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Improving Firm-wide Communication with Mesh

Is the asset management industry shrinking?

PwC’s 2023 Global Asset and Wealth Management Survey reports that by 2027, 16% of existing asset and wealth management (AWM) companies “will have been swallowed up or have fallen by the wayside.” PWC also notes that number as nearly twice the historical turnover rate. 

A few other relevant (and concerning) statistics from the study:

  • Global assets under management (AUM) fell nearly 10% from 2021 to 2022.
  • The amount of assets managed by robo-advisors is growing and expected to more than double from 2022 to 2027.
  • 73% of asset managers are considering joining with another existing asset manager. 

And while PwC also notes that AUM will likely rebound by 2027, that doesn’t do much to ease the concerns of asset managers operating in the here and now. With all of the above statistics in mind, it’s apparent that asset managers need tools that can set them apart and get their solutions in front of advisors. 

Several model marketplaces have attempted to fill this void, but while they may serve as a distribution channel, most are missing one key piece: enabling better communication between asset managers and financial advisors.

Furthermore, asset managers need a solution that not only allows them to get their strategies in front of advisors, but to showcase their value-add – something that says you’re not just offering a service, but a true strategic benefit to these firms. 

That’s where Amplify’s Mesh comes into play. Today, we’re exploring how this cutting-edge distribution platform is changing the game for asset managers everywhere. 

What is Mesh?

Imagine if there was a social media feed just for asset managers where you could publish information and updates for financial advisors – that’s Mesh

Mesh allows you to reach advisors already within your sphere, as well as advisors potentially interested in working with your organization. Within the platform, you can publish relevant information about your services and strategies. 

The streamlined distribution platform offers an opportunity for your asset management firm to both store and disperse key materials and resources to all stakeholders – in just a few simple clicks. 

Just like a social media platform, Mesh allows you to enable tracking and measure engagement, so you can optimize your communication and outreach efforts. Want to see how many advisors are subscribed to your news feed? How about the number of advisors who use your training materials? All the data is there and easily accessible for your team.

The Advisor Perspective

Financial advisors are busy people – they struggle to find time to connect with clients, keep up with compliance and balance a personal life. In fact, a recent J.D. Powers survey shows that 28% of advisors report not having enough time with clients. That same group of advisors are also more likely to say they “probably will” stay with their current firm in the next 1-2 years, as opposed to “definitely will.”

Numbers like that don’t exactly give confidence if you’re a firm focused on advisor retention.

Over time, that constant rush to do “everything at once” can lead to communication gaps, especially with their asset management team.

That also means any tools that can save time and improve efficiency are more important than ever in the financial planning space. Enter: Mesh. 

For financial advisors, Mesh offers an opportunity to easily connect with asset management partners. Once subscribed to your Mesh profile, they’ll be able to keep up with any news and announcements. 

They can also easily view any training materials, a calendar of upcoming events, push notifications and other so on. When a financial advisor has a question or is in need of a certain document, they can skip the email queue and check straight in Mesh, allowing for streamlined and more effective partnership between your organizations. 

Streamlining Internal Communications

The goal of Mesh is to reduce barriers in assessing and consuming intelligence. It’s all about building transparency between you and your team, whether you’re speaking to everyone in your organization or sending a direct message to a specific individual.

As you can see in the screenshot below, Mesh offers a Wiki-esque space for your asset management team to function within. You’ll receive important reminders of calendar events and have access to organized files you need to access often and quickly. 

The Mesh platform is one key piece of Amplify’s larger all-in-one RIA Operating System, or ROS. 

Rather than just sharing digital asset indexing, you can now distribute:

  • Policies and procedures manuals and updates
  • Relevant institutional investment research
  • Marketing collateral
  • New and events
  • And more

As your team members hone in with more focused communication channels via Mesh, you can expect fewer errors, optimized retention and even higher stakeholder satisfaction. 

Find Greater Efficiency Through Amplify’s ROS

Amplify is on a mission to simplify the financial planning process by simplifying communication, streamlining processes and facilitating transparent partnerships. When your organization is ready to level up, we’re here to help. Connect with a member of our team today to get started with Amplify.