CASE STUDY
Commenting on the speed of development , Rosenzweig said : “ The OutSystems platform helps us reuse development among our projects to better streamline our client-driven solutions and allow us to focus more of our time on human-centered design . We intentionally designed the solution around the needs of our largest and most complex registered funds client .”
Morgan Lewis went live with AdviserDash with two clients in August 2020 and over the next five months , continued to add enhancements based on feedback from the client and investment advisers .
“ The feedback has been tremendous ,” said Rosenzweig . “ Comments like ‘ Why hasn ’ t anyone thought of this before ?’ tell us that we ’ ve hit the mark . We ’ re now able to scale and industrialize the 15 ( c ) data collection and report assembly process . We ’ ve made the process easier and more efficient for our clients , investment advisers and trustees , as well as for our lawyers .”
Morgan Lewis started onboarding more investment advisers to AdviserDash in January 2021 . Investment management firms are keen to adopt and appreciate more modern , robust and efficient ways to address this crucial governance and compliance requirement .
Key features and advantages of AdviserDash include :
• Administration portal : Used by lawyers to distribute , monitor and review reporting questionnaires . The portal has eliminated manual emails and Word documents from the datacollection process , delivering traceability , SLA monitoring and transparent progress tracking .
• Digital questionnaire : Used by investment advisers to input annual responses . The modern web experience helps distributed teams prepare responses collaboratively and efficiently , with progress tracking and time-saving features built-in .
• Consistent client experience : Used by registered funds to maintain relationships among trusts , funds and investment advisers . The digital questionnaire provides a standard format to make it easier for trustees to focus on what ’ s changed since the previous response , a vast improvement compared to wading through lengthy Word documents to find crucial details .
Outlook enhance efficiency , transparency , and UX for lawyers and clients alike .
“ We ’ ve established a proven , scalable approach for digital innovation that combines our user experience design proficiency with the agility of the OutSystems platform and our successful partnership with Truewind ,” said Rosenzweig .
Intelligent CIO asked Josh Rosenzweig further questions to find out more .
The AdvisorDash Portal makes it easier to automate the distribution and collection of an annual renewal questionnaire . Why was it so important for your company to automate this process ?
I think it was really our attorneys in our investment management practice that identified that the process was pretty disconnected and cumbersome for all the stakeholders involved . Not only did we get their buy-in to start to think about developing an application and platform that could change the way their work is done , it was really about collaborating with them side by side , to think about what the challenges are that everybody in this kind of ecosystem or process are experiencing .
So it was the attorneys that actually helped us to understand and frame some of the challenges that these different stakeholders in the process had and it was really my team that helped them visualise that story .
For the attorneys and our clients , which are large registered fund complexes , the process was very manual – to prepare and distribute Word documents that were sometimes 80 pages long . They had to track these questionnaires and responses by email , through Excel documents and this was a very labor intensive process . This was just to get the questionnaires to the people that needed to fill them out .
So that was one aspect of the process but it was also for the investment advisors who are not necessarily our clients , but are the ones that are completing the questionnaire for our clients , and we really saw an opportunity to enhance that experience for them . They are getting these 80 page documents , sometimes they get multiples from different registered fund complexes that are investment advisors too .
Morgan Lewis expects to use the same design-centric approach to address numerous client-facing needs . Morgan Lewis ’ s rapid results and clear return on investment provide increasing confidence to drive more experiments , helping in the firm ’ s mission to
For them , it ’ s very time consuming . A lot of times they are asking for the same information but in different ways , so they ’ re having to copy and paste a lot of information back and forth between different documents and making sure that they ’ ve answered all those questions .
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