As the wealth and financial advice market continues to evolve, accurate and efficient data on intermediary client trends is arguably more essential than ever for asset managers. But with ever-evolving market dynamics, new regulatory pressures and fragmented client information, achieving a holistic view of an investment manager’s client base is still a significant challenge.
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Understanding the UK Advisor Landscape
In collaboration with Advisor Home, Aiviq’s sister company Alpha Financial Markets Consulting, recently published their annual Financial Advice Survey (2023). Authored by the Retail Distribution & Advice Practice, the survey underscores the importance of personalised client engagement for advisors.
Despite technological advancements, advisors continue to prioritise face-to-face interactions, phone calls, and emails with 79% citing personal relationships as driving the most value for customers. However, financial advisors face challenges such as process inefficiencies and cost pressures, exacerbated by regulatory changes like Consumer Duty (43% of respondents noted that they lack the MI to demonstrate positive consumer outcomes).
Implications for Asset Managers
In his foreword, Bradley Northrop (Director, Life, Pensions & Retail Investments at Alpha FMC writes "From the rise of new technologies to the continued evolution of regulatory change, the dynamic nature of our industry demands a proactive approach to these developments to be successful in the future.“ Firms that understand their clients' goals, preferences, and concerns and can provide support against advisors’ challenges, will be well-positioned in the market.
The Aiviq Advantage
Building off Alpha FMC’s Financial Advice Survey insights, Aiviq's latest major product release, Polaris, revolutionises how investment managers match intermediary trades from third-party transfer agents and platforms to clients – as sales managers and distribution leaders recognise them within their own CRM systems.
With Aiviq, teams can analyse advisor relationships across platforms, including insights on advisor networks, discretionary fund managers and model portfolios, revealing total AUM, Flows and Net Revenue across intermediary value chains as they evolve.
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With the continued focus on personalised client experiences drawn out in the survey, these insights are critical for teams preparing for client meetings, personalising lead generation emails and even executing asset retention strategies – now also using generative AI to help determine the next best action to take based on internal sales objectives and recent sales meetings with similar clients.
Beyond the platform, Aiviq’s executive roundtables and other market initiatives are building a cross-industry community where asset managers, distributors and technology providers can collaborate on shaping data standards and best practices to reduce data friction across the value chain – from advisors to fund manufacturers.
To discover how Aiviq can transform how your organisation thinks about building lasting relationships with clients in global intermediary markets, contact our team today.
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