Trustee and Fiduciary Services Global Asset Management Industry Insights

Prime, Futures and Securities Services 20 DISTRIBUTION CHANNELS It’s critical that firms know their clients, not only to satisfy regulatory requirements but also to understand clients’ investment needs. Over the past few years, firms have found more ways to gather data on their clients and interact with them. We asked what methods firms will use to effectively engage with, and understand, their clients. Some 59% of respondents indicate that digital investment platforms will be the most common form of interaction. If we factor in the results for mobile phone apps (39%) and the use of AI robo-advice (35%), our analysis indicates that respondents think that some form of online interaction with clients will be the most effective way to engage with them. The analysis of data to understand client needs and interests is important to 57% of respondents along with using more accessible language and simplified methods of communication (51%). We also see a number of other suggestions, including the hiring of a diverse workforce reflective of the clients that a firm engages with and good old-fashioned face-to-face engagement, supporting what is, anecdotally, thought to be the case: that humans and automation should coexist to provide an ideal solution. 59 % Digital investment platforms (incl. customisable solutions) 57 % Use of big data analytics to understand client needs and interests 35 % Use of AI robo-advice combined with human expertise overlay 8 % Other 51 % More accessible language and simplified methods of communication such as infographics 39 % Mobile phone apps What relevant methods will enable the most effective engagement with, and understanding of, your clients? Q12