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Quality of Asset Manager Online Capabilities Impacts Advisors' Product Decisions

by Eric Daugherty

The fact that quality matters would not be a revelation in most arenas, but when it comes to asset managers' online capabilities, for some reason it is a surprising finding. Some firms have approached the Web with a "check the box" mentality, but not with the commitment and gusto necessary to differentiate the firm. However, it turns out that a top-notch Web presence is more than just a pretty face for the firm; it can help to drive business.

Recently, kasina released What Advisors Do Online (WADO) 2010. We found that many of the trends identified in past versions of the WADO series were confirmed: advisors are spending even more time online, gravitate to firm intranets first, are increasingly using mobile devices to communicate, access, and share content, and are warming up quickly to social media.

Most notable was this: 71.1% of advisors say that the quality of a firm's Web site impacts their usage of the firm's products. Put simply, a good Web site translates into revenue. This reinforces the need to continue to tie e-Business team output to business metrics as we talked about in our Optimizing the Role of e-Business report.

Key Findings from the What Advisors Do Online 2010 report include:

• 94% of advisors visit firm intranets


• Over 90% of advisors visit asset manager public or advisor sites


• Wholesalers who discuss firm Web sites with advisors impact use of those sites


• 75% of advisors use some form of social media, and 22% do so daily


• A majority of advisors uses mobile devices to access work content


• More than two-thirds of advisors share content with clients

Significant recommendations for improving online quality of asset managers emerge from the report. Among these are:

• Be everywhere advisors are online (intranets, industry and social sites) with content they want


• Make content portable and shareable


• Rationalize e-mail strategy to insure relevance and interaction

Advisors have spoken. Online capabilities are more than table stakes - they can be a differentiator. Advisors are more likely to buy products from firms with great online presences. The next move is up to asset managers.

We will not have to wait long to find out which firms' sites are the best, as our annual Top 10 Web Sites for Financial Intermediaries is coming up in September.