According to a market survey regrouping more than 150 senior portfolio managers realised by Booz & Company, the asset management industry is rising again for 3 major reasons. First of all, emergent economies are currently facing important growth and they are seeking help and advices from portfolio managers. Then, the global asset market is also expanding fast compared to the crisis it faced in 2008 and 2011. Finally, the number of HNWIs (High-Net-Worth Individuals) worldwide is increasing.
Portfolio management companies are today facing new opportunities arising. Still following the report released by Booz & Company, portfolio management companies need to focus on four major aspects if they want to catch these opportunities.
- Always complete a deep and full analysis of the situation. It is essential to define the main areas (the markets) where your company will allocate its resources. It is useless to scatter your efforts; you have to target markets where your chances of success are the highest. No need to target areas where profits are maximum, you better should concentrate on markets where you can offer something different from your competitors.
- Be as transparent as you can and propose a high-added value offer. Today, clients and HNWI are more and more suspicious; they want to know what is exactly included in the package you propose. Therefore, your offer has to be clear, simple, concise and absolutely transparent.
- Go Digital! Internet is a young but very powerful tool to attract customers. You will benefit of two main advantages if you decide to implement a digital strategy. First, it will clearly increase your brand awareness and visibility. Secondly, you will be able to collect data and information about your clients but also about prospects.
- Optimise your costs. It seems so obvious but are you really able to do it? The goal is to quickly monitor (lower or increase) your costs if a critical situation arises. Many companies filed for bankruptcy during the past years because they were unable to monitor costs facing a changing environment.
Adopting a centralised management solution such as KeeSense® is a way to meet these 4 strategic axes.
All the growth strategies described above rely on operational and powerful tools. KeeSense® includes analysis tools that will help you completing a full performance report of your company and to run an analysis to measure risks linked to your activity. Moreover, reporting is done upon request and following a personalised approach, so that you will be able to transfer accurate and reliable information to your clients. Overall, KeeSense® provides tools improving security, reliability, performance and the level of services granted to your clients.
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