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Asset Management CX Forum and benchmark

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Asset Management CX Forum

Accomplish  established the Asset Management (CX) Forum with the initial objective of developing an industry-wide client experience benchmark. This roundtable ‘Chatham House’ discussion on client experience (CX) included some of the world’s most influential asset managers. 

Key messages from the discussion

Good or bad, CX impacts profitability twice – at both the gross and net profit levels – and for most asset managers, CX has become the differentiator.

Yet, across the industry, our research indicates that it isn’t going well, with firms experiencing twice as many indicators of an unfavourable CX than of a favourable one.

This situation is controllable, and it presents an opportunity to gain a competitive edge.

However, our research indicates that when attempting to seize the opportunity many firms have addressed the effects of the problem rather than its causes.

For example, participants highlighted large numbers of unconnected projects designed to improve discrete aspects of a CX (e.g. onboarding, reporting, billing projects etc), without going to the heart of the matter and implementing an end-to-end CX strategy and governance.

Unless firms address the root causes they will find it hard to combine their tactical efforts into an intuitive, coherent and deliberately designed client journey. 

Our discussion focussed on how to design client journeys, the importance of mastering data science and analytics, and the critical factors influencing firm-wide client centricity.

The longer firms take to adapt, the slower they will be to seize the benefits CX can bring to profitability.

Asset Management CX Forum and benchmark

Attendees strongly supported the establishment of an Asset Management CX Forum dedicated to improving the state of CX in the industry. 

This new industry group will be open to any buy-side firms who are prepared to contribute through benchmarking

We will meet three times each year to examine CX developments and to deep-dive into hot topics of the group’s choice

Contact us to request membership.

Adam Grainger

Adam Grainger

Asset management CX specialist. 20-year career in the investment industry – from Transformation Director roles, to regional COO positions.