The Survey System (and this Web site) includes a sample size calculator that can help you decide on the sample size (jump to the calculator page for a general discussion of sample size considerations).
If you are interviewing users of a particular type of product, you probably want to ensure that users of the different current brands are represented in proportions that approximate the current market share. An interview is called personal when the Interviewer asks the questions face-to-face with the Interviewee. You can dial random telephone numbers when you do not have the actual telephone numbers of potential respondents.
CATI software, such as The Survey System, makes complex questionnaires practical by offering many logic options. Skilled interviewers can often elicit longer or more complete answers than people will give on their own to mail, email surveys (though some people will give longer answers to Web page surveys). Some software, such as The Survey System, can combine survey answers with pre-existing information you have about the people being interviewed.
Many telemarketers have given legitimate research a bad name by claiming to be doing research when they start a sales call. This is the only kind of survey you can do if you have the names and addresses of the target population, but not their telephone numbers.
Mail surveys allow the respondent to answer at their leisure, rather than at the often inconvenient moment they are contacted for a phone or personal interview. In populations of lower educational and literacy levels, response rates to mail surveys are often too small to be useful.
One way of improving response rates to mail surveys is to mail a postcard telling your sample to watch for a questionnaire in the next week or two.
Remember that if you want a sample of 1,000 people, and you estimate a 10% response level, you need to mail 10,000 questionnaires. These are interviews in which the Interviewees enter their own answers directly into a computer.
As with mail surveys, computer direct interviews may have serious response rate problems in populations of lower educational and literacy levels. The novelty element of an email survey often stimulates higher response levels than ordinary “snail” mail surveys. Email surveys cannot automatically skip questions or randomize question or answer choice order or use other automatic techniques that can enhance surveys the way Web page surveys can. Many email programs are limited to plain ASCII text questionnaires and cannot show pictures. Although use of email is growing very rapidly, it is not universal - and is even less so outside the USA (three-quarters of the world's email traffic takes place within the USA). Web page questionnaires can use complex question skipping logic, randomizations and other features not possible with paper questionnaires or most email surveys. Web page questionnaires can use colors, fonts and other formatting options not possible in most email surveys.
A significant number of people will give more honest answers to questions about sensitive topics, such as drug use or sex, when giving their answers to a computer, instead of to a person or on paper. On average, people give longer answers to open-ended questions on Web page questionnaires than they do on other kinds of self-administered surveys. If your survey pops up on a web page, you often have no control over who replies - anyone from Antartica to Zanzibar, cruising that web page may answer. Depending on your software, there is often no control over people responding multiple times to bias the results. In any case, be sure your survey software prevents people from completing more than one questionnaire.
Scanning questionnaires is a method of data collection that can be used with paper questionnaires that have been administered in face-to-face interviews; mail surveys or surveys completed by an Interviewer over the telephone.
Scanning is less forgiving (accurate) than a person in reading a poorly marked questionnaire. If you are planning to do a Web survey, please also see Additional Tips for Web Surveys following this section.
Allow a “Don't Know” or “Not Applicable” response to all questions, except to those in which you are certain that all respondents will have a clear answer. For the same reason, include “Other” or “None” whenever either of these is a logically possible answer. On paper, computer direct and Internet surveys these four choices should appear as appropriate. Researchers use three basic types of questions: multiple choice, numeric open end and text open end (sometimes called "verbatims"). Rating Scales and Agreement Scales are two common types of questions that some researchers treat as multiple choice questions and others treat as numeric open end questions.
There are two broad issues to keep in mind when considering question and answer choice order. Whenever possible leave difficult or sensitive questions until near the end of your survey. If you are using telephone, computer direct or Internet interviewing, good software can help with this problem. Another way to reduce this problem is to ask only a short series of similar questions at a particular point in the questionnaire.
Reassure your respondent that his or her responses will not be revealed to your client, but only combined with many others to learn about overall attitudes. If the survey contains commercially sensitive material, ask a "security" question up front to find whether the respondent or any member of his family, household or any close friend works in the industry being surveyed. The overriding consideration in questionnaire design is to make sure your questions can accurately tell you what you want to learn. If you are comparing different products to find preferences, give each one a neutral name or reference. Avoid technical terms and acronyms, unless you are absolutely sure that respondents know they mean. If you want only one answer from each person, ensure that the options are mutually exclusive. This question ignores the possibility of someone living in a house or an apartment in the suburbs. Giving a verbal or written label to each point on a scale, instead of just the endpoints, will usually yield higher-quality data, though this may not be practical when there are more than five points on the scale.
Another issue on which researchers differ is whether to use a scale with an odd or even number of points. A question phrased like the one above will force most answers into the middle category, resulting in very little usable information. If you have used a particular scale before and need to compare results, use the same scale.
The desire to please translates into a tendency to pick agreeing answers on agreement scales. Because people like to think of themselves as normal or average, the range of answer choices you give when asking for a quantity or a frequency can affect the results.
The first list of choices makes 4 hours sound extreme, while the second list of choices makes it seem typical. In personal interviews it is vital for the Interviewer to have empathy with the Interviewee. Leave your demographic questions (age, gender, income, education, etc.) until the end of the questionnaire. Exceptions to this rule are any demographic questions that qualify someone to be included in the survey. Paper questionnaires requiring text answers, should always leave sufficient space for handwritten answers.
Leave a space at the end of a questionnaire entitled "Other Comments." Sometimes respondents offer casual remarks that are worth their weight in gold and cover some area you did not think of, but which respondents consider critical.
The Survey System lets you create a Questionnaire Form with the answer choices in two columns.
Questions and answer choice grids, as in the second of the following examples, are popular with many researchers. The second example shows the answer choices in neat columns and has more space between the lines. Surveys are a mixture of science and art, and a good researcher will save their cost many times over by knowing how to ask the correct questions. You may want to design your pages to be up to 980 pixels wide (leaving room for the browser edges and a scrollbar). Recognize that requiring that questions be answered will likely increase the number of people who drop out of a survey in the middle.
