Switching to Pinnacle
Switching to Pinnacle is a straightforward process. With our 4-step process, we take care of all data conversions and uploading into our systems.
Step 1 – Initial Assessments
- Interviewing all stakeholders (operations, tax, portfolio management and family members) to identify existing issues and pain points.
- Reviewing existing reporting solutions.
- Establishing needs and additional features.
- Understanding current structure of sub-advisors and custodians, datapoint locations, and ownership and reporting hierarchy.
Step 2 – Analysis & Proposal
- Our dedicated technology and onboarding teams take deep dive into datapoints.
- Working hand in hand with all stakeholders, we establish a comprehensive onboarding plan including dates of deliverables and ‘go live’ timing.
- Providing a detailed proposal including scope of work, cost savings with Pinnacle’s solution and key delivery dates and timelines.
Step 3 – Onboarding & Data Entry
- Assigning a specific team responsible for the day-to-day requirements.
- Working together with the onboarding and technology teams to establish datasource connections.
- Backfilling data to ensure correct historic tax lots and performance reporting.
- Reconciling with custodians to ensure completeness.
- Testing data feeds and bringing data up-to-date in anticipation of “go-live” date.
- Customizing reporting and reconciling with existing systems.
Step 4 – Go Live
- Day-to-day operational team providing all deliverables.
- Regular check-ins with stakeholders to ensure all needs are met.
- Connecting with 3rd parties for transmission of data.
- Preparation of year-end financial statement and tax information.
