Light at the End of the … Conversion!

Published by Rob Bethmann, General Manager, Service Bureau
April 18th, 2018

We know it and you know it … software conversions are painful. We often hear prospects tempering their enthusiasm for moving to a new system with their fear of the painful process of transitioning. It seems like these conversions rank somewhere between cleaning the garage and getting a root canal: not very fun.

However, a proactive approach to any software conversion can be much more enjoyable with the right questions and answers. Here are ten things to consider if you are looking to undertake a history conversion:


     1. Know your current performance segmentation scheme
     2. Know your account population
     3. Know the return frequency
     4. Know what financial are available that support the return
     5. Know the return basis
     6. Know how your current reporting and future reporting works
     7. Know how your future system will preserve your legacy returns
     8. Know whether there have been other history conversion performed into your current system
     9. Know how you’re going to handle legacy index returns
     10. Know your total portfolio benchmarks


Today, First Rate provides performance for hundreds of firms on the First Rate platform. Most of these firms did a history conversion as part of their implementation. Over the years, we have developed expertise in converting data. We know the typical issues that clients can encounter in these projects and we can work with you to mitigate risk. Our knowledgeable staff can assist you in understanding the contingencies and developing the best plan for transitioning to a new system.

Our job is to make your conversion efficient and slightly less painful (at least less than a root canal). We are here to support and help you before, during, and after a successful history conversion!

If you want to take a deeper dive into any of the ten considerations mentioned above and the questions First Rate asks, download our latest History Conversion E-Book.

About the Author: Rob Bethmann joined First Rate as the firm’s 10th employee in 1998. He has served in multiple business units in the company and currently serves as a Director and General Manager in First Rate’s Service Bureau. In this role Bethmann manages a staff of analysts and focuses on the delivery of our outsourced offering as well as growing the business in the future.

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