Researchers have been looking into the issue of whether it is better to present a survey in one or more long scrolling pages or in a series of separate pages that do not need scrolling.
If you have any questions that require qualifying instructions, include the instructions above or before the question, rather than after it. When you have finished creating the survey and have it up on your Web site, test it thoroughly.
Some survey software lets you rank items by dragging and use sliders to collect numeric input or ratings. You might want to avoid these techniques, if you think people will take your survey on touchscreen devices. The most effective cover letters and invitations include the following elements: Ask the recipient to take the survey. Number mail questionnaires on each page and include the return address on the questionnaire itself, because pages and envelopes can be separated from each other.
If you hand out questionnaires on your premises, you obviously cannot remain anonymous, but keep the bias problem in mind when you consider the answers. The last step in questionnaire design is to test a questionnaire with a small number of interviews before conducting your main interviews. If you change any questions after a pre-test, you should not combine the results from the pre-test with the results of post-test interviews. Design and produce a questionnaire (20 or more questions) for a postal survey, based on the whole garden centre (which is now up and running) or some or other of its products and services.
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Unit 10: An Introduction to Marketing Research Criteria 1 Design and produce a questionnaire (20 or more questions) for a postal survey, based on the whole garden centre (which is now up and running) or some or other of its products and services.
This is a good idea as it will keep the employees on task and will not sit back and do the job at their own pace also this will keep the customers happy as there will be a set date in which the garden will be down and they will be not worried whether their garden will be finish in 2 month instead of some thing like 4 month and a couple of weeks this is just an example of what could happen if we did the contract method.
This student written piece of work is one of many that can be found in our AS and A Level Marketing & Research section.
Dogs should be avoided completely; Cash Cows, Problem Children and Stars need to be kept in a kind of equilibrium.
Due to the protection given by limited liability, shareholders are not personally liable for the company's debts, which will be an advantage. Face-to-face survey - this is a quantitative data, can include both open questions as pre-coded.
The makeup of the population is changing: The Office for National Statistics predicts (March 2005) that by 2015 there will be more people in the UK ages 65+ than there will be children under 16.
Sign up to view the whole essay and download the PDF for anytime access on your computer, tablet or smartphone. Created by teachers, our study guides highlight the really important stuff you need to know. Paul defined cybersecurity and scalability as two primary technology considerations for new managers. Paul continued to place emphasis on customized IT, stating that when it comes to outsourcing, it is imperative that a firm carries out proper due diligence in choosing a provider to meet the firm’s unique needs.
In addressing the SEC’s increasing cyber expectations, Paul noted the importance of having a Written Information Security Plan (WISP) in place.
In addition to WISP development and implementing additional policies (Access Control, Personal Information Security, Incident Response, etc.), and, of course, employing layers of security across infrastructure, employee awareness and training is the last critical piece of the puzzle. Paul concluded by describing the five most common mistakes new launches make during the start-up phase, and how to avoid them.
You haven’t fully considered the multiple roles technology plays in your current work environment. This uncertainty calls for careful consideration of what type of space is best suited for your firm. Given the variety of different spaces available, the timeline for new firms to be up and running can vary considerably.
Segal noted that despite increased regulatory exposure, the general insurance market for hedge funds has reacted quite favorably. If you’re targeting institutional investors, Segal recommends looking at certain coverages right away.
Specifically, on the cyber front, Palagonia outlined the differences between first party and third party standard coverage.
In commenting on the SEC, our guests also touched upon regulations involving vendor relationships and third party risk. Both speakers agreed that there are many variables impacting the cost of a cyber insurance policy: among them the cost of the business, the industries served, revenues, number of employees, and retention. Our guests concluded by emphasizing once more how scary the escalation in cybercrime has become. Exempt Reporting Advisors (ERA) – An exempt reporting advisor is any advisor that takes advantage of the venture capital fund advisor exemption or the private fund advisor exemption.
Make sure marketing and advertising material are in compliance with the anti-fraud provisions of the Advisers Act preventing advisors from engaging in manipulative activity.
From D Filings – Form D is a filing required by private investment funds engaged in a regulation D offering under the Securities Act of 1933. Cybersecurity – This has become one of the biggest focuses of the SEC since April of 2015. For example, adopting an incidence response plan will help to mitigate the aftermath of a breach.
Insider Trading – Insider trading refers to when a person uses nonpublic information to make a trade. Virtual family offices first gained modest popularity in the 1990’s, particularly in London, Zurich, and New York, as wealthy families heard about the benefits of having their own single family office and desired the direct control that can be designed into such a structure.
One might wonder why a family would set up a virtual family office rather than hiring a multi-family office or establishing a full-fledged single family office. In my experience, this is not common practice but it can be a tremendous benefit for families that use this strategy. Cost: In theory, your gross costs of running a single family office are reduced if you select highly-experienced outsourced partners.
As many of you likely know, virtual family offices are the exception, not the rule, when it comes to family office structures.
Service Provider Selection Risk: Since most of operations and the investment team are outsourced, your ability to select the right service providers at the right price is critical.
In addition to having a compass, having the right experienced and well-connected advisory board constructed helps ensure that you can review the most well-qualified service providers instead of the ones who live in your city, or are family friends, etc.
Speed: Since most of your team is outsourced while operating a virtual family office, you may be disappointed in having to wait a half day or more for a reply from a provider when a critical event such a sale of an asset, end of a tax period, public offering, natural disaster, or death in the family has occurred.
Confidentiality: Naturally, when everything you invest in is reviewed or managed by outside partners, there is a higher chance of others seeing your investment portfolio and benefiting from that knowledge.
As I noted in the beginning of this piece, the virtual family office concept is still a relatively new one. He went on to note that the operational due diligence (ODD) industry has grown dramatically post-Madoff. Given the importance of outsourcing from an investor perspective, service provider selection must be carried out carefully. Knowledge and Experience in Investment Strategy – Can they do bank debt, trade claims, etc.? Breadth of Services – Can they provide audit and tax services under one umbrella or compliance and technology services?
