Client Reporting in Wealth Management: An Advisor Perspective
Report Summary
Client Reporting in Wealth Management: An Advisor Perspective
Wealth management firms seeking to become their clients' primary advisors need to offer a holistic view.
Boston, August 21, 2014 – U.S. wealth management industry assets are at an all-time high, and the financial crisis is finally in the industry's rearview mirror. After years of cost cutting and compliance, wealth management firms seek to provide value by consolidating client assets into a single holistic view. Despite the widespread availability of performance-reporting capabilities, however, advisors still face challenges in their quest to provide comprehensive reports. What do advisors need to step up their client reporting game, and how should vendors develop their reporting products?
This Impact Note, based on an Aite Group online survey of 338 financial advisors, sheds light on advisors' performance reporting capabilities as well as end clients' access to these reports. It also discusses how advisors source performance reporting systems and their satisfaction with these applications.
This 20-page Impact Note contains 16 figures. Clients of Aite Group's Wealth Management service can download this report.