"The Loop" 4Q16

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AUG Seattle Member Meeting
Please join Ashland Partners and AUG for a complimentary meeting where the speakers will address the latest challenges in performing vendor due diligence and tackling cyber security.  Additionally, this meeting will include a new featured break-out session on managing millennials. Lunch will be provided and a networking reception will conclude the day’s agenda.

Seattle | October 25

CFA Society Chicago Annual Dinner
The 2016 Annual Dinner is CFA Society Chicago's premier networking event of the year, bringing together over 1,100 investment professionals and key decision-makers. This year's keynote speaker will be Cliff Asness, Ph.D., Founder, Managing Principal and CIO at AQR Capital Management.

Chicago | November 2

NRS Fall Conference
This year's Fall Conference will provide attendees with the latest essential compliance knowledge and best practice, as well as a chance to interact with thought leaders on strategies for effective compliance.

Scottsdale | November 2-4

Lunch N' Learn: Latest Trends with Cyber Security
Please join Ashland Partners for a complimentary networking luncheon as we discuss the latest trends with cyber security.  If you are interested in attending an upcoming luncheon, please contact Brigitte Nickel to reserve your seat.

Dallas | November 17

Ashland Partners Educational Conference 
This practical 2-day course is designed to give a thorough understanding of the fundamentals of performance measurement, ranging from basic return calculation, benchmarks, risk-adjusted performance measurement, and attribution techniques to the Global Investment Performance Standards ( GIPS®).

Chicago | November 15-17, 2016 (Advanced Course Available)
San Francisco | February 27-28, 2017
Boston | May 17-19, 2017 (Advanced Course Available)
Denver | September 18-19, 2017
Atlanta | November 13-14, 2017


Invitations to register will be sent 2 weeks prior to the webinar. If you are not on our mailing list, please contact our Client Relations Group for more information.

Vendor Due Diligence Solutions
Presented by Scott Cosentine, CPA, CAMS, CGMA
Date TBD
Please join Ashland Partners and Prevalent as we discuss our newest service line, Vendor Due Diligence Solutions.


Reminder/Alert: Pass-Through Tax Filing Deadline is March 15
In an effort to align workflow timing, the IRS has accelerated the tax return deadline for pass-through entities (i.e. Partnerships and S-Corps) to March 15 beginning with the 2016 calendar year. In theory, it should decrease the need for individuals to extend their tax return filings due to a lack of receiving K-1s. Read More >>

Industry Survey Released
In conjunction with the USIPC, CFAI has released an industry survey to all stakeholders and interested parties as it relates to GIPS. It is critical that all firms who have concerns or suggestions for the Standards participate in the standard setting process and this is the easiest way to do it. Read More >>


It's More than Just Fancy User Interfaces
The quickest and most efficient verifications come from firms that utilize software that aggregate data and allow the users to pull out data with ease. For example, you were awestruck when you were told that composite performance is calculated on a daily basis. Your verifier now needs to test to ensure that this in fact being done accurately. Read More >>

Is a firm deemed to have custody if they have the ability to move money from client accounts?
There continues to be limited guidance publicly, although the SEC staff has raised questions during recent examinations about advisers having custody as a result of the money movement authorization level provided by clients. The SEC has focused on an arrangement where the adviser is authorized or permitted to withdraw client funds or securities upon the adviser’s instructions to the custodian. Read More >>


2016 GIPS Conference Overview 
Presented by Greg Hogan, CFA, CIPM, & Shivani Choudhary, CIPM
Recorded Webinar
Ashland Partners discusses the key take-aways from this year's CFA Institute's GIPS Conference.

Marketing Under GIPS & Sound Practices 
Presented by Julia Reyes, CIPM, & James Sanzone, CIPM
Recorded Webinar
Ashland Partners covers the Global Investment Performance Standards (GIPS) marketing requirements and sound practices that can be implemented to ensure compliance.

Performance Presentation Standards: Foundation for Investor Trust 
Presented by Richard Kemmling, CPA, CIPM, CGMA, & Kate Kostenko, CPA
Recorded Webinar
Ashland Partners explains why presentation standards are needed in today’s environment. This webinar provides a brief overview of the standards, verification, and its advantages and limitations This presentation is intended for audiences with very little to no knowledge of the GIPS Standards.


Who Are You Again?
In our previous article entitled “Mimosas with Breakfast,” I explained that Access Control is about defining what you are trying to control, and determining who can access it. Now that you have done so, you need to stipulate how to identify and authorize people so they can access it. However, identification and authorization is often overlooked in policy creation. That is because the concept of identification is so ingrained in how we think. From the time we are born, we are trained to recognize the face of our mothers and the voices of our friends. This identification happens so quickly, that we often don’t recognize it. Yet this recognition forms the basis of the Identification and Authorization “Family” listed in the National Institute of Standards and Technology (NIST) 800-53 document. This policy can be summed up as follows: I have to know who you are, before I can give you access to what you want. That is it. Pretty simple, huh? Now let’s list the elements of this policy. Read More >>