Fund structure: Is it a domestic LP or full blown master feeder structure with onshore offshore feeders and an offshore master? Size of organization: This will determine whether an organization launches in a hedge fund hotel or rents their own office space.
To hear more from Frank Napolitani about startup budgets, ODD preparation and best practices, listen to the full replay below. Benefits: Benefits will be one of the most important factors your employees will consider when deciding to work for you. To hear more of what Maya shared during her webinar, including information on creating employee handbooks, and how the Affordable Care Act is affecting insurance coverage, listen to the full webinar replay below. Many firms create a 10-20-page written information security plan that formalizes the definitions and policies that govern the creation, access, and deletion of confidential information and computing services.
Regulatory Risks – Following the right security practices will enable you to achieve clean audits from industry and government regulators.
Personal Email – Even if your employee is following all of your processes and practices with work-related email, you could still be vulnerable if her private, personal email is breached or corrupted. By developing an internal culture of security, the organization does far more than deploy and configure bits and bytes.
The cybersecurity landscape is constantly changing and today the cyber threat actors range from organized crime to state sponsors. When it comes to advanced persistent threats, the cyber criminals often use targeted social engineering tactics including spear phishing. Real-time intrusion detection and prevention systems that include 24x7 monitoring by security experts are a key defense in finding and stopping network intruders. Show investors that you have a 3+ year budget for working capital without any performance fees. Make sure to properly allocate expense and investment opportunities if you decide to launch a single investor fund or separately managed accounts. When it comes to seed arrangements, pick the right partner and put parameters around potential issues that could arise. Become familiar with the changing expectations on the cybersecurity front, from both investors and regulators. The Cybersecurity Interpretive Notice applies to all membership categories--futures commission merchants, swap dealers, major swap participants, introducing brokers, forex dealer members, commodity pool operators and commodity trading advisors. But whatever approach is taken, the Cybersecurity Interpretive Notice requires Members to adopt and enforce an information systems security program (ISSP) appropriate to its circumstances. Description of ongoing education and training related to information systems security for employees. NFA recognizes that some Members may face a significant challenge implementing ISSPs by the March 1, 2016 effective date, and any programs that are adopted will be refined over time. Eze Castle Integration’s Cybersecurity Practice Team is available to create Written Information System Security Programs for firms. Investment firms often place too much emphasis on managing portfolios and not enough on managing the business as a whole. The decisions you make from the outset will define how your firm is regarded within the industry, by both investors and competitors. Since the 2008 economic collapse and scandals caused by the likes of Madoff, transparency has become a key requirement for investors. By investing upfront in operational and technology systems that can support your business and propel operations, you provide your firm with marketing tools that will far surpass the capabilities of a presentation or pitch book.
These critical considerations are ideal for new managers to address as they enter the startup phase. Operating capital may be limited in the first few years after your launch, so careful budgeting and long range planning will serve your firm well. Governmental oversight of the financial industry has evolved dramatically in the last decade. Apart from registration, you should also determine if there are any legislative implications for your new firm. Since 2014, cybersecurity preparedness is also a critical area of focus for regulatory bodies.


Cloud services offer more flexibility than traditional infrastructure models and, beyond cost-savings, can reap rewards for new launches. Of course, one of the greatest benefits to using an outsourced cloud service is professional management and monitoring. Beyond infrastructure safeguards, it is critical that firms implement policies and procedures to protect firm and client assets.
One of the first decisions you’ll need to make as a new investment manager is how to set up your hedge fund. Based on these structural decisions, you’ll need to determine your tax implications as well as regulatory requirements. Once upon a time, hedge fund marketing was generally frowned upon, and in some cases, illegal. During the initial marketing phase when a new launch is looking to secure startup capital, it’s important that firms understand their key selling points.
Every successful hedge fund needs smart partners on their side, therefore deciding what service provider your firm is going to engage with is one of the most critical decisions your new startup will make.
Positively, using best-in-class vendors will say a lot to investors about the value you place on your firm.
While the list of considerations is surely long for new hedge fund managers, we've whittled it down to 10 Keys to Launching a Hedge Fund Successfully - a guide for new startups to use when setting off on their new journey. The Securities and Exchange Commission took major strides to regulate investment firm cybersecurity practices in 2015, with the release of multiple guidance updates (Click for the September 2015 update). News media, government agencies and political candidates need to know what the public thinks.
It discusses options and provides suggestions on how to design and conduct a successful survey project. Statisticians know that a small, representative sample will reflect the group from which it is drawn. Totally excluding all bias is almost impossible; however, if you recognize bias exists you can intuitively discount some of the answers. For example, a survey for a product aimed at retirees will not be as biased by daytime interviews as will a general public opinion survey. It is sometimes useful to establish quotas to ensure that your sample accurately reflects relevant sub-groups in your target population.
Alternatively, you may want to ensure that you have enough users of each brand to be able to analyze the users of each brand as a separate group. Personal interviews can take place in the home, at a shopping mall, on the street, outside a movie theater or polling place, and so on.
For example, you can find people who have seen a film much more easily outside a theater in which it is playing than by calling phone numbers at random. It draws its clientele from a specific geographic area surrounding it, and its shop profile also influences the type of client. If the Interviewers are using CATI (computer-assisted telephone interviewing), the results can be available minutes after completing the last interview. It can automatically skip questions, perform calculations and modify questions based on the answers to earlier questions.
Consequently, many people are reluctant to answer phone interviews and use their answering machines to screen calls. This, in effect, eliminates many immigrant populations that form substantial markets in many areas. Another is to follow up a questionnaire mailing after a couple of weeks with a card asking people to return the questionnaire.
One possibility is to send a dollar bill (or more) along with the survey (or offer to donate the dollar to a charity specified by the respondent). You may want to check with your local post office about bulk mail rates - you can save on postage using this mailing method.
Recent studies of potential blood donors have shown respondents were more likely to reveal HIV-related risk factors to a computer screen than to either human interviewers or paper questionnaires. The Survey System can ensure people are not asked questions they should skip based on their earlier answers.
