Benefits

Why would an investment manager want to outsource their marketing functions? There are a variety of reasons.

• Eliminates ongoing recruiting, hiring and training issues.
• Dedicated staff of experienced RFP/database specialists.
• Affordability - reduction or containment of existing costs.
• Employee ownership - our staff has a vested stake in our client's success.
• Development of an organized knowledge base of your company, products and systems.
• Implementation of repeatable processes and contingency plans.
• Advanced technology systems.
• Utilization of "Best Practices" as acquired from serving multiple managers.

Let's take a closer look at one of the benefits and see how it applies to your firm. By working with many investment managers, Compass is developing a broad range of "Best Practices". Each investment manager normally functions in an isolated silo. Since Compass works with a number of managers, your firm benefits by drawing upon the best ideas we acquire from working with a spectrum of managers. This allows Compass to extract and develop superior processes.

Our goal is to provide our clients with a stable support staff that will insure continuity and reliability in providing RFP and consultant database type services. Ultimately, this will help our clients enhance net income by being able to focus their time on more direct selling, reducing costs, and producing higher quality marketing materials while providing greater peace of mind.

To learn more about how Compass can help your firm, please call or email us today for a consultation.

Challenges

Let's explore some of the challenges that managers face today.

• Increasing competition.
• Controlling costs while maintaining quality.
• Employee retention and recruiting qualified candidates.
• Implementing appropriate contingency procedures.
• Keeping apprised of latest processes and technology.

Just as we did with the Benefits section, let's look more specifically at the issue of employee retention and turnover. Activities such as RFPs and Consultant Database Population can be redundant and stressful due to tight deadlines and sales/management pressure. Because of this, there can be a certain level of employee turnover that impacts these functions. At large investment firms, it is not unusual to see turnover as high as 20% annually in these positions. At smaller firms where staffing is limited, the loss of one person could be devastating to new business prospecting. Since Compass is an employee owned business, turnover is less of an issue so we can focus on higher priority initiatives.

Employee turnover comes with a host of issues, including:

• Time and financial cost from ongoing recruiting, hiring and training.
• Loss of knowledge base.
• Difficulty acquiring experienced support staff and costly relocations.
• Missed deadlines.
• Potential loss of new and existing business opportunities.
• Risk of inaccurate firm information being disseminated publicly.

Compass has analyzed these issues carefully and has put together an approach that works to eliminate or minimize the risks associated with these events.