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3 Things Investors Want From Wealth Management Firms

The financial services industry changes quickly. Investors and their expectations are evolving. Here are three things investors are looking for in a wealth management firm:

1. Transparency

In an industry that’s all about trust, wealth managers really can’t afford to be anything but completely open with their investors. While the economy has mostly recovered from the Great Recession, investors have been increasingly demanding, with growing expectations, Morningstar reported.

Clients want a more open and honest relationship with their asset managers. Investors want to know about the risks they are taking and the potential outcomes. However, transparency isn’t just about in-person conversations; it’s about communication across the board. Too often, managers talk in numbers and charts, which may not always be the right approach. On the other hand, investors may welcome better visual aids that increase understanding of financial data. If a lack of clarity is keeping your pitchbooks, factsheets and other marketing and sales materials from being as effective as they could be, you need to find a more effective way to put these materials together.

2. Ready access to information

Investors don’t just rely on their advisors for financial information. They want quick access to this data on their own schedules. Content marketing is continually more important, and financial services is no exception. Investors are going to be doing research online before they come to you to help them manage their finances. Asset management firms need to be sure to populate their websites with news, insights and other helpful materials. This also means websites could use an adjustment to make them easier to access. For instance, as more people access the Web using mobile devices, asset managers are going to have to update their web design to ensure a good user experience no matter how visitors are accessing your site. Flat design elements may make your site more navigable for investors using mobile devices. While many asset managers have shied away from social platforms because of regulatory issues, pushing content on LinkedIn and Twitter provides easy access for many socially savvy customers.

3. Evolution

Investors want asset managers that are ahead of the curve. Demonstrating your knowledge of the latest regulations and market developments can give you a definite edge in this regard, but investing in the best possible tools is another fundamental way to achieve this goal. Both transparency and access to information are intricately tied with utilizing the most up-to-date technology. To appear cutting-edge in the financial services market, you need a website and marketing materials that demonstrate high quality, and to do that you also need technology that allows you to effectively manage and standardize your data.

Achieving the first two elements on this list requires evolution. As Investment News points out, financial services firms constantly have to be looking to the future. After all, new generations of investors are rising. By 2052, Generation X and millennial investors will inherit more than $41 trillion. These groups have different interests and expectations for financial services’ digital presence. Asset managers need to invest in better technology now, whether it’s pitch book automation software, responsive Web design or other tools that make it easier to reach customers on different channels in new ways.

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Emilie Totten

Emilie is Chief Marketing Officer at Synthesis. She brings over 15 years of integrated sales and marketing experience working with financial services, SaaS, and health and wellness companies. Her passion is architecting holistic marketing strategies that align with each business function to achieve client experience, employee advocacy, and revenue goals. When she isn't marketing, you can find her rehabbing her home in the Chicago suburbs, practicing yoga, or spending time with her family.

July 14, 2014

Emilie Totten