Computer-aided interviewing is still novel enough that some people will answer a computer interview when they would not have completed another kind of interview. Many programs have no check to eliminate people responding multiple times to bias the results. People who have email are different from those who do not, even when matched on demographic characteristics, such as age and gender. Many “average” citizens still do not possess email facilities, especially older people and those in lower income and education groups. The Survey System can produce paper questionnaires that can be scanned using Remark Office OMR (available from CRS). Scanning programs have various methods to deal with text responses, but all require additional data entry time. If you present a 20-page questionnaire most potential respondents will give up in horror before even starting. If you are surveying members of an organization, the members may be more likely to respond if they think the organization is asking their opinions on how it can best meet their needs. If you want to limit the survey to users of a particular product, you may want to disguise the qualifying product. The lowest figure is probably truest, since it represents the percentage that favor that option regardless of the alternatives offered.
Avoid questions such as "Do you buy frozen meat and frozen fish?" A "Yes" answer can mean the respondent buys meat or fish or both. You will get different answers from asking "What do you think of the XYZ proposal?" than from "What do you think of the Republican XYZ proposal?" The word "Republican" in the second question would cause some people to favor or oppose the proposal based on their feelings about Republicans, rather than about the proposal itself. Do not call one "A" and the second one "B." This immediately brings images of A grades and B grades to mind, with the former being seen as superior to the latter. LAUTRO, AGI, GPA, EIEIO (Life Assurance and Unit Trust Regulatory Organization, Adjusted Gross Income, Grade Point Average and Engineering Information External Inquiries Officer) are all well-known acronyms to people in those particular fields, but very few people would understand all of them. A question like "Do you use regular or premium gas in your car?" does not cover all possible answers. While logically the percentage that strongly agrees that "X is good" should exactly equal the percentage that strongly disagrees that "X is bad," in the real world, this is unlikely to be true. In general, Interviewers should try to "blend" with respondents in terms of race, language, sex, age, etc. By then the interviewer should have built a rapport with the interviewee that will allow honest responses to such personal questions. Many products have a wide range of secondary uses that the manufacturer knows nothing about but which could provide a valuable source of extra sales if approached properly.
Using answer grids and presenting answer choices in two or more columns can look attractive, save space and help avoid vertical scrolling.
The one exception to this rule is if the section start includes some instructions, and you have decided to randomize the order of the questions in the section. Make sure that all the pages look as you wish and that all skips, randomizations and other logic work as you intend.
Some people will put in their names, making it possible for you to recontact them for clarification or follow-up questions. Ideally, you should test the survey on the same kinds of people you will include in the main study. The Survey System will invariably provide you with mathematically correct answers to your questions, but choosing sensible questions and administering surveys with sensitivity and common sense will improve the quality of your results dramatically. Describe how you would pilot the questionnaire and evaluate the results using a recognized sampling method (which needs to be briefly described). Then once they have checked through these and they feel it is acceptable apart from the changes that are needed then I will take it back and edit it in a way that they would not feel so personnel, then finally I would give it back to the same people and ask them to go through the questions one more time to make sure that I have done the correct changes that they have asked me to do and see if they have missed any questions the first time round, then once they have checked it thoroughly, I can now take the question onto the public in the area and hopefully with all of the precocious that I took before will help me into the public in getting the answers that I need, as well as the public not feeling that I am not getting them to answer questions that they feel is to personnel to answer. In the research method observation this would prove to be one of those research methods that we give us the necessary information that we need.
The funds generated by a company's Cash Cows are used to turn problem children into Stars, which may eventually become Cash Cows. Can achieve robust sample allowing generalisation if sufficient numbers are surveyed, can be expensive and time consuming to the administrator, its also ideal for gathering sensitive information or exploring complicated issues. All Rights Reserved.Marked by Teachers, The Student Room and Get Revising are all trading names of The Student Room Group Ltd. Enacting and employing policies to mitigate security risk is critical, but documenting those policies is equally as important -- not only to meet the demands of the SEC, but to demonstrate to clients and investors that your firm takes cybersecurity preparedness seriously. Policies can be documented, Paul explained, but if employees are not trained to identify and mitigate cyber risks, the policies will be ineffective in protecting a firm.
In reality, a successful approach means negotiating, purchasing and deploying multiple systems from multiple service providers.
Before you commit to any tech solutions, envision how your fund will look in the long term.
Consider the work you’re doing as an employee, and consider which systems supported that work. Acknowledge that you will require IT systems to build servers, manage networks, and handle day-to-day needs. Temporary office suites, for example, provide the greatest flexibility for firms still determining their budgets, headcounts, etc.
Still, there are factors that may influence even the fast track timeline, such as, bringing in an attorney to negotiate the lease and allowing a landlord 30 days to approve or disapprove of a prospective tenant.
In the past two or three years, many insurance companies have entered the marketplace for underwriting for hedge funds on both the property and casualty side.
First party coverage refers to ransomware or anything that poses an immediate need for a business to take action.
These are, for example, claims against a client alleging privacy violations, network security compromised by a vendor, or media liability for images or information posted online.
For a first-time buyer with good controls and no losses, Palagonia estimates a $10,000 premium minimum cost for a $1mm limit. Palagonia cited a PwC report that states a decline of financial losses in the financial services industry of 12%, yet a 183% increase in theft of personal data and intellectually property. Throughout the webinar, Shelly reminded attendees about the importance of undertaking compliance measures right at the start of a launch, not only for regulatory purposes, but to demonstrate to prospective investors commitment to compliance. The private funded advisor exemption is available to investment advisors whose clients are solely comprised of private funds who have less than $150 AUM and are not required to be registered as an advisor in the state where their principal office is located. This technically only applies to registered advisors, but the SEC has championed the importance of organized record keeping. Regulation D is the safe harbor exemption most private funds rely on to offer and sell interest. They have proposed numerous measures that advisors should address in regards to cybersecurity, such as conducting periodic assessments of location and sensitivity of information and the vulnerability of the systems. Shelly conveys that while the SEC does not have any official regulations in regards to cybersecurity, they are using other regulations, such as Regulation S-P (a privacy regulation) to go after advisers who are alleged to have failed to effectively safeguard personal information of their clients or investors. Insiders of an issuer, which include officers, directors, and other special classes of persons, are never allowed to trade on non-public material.
