Quarterly Performance Measurement Checklist

Export quarterly AUM, advisory fee revenue, and recurring vs. one-time revenue from Black Diamond, Orion, or the bank core (Jack Henry, Fiserv DNA). Compare against prior four quarters and trailing twelve months. Flag any single client representing more than 5% of revenue for the concentration review.

Compare against the InvestmentNews Pricing & Profitability Study or Schwab RIA Benchmarking median for firms in your AUM band. Banks: use UBPR peer group data from FFIEC. A margin trailing peer median by more than 500 bps warrants a written explanation.

For banks and credit unions, also pull NIM and efficiency ratio from the call report. Document the drivers behind any quarter-over-quarter movement greater than 25 bps.

Banks and credit unions: confirm Tier 1 capital, total risk-based capital, and leverage ratios remain above well-capitalized thresholds (8%, 10%, 5%). RIAs: confirm working capital sufficient for two quarters of operating expenses per ADV disclosure.

Send via the CRM (Wealthbox, Redtail, Salesforce FSC) using the standard 8-question instrument. Exclude clients onboarded within the last 30 days and those with an open complaint in the compliance log.

Track gross attrition (count of departed households) and net asset attrition (dollars out, excluding distributions and RMDs). Annotate every departure over $500K with a reason code so the trend isn't a black box at year-end.

Pull response-time metrics from the service ticket system. Standard SLA is same business day for portal messages and 4 business hours for phone callbacks. Identify any tickets older than 5 business days for advisor escalation.

Any written complaint goes in the Rule 4530 / state complaint log within 30 days of receipt with disposition status. Include verbal complaints that allege a sales-practice or compliance issue. CCO reviews monthly.

Track median days from signed advisory agreement to funded account at the custodian. Separate ACATS-eligible from manual transfers. Flag any onboarding stuck in NIGO status more than 10 business days.

List every error logged this quarter with detection date, resolution date, and net loss to the firm. The 5-day resolution SLA applies; any error open more than 5 days needs a written explanation. Confirm restitution to client where applicable.

Run the iRebal / Tamarac / Eclipse drift report. Any household more than 5% absolute drift from target without documented suppression goes on the advisor remediation list. Verify suppressions tied to tax considerations are captured in CRM notes.

Match internal fee calculation, custodian fee debit, and client invoice for every billed account. Document the methodology actually used (period-end, average daily, or period-start) and confirm it matches what the IAA disclosed. Discrepancies above $25 trigger a refund.

Verify ADV Part 2A delivery within 120 days of fiscal year end and Form CRS delivery at every new recommendation, account, or service change. Pull delivery logs from the CRM and reconcile against the new-client list. Missing deliveries are remediated this quarter.

Pull a random sample of 10% of new accounts opened this quarter. Confirm CIP completion, beneficial-owner verification for entity accounts (25% threshold), OFAC screening on every party including beneficiaries, and EDD documentation for any PEP. Document each gap and remediation owner.

BSA Officer confirms every SAR filed within 30 days of detection and every CTR filed within 15 days of the reportable transaction. Review narrative quality on any SAR flagged for committee review.

Run sampled lexicon searches in Smarsh, Global Relay, or Bloomberg Vault. Off-channel communications (personal email, unarchived texting) are the largest enforcement risk in the post-2022 SEC sweep. Any rep with a hit gets immediate remediation and supervisory documentation.

Required when the CCO flags open findings or a material weakness. Assign a named owner, a deliverable, and a closure date for every finding. Track to closure in the next quarterly run; repeat findings escalate to the management committee.

Walk the principals through the four pillars: financial, client, operational, compliance. Compare current quarter against trailing four. Capture decisions made and any policy changes adopted.