Improving tech systems ‘key for asset managers’
Written by Chris Lemmon
Improving technology and client reporting systems are key 2017 business priorities for three quarters of asset managers, according to a new survey.
The research, conducted by Osney Media and BackBay Communications, found that less than half of the asset managers surveyed provide real-time reporting, e-reporting or mobile reporting capabilities for their clients.
The survey also found that artificial intelligence is seen as having the greatest disruptive potential for the industry in the coming years with nearly half (49 per cent) identifying it. By comparison, only 12 per cent said that blockchain would be the leading disruptive technology.
When asked about the effects of the EU referendum on their business back in September 2016, one in three firms reported that they had been negatively affected. In this latest research, the proportion had fallen to 11 per cent with 79 per cent now saying that Brexit has had no effect on their company.
Jonathan Wiser, director of Osney Media, said: “Institutional and retail investors have greater choice and expect greater control over their investments than ever before. Our research reveals fairly widespread dissatisfaction with current client communications and it’s no surprise that client reporting, with a focus on digital, is firmly in focus as firms look to provide the information their clients need and in the format they want in order to improve the overall experience.”
Bill Haynes, CEO and founder of BackBay Communications, added: “The survey shows that social media, content marketing and e-marketing are all widely recognised as effective channels for communicating with clients and prospects but that only about half think their efforts are currently well integrated. Making better use of data, along with closer integration with sales and client service teams, is key to ensuring communications are relevant and consistent.”