Emilie Totten discusses with Andrew Corn, an expert in the field, the predictions and key trends for the year ahead. The article discusses the move from active to passive investing and fee compression. Andrew notes that 2019 is the tipping point for asset managers. The interview between Emilie and Andrew discusses what marketing should be doing to help their firms survive in this very competitive market.
In order to prevent outflows and to combat fee compression Andrew discusses getting marketing communications out better and more succinctly than before. And the second was cutting costs. This involves more automation - anything that can be automated is going to save the firm money. Even though a firm is trying to cut costs, investing in these automated processes allows greater quality, efficiencies and savings (down the line). He discusses what this means for careers and how marketers need to learn skills that only humans can do to be secure in their jobs. As with certain jobs/tasks it is far more efficient for them to not be run by humans.
The technology around now is as efficient and streamlined as it has ever been and when at tipping point it may be the difference between a firm thriving and a firm surviving. If you haven't implemented tech and processes to improve efficiency and cost containment Andrew states its now or never.
Read Emilies full article here.