side suite or Oversight Solutions. Scott has been involved in the financial services industry since 2004. For the last 10 years he’s made a career managing complex enterprise SaaS sales cycles with a singular focus in FinTech. Connect with Scott on LinkedIn.

Broker Dealer Platform Rationalization Puts Operations Teams Front and Center

Over the past two years, the industry has seen a growing trend of platform rationalization across the board for broker-dealers, with several in the top tier seeking to offer advice as part of their value proposition, similar to what the end investor receives.  The supermarket approach of the early 2000s was expensive to maintain, and research coverage was relegated to a small list of preferred mutual fund products. Read more

Whitfield Athey

Whitfield Athey is CEO of Delta Data Software. His role at Delta Data is focused on growth of the product base, satisfaction of clients and scalability of the organization.

How to Ease Your December Dividend Headache

 

It’s the most wonderful time of the year … unless you’re an intermediary in charge of processing mutual fund dividends. December is a high-volume month, with an onslaught of dividends that have to be posted in a timely fashion. Years ago when most fund accounts were held fully disclosed on the fund company’s TA system, dividends were a non-event. But the move to omnibus accounts and the growth of 401k plans now requires the intermediary to calculate the amount of each shareholder’s dividend and get it posted to their account the evening of ex-date. Read more

Steve Tomasheski

Steve is a Sr. Sales Director at Delta Data representing the sell-side solution suite or Distribution Services. For almost 15 years Steve has made a career managing complex enterprise SaaS sales cycles with a heavy focus in FinTech. Connect with Steve on LinkedIn.

3 Reasons Why You Should Take a Sales Meeting

For some people, taking a sales meeting is on par with going to the dentist — they’ll avoid it at all costs. Avoiding the dentist due to an unreasonable fear will eventually come back to haunt you, just like skipping an informative sales call could mean missing out on the latest industry technology — ultimately impacting your business. Read more

Steve Tomasheski

Steve is a Sr. Sales Director at Delta Data representing the sell-side solution suite or Distribution Services. For almost 15 years Steve has made a career managing complex enterprise SaaS sales cycles with a heavy focus in FinTech. Connect with Steve on LinkedIn.

The Best Plan for a Potential Liquidity Rule Delay? Plan for No Delay

There have been multiple developments suggesting that Rule 22e-4 (“the liquidity rule”) is likely to be significantly watered down or, at least, delayed. Earlier this month, ICI sent a letter to the SEC urging the regulator to delay the compliance date by a year to ensure firms are well prepared. This postponement would appear to be in the industry’s best interest, given that a recent survey of 220 CCOs across the industry revealed that 90% of them were less than halfway through preparations to comply with the rule. Read more

Burton Keller

L. Burton Keller was a principal founder of the company in 1985 and currently focuses on strategic initiatives for the company. Mr. Keller also serves as company representative to the DTCC and is an active member of the Bank, Trust and Retirement Advisory Committee of the Investment Company Institute.

Peeking Behind the Curtain of Mutual Fund Corporate Actions – Part II

As we highlighted in our last post, corporate actions play a crucial role in the day-to-day management of mutual funds as well as the Broker-Dealers, Bank Trusts and Record Keepers that distribute them.

Once the corporate action blast email is sent out and received by distributors, a multi-step process, chock full of obstacles and risk begins. Deciphering what’s being communicated and if/how it effects your enterprise is rarely a simple task.  We’ve listened to our distribution clients — and here’s what we’re hearing about the current state of corporate action blast communications. Read more

Steve Tomasheski

Steve is a Sr. Sales Director at Delta Data representing the sell-side solution suite or Distribution Services. For almost 15 years Steve has made a career managing complex enterprise SaaS sales cycles with a heavy focus in FinTech. Connect with Steve on LinkedIn.

The GOP’s Tax Reform: Retirement Plans Safe (for Now)

The House finally released a draft of their tax reform plan, and for right now, it looks like they will be leaving 401(k) contributions alone. Back in April, I wrote about how the Trump administration was looking at changing the deductibility of 401(k) deferrals as a way to fund their projected reduction in tax revenue. The administration was thinking about changing 401(k) contributions from being tax-deferred to being after-tax Roth style contributions. Their five-year projection indicated this would save up to 583 billion dollars over the next 5 years. Read more

Burton Keller

L. Burton Keller was a principal founder of the company in 1985 and currently focuses on strategic initiatives for the company. Mr. Keller also serves as company representative to the DTCC and is an active member of the Bank, Trust and Retirement Advisory Committee of the Investment Company Institute.

3 Takeaways from NICSA’s 2017 General Membership Meeting

Delta Data recently attended NICSA’s 2017 General Membership Meeting in Boston to gain a deeper understanding of what’s driving innovation in the financial services industry. The day passed quickly with keynotes, panel discussions, and roundtables with industry experts, and we gleaned some interesting insights into what the future of financial services may hold.

If you missed the conference but want more information on how to utilize technology to improve your business, we put together three major takeaways from our time in Boston. Read more

David Riley

David is a Vice President of Client Relationship Management at Delta Data. Prior to Delta Data he has logged over 20 years in the mutual fund operations and transfer agency industry. Connect with David on LinkedIn.

How to Achieve Successful Technology Vendor Partnerships in the Mutual Fund Industry

The relationship between mutual fund companies and technology vendors has changed dramatically in the last decade. Fund shops over this time have collectively decided that the amount of due diligence and associated costs of working with dozens of vendors was too burdensome, and frankly not worth the risk involved.

Fund companies began evaluating their existing roster of vendors to determine which ones had the broader breadth of capabilities, and deepening relationships with those firms that would best help them navigate the regulatory landscape while driving innovation. This process has been accelerated in recent years by mounting regulatory reporting obligations and increased investor demand for transparency. Read more

Bret Bange

Bret is SVP of Sales at Delta Data and has more than 20 years of sales experience in technology, data, and financial services industries. He is responsible for building and developing new business and strategic alliances, as well as managing the client relationship management team. Connect with Bret on LinkedIn.

Throwback Thursday – Tax Reform and Taxing 401K Plan Contributions

Last April I wrote a piece on what a bad idea I thought it was to Rothify 401K plans (see “Trump Administration Looking at Changing the 401K Tax Rules“). As you probably know already, participant 401k contributions are taken out of your pay before federal and state income taxes. They are taxed for FICA but not for income tax purposes. Then when you withdraw the funds, they and the income earned is taxable. The current administration is considering making 401k contributions work like Roth plans work today where you contribute after tax dollars, but when you withdraw your funds at retirement, they are tax-free, including the income. The purpose behind changing the rules would be to raise income taxes to support other spending initiatives by the administration. In other words, if they are successful in changing the law, the billions of dollars contributed each year to 401k plans would all of a sudden become subject to income taxes. The Joint Committee on Taxation has shown that the tax preferred treatment of defined contribution plans will cost 58.6 billion in foregone revenue between 2016 and 2020. Read more

Burton Keller

L. Burton Keller was a principal founder of the company in 1985 and currently focuses on strategic initiatives for the company. Mr. Keller also serves as company representative to the DTCC and is an active member of the Bank, Trust and Retirement Advisory Committee of the Investment Company Institute.