According to a new report from consulting firm DST kasina, there’s a large gap between what financial advisors want from their digital engagements with asset managers and what they’re actually getting.
While three out of four advisors say they’re more likely to visit an asset manager website that offers personalized content and product recommendations, less than 23% of firms offer that, according to the report “Digital Engagement Leaders 2016: It’s Not Just About the Website Anymore.”
In addition, 79% percent of advisors want detailed performance data from asset managers’ websites, including the “whys” of their performance, but less than 20% offer that in their product profile, according to the report.
Altogether 73% of advisors said the digital experiences provided by asset managers influence their view of a firm’s overall capabilities, up from 59% in 2015 — but only 16.3% of managers met their expectations.
DST kasina ranked 31 small, mid- and large-cap firms, with assets ranging from $92 million to $2.6 trillion, reviewing each one’s website, blog, subscription email, and LinkedIn and Twitter pages on desktop and mobile devices according to these five key variables:
- The delivery of personalized, relevant recommendations
- Invite interactions with the firm
- Emphasis on what’s unique about the firm and its products and why advisors should work with the firm
- Ease of doing business with the firm
- Consistent, high quality user experiences
Based on those rankings, DST kasina listed the top five asset management firms:
4. Oppenheimer Funds
3. American Funds