Best Practices in the Wealth Management Industry
What are the most important factors driving your organizations brand value?
| 56% (22) | History / Tradtion | |
|---|---|---|
| 17% (7) | Client Relationship Managers [CRM] | |
| 12% (5) | Client Base | |
| 10% (4) | Products | |
| 2% (1) | Others |
39 voters have answered this question.
Percentage of products currently produced in-house by your company
| 5% (2) | All products are third-party sourced | |
|---|---|---|
| 30% (12) | 1% - 33% | |
| 35% (14) | 31% - 66% | |
| 17% (7) | 67% - 99%% | |
| 10% (4) | All products are produced In-house |
39 voters have answered this question.
In your opinion as a core employee , by what percentage can your organization cut its operating costs?
| 20% (8) | 0% - 5% | |
|---|---|---|
| 61% (24) | 6% - 10% | |
| 12% (5) | 11% - 15% | |
| 5% (2) | > 15% |
39 voters have answered this question.
What criteria does your organization use to segment its client base? [Tick on multiple options if applicable]
| 69% (27) | Current Asset | |
|---|---|---|
| 66% (26) | Potential Asset | |
| 48% (19) | Geography [e.g: NRI, UK Expats, Arabs etc] | |
| 20% (8) | Investment Style | |
| 56% (22) | Risk Profile of Client | |
| 17% (7) | Company's profitability from the Client | |
| 20% (8) | Product mix usage | |
| 51% (20) | Age / Life style |
39 voters have answered this question.
Which of the following are the most important strategic areas on which your company spends maximum time? [Tick on multiple options if applicable]
| 74% (29) | Client Retention | |
|---|---|---|
| 87% (34) | Client Acquisition | |
| 64% (25) | Risk Management | |
| 53% (21) | Improvement in Profitability | |
| 41% (16) | Cost reduction | |
| 43% (17) | Investment Performance | |
| 10% (4) | Acquisition of Key Staff | |
| 2% (1) | Retention of Key Staff | |
| 25% (10) | Entry into New Markets |
39 voters have answered this question.
How has the current economic crisis impacted on your company? [Tick on multiple options if applicable]
| 66% (26) | Asset reduction | |
|---|---|---|
| 48% (19) | Head count reduction | |
| 15% (6) | This is an opportunity to grow strategically | |
| 43% (17) | Budget-cuts across the board | |
| 56% (22) | Client attrition | |
| 12% (5) | Business disinvestment |
39 voters have answered this question.
Given the current global economic crisis, what have been your organisationâÂÂs tactics to retain clients? [Tick on multiple options if applicable]
| 71% (28) | Increased client contact directly by CRMs | |
|---|---|---|
| 53% (21) | Increase in advice to clients / portfolio rebalancing | |
| 30% (12) | Increase in reporting and research information to clients | |
| 58% (23) | Investment in services to clients | |
| 25% (10) | Marketing the âÂÂflight to qualityâ of our organisation | |
| 28% (11) | Educational events for clients | |
| 38% (15) | Reduction in fees charged to clients |
39 voters have answered this question.
Which of the following best describes your business model?
| 46% (18) | Advice-led model (fully open architecture) | |
|---|---|---|
| 28% (11) | Both producer and distributor models | |
| 17% (7) | Primarily producer-led model | |
| 7% (3) | Primarily distributor-led model |
39 voters have answered this question.
What do youconsider to be your organization current top differentiating factors?
| 23% (9) | Strength of client relationships | |
|---|---|---|
| 28% (11) | Brand value | |
| 2% (1) | Quality of CRMs | |
| 33% (13) | Provision of comprehensive, integrated wealth management planning approach for clients | |
| 10% (4) | Access to best of breed open architecture products | |
| 2% (1) | Global presence and knowledge | |
| 0% (0) | Investment performance |
39 voters have answered this question.
How important do you, as business head, rate the following product/ service offerings in terms of serving your clients ?
0 voters have answered this question.
Tax and estate planning
| 12% (5) | Very Unimportant | |
|---|---|---|
| 12% (5) | Unimportant | |
| 56% (22) | Important | |
| 17% (7) | Very Important |
39 voters have answered this question.