A virtual family office and single family office are essentially one in the same, but the former model is most typically used by families with just $20M-$200M in assets under management, where a customized model is needed but not all of the overhead and support of a fully-fledged single family office. As the family office industry has expanded over the past 20 years, this term has become more common and will likely gain traction in the future as families continue to seek out customized, affordable family office solutions. They may see you acquiring companies in a certain industry, or have access to potentially damaging facts about your financial situation or solvency. While a manager’s pedigree, investment process, and performance used to take precedence, it is now front, middle, and back office operations plus legal compliance that are most important.
Because they collaborate with many ODD teams, research teams will immediately have a feel for what is right and what is wrong with a manager from a front, middle, and back office perspective. The differentiating factor, he explains, is AUM, and in turn the number of employees and the portion of labor that is outsourced versus internalized. These firms will rely heavily on their prime broker and administrator for real-time reports, EMS and OMS for trade execution, and in some cases IT.
Beyond investment priorities and strategy decisions, new managers are also grappling with securing office space, ordering technology, engaging with service providers, and much more.
Will you outsource certain functions and leverage a Professional Employer Organization (PEO)? For example, can the provider handle the unique payroll items that hedge funds often implement such as deferred compensation and different bonus schemes?
That can be everything from a definition of personally identifiable information (PII), a description of user access privileges and roles, or policies regarding USB thumb-drives. It commits to defining and following thoughtful, far-ranging policies to eliminate the needless internal vulnerabilities that often go unrecognized. APT intrusions are often focused on high-value information and sectors such as the financial industry.
In a spear phishing incident, criminals target specific companies or individuals and conduct background research to compile employee names, titles and contact information.
Not only must emerging managers evaluate traditional deployment strategies, but consider current factors influencing the financial landscape. There was quite a bit of content discussed during the 1-hour event, so we’ve pulled out some key takeaways. Target those who have a history of being receptive to founder share class and who may offer lower management and performance fees. Recognize where the private cloud has an edge: high-touch, industry-specific service and support, scalability and application integration, and security and compliance.
Value is derived from knowledge of the application, knowledge of business, and having a dedicated support team. The NFA's Interpretive Notice to NFA Compliance Rules 2-9, 2-36 and 2-49 entitled Information Systems Security Programs requires Member firms to adopt and enforce written policies and procedures to secure customer data and access to their electronic systems. Executive-level participation and annual review of the information security program is expected. NFA expects to devote appropriate resources, such as providing additional guidance, to assist Members as they develop and implement their ISSPs. By taking into account all aspects of your firm and relying on trusted service providers to support operations, you prove to the greater investment industry that you should be taken seriously and can operate successfully in a challenging environment. Nothing less than full disclosure is expected of firms from the newest launches to the most established investment firms. And while that goal is certainly reachable, the process does not stop on your go-live date. These decisions can put your new firm on equal footing with established firms and demonstrate to investors that you are built to succeed.
Our advice centers on everything from marketing and operations to IT budgeting and service provider selection. Don't forget to visit Hedge IT on Thursday as we reveal the last of our key considerations for starting a hedge fund.
Hedge funds, private equity firms and registered investment advisers now operate in a world where they are beholden to regulatory bodies with growing expectations and requirements. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which redefined the registration requirements for hedge funds, also set forth new reporting requirements and standards for safeguards.
With the prevalence of cyber threats and attacks, the SEC’s Office of Compliance and Examinations (OCIE) has incorporated cybersecurity into its examination targets. Firms can add users nearly instantly – a welcome benefit for startups looking to ramp up quickly. You can do this by conducting employee awareness training to keep all users informed and educated about the cyber environment and the threats that may arise.
Be sure to come back to Hedge IT next week as we reveal more of our key considerations for starting a hedge fund. Your organizational structure will typically reveal itself as a limited partnership (LP) or limited liability company (LLC). In the United States, the Securities and Exchange Commission (SEC), under the Dodd-Frank Act, requires asset managers managing more than $150 million in AUM to register and hence meet a host of reporting requirements. It wasn’t until the JOBS Act was enacted in 2013 that hedge funds finally had the opportunity to shed their fears of noncompliance and publicly market and advertise their funds.
As a new firm, you won’t be able to manage all aspects of your operations internally. If you outgrow your vendor quickly, it can be a significant operational disruption to transition to a new one. And be sure to come back to Hedge IT later this week when we'll be sharing an excerpt from our brand new whitepaper on the same topic! It does not provide instruction on using specific parts of The Survey System, although it mentions parts of the program that can help you with certain tasks. If you are doing telephone or Web page interviewing, The Survey System's optional Sample Management or Internet Module can help you enforce quotas. These characteristics may differ from the target population and create a non-representative sample. It can check the logical consistency of answers and can present questions or answers choices in a random order (the last two are sometimes important for reasons described later). Since over half of the homes in the USA have answering machines, this problem is getting worse. However, most researchers do not use bulk mail, because many people associate "bulk" with "junk" and will throw it out without opening the envelope, lowering your response rate. The National Institute of Justice has also found that computer-aided surveys among drug users get better results than personal interviews. These automatic skips are more accurate than relying on an Interviewer reading a paper questionnaire. The Survey System’s Email Module will only accept one reply from each address sent the questionnaire. Other software can scan questionnaires and produce ASCII Files that can be read into The Survey System. They (or family or friends) may work for the company that commissioned the survey - or for a competitor. For example, a number of recent polls that ask Americans if they support the death penalty "Yes" or "No" have found 70-75% of the respondents choosing ”Yes.” Polls that offer the choice between the death penalty and life in prison without the possibility of parole show support for the death penalty at about 50-60%. Similarly with a question such as "Have you ever bought Product X and, if so, did you like it?" A "No" answer can mean "never bought" or "bought and disliked." Be as specific as possible. It is better to give each a "neutral" reference such "M" or "N" that do not have as strong a quality difference image. Many surveys use a ten-point scale, but there is considerable evidence to suggest that anything over a five point scale is irrelevant.
