Global Broker Dealer/Investment Bank

Private Wealth Management Platform Consolidation
Alternative Investment Product

Client Challenge

  • As a result of a newly-formed joint venture, the Broker Dealer Firm planned to consolidate the Private Wealth Management business onto a target platform.
  • The source and target platforms within the firm have different Alternative Investment processing models regarding account set up, systems, reporting and fee billing.
  • The Alternative Investment positions represent approximately 1/3 of the converting account population; from a Demographic Conversion perspective, the client required assistance on resolving complexities around data integrity and account mapping due to the financial and legal nature of these accounts converting from the source side to the target platform.
  • GMG was engaged in the analysis and documentation of the conversion approach of the PWM assets onto the future state platform.


  • Provided Project Management Office (PMO) assistance to manage project scope and objectives, track milestones and document deliverables.
  • Communicated critical path milestones, activities and issues to various stakeholders, including senior level and executive management within the organization.
  • A conversion approach was documented to outline all tasks associated with mock conversions, dress rehearsal, and live conversion.
  • A Gap Analysis was conducted within the firm’s two divisions, to close out operational gaps and finalize the future model, based on Business decisions to adopt and integrate procedures, policies and systems.
  • Facilitated workshops which provided a forum for all stakeholders to discuss various options addressing the Demographic Account Conversion during which key business initiatives were finalized.
  • Developed future-state operating model with respect to demographic account set up, fee billing, money-market sweep mapping, statutory and performance reporting as well as client communications.
  • Managed user acceptance testing, including development of test plans and scripts; coordinated testing efforts between the Business, Operations and Technology areas tracking test results, monitoring test conditions and facilitating issue resolution through defect management.
  • Supported various data clean-up initiatives on the source platform identified by Business and Operations management.
  • Performed a Product Parity remediation to align fund offerings between platforms and augmented the future trading model to reduce settlement time by utilizing an automated vehicle instead of manually processing certain products.
  • An Impact Analysis was created to identify key Conversion topics which required training and communication documentation addressing the Customers, Branch and Operational personnel.

Solution/Client Benefit

  • A formal Program Management Office was implemented to oversee, track and manage the pre-conversion efforts and conversion testing events.
  • Conversion documents, test plans and impact analyses were developed in preparation for Testing, Training and Communications milestones leading up to the Live Conversion Event.

Gartland & Mellina Group — A Management Consulting Company