Cutting Costs, Manual Tasks Lead Asset Manager-Sponsor Communication Survey

In a poll conducted by Charles River, the fear of operational risk came in second place.

According to a survey conducted by financial services provider Charles River, more than three-quarters of respondents cited the need to reduce operational costs and manual efforts as the main business driver for consolidating communications with multiple sponsors.

The Asset Manager-to-Sponsor Communications survey was conducted last week during a webinar with more than 100 participants

The Charles River survey asked respondents to identify one or more aspects of Asset Manager-Sponsor communications that gave them the most cause for concern. The findings found that 79 percent of respondents cited the need to reduce operational costs and manual effort. Meanwhile, 69 percent seek to reduce risk of operational errors while 40 percent want to improve timeliness of communications. Finally, 27 percent reported that they need to support increased model delivery.

As luck would have it, Charles River has a solution that addresses this issue. The firm’s recently-unveiled Wealth Huballows asset managers with managed accounts to consolidate trades and securely distribute account and model updates to all applicable sponsors in one step. Wealth Hub can be found in in the Charles River Investment Management Solution Version 9.2.

“Asset managers want to streamline how they communicate with multiple sponsors,” saidTom Driscoll, global managing director for Charles River.”Roughly one-third of attendees at our webinar currently work with 10 to 15 or more target sponsors and spend over 2 to 5 hours a day distributing trade/allocation and strategy updates to them.”

Driscoll continued, “Eliminating the need to upload the same critical data to each sponsor’s platform increases productivity, reduces risk and strengthens decision support for asset managers and sponsors alike.”