Trust and fiduciary services
| 7% (3) | Very Unimportant | |
|---|---|---|
| 20% (8) | Unimportant | |
| 15% (6) | Important | |
| 56% (22) | Very important |
39 voters have answered this question.
New investments
| 2% (1) | Very Unimportant | |
|---|---|---|
| 5% (2) | Unimportant | |
| 33% (13) | Important | |
| 58% (23) | Very Important |
39 voters have answered this question.
Sustainability investments
| 0% (0) | Very Unimportant | |
|---|---|---|
| 2% (1) | Unimportant | |
| 17% (7) | Important | |
| 79% (31) | Very Important |
39 voters have answered this question.
Shariah products and advice
| 28% (11) | Very Unimportant | |
|---|---|---|
| 46% (18) | Unimportant | |
| 20% (8) | Important | |
| 5% (2) | Very Important |
39 voters have answered this question.
In your opinion what are the areas of greatest weakness for your organization CRMs?
| 15% (6) | Lack of ability to adjust to change quickly | |
|---|---|---|
| 5% (2) | Lack of client relationship skills | |
| 17% (7) | Lack of understanding of risk | |
| 25% (10) | Lack of global experience | |
| 0% (0) | Lack of business experience | |
| 2% (1) | Lack of product knowledge | |
| 23% (9) | Lack of ability to lead others | |
| 0% (0) | Lack of understanding of tax issues | |
| 10% (4) | Lack of ability to collaborate |
39 voters have answered this question.
In which of the following areas would you, as CRM, like to receive further training over the next 12 months? [Tick on multiple options if applicable]
| 10% (4) | Softer skills including client handling | |
|---|---|---|
| 38% (15) | Softer skills including client handling | |
| 35% (14) | Taxation updates | |
| 35% (14) | Inter-generational wealth transfer | |
| 20% (8) | Financial markets updates | |
| 53% (21) | Product training | |
| 46% (18) | Strategy update | |
| 46% (18) | Compliance and regulatory updates |
39 voters have answered this question.
Which of the following criteria in the are the most important measurement of your performance as CRM? [Tick on multiple options if applicable]
| 69% (27) | Growth of assets under management | |
|---|---|---|
| 66% (26) | Meeting revenue targets | |
| 69% (27) | Number of new clients | |
| 61% (24) | Client satisfaction with service of the CRM | |
| 56% (22) | Client retention levels | |
| 15% (6) | Cross-selling of other products / services | |
| 5% (2) | Investment performance | |
| 61% (24) | Complaint levels | |
| 28% (11) | Number and volume of transactions |
39 voters have answered this question.
What are the top objectives for your organization currently ?
| 35% (14) | Supporting and enabling business growth | |
|---|---|---|
| 10% (4) | Cost reduction through enhanced efficiency | |
| 15% (6) | Risk management | |
| 38% (15) | Becoming more customer-orientated | |
| 0% (0) | Ensuring legal and regulatory compliance | |
| 0% (0) | Increasing organisational change agility | |
| 0% (0) | Setting up new operations/branches |
39 voters have answered this question.
In an average month you spent maximum time , as CRM, on which the following activities?
| 28% (11) | Contact with existing clients | |
|---|---|---|
| 58% (23) | Marketing and prospecting | |
| 7% (3) | Administration and error resolution | |
| 2% (1) | Portfolio management | |
| 0% (0) | Compliance | |
| 2% (1) | Investment research and analysis | |
| 0% (0) | Training |
39 voters have answered this question.
What do you believe will be the top drivers to risk management over the next two years?
| 46% (18) | Loss prevention and governance reporting | |
|---|---|---|
| 51% (20) | Changes in regulatory requirements / developments | |
| 35% (14) | Increasing / changing client expectations and demands | |
| 43% (17) | Perceived increase in risk | |
| 10% (4) | Head office / parent requirement | |
| 41% (16) | Reaction to an industry trend | |
| 25% (10) | Reaction to external loss events | |
| 5% (2) | Need for increased capital requirements | |
| 30% (12) | Perceived source of competitive advantage | |
| 15% (6) | Increased incidence of losses internally |
39 voters have answered this question.
