Charles River has announced results of an Asset Manager-to-Sponsor Communications survey conducted last week with over 100 participants during a webinar.
Over three-quarters of participants cited the need to reduce operational costs and manual efforts as the main business driver for consolidating communications with multiple sponsors.
Charles River recently unveiled a new Wealth Hub offering in the Charles River Investment Management Solution Version 9.2 series that allows asset managers with managed accounts to consolidate trades and securely distribute account and model updates to all applicable sponsors in one step.
"Asset managers want to streamline how they communicate with multiple sponsors," said Tom Driscoll, Global Managing Director, Charles River.
"Roughly one-third of attendees at our webinar currently work with 10 to 15 or more target sponsors and spend over 2 to 5 hours a day distributing trade/allocation and strategy updates to them. Eliminating the need to upload the same critical data to each sponsor’s platform increases productivity, reduces risk and strengthens decision support for asset managers and sponsors alike."
The Charles River survey asked respondents to identify one or more aspects of Asset Manager-Sponsor communications that they were most concerned about. Key findings include:
- 79% cited the need to reduce operational costs and manual effort
- 69% seek to reduce risk of operational errors
- 40% want to improve timeliness of communications
- 27% need to support increased model delivery