A few obvious examples:
- a new chief investment officer. Any major personnel change should be considered "significant."
- acquisitions. Even if they don't meet the portability requirements (meaning you can't use the history), if they're part of your firm definition going forward, they are significant.
- the hiring of a new head of performance. Okay, just kidding on this one ... probably not deemed significant to your prospective clients. (But it should be, right?)
A verification client acquired several mutual funds and thought that this wasn't necessarily significant. However, since their introduction resulted in their assets under management during recent times to increase while those of many other firms dropped, I'd say this WAS significant, since without this information the reader might (wrongly) think that the firm had been able to avoid losing assets or accounts. The client has agreed with us.