Someone who rates an item "4" on a five-point scale might rate that item anywhere between "6" and "9" on a ten-point scale. Mail and Internet questionnaires should do the same, although the rapport must be built by good question design, rather than personality. In one third world market, a major factor in the sale of candles was the ability to use the spent wax as floor polish - but the manufacturer only discovered this by a chance remark. If your sample consists of people at work, you may use more graphics, since those people usually have faster connections, but even they appreciate faster downloads. Whenever you require an answer make sure the available options include all possible answers, including “don’t know,” “decline to state,” or “not applicable,” if there is any chance that these may represent some people’s answers.
Unfortunately, these formats are a bit harder for some people to understand than a simple vertical list of answer choices. There is some evidence that grouping several similar questions on a page may result in answers that are more similar than if the questions were on different pages.
A test on your own PC or a paper copy of the questionnaire does not guarantee that the copy on the Web will look and act the same. Include the name and telephone number of someone the respondent can call if they have any questions. Using a postage stamp often increases response rates, but is expensive, since you must stamp every envelope - not just the returned ones. If that is not possible, at least have a few people, other than the question writer, try the questionnaire. This will aid us a lot, in our pursuit to competitor with Wyle vale which is situated a far distance from us but still a strong competitor, as it is the next closet garden centre.


McDonalds has to have the right ordering system, staff that can appropriately use the computer system, and facilities for people that have certain disabilities, these all come under having the right technological communication methods. One of the most common mistakes new launches make, according to Paul, is assuming that they only require the basic bare minimum in terms of technology. Brand and reputation, long lasting relationships with clients, and industry experience are some of criteria Paul feels are most important when selecting a service provider. The goal of a WISP, Paul continued, is to protect the confidentiality, integrity, and availability of critical information, information assets and sensitive materials for your firm and those of your clients. Friedland reminds new managers to remain open-minded, conduct a comprehensive search and ensure they have at least one back-up option when it comes to real estate.
In light of this trend, emerging and established firms alike must consider measures to mitigate these growing risks.
Rates are dropping dramatically, and coverage terms are relatively favorable at this point in time. These costs may also include notification to the affected individual in the event of a breach, forensics, and crisis management expenses. Or, the company may embed some type of cyber social engineering coverage within a fidelity bond. Our speakers highlighted the importance of awareness and education in cyber risk mitigation, particularly how firms should be training their employees to see and stop threats.
This filing is required to be made within 15 days after the first sale of interest and must be updated on an annual basis.
Even non-insiders, including investment advisors, are prohibited from trading while in possession of non-public material. During the 30-minute interview, Frank shared insights on the benefits of outsourcing to service providers as well as advice on how to conduct proper due diligence on front, middle, and back office operations. Now, as the employer for the first time, you’re expected to fill that role seamlessly. You’ll need to remit taxes, making sure all the employer-side taxes are accurately collected. Mandatory benefits typically include benefits such as worker’s compensation and short-term disability. The bank believes hackers executed a hack that allowed $81 million to be taken from the bank’s foreign exchange account at the Federal Reserve Bank of New York. And the way that starts to happen is through systemic and comprehensive training practices. Prepare an institutional set of documents up front if you are looking to attract institutional money versus high net money.
They include risk assessment, governance, training, access control, vendor management, and information sharing.
Additionally, firms must provide employees training during the onboarding processes as well as periodically during employment.
That means you have to demonstrate to investors that you take your business seriously and that you’ve made investments in your operations, technology, etc. As such, fund managers should take this to heart and make strong efforts to comply with increasing investor expectations.
From your legal paperwork to security practices and technology safeguards, the importance of documentation cannot be understated in today’s environment. For example, system safeguards such as data protection, disaster recovery measures and email archiving are requirements under Dodd-Frank. Having released two extensive questionnaires and several risk alerts focused on security, the SEC has made it clear to investment firms that they will be investigating the practices employed at firms and increasing expectations for the future. Startups have a variety of options when it comes to settling on their technology infrastructure.
Users can gain access to email, file services and applications from virtually anywhere, and built-in disaster recovery provides confidence that everything is protected from the inside out. Users should understand how security threats may present themselves (phishing schemes, social engineering, etc.) as well as how they can become cybersecurity assets to your firm.
You may also consider a master-feeder fund structure, which could provide favorable benefits, and a domestic or offshore choice may also come into consideration.
There are a variety of communication options firms can use to solicit investors – from traditional print and websites to social media, video and email marketing. Determine what exactly your marketing pitch will be and how you plan to go about promoting it.
Again, your CRM system comes into play here and will assist you in tailoring your messaging for future communications.
The due diligence process plays an important role here; you should thoroughly vet service providers to ensure you have the information necessary to assist you in the decision process. From a technology perspective, investors will appreciate that you’ve made an investment in systems and processes that support your business and trading operations, and it will give them peace of mind knowing your IT vendor is equipped to handle any issues that may arise.
Successfully operating a new startup beyond the first year is a feat many managers struggle to accomplish, therefore it's critical for emerging managers to gain a full understanding of the industry that awaits them and the hurdles they should expect to face.
If you conduct an employee attitude survey or an association membership survey, the population is obvious. If you want your survey to accurately reflect the general population's opinions, you will want to ensure that the percentage of men and women in your sample reflect their percentages of the general population. As a rule of thumb, the best response levels are achieved from highly-educated people and people with a particular interest in the subject (which, depending on your target population, could lead to a biased sample). If you have purchased a mailing list from a supplier, you may also have to pay a second (and third) use fee - you often cannot buy the list once and re-use it.
