Navellier & Associates, the big investment management company based in Reno, says it's brought itself into compliance with voluntary standards for reporting its results.
With about $3.1 billion under management at its downtown Reno office,Navellier & Associates sees the standards developed by the CFA Institute as an important step to attracting even more investors.
The CFA Institute represents financial planners.
"It creates a great marketing advantage for Navellier," says President Arjen Kuyper.
The AIMR standards (the name comes from the Association for Investment Management and Research) establish guidelines for the ways that financial investment firms advertise the results of individual funds and groups of funds.
Ensuring compliance was a six-month job for Navellier, including review of about 23 million individual data fields in the firm's records, says Peter Knapp, who heads its compliance efforts.
Those records then were verified for compliance by Ashland Partners LLP, an Oregon firm that specializes in the work.
"It's a huge deal for our firm,"Knapp says.
"These standards create a level playing field."
Navellier & Associates employs about 70 people in Reno.
