Category Archives: FinTech
Today’s asset management sales landscape is vastly changed from 18 months ago — and still evolving. While some advisors are starting to venture back to the office, many are still working remotely. That means fewer opportunities to deploy old-school tactics like in-person meetings and large lunch-and-learns. In fact, a 2022 Outlook Report by Marketbridge found that in-person communication all but disappeared during the pandemic. While it will come back, digital is here to stay. So, how do asset managers engage advisors and grow assets in this new world? In our conversations with marketers, we have learned some new ways asset managers are engaging advisors and growing AUM.
Asset management firms that don’t automate the investment data processes pay the price every quarter in the form of time-consuming manual work, as well as the risk of human errors. The costs – including the opportunity costs – add up significantly over time. At a recent webinar, we explored how asset managers can get off the quarter-end hamster wheel forever and achieve long-term ROI through effective data automation. Below are some highlights from the conversation.
Asset Managers are heavily focused on bringing in new business and attracting the right clientele. Compliance, while important, is something you’d prefer to have running smoothly in the background rather than disrupting your day-to-day flow.
However, an increase in hefty fines throughout the asset management industry means compliance needs to be front-and-center. To make the most of your resources and to ensure you’re not caught by surprise when regulators review your materials, you need to ensure you’ve built efficient, compliant processes that are easy for your team to understand and comply with.
One particular pain point we’ve heard about from clients: keeping sales team collateral up to date and books and records compliant across an organization.
When discussing content automation goals, buzzwords like ‘streamlining’, ‘consistency’, and ‘efficiency’ are often tossed around. These are good goals to strive for but are difficult to achieve due to business reasons beyond marketing’s control. After all, the products represent different strategies, ages, data, and audiences; therefore, the literature has to reflect this. In the end, the main goal of content automation should be to make the process as simple as your firm’s business rules and product nuances will allow.
In a recent content automation report, 23% of asset managers cited producing factsheets monthly. So, the accuracy and timeliness of factsheets are becoming more and more crucial. Yet, this does not necessarily mean less complex. The complexity of your factsheets is one of the main driving factors behind the cost of implementing and maintaining an automated solution. In this blog post, we’ll identify and discuss the top 3 factsheet automation complications: