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Celebrating the first birthday of the asset management CX Forum

asset management CX Forum

Whoop, whoop!!!

We are celebrating the first birthday of the asset management CX Forum! Attendees tripled over the year, and here’s the feedback on what we have achieved:

“Very valuable counsel about where the leading edge is and ways to get there” 

“The combination of benchmarking, collaboration with Accomplish, and the inputs from across the CX community has been really valuable for us as we shape our CX strategy.” 

“Very useful in understanding the industry direction.”

What has the asset management CX Forum achieved?

CX Fundamentals – CX is still in its infancy in the asset management industry. Indeed, when we first came together as a group, one of the first tasks was to agree on what CX is,  why asset managers need to care about it, and what good looks like

A common language for CX – we used the CX Maturity Benchmark to give us a common language and to identify the industry’s most common challenges. We then spent the next year investigating them and developing new tools to solve them. Because everyone knew the rationale for the projects, they benefited from high participation rates which created rich and statistically valid datasets.

Collective action in the interests of clients – we have shone a light on the most common and best practices for measuring and governing CX, for listening to clients, and for managing their different needs. As the world seemed to turn upside down in the first half of 2020, the members of the asset management CX Forum had a collective plan to wait until quarter-end and then assess the impact of Covid-19 on CX in the industry, how it is increasing in importance for firms, and the steps they intend to take.

Developing best practices – two heads, or eight, or even twenty are certainly better than one, as we proved with an industry working group that developed a way to benchmark firms’ effects on institutional client behaviours  compared to their competitors. This means asset managers can now track their actual effect on clients (‘what they did’) as well as compare it with their operational metrics and client feedback (‘what they said’). We believe this is game-changing.

Knowledge, understanding, and the ability to apply CX – lastly, we have amplified our members’ voices within their own organisations, helped convert sceptics, and trained staff in the fundamentals of CX and how to apply it.

Looking to 2021 with great confidence

From Accomplish’s perspective, 2020 was a banner year as more and more people engaged with the discipline of CX and learned how to make discerning choices about what they need.

And we are looking ahead to 2021 with great confidence: the asset management CX Forum has a full agenda of industry-level projects, we have the datasets and capabilities to continue filling the gaps in the firms’ provision of superior experiences to its clients, and it will remain free to all, as Accomplish’s gift to the industry’s CX community.

Use CX to secure competitive advantage
Adam Grainger

Adam Grainger

Behavioral analytics | Business intelligence | Asset management

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