Morgan Lewis has launched AdviserDash, a first-to-market, cloud-based application to report on investment adviser information.
It replaces the manual, cumbersome 15(c) annual advisory agreement renewal process with an automated system for distributing, monitoring, and publishing of the many fund documents required for reporting. AdviserDash is the most recent tool of the firm’s ML Fund Studio portfolio.
“We are driven to use innovation and automation to enhance client service,” says Firm Chair Jami McKeon. “Our commitment to quality drives our approach to rethink processes or apply a technology solution that improves efficiency and the client experience.”
AdviserDash provides a modern web interface to make it clearer for the board to quickly identify year-over-year changes that could impact an adviser’s renewal, make it easier for the advisers to gather information from multiple sources and input information, and make it straightforward for the funds to recall and analyse the data. The application is built on a low-code platform in order to be more agile—it is quick to deploy and quick to change once there is user feedback.
“The annual advisory agreement renewal process is generally regarded as among the most significant fund board responsibilities, and with the upcoming board meeting season, we understand it’s imperative to provide complete and accurate information,” says Timothy W Levin, leader of the firm’s investment management practice. “Although there are services on the market to support the 15(c) process such as providing benchmarking, none of those services address the distribution and collection of the requisite responses from investment advisers. To update a manual process with a flexible automated solution provides consistency of product and process, at the same time mitigating risk and being more cost-effective. So it’s really a win-win for everyone.”
“We challenge our team to identify redundant tasks and manual inputs that require significant time in order to refine workflow approach and embed intuitive technology applications where appropriate,” says Chief Knowledge Management and Practice Services Officer Colleen Nihill. “Our primary goal is to enhance our lawyers’ workflow, improve transparency, and provide an optimal user experience.”
Clients deserve technology-driven solutions that produce value-add efficiencies and the highest quality work product. Morgan Lewis’s multidisciplinary knowledge management and practice services team has worked closely with the investment management practice on this digital transformation to modernise the end-user experience for mutual fund boards and investment adviser clients.
