Technology

European Asset Managers Turn to Technology to Optimize Distribution

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Jared F. Baucom

Jared F. Baucom

Managing Director, Global Sales & Marketing

Technology‘s Growing Role in Asset Management Distribution in Europe

Many European asset managers see technology as key to their future growth—68% of managers surveyed expect to increase their spending on sales-related technology over the next 12 months. Across distribution arms, marketing departments are keen advocates of using technology to enhance their operations: 98% of the managers Cerulli surveyed currently deploy technology as part of their marketing efforts. In addition, 58% of respondents consider their use of technology extensive.

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Centralizing and Tracking Client Management

In the world of sales, tracking and managing customer relationships effectively is critical. In recent years, asset managers have been experimenting with new technologies, seeking efficiencies in their operations, as well as rich user experiences and technology-driven sales enablement tools.

According to our research, 48% of managers make significant use of CRM technology. A further 40% of respondents use technology extensively for automated competitor analysis, 34% do so for client segmentation, and 32% do so for email tracking activities.

Asset Managers' Current Use of Technology in the Sales Process, 2020

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Cerulli believes that managers can find success by working with software providers whose technology enables better integration and therefore offers benefits to multiple departments within the organization. Doing so can make making the case for budget allocation easier, while also making managers’ operations more seamless.

Big Data

Nearly 60% of managers expect big data to be an enabler of enhanced sales generation. Targeting prospects accurately not only saves time and resources, but also increases managers’ chances of success. The ongoing collection, management, and use of data is the foundation of focused approaches to sales.


Asset Managers' Views on the Impact Different Forms of Technology Have on Marketing, 2020

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Key Takeaways:

  • Asset managers’ sales and marketing will increasingly be characterized by targeted efforts based on a better understanding of their clients’ needs, circumstances, and segments—only achieved through effective use of data.

  • Managers that collaborate extensively across their organizations to source, deliver, and integrate different technologies will be in a strong position.

  • Firms should seek to adopt a hybrid approach to technology using humans and technology to optimize business outcomes. This can be achieved by staying abreast of the latest developments and embracing technology where it can add value, but also being sure to remain grounded and aware of what clients and prospects actually need.

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Subject Matter Experts

Bing Waldert

Bing Waldert

Managing Director, U.S. Research

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Bing Waldert

Bing Waldert

Managing Director, U.S. Research

Bing Waldert leads Cerulli’s U.S. Research team comprising seven research practices that cover all elements of the U.S. asset management, wealth management, and retirement markets. He has authored Cerulli reports on the wealth management industry, high-net-worth market, the annuity industry, and retirement markets. He is a frequent board-level and C-suite speaker and well-regarded industry thought leader. He has spoken in front of the Investment Company Institute (ICI), the Asset Management Association of China (AMAC), the Investments and Wealth Institute (IWI), and the Money Management Institute (MMI).

He has worked on client projects on emerging manager expansion strategies, independent registered investment advisors (RIAs), multi-family offices (MFOs), investment platforms, and the outsourced chief investment officer (OCIO) industry. In addition, he has advised multiple private equity firms on acquisitions in the wealth management space.

Full biography here.

Tom O'Shea, CFA

Tom O'Shea, CFA

Director

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Tom O'Shea, CFA

Tom O'Shea, CFA

Director

Tom has over 20 years of experience in the financial services industry. Prior to joining Cerulli, Tom was an Investment Product Manager at Fidelity’s Global Asset Allocation Division, where he played a leadership role in the ongoing development of Fidelity Personalized Portfolios, Fidelity’s Unified Managed Account (UMA) for retail customers. He also led the investment managers in creating the Breckenridge Municipal Portfolio, Fidelity’s first separate account for consumers managed by a third party. Before working on the retail side of Fidelity, Tom built and led the team that developed Fidelity’s Separate Account Network for registered investment advisors (RIAs), and his group partnered with a third party wrap sponsor to create Managed Account Resources, a UMA platform for RIAs.

Tom began his career in high tech, working in sales, business development, and product management at a number of software firms, including Lotus Development Corporation.

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Brendan Powers, CFA

Brendan Powers, CFA

Associate Director

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Brendan Powers, CFA

Brendan Powers, CFA

Associate Director

Brendan is a member of Cerulli’s Product Development practice, which focuses on trends related to asset managers’ product development and management functions. This broadly includes assessing the opportunity for product development, evaluating emerging product trends, and understanding distribution and product positioning for investment products across retail and institutional channels.

Prior to joining Cerulli, Brendan worked as a Senior Client Associate at Eaton Vance Management, focusing primarily on the firm’s exchange funds.

Full biography here.

Daniil Shapiro, CFA

Daniil Shapiro, CFA

Associate Director

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Daniil Shapiro, CFA

Daniil Shapiro, CFA

Associate Director

Daniil is part of Cerulli’s Product Development practice, where he works on the identification, analysis, and reporting of asset management industry trends with a focus on exchange-traded funds (ETFs) and alternative investments.

Prior to joining Cerulli Associates, Daniil was part of the Product Management and Business Intelligence teams with the MainStay Funds, part of New York Life Investment Management. At MainStay, Daniil supported sales efforts via fund and ETF competitive analysis, product research, and development of marketing materials, as well as performance reporting. Before New York Life, Daniil was part of the risk management practice at Accenture, and held risk and compliance roles at HSBC’s investment bank.

Full biography here.

Scott Smith

Scott Smith

Director

Bio →

Scott Smith

Scott Smith

Director

With more than 20 years of financial services industry experience, Scott leads Cerulli’s research efforts focused on investor behavior and advisory relationships. In his time at Cerulli, he has authored more than two dozen in-depth reports on topics ranging from wholesale distribution to digital advice platforms. His research helps Cerulli’s clients understand how to optimize their platforms given the evolving demand for financial advice.

Scott started his career wearing a headset at Putnam Investments’ service center in 1996, before moving to more strategic roles at MFS Investment Management starting in 2000, and then to Cerulli in 2007. In addition, he currently serves as member of the CFP Board’s Digital Advice Working Group, and as a judge for the wealthmanagement.com Industry Awards.

Full biography here.

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