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Frequently Asked Questions
Q: How much does TRUSTCOMPARE cost?
A: Depending on the level you choose, it is $1000 (Core Metrics) or $3500 (Advanced Business Metrics), less discounts for certain affinity groups.
Q: What information do I get in the Advanced Business Metrics report that is not included in the Core Trust Metrics Report?
A: You get growth, profitability, fee conversion and other ratios compared at the product line level. This level is for larger Trust organizations that have separate business units with separate cost center accounting.
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 – Trust Association membership. Some affinity groups are eligible for discounts and some will get an additional peer comparison to that group.
Q: I have integrated my retail investment area into the Trust area. I have true dual employees. How relevant will my comparisons be?
A: In order to properly compare the Trust functions, you will be asked to enter data to show a breakdown of the costs and revenue attributed to that function. This will make your comparisons valid. In addition, you will be compared to other organizations that have the same model.
Q: How many participants will there be?
A: Based on subscriptions so far plus verbal commitments, we expect about twice the number of subscribers as there were last year.
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. 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: If you subscribed in the last four years – YES!
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.
Q: It is into the second quarter now and you are finally ready for input. Is this going to be the timeline every year?
A: Absolutely not. Due to the rebuilding of the data entry process, we are later than anticipated. In future years, we plan to open the system for input on January 1.
A: Depending on the level you choose, it is $1000 (Core Metrics) or $3500 (Advanced Business Metrics), less discounts for certain affinity groups.
Q: What information do I get in the Advanced Business Metrics report that is not included in the Core Trust Metrics Report?
A: You get growth, profitability, fee conversion and other ratios compared at the product line level. This level is for larger Trust organizations that have separate business units with separate cost center accounting.
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 – Trust Association membership. Some affinity groups are eligible for discounts and some will get an additional peer comparison to that group.
Q: I have integrated my retail investment area into the Trust area. I have true dual employees. How relevant will my comparisons be?
A: In order to properly compare the Trust functions, you will be asked to enter data to show a breakdown of the costs and revenue attributed to that function. This will make your comparisons valid. In addition, you will be compared to other organizations that have the same model.
Q: How many participants will there be?
A: Based on subscriptions so far plus verbal commitments, we expect about twice the number of subscribers as there were last year.
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. 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: If you subscribed in the last four years – YES!
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.
Q: It is into the second quarter now and you are finally ready for input. Is this going to be the timeline every year?
A: Absolutely not. Due to the rebuilding of the data entry process, we are later than anticipated. In future years, we plan to open the system for input on January 1.
