As online investing platforms raise the bar for the type and quality of information clients expect, a survey by SS&C Technologies Holdings found that many asset managers may be falling short.
SS&C surveyed 100 senior-level asset managers at The Summit for Asset Management conferences held in New York and London.
Three-quarters of asset managers believe client reporting is extremely important to their acquisition and retention strategy; and yet, more than 30% are relying on a manual process to develop these reports.
“The survey results confirm that in this age of increased client demand for investment transparency and context, client communications have emerged as a critical function for investment management firms,” Christy Bremner, senior vice president for SS&C Institutional and Investment Management, said in a statement. “Despite this reality, many firms still follow a mostly manual process that results in outputs that aren’t personalized to individual needs.”