How most CRM solutions fall down when trying to tackle Wrap/Separately Managed Account relationships.

July 9, 2012 No comments exist

HNWI & Institutional vs. Wrap/SMA

CRM solutions for investment management have mainly focused on High Net Worth Individual (HNWI) and Institutional clients, but firms running Wrap/SMA business are stuck trying to shoe-horn their relationships with sponsors, branches and FA’s into a relationship structure that doesn’t really fit.  What’s worse is when I hear the exasperation of Wrap/SMA managers that have been searching for a CRM solution.  First they have to explain their business to the CRM vendor, then they to go into a demo and find out that they are looking at a HNWI system that comes with only promises that it can be adapted to handle Wrap/SMA relationships.

CRM built for Wrap/SMA

It’s a great feeling when you show up with a product like ClientLogix CRM and these same managers breath a sigh of relief and say “Finally, someone who knows our business and has the relationships that we need as part of their standard demo!”  And with pre-built data connectors into major portfolio accounting systems from SunGard, Advent, Schwab, Portia, APL and others, business trends/flows and relationships that used to be nebulous are now clearly visible.

SunGard and Advent Software just announced an integrated solution to streamline trading for Wrap/SMA managers http://www.finextra.com/news/announcement.aspx?pressreleaseid=45402, ClientLogix integrates and provides insight into these systems in order to drive business development.

Stop wasting time and money chasing information and trying to figure out what’s happening with your products and distribution channels.  It’s a complex business and a tool that’s fit-to-task will provide insight into where you are successful and where you need to focus within an intricate web of products, sponsors, branch offices and financial advisors.

David Gemma is a Managing Director and CMO at UNAPEN, Inc. (What’s a UNAPEN?)

Posted by David Gemma – Connect with David on Google+

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