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VENDOR STEWARD - Governance and Measurement

Helping Structure and Maintain Governance for Firms and their Solution Partners

 

Vendor Steward provides the governance framework to evaluate, choose and monitor your firm’s portfolio of vendor relationships.

Vendor Steward

 

MAINTENANCE

Managing Your Firms Vendors

Regulatory obligations when choosing and managing a portfolio of vendors go beyond simply the scope of security. A vendor maintenance framework includes quantitative measurements and data shared in scorecard form, providing a platform for meaningful conversations that improve existing relationships. Furthermore, the framework provides a baseline for benchmarking your vendor portfolio, ensuring a smooth (and critically important) transition from vendor “juggler” to vendor steward.

SELECTION

The New Vendor Due Diligence Process

Choosing the right vendor requires the proper structure, budget and resources. How do vendors differentiate themselves? What metrics are needed to identify potential vendor weaknesses? The right (and wrong) choice has long-term ramifications. More importantly, a structured due-diligence process provides clarity and clear expectations for partners and reassurance for regulators.

Why is the SERVICE vital to you?

Wealth firms have a fiduciary and regulatory responsibility to monitor their vendors. Mitigating your vendor risk is now a “must-have.” Measurement of vendor choices and their implementations have a direct effect on the recruiting and retention of advisors and investors and impacts revenues.

What are the BENEFITS of the Service?

  • Alignment of needs and capabilities
  • Clear, transparent review of the vendor and their performance
  • Framework for effectively managing the vendor portfolio

 

 

 Beacon Strategies Vendor Steward graphic

Why is the SERVICE vital to you?

Wealth firms have a fiduciary and regulatory responsibility to monitor their vendors. Mitigating your vendor risk is now a “must-have.” Measurement of vendor choices and their implementations have a direct effect on the recruiting and retention of advisors and investors and impacts revenues.

What are the BENEFITS of the Service?

  • Alignment of needs and capabilities
  • Clear, transparent review of the vendor and their performance
  • Framework for effectively managing the vendor portfolio

Vendor STEWARD is so much more than vendor management. Why? Ask us.

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“Measure what is measurable, and make measurement what is not so.”

– Galileo