Key terms across sources
Record the same terms as each source document states them: DDQs of different dates, the PPM, allocator questionnaire answers, factsheets. A term with two different values is a conflict until it is reconciled or written up. The Form ADV column is a reference only; its AUM basis and date differ from a DDQ's, so it is compared, not counted.
Entities and registrations
Every legal entity in the structure, with its regulator, registration number and status. Mark an entity checked only after seeing the public register entry.
Clause and control checks
Clause-level review of the offering memorandum, LPA or articles, subscription documents and the administration agreement. These are the points ODD vendors most often write up, and a DDQ rarely surfaces them. Record the citation for every item reviewed. An item marked as an issue can be turned into a finding in its section.
Independent confirmations from service providers and the board. A finding can only be marked third-party confirmed when the confirmation behind it is recorded here. A confirmation that is declined counts as an information gap.
| # | Finding | Section | Severity | Action | Verified by |
|---|
Monitoring schedule
| Review by | Item | Trigger | Section |
|---|
Information gaps
| Section | Outstanding |
|---|
An allocator requirement profile is the diligence bar a specific allocator applies. The same profile serves both sides: an allocator sees which managers on file clear its bar, and a manager in a readiness engagement sees which allocator bars it clears today. Manager-commissioned readiness reviews stay out of the allocator view unless the manager has consented.
This review against every profile
Managers on file
Latest pinned snapshot per manager. Readiness snapshots without manager consent are excluded.
Requirement profiles
A pinned snapshot freezes ratings, scores, findings, document review, confirmations, gaps and the engagement type at the review date, together with the Form ADV record attached at the time. Reports and profile checks read snapshots, never the live record. Snapshots pinned under an earlier rubric keep their original version and are not re-scored.
The report reads a pinned snapshot. An allocator engagement produces an ODD report; a readiness engagement produces a remediation plan for the manager.