Season’s Greetings

As the year comes to a close, we want to extend our warmest holiday wishes to you and your team. December is a great time to pause, reconnect, and appreciate the partnerships that make the year meaningful.

Thank you for your continued trust and collaboration—we look forward to working together in the year ahead!

Question of the month

Q: Two GIPS-compliant firms merge. The acquiring firm decides not to continue some of the acquired firm’s strategies. How should it handle the existing composites for those strategies?

A: Even if the strategies are discontinued, the acquired firm’s existing composites must still be presented for historical periods in accordance with GIPS. You cannot remove past performance or create selective composites for the merger. Moving forward, new composites should reflect the acquiring firm’s active strategies only.

Word of the month

Disclosures – your compliance safety net.

Disclosures aren’t just boilerplate—they tell your clients the story behind the numbers. Whether explaining restatements, policy changes, or temporary exclusions, clear disclosures keep your composites trustworthy and understandable.

Event of the month

December is the perfect time for a team review of all composites and disclosures. Check for gaps, unusual portfolio activity, or reporting errors, and make sure all documentation is complete. It’s a practical way to stay compliant and turn year-end review into a learning moment.
Even though your firm’s P&P is reviewed annually, we offer a “special focus” review to help flag anything that could benefit from refinement while ensuring all documentation is complete and compliant. Please contact us if you would like to schedule your complimentary review.

Picture of the month

Fun fact: Chicago’s Millennium Park comes alive each winter with the McCormick Tribune Ice Rink, North America’s largest free outdoor skating rink. Thousands of visitors skate beneath the iconic city skyline, enjoying a festive and magical winter atmosphere. See it on Google maps