17 asset managers have participated in the first round of the Accomplish CX Maturity Benchmark. This was the initial stage an industry-wide initiative that aims to improve the state of client experience across asset management. Contact us if you are interested in joining the next round of benchmarking, which will close on Friday 31 January 2020.
Early movers on CX are implementing intuitive, coherent and efficient client journeys to secure competitive advantage over rivals. Put simply, a client journey is the single thread that weaves through your organisation that represents your clients.
At the beginning of a client centricity improvement initiative, the focus must be on getting the must-do’s right first, because in a modern experience economy a five star experience is the baseline, not a luxury.
For sure, CX is all about clients. But you won’t get off the starting blocks without the essential raw material: CX data and analytics.
Asset managers are falling short of their clients’ service needs, and most attempts to solve the problem are addressing the effects not the causes. Early movers are using CX to secure competitive advantage over their rivals. Asset managers are now using Accomplish’s CX Maturity Benchmark to understand their current CX and compare themselves against their peers.
A recent roundtable discussion on CX resulted in the establishment of the Asset Management CX Forum with the objective of developing an industry-wide CX benchmark.
SimCorp Coric has picked-up on our research into how CX has become the differentiator for asset managers. We are pleased that they asked Adam to be their latest guest blogger.
Industry-wide problems with client onboarding, reporting, billing etc. are the effects of systemic issue. The root causes are a lack of CX strategy, and insufficient governance to control the complexity of serving clients with different needs. CX is controllable and, for many asset managers, it has become the differentiator. In this first of two articles on the root causes, we explore CX strategies.
For many asset managers, client experience (CX) has become the way to get noticed and to retain their clients’ confidence. CX will also impact your profitability twice – influencing both revenue and costs. Yet our research indicates an industry-wide issue. Asset managers should seize this opportunity with the four-stage response outlined in our report.
Lack of governance around client experience (CX) is one of the two root causes of an industry-wide issue relating to CX that has important commercial implications for firms. This situation is controllable, and it presents an opportunity to asset managers to gain a competitive advantage over their peers.
Client segmentation unlocks benefits that improve asset managers’ profitability and scalability. But there are pitfalls, especially for firms that have not needed to master this discipline before. Accomplish has considerable experience in segmenting client bases for asset managers of all sizes. Contact us if you would like us to share the lessons we have learned about how to do this successfully.
Competition is intense, margins are shrinking, and not everyone will adapt in time. Big-brand investment firms are buying Accomplish’s ‘Quick Fix’ change management packages. Find out why.
As we approach Easter, we thought it would be good to reflect on what we, as a ‘challenger consultancy’, have been up to in the last 6 months. Read all about it!
We are delighted to welcome Nana Banton to Accomplish as a Board Adviser. Nana will help our leadership team navigate as it grows, she will challenge and stretch our strategic plans and, no doubt, knock-off any of our rough edges!
Our client experience market study is progressing well. While early findings support our hypothesis that this topic is an important one, they also indicate that the asset management industry may still be figuring out how to ‘get it right’.
Could asset managers still be wrestling with delivering the right client experience? Accomplish has launched industry-wide research to find out.
Did you know that 70% of change initiatives fail? We researched why and how to improve success rates. Read our key findings.
Merry Christmas, and a Happy New Year! Accomplish has had a good start as a ‘challenger consultancy’. Read on to check out the foundations we have laid in the last few months.
I am delighted to welcome Sean Brady to the Accomplish Leadership team, as Chief Operating Officer. Sean will strengthen even further Accomplish’s experience in strategy and implementation, and will stretch us into technology innovation.
Last week’s CRC Forum covered much ground. Some key takeaways on digital, data and client service challenges facing investment managers.
