Institutional Survey Says, “The Need for Data Integration Grows As Business Does”

We at SalesPage believe that with an integrated CRM and portfolio management strategy in place, institutional asset managers are more likely to win and retain institutional clients. When asset managers are able to track key relationships, they are simply better prepared to cultivate long-term relationships with investors, and they’re able to provide the kind of top-notch service that leads directly to client retention. But to see if we’re on the right track, we decided to ask those in the trenches to weigh in.

In June, we developed and distributed a survey in order to gather information about how institutional firms use technology to manage opportunities and service clients. We’ve compiled the results and reviewed the responses; here are the highlights of what we learned.

Does your firm integrate portfolio management data with your CRM system?

As shown above, most responders (59%) either already integrate portfolio management data with their CRM or would like to. Why? We suspect that the key advantage of such integration is being able to tap into the most crucial client data—including asset levels, activity history, activity notes, the current stage for any opportunity, as well as resource allocation/management—from a single point. This is only possible with integrated systems and a cohesive strategy.

What about the 41% of firms that aren’t integrating portfolio management data and don’t have a need to do so? From the comments of those responders, we learned that there are situations in which integration just isn’t warranted. To cite an example: One small firm has a low volume of high-value clients; this firm stated that based on their current size and given their small client base, it’s fairly easy for their staff members to manage opportunities and provide client services. Integration might be nice to have, but isn’t truly necessary for firms like this one.

When does integration make sense? We think that the need for an integrated system and cohesive strategy increases as a firm grows and adds distribution channels. As shown below, almost half (46%) of the firms that responded to our survey have 3 distribution channels.

Who are your firm's clients?We were interested in how that group—the 46%—responded to the question, “Does your firm integrate portfolio management data with your CRM system?” We found that a large majority—70%—of these firms either already have, or would like to have, their portfolio management data integrated with their CRM. From this we infer that, as a firm grows and adds additional distribution channels and clients, the complexity of their needs also grows, making integrated systems and a cohesive strategy far more important for them.

SalesPage wants to keep the conversation going, and to put what we’ve learned from this survey into practice. We design and deliver the best distribution management systems in the business; one of our not-so-secret weapons is that we do our homework. We ask questions, listen to the answers, and craft solutions that work. Using what we’ve learned, we’ll improve our solutions so that they better serve our current and future clients. We’ll continue to develop innovative approaches to the challenges faced by the financial services industry. We’ll help our clients use technology in the best possible way, as they manage opportunities and service clients. We look forward to continuing this conversation.