Employees are also more often willing to give more honest answers to a computer than to a person or paper questionnaire. On the other hand, email surveys are limited to simple questionnaires, whereas Web page surveys can include complex logic. At this stage they are probably best used in a corporate environment where email is common or when most members of the target population are known to have email. Many firms create a separate research company name (even if it is only a direct phone line to the research department) to disguise themselves. Polls that offer the alternatives of the death penalty or life in prison without the possibility of parole, with the inmates working in prison to pay restitution to their victims’ families have found support for the death penalty closer to 30%. One way to eliminate this problem is to ask half your respondents if they agree that "X is good" and the other half if they agree that "X is bad." You could then reverse the answers given by the second group.
For example, always use the same color to represent an instruction, which is not part of a question per se. If you think your target population may have some trouble understanding how to fill out the survey, use these formats sparingly. Some people may dislike scrolling down a long page, while others may dislike the brief wait between questions when each is on a different page. This kind of test run can reveal unanticipated problems with question wording, instructions to skip questions, etc.
When we handed out the questionnaire that I have type I am gland that before I did hand out the questionnaire I decided to get some people that I new to go through them and check for spelling mistakes and any question that are to personnel for the public answer. He urges new managers to pick an IT solution with operational growth in mind -- considering the business not at the onset, but in three to five years. Similarly, confidentiality issues may arise from shared space, or desk share arrangements, unless a firm has the right synergy with the host firm.
In addition, there are risks associated with this type of arrangement, specifically, the lack of a direct legal contract with the landlord. During this week’s session of our Hedge Fund Launch Webinar Series, Nicole Segal and Gamelah Palagonia of Willis Towers Watson spoke with us about how to leverage cyber and privacy liability insurance, as well as offered insight in to the evolving nature of cybercrime. For example, many of the required coverages for startups come in business packages at oftentimes reasonable costs. She noted that cyber liability policies are one of the only products that include insurance for fines and penalties in addition to regulatory actions.
Data owners are responsible for any breaches no matter how many parties they have contracts with storing or processing their data. The basic information required involves certain persons related to the fund, the total amount of sales, number of investors participating in the offering, etc. To kick off our Hedge Fund Launch Webinar Series, we invited Maya Cohen, Senior Vice President at TriNet, to share HR priorities for startup hedge fund managers. Consider how your firm’s structure (LLC or LP) will affect you from a tax perspective. Realistically, as a new launch, you’ll probably outsource at least some HR functions.
Many employees are financially savvy and want to select their own funds for retirement assets. It appears that the initial point of entry for the hackers was a spear-phishing email, potentially sent weeks before the fraud took place, which allowed the criminals time to remotely monitor and probe the bank’s networks without detection. Obtaining such details and observing communications provides criminals with the tools to mirror email addresses, website URLs and dialect. Tools such as risk management or document management systems can give extra peace of mind to demanding investors with high expectations. Regardless of the assets your firm is launching with, you will be expected to have sophisticated and comprehensive policies and procedures in place from day one to combat cyber threats. With the birth of cloud technology, firms can save on upfront capital expenditures and host their infrastructure in the cloud – providing flexibility within those startup budgets.
A reputable cloud services provider not only provides world-class infrastructure and resiliency; it also assumes responsibility for the management and daily maintenance of your cloud environment. Investors also have high expectations, and before they will even consider allocating money to your firm, they want to understand what protections you’ve put in place to protect their assets. Many of these decisions will be impacted by the assets you plan to launch with or if you’re using or planning to solicit seed or acceleration capital. Regardless of how, firms should build comprehensive marketing plans that will support their business beyond the launch phase.
During this initial period, consider investing in a customer relationship management (CRM) tool to help you monitor and track investor communications.
If you are trying to determine the likely success of a product, the target population may be less obvious. This is to avoid possible bias, since people rarely like to criticize someone to their face and are much more open to a third party.
It does not tell you whether the pasta was dried, frozen or canned and may include someone who had pasta in a restaurant.
This is extra work, but it may be worth it if it is important to get the most accurate percentage of people who really agree with something. If you present a list of choices that people have to think about, and only some of the choices are initially visible, there will be a bias in favor of those initially visible choices. The questionnaires came back with some positive results which is good result as we can now process the information that we have collected from our researchers ?? The service provider should not only address day-to-day operations but also anticipate potential problems down the road. Direct spaces offer tenants a direct relationship with the landlord, yet tend to be costly.
In short, it is an arrangement in which a landlord, for a certain period of time, is permitted to go after a tenant that has defaulted on their lease and refuses to vacate.
She recommends firms take steps to ensure third party contractor protects data in line with regulations.
The good news is the market for hedge funds and financial institutions is soft, according to our experts.
Shelly points out that no violation is too small for the SEC, therefore it is highly recommended to update your information in a timely manner. On the elective side, it’s important to remember that not everything needs to be implemented day one. Compliance is critical, so depending on your internal bandwidth, it may make the most sense to consider using an outside firm to support your team. The end result is the criminal’s identity masqueraded as a legitimate, trustworthy source. With competition for investor allocations at an all-time high, you’ll have to work to determine what sets your firm apart from the others. Be sure to enable your firm’s processes to comply with SEC recommendations including risk assessments, infrastructure practices, policy documentation, etc.
With hackers savvier than ever and financial firms as known targets, it’s critical that firms establish a comprehensive approach to security to not only meet investor and regulatory demands but also to protect firm assets and mitigate business risk. I'm just a little more passionate than most!??What is Network Marketing? ?Network marketing is a type of business opportunity that is very popular with people looking for part-time, flexible businesses.
You must make a decision about your sample size based on factors such as: time available, budget and necessary degree of precision. It is better to say "Have you bought pasta (other than in a restaurant) in the last three months?" "If yes, was it frozen, canned or dried?" Few people can remember what they bought more than three months ago unless it was a major purchase such as an automobile or appliance. Family income 10,000-29,000 30,000-39,000 40,000-49,000 50,000+ (Circle the appropriate) 4.
For a proactive approach, he suggested working with a broker that carefully evaluates sub landlord risks. Friedland makes the distinction between quality and opulence, noting that many firms avoid spaces that project spending investors’ money in a frivolous way. In the financial services industry, while there have indeed been breaches, losses, and successful phishing schemes, nothing yet has been to the scale of the Target or Anthem breaches, for example.
