Asset Management Firms Struggle to Distribute Web Content to Broker/Dealers, kasina Finds

Groundbreaking Workshop Reveals Dissatisfaction With Current Methods, Identifies Next Steps

NEW YORK CITY (April 22, 2002) – For the first
time, asset management firms and broker/dealers gathered to discuss possible blueprints
for implementing industry-wide syndication standards for managing Web content at a Web
Content Syndication Workshop hosted by kasina, an e-business strategy consulting firm for
the financial services industry.

Currently, 97 percent of broker/dealers use their Intranets
on a daily basis to retrieve asset management content, whereas only 21 percent visit an
asset management Web site on a daily basis. This fact concerns asset management firms and
has forced them to think about new ways to distribute electronic content to get in front
of broker/dealers. At this time only two asset management firms have developed an automated solution.

“Our workshop on March 18 was a catalyst for
initiating an open dialogue between asset management firms and broker/dealers, but there
is plenty of work to be done,” noted Steven Miyao, chief executive officer of kasina.
“While everyone supports the use of standards for Web content syndication, none currently exist.”

Miyao continued, “It is clear that the wirehouses are
more advanced in their willingness to use and embrace technology. The banks are stricter
with regard to limiting content access and face more technological challenges.” Miyao
attributes this difference in part to the highly regulated banking environment.

The Workshop was attended by directors of e-business/e-commerce from leading asset management
and broker/dealer firms. By day’s end, participants summarized the several barriers currently impeding efforts
to syndicate content effectively as follows:

  • Asset management firms receive a range of
    content customization requests from broker/dealers, making it difficult to standardize
    information and delivery. All of the methods for syndication in current use have drawbacks.

  • The marketing departments at broker/dealer firms are the gatekeepers to
    the Web content on the intranet, they determine how content is presented to reps.

  • Broker/dealers and asset managers need to
    decide on a scenario that translates into a win-win.

  • Asset management firms need an easy way to limit access to content, so that
    broker/dealer representatives only receive information on funds they are licensed or permitted to sell.

Asset management firms currently lack a syndication tool
that enables them to track the usage of their content down to the individual rep level.

The group determined that there are several strategic
“next steps” that need to happen to move an industry-wide push for syndication
forward. Asset management firms need to gain resources and support for syndication efforts
as well as discuss the options for an automated solution with their distribution groups.
Broker/dealers need to advocate internally for automated solutions that will assist their
marketing departments in getting content in front of reps. Involvement from an industry
group that will support syndication efforts and standards, such as NASD, ICI, or NICSA,
was also deemed critical.

Said Miyao, “We are very encouraged by the outcome of
today’s workshop, and as a change agent for the industry, we will continue to facilitate
similar discussions to keep the industry moving in the right direction.”


kasina is a management consulting firm specializing in e-business strategy.

kasina focuses on the financial services sector, helping
asset management companies to identify trends, benchmark against their competition, and
prioritize initiatives relating to Internet technology. An overview of kasina’s services
is available at