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Frequently Asked Questions
Q: What are you doing to protect my data?
A: We are very serious about data security. Our data entry website is accessed using a username and an encrypted password--passwords are not stored online except as encrypted data. In addition, there are no subscriber-identifiable data stored on the web site (subscribers are identified only by a number, while all identity information is saved on a server located behind our corporate firewall).
Our data entry site features SSL encryption on all transactions; your browser will display a lock icon when you are at the site. The security certificate for our site can be viewed by visiting our data entry site here and clicking on the security seal in the lower right corner of the page. The security certificate also verifies that the site is controlled by TRUSTCOMPARE rather than some other entity.
Your data is only presented to other subscribers in the aggregate, as part of a peer, affinity, or universe group. We will not reveal your data to another subscriber in a non-aggregated form. We treat your data with the same care and concern that we handle our own proprietary data--our success depends on your confidence in our ability to keep your data private and secure.
Q: When will the reports be available?
A: The cut off for the phase I subscription period is April 1st. The reports will be produced within 45 days of that cutoff date.
Q: What do you mean by "affinity groups"?
A: Affinity groups are organizations that have certain things in common. They may be similar in nature--Trust companies or RHF&A retainer clients. They may have affiliations, such as trust association members or clients of various vendors. Some affinity groups are eligible for discounts and some will receive an additional peer comparison report specific to that group.
Q: I am an independent Trust Company. How relevant will the comparisons be?
A: Very relevant! We have data points and output just for Trust Companies.
Q: I have integrated my retail investment area into the Trust area. I have true dual employees. How relevant will my comparisons be?
A: Very relevant! We have provided for fully integrated organizations in the data input process that will allow comparisons of key metrics within this model.
Q: What is the role of the data coordinator?
A: This is the person that gathers the information that needs to be input into TRUSTCOMPARE. This person might be your head of operations but as you make that decision, be aware that the majority of the information needed for input does NOT come from your trust accounting system. Sometimes the subscriber does some or all of the data gathering and input. Sometimes there is a "CFO" type person within the Trust or Wealth Management Division. The data coordinator should have a good overall knowledge of the operation and the different data types that are available, including the Trust Accounting and Financial systems.
Q: Who will be included in my peer group?
A: All participants will be compared to their peers as well as the entire universe. Your peer group will be composed of organizations of similar size, based on revenue. We also evaluate the data to omit from your peer group any organizations we deem significantly dissimilar in model or market. In addition, there may be further comparisons to affinity groups.
Q: If I subscribed in the past, will the data I entered in those years already be in your system?
A: YES! However, we have made changes in the inputs and outputs of the system to enhance the value--there could be additional data points that will need to be entered for previous years.
Q: How much work is involved in entering the data?
A: If you are a new subscriber, it will take some time to gather and enter all the historical data. If you are a current subscriber, we have found that the core metrics level data entry only takes about 30 minutes Of course, that assumes you have gathered all the information.
A: We are very serious about data security. Our data entry website is accessed using a username and an encrypted password--passwords are not stored online except as encrypted data. In addition, there are no subscriber-identifiable data stored on the web site (subscribers are identified only by a number, while all identity information is saved on a server located behind our corporate firewall).
Our data entry site features SSL encryption on all transactions; your browser will display a lock icon when you are at the site. The security certificate for our site can be viewed by visiting our data entry site here and clicking on the security seal in the lower right corner of the page. The security certificate also verifies that the site is controlled by TRUSTCOMPARE rather than some other entity.
Your data is only presented to other subscribers in the aggregate, as part of a peer, affinity, or universe group. We will not reveal your data to another subscriber in a non-aggregated form. We treat your data with the same care and concern that we handle our own proprietary data--our success depends on your confidence in our ability to keep your data private and secure.
Q: When will the reports be available?
A: The cut off for the phase I subscription period is April 1st. The reports will be produced within 45 days of that cutoff date.
Q: What do you mean by "affinity groups"?
A: Affinity groups are organizations that have certain things in common. They may be similar in nature--Trust companies or RHF&A retainer clients. They may have affiliations, such as trust association members or clients of various vendors. Some affinity groups are eligible for discounts and some will receive an additional peer comparison report specific to that group.
Q: I am an independent Trust Company. How relevant will the comparisons be?
A: Very relevant! We have data points and output just for Trust Companies.
Q: I have integrated my retail investment area into the Trust area. I have true dual employees. How relevant will my comparisons be?
A: Very relevant! We have provided for fully integrated organizations in the data input process that will allow comparisons of key metrics within this model.
Q: What is the role of the data coordinator?
A: This is the person that gathers the information that needs to be input into TRUSTCOMPARE. This person might be your head of operations but as you make that decision, be aware that the majority of the information needed for input does NOT come from your trust accounting system. Sometimes the subscriber does some or all of the data gathering and input. Sometimes there is a "CFO" type person within the Trust or Wealth Management Division. The data coordinator should have a good overall knowledge of the operation and the different data types that are available, including the Trust Accounting and Financial systems.
Q: Who will be included in my peer group?
A: All participants will be compared to their peers as well as the entire universe. Your peer group will be composed of organizations of similar size, based on revenue. We also evaluate the data to omit from your peer group any organizations we deem significantly dissimilar in model or market. In addition, there may be further comparisons to affinity groups.
Q: If I subscribed in the past, will the data I entered in those years already be in your system?
A: YES! However, we have made changes in the inputs and outputs of the system to enhance the value--there could be additional data points that will need to be entered for previous years.
Q: How much work is involved in entering the data?
A: If you are a new subscriber, it will take some time to gather and enter all the historical data. If you are a current subscriber, we have found that the core metrics level data entry only takes about 30 minutes Of course, that assumes you have gathered all the information.
