Financial consulting firm Sionic has released the results of its study into the future of client reporting within the asset management industry.
The study, co-authored by Sionic Partner Clare Vincent-Silk (pictured) and Principal Consultant Rebecca Gashi, surveyed more than 50 firms across the asset management industry.
Key points
• 72% of asset managers want to provide their clients with a unified experience through their client journey across marketing, sales and client servicing.
• 72% also want to provide clients with bespoke reports tailored to their specific requirements and the ability to take a deep-dive and interrogate their underlying investment data, giving them the confidence and knowledge to manage their investment strategies.
• 70% agreed that it is vital there are harmonised reporting standards across physical and digital outputs.
• 70% are either creating or considering how to implement a digitalised model.
• There is a significant gap between asset managers wanting to provide a seamless digital experience and those actually doing so.
Clare Vincent-Silk commented: "Our findings show the asset management industry at the start of a surge in the digitalisation in client communication. But it also shows that firms are operating at very different speeds when it comes to the adoption of digital.
"In our view, firms in the slow lane risk being left behind, as others benefit from increased client engagement, more loyal clients and greater client retention."
• To download the report click here