Having a Continuous Improvement Mindset

The coming of spring in the Northeast is usually a time for optimism; it is nice to see that familiar pattern returning this year.

In our previous version of Inside Look we introduced our “Vivid Vision” and shared a bit about our core values. In this article, I’d like to talk more about one of those core values: Being self-motivated/having a continuous improvement mindset.

I am fortunate to witness several examples of this behavior almost daily. Most are small, but because these small improvements add up to material changes over time, we do our best to call them out and recognize them. This recognition ranges from positive one-on-one feedback, to companywide acknowledgment with the goal of creating a positive feedback loop.

On occasion, we embark on more substantial projects and today we find ourselves in the midst of a significant upgrade related to data management and reporting.

As you might imagine, our team sits in the middle of a large flow of data. Some of this is relatively easy to digest and process. “Real-time” data as it relates to liquid investments is not a new concept (for better or worse from a behavioral finance perspective!). However, once you start to include less liquid assets in the mix, things get a bit more challenging.

On the data management front we are implementing machine learning technology that will allow us to process alternative investment data more quickly and with a high degree of accuracy. We are excited to build this into our technology stack.

Through native integration, this technology will allow us to get information into our new reporting system where it will be combined with liquid asset data and give us additional flexibility around analytical views that we show our clients.

I am very proud of the work that our project team has done in implementing these two new systems in parallel. Not an easy task for sure!

Of course all of this is ultimately driven by our "Core Purpose" which is to be indispensable to wealthy families!

We appreciate the response that we received from our initial Inside Look and we hope that you will continue to share your thoughts with us. Have a wonderful start to your summer!

Sincerely,

Buddy Webb
Managing Partner