The partnership distribution agreements in your financial services business are carrying projected commercial value that I would be willing to wager has never been independently verified against actual commercial performance. I say that not as a provocation but as an observation that has held in every financial services business I have looked at closely.
The partner's reporting is not independent. It is optimistic by design because the partner's commercial interest is in the continuation of the relationship. The CFO who accepts that reporting as the governance basis for the partnership cost is in a position of financial oversight built on a conflict of interest they did not create and may not have fully examined.
What is the partnership actually producing in verified, activated, commercially productive accounts generating revenue? That number is structurally different from the one in the board presentation and the gap between them is financial exposure sitting unexamined inside an agreement that is auto-renewing.
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