Staggering benefits as the firm grows is a great way to continue to support your employees over time. If you don’t learn how to differentiate yourself, your chances of getting lost in the crowd are much higher. If not forthcoming, you may open up your firm to serious regulatory and criminal prosecution. Your cloud services provider should act as your trusted technology adviser and, as such, give you the flexibility and time you need to focus on your investment priorities without worrying about security updates and patch controls.
Some of the best-known companies in America, including Avon, Mary Kay Cosmetics and Tupperware, fall under the network marketing umbrella. ?How Much Money Can I Make?Your earning potential is completly up to you.
If you do not interview the right kinds of people, you will not successfully meet your goals. Other common requests are buildings with a floor plan proportionate to the size of a respective firm as well as built-in amenities.
Due to the confusing landscape that now exists, Shelly suggests developing and following written procedures and updating these policies as necessary.
There is no right or wrong answer, but the majority of hedge funds across the industry treat their partners as W2 employees. At a minimum, most firms offer medical, dental and vision benefits, but many also consider 401K plans, group life insurance plans, etc.
Similarly, it is best to eliminate people working in the advertising, market research or media industries, since they may work with competing companies. Finally, make sure your service providers properly encrypt data when it’s in transit, and retain it for only as long as they need it to perform the service that you contracted them to do.
Segal echoed this advice, recalling a recent hedge fund contact review she conducted in which 10 out of 10 vendor contracts said they were not responsible for a breach of data.
Shelly also encourages implementing information barriers to limit who has access to non-public information. These are just a sample of the decisions you’ll need to make as you start your hedge fund.
ASEA enhances and activates the native antioxidants needed to protect and detoxify the cells and at the same time supplements the signaling molecules needed to repair or replace damaged cells and restore healthy tissue and immune function.
Balanced mixtures of these molecules act as the carriers of the signals sent between cells that regulate the proper function of immune system and efficient maintenance and regeneration of tissue.
The Reactive Oxygen Species arms the immune system and Reduced Species activates the antioxidants.
A careful (homeostatic) balance between these two species is maintained in all cells and tissues.
When a problem or damage occurs, this balance is disturbed, this sends a signal to cause the cells and tissues to defend and repair themselves, thus restoring healthy balance. Under what circumstances should I be careful about taking ASEA?ASEA is safe and native to the body; these redox signaling molecules generally do not interact with any medications but may make the action of some nutrients and blood messengers (such as hormones and insulin) more efficient. ASEA does not stimulate or repress immune response, but may tend to normalize and make more efficient natural immune response.ASEA is not recommended for pregnant or nursing mothers, as is recommended for most supplements. Even so, studies are still being done to understand the action of ASEA on tissues and to measure biomarkers in the blood, eyes and skin. All such studies have shown and continue to show zero toxicity, comparable to neutral salt water solutions. Years of studies have shown the mixture of redox signaling molecules in ASEA do not cause irritation, inflammation of any sort by direct contact.
ASEA contains the same balanced mixture of stable redox signaling complexes (including chlorine species) found in living cells. Such studies have already been done on the redox signaling complexes in ASEA, costing millions of dollars and many years.Where chlorinated water is a known irritant, ASEA is soothing.
Where highly-chlorinated water is easily shown to be toxic, ASEA has amply demonstrated zero signs of toxicity. Where highly-chlorinated water causes irritation and swelling to tissues, ASEA does not even hint to induce inflammation even in the most sensitive human tissues used in laboratory tests; in fact its effect is often the very opposite. What kind of salt is in ASEA?ASEA is produced from pharmaceutical grade salt (NaCl) and ultra-pure distilled water, similar to the saline solutions used for medical purposes.
This saline solution is necessary for the production and stabilization of the Redox Signaling molecules in ASEA. ASEA is not meant to hydrate or to supplement minerals; good drinking water and mineral-laden salts, should be sought elsewhere for that purpose.
The FDA Dietary Guidelines recommend that, in general, certain individuals should limit intake to 1,500 mg of sodium per day.The exceptions to this guideline are people whose doctors have put them on a diet that requires even less sodium because of a medical condition. If sensitive to salt, you can adjust the salt content in your diet as necessary while taking ASEA.
ASEA contains a perfectly balanced, safe, stable mixture of Redox Signaling molecules such as those natively produced by the mitochondria inside all cells in your body. ASEA starts as ultrapure water and salt that undergoes a complex multi-step electrochemical process and requires three or more days in the making.
Complex chemistry and physics is involved in the production process with tightly controlled quality control and production parameters and neutral pH (7.35). ASEA is designed to safely and effectively support immune system, cellular defense, repair, replace and restore functions.In contrast, most alkaline waters on the market are produced by hooking up ordinary tap water to an electrolysis chamber that filters the water and separates it into its alkaline and acidic components. The alkaline water is generally unstable and should be taken immediately and the acidic water is generally dangerous to ingest, but can be used as a cleaning solution.
ASEA possesses many of the beneficial aspects of both kinds of water, but it is highly-concentrated, stable, non-toxic and perfectly balanced.
Note, however, that ASEA is not designed to hydrate and does not contain beneficial minerals. The Redox Signaling molecules in ASEA are able to survive the harsh acidic environment of the stomach for several minutes. Traces of residual Redox Signaling molecules have been found in the blood hours after ingestion. Does freezing or heat affect ASEA?ASEA is stable up to temperatures of 300F, survives microwaving, refrigeration and freezing. Always cap unused portions, and do not drink directly from the bottle, as this will encourage contamination.?? ?  ? Ask KMHI AM a successful Mompreneur who is connected with a network of talented, powerful individuals. It's the actions that you take that determines whether you make something of yourself not. I'm just a little more passionate than most!??What is Network Marketing? ?Network marketing is a type of business opportunity that is very popular with people looking for part-time, flexible businesses.
Always cap unused portions, and do not drink directly from the bottle, as this will encourage contamination.?? Still have questions?Please contact us anytime!



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