Tech-Savvy Advisors are Ready for Higher Level of Online Service

Bookmark and Share

New York, (May 8, 2008) – Advisors are far more tech-savvy than asset managers believe, according to kasina, a leading asset management consultancy. Their latest study, “What Advisors Do Online,” identifies and dispels common e-Business beliefs about financial advisors’ online behavior.

For “What Advisors Do Online,” kasina asked over 500 advisors across all age groups and channels about their online habits and preferences. According to the study, asset managers are on the cusp of a new online era and kasina suggests that there is opportunity for asset managers to step up their technological game to meet the growing demands of Web-savvy advisors.

The survey data indicated that the vast majority of advisors are:

  • Comfortable executing routine transactions online
  • Capable of navigating Web 2.0 technologies
  • Routinely using the Web for both information and entertainment

According to the kasina survey, few advisors are satisfied with the usability of asset manager Web sites. Only 33% felt it was easy to find information on asset manager sites, and only 31% agreed that asset manager homepages are well-designed.

The kasina study also revealed that advisors regularly use advanced online technologies on non-industry Web sites. YouTube is surprisingly popular among all advisors, according to the study, with 78% of advisors ages 20-40, 61% of advisors ages 41-60, and 34% of advisors ages 61-80, visiting the site. RSS feeds and podcasts are also popular with advisors of virtually all ages.

Based on the report’s findings, kasina also encourages asset managers to look ahead to a new generation of advisors. “The mounting importance of the Web will likely continue, and become more pronounced, as the next generation of financial advisors, Gen Y, accounts for a larger percentage of firms’ advisor bases,” says Lindsay Geimer, a consultant at kasina.

As the study indicates, the Web is becoming an increasingly important part of the asset manager-advisor relationship, and firms that develop Web strategies based on a holistic view of advisor behavior will be the ones to take advisor service to a new level, attract the next generation of advisors, and stand out online.

Get more information on the full report, “What Advisors Do Online.”

About kasina

kasina is a management consulting firm that is focused on helping financial services companies create intelligent relationships with their investors and intermediaries. By combining knowledge of distribution trends, technological innovations, and marketing strategies, kasina aids leading asset management firms with front-office efforts and publishes a regular schedule of cutting-edge industry research. kasina�s client list includes 18 of the 20 largest asset managers in the United States and leading firms in Canada, France, Germany, and the United Kingdom.