Second, I believe benchmarks are a useful tool for comparison of your firm’s performance to the broader industry―in very specific categories. The structure of this research, and the framework for distribution enablement that was utilized, should give distribution enablement leaders a useful way to help them identify and prioritize their gaps across a broad range of capabilities.
Third, we brought in “voice of the customer” in this research. This is key to creating a customer-centric culture, and yet we find many firms still do not engage in that type of research. Highlighting the gaps between what advisors said is important, and what asset managers are delivering has been one of the most viewed charts in this report. Hopefully this research will help firms remember to keep the client at the center! To access the research report, click here.
Institute for Innovation Development is an educational and business development catalyst for growth-oriented financial advisors and financial services firms determined to lead their businesses in an operating environment of accelerating business and cultural change. We position our members with the necessary ongoing innovation resources and best practices to drive and facilitate their next-generation growth, differentiation, and unique client/community engagement strategies. The institute was launched with the support and foresight of our founding sponsors—Ultimus Fund Solutions, NASDAQ, Pershing, Fidelity, Voya Financial and Charter Financial Publishing (publisher of Financial Advisor magazine).