How do you bring Client Insights to a major European Asset Manager?2020-05-16T19:01:19+00:00

Our experience delivering Client Insights to an Asset Manager

The Head of Client Experience at a large European asset manager was heavily involved in changing the culture from being product focused to becoming client focused.

They were very keen to improve the client experience, seeing it as a key competitive differentiator.

Becoming more client-centric means better understanding of the clients; data and analytics are the key to better understanding your clients.

The asset manager had a lot of data, both internal and external. They had data from their CRM (Salesforce), data from finance, data from their custodians, data from the product performance team, data from the portfolio management system, data from external fund data providers, data from external market data providers…but it was little and inconsistently used.

Use data and analytics to build Client Insights

The first task was to interview over 100 different stakeholders across the business – from Sales, Marketing, Account Managers, Investment Managers, Finance, Operations, etc – to understand what information would help them better understand their clients. The next step was to prioritise efforts on the data already available.

Using Alteryx as an ETL tool, we started to blend multiple different data source to begin answering the business questions. Extracting account permissions from Salesforce, we were able to be sure all sharing rules were honoured, users could only see the clients within their scope.

The Client Insights were presented in Tableau dashboards. Client specific dashboards were displayed in Salesforce meaning the user didn’t have to leave Salesforce to get their client information. In addition users could access information from Tableau Server directly, both in the form of emailed alerts and proactively accessing the Tableau server.

image of bar chart on clipboard

The benefits to the asset manager of Client Insights were clear

Introducing Client Insights meant a more efficient and focused workforce, better opportunity to defend assets and more chance to win new business.

The main deliverable was a Client Snapshot, containing KPIs about a client, including financial numbers, product performance, client engagement, an index human resources provided to that client, etc.

Answering some key asset management business questions became far more straightforward, questions such as:

  • What products is my client invested in and what is the performance?
  • Am I over / under-serving my clients based on their AUM, tiering and likely future opportunities?
  • How does my clients product performance compare with comparative products; do I need to defend my assets?
  • When are my clients due to pay their dividends so I expect to lose assets from my money market products?
  • Are my clients invested in badly under-performing products; should I contact the client and defend those assets?
  • Based on what we know about the client, what is their risk profile and does it match with their investments?

There were many benefits to the Asset Manager from Client Insights project deliverables, including:

  1. Much time was saved by users no longer having to spend their time hunting to get important client numbers
  2. Opportunities to defend assets were presented, immediately impacting the bottom line
  3. Better understanding of client engagement presented opportunities for new business

Are you an Asset Manager interested in using data to improve your Client Experience?

Producing a world class delivery is fundamental to what we do. If you’d like to know more about what we do, why not drop us a line at info@tarsolutions.co.uk

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