The old adage that nothing is certain but death and taxes has been attributed to Benjamin Franklin. If Franklin worked in today's financial industry, he might modify that a bit.
The Dodd-Frank Wall Street Reform and Consumer Protection Act has imposed many new requirements on Wall Street. One of those requirements affects how firms save and store certain oral communications, including calls and texts from mobile devices.The technology companies that store and save oral recordings have very different ways or reminding Wall Street of these new requirements.
A recent study on cloud usage in the investment management industry found that not only are cloud adoption rates rising, but so are satisfaction levels. Of 101 senior-level investment management executives surveyed, 87 percent said they are using cloud services and 90 percent of those users said that their chosen cloud model meets or exceeds expectations.
It has been approximately six years since the financial crisis of 2007, and assets under management in the fund management space have now returned to their pre-crisis levels. So does that mean the industry is back to where it was? Do comparable AUMs translate into comparable levels of profitability?