When Touchstone Investments launched their first two ETFs, they knew they needed to get the data right to ensure accurate reporting and commissioning. This meant refining their data strategy to enable the linking of ETF financials to existing client records and presenting the data in the right ways to return business value. They knew they got it right after the first two months of ETF financials were processed according to plan with few issues encountered. What were the main drivers of this successful outcome?
This case study shares how a consultative approach and strategic alignment contributed to the successful integration of ETF data into SalesPage, Touchstone’s distribution data platform, and related business analytics and CRM systems.
ETF data source selection and alignment on data matching
As an established asset manager, but new to ETFs, Touchstone selected an ETF data provider and worked with SalesPage to integrate ETF intelligence into their ecosystem. Touchstone’s primary objectives were to capture market activity and solve how to record and report on inflows, outflows, and positions for ETFs to ensure proper reporting (E.g., Attributing ETF financials to appropriate territories for sales and compensation reporting).
“Understanding a client’s profile and requirements before we recommend solution options is key,” remarked Wood Rustay, SA QA Manager at SalesPage. “We used a consultative approach to ensure alignment with Touchstone’s business objectives.”
The first step was to narrow down which data, from the provider data files, to use and then align on client entity matching criteria. With the size and scope of the data provided, it was important to ensure that the data used for matching helped drive the intended business value and not obscure it. SalesPage then profiled and shared Touchstone ETF data as it was matched and processed, allowing Touchstone to evaluate and confirm what they wanted to bring in and how they wanted to see it iteratively and collaboratively.
ETF data linking driven by business value and strategic alignment
Next came the reality of blending the data. SalesPage shared what was possible so that Touchstone could make informed, strategic decisions. Touchstone leveraged a cross-section of SalesPage expertise and internal team members to determine the best data-linking approach for them.
“There were nuances in the data, and we needed to figure out what mattered to us,” noted Julie Smith, Vice President Fund Administration & Operations at Touchstone. “We learned about the different ways other SalesPage clients had approached this and worked with our own team to determine what would return business value for Touchstone.”
Their data stewardship team evaluated matching approaches, identified inconsistencies, mapped a plan to address them, and presented their recommendation to sales management who confirmed they were seeing and getting what they wanted. This strategic alignment was key to ensuring they got it right from the beginning.
Finally, after the initial matching, Touchstone used SalesPage’s rules engine and stewardship tools for ongoing data linking and refinement. They set a threshold to flag specific records for review (E.g., Review any records coming in with financial data to ensure they’re accurately represented) and excluded entities that don’t have business from their CRM but kept them in an archive table in SalesPage.
Touchstone continues to advance into the ETF space with a nomination for the Best New International/Global Fixed Income ETF award at the etf.com Awards earlier this spring. These tools will give Touchstone the flexibility to support their ETF distribution and attribution as they grow.
About Touchstone Investments
Touchstone Investments offers a diverse, focused selection of mutual funds and ETFs across asset classes and strategies. Combined with their steadfast dedication to active management, they bring a fresh perspective to portfolio construction. They challenge you to take the time to look through a different lens. You will be surprised how you can truly discover the difference.
Touchstone Investments, a Distinctively Active investment company, is committed to providing investors with access to institutional asset managers who act in a sub-advisory capacity. The Touchstone mutual funds and ETFs are advised by Touchstone Advisors, Inc., a registered investment adviser. Touchstone mutual funds are distributed nationally through intermediaries, including broker-dealers, financial planners and institutions by Touchstone Securities, Inc., a registered broker-dealer and member FINRA/SIPC. Touchstone ETFs are distributed by Foreside Fund Services LLC.
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