Three Tips to Stand Out for the Asset Management Buying and Selling Experience

Since transactions are one of the most important elements of the business, we offer research-backed tips to stand out among competitors for the asset management buying and selling experience. After all, transactions performed by asset managers for their individual retail investors are the cornerstone of the industry’s business model.

So, what happens when firms clog up the process? What is the upshot of firms’ failing to showcase their buying and selling capabilities, dragging out the processes over several steps or neglecting to send transaction confirmation emails?

In this digital age, the simple answer is a loss of business. Firms must focus on customer experience and—for buying and selling—this means ensuring asset management clients can easily manage investments online.

1. Make it known: make transaction capabilities easily findable

To start the asset management buying and selling experience off right, firms should make sure transaction capabilities are findable by linking them in multiple locations. While almost all firms in the Asset Management Monitor – Investor coverage set connect clients with buying and selling features on the secure site account information page, just this one location is not enough. Other high-traffic options to consider are the following:

• Secure site navigation menu – Links here would enable clients to access transaction options from any page on the secure site
• Secure site fund information pages – Links here would enable users to make purchases as they do their research
• Public site fund information pages – This would appeal to both current and prospective clients, in addition to creating a streamlined process from research to purchase

American Century stands out for offering the final option with a unique Buy Now button on its public site fund pages.

2. Less is more: simplify the asset management buying and selling experience

Once an investor initiates a transaction, they look to complete it quickly. Asset management firms average about four steps to buy or sell, but these transactions can typically be completed in just three steps:

Buying:

1. Account or funding selection
2. Fund choice and investment amount
3. Confirmation

Selling:

1. Location for deposit
2. Fund choice and selling amount
3. Confirmation

Combining transaction steps onto a single page can help asset managers and firms cut their processes to just three steps. Step counters—like the one featured below from Janus Henderson’s site—are a great way to streamline the process. They help investors identify both how long a transaction will take and where they are in the process.

3. Email is everything: give investors peace of mind with clear confirmations

While firms must confirm all buying and selling transactions through mail or on the investor’s secure site accounts, sending email confirmations is inarguably a best practice. Without this quick communication, investors may worry that their transaction didn’t go through.

Firms can distinguish themselves by sending two separate emails to investors: one to confirm the transaction request and a second to notify investors of transaction processing and completion. If they’re looking to go above and beyond, they can try the following additions:

• A logo to ensure clients do not disregard the email as spam
• Customer service information to connect investors with the firm if they have further questions
• The transaction time so users can double-check for security purposes
• Additional resources to showcase the firm’s other offerings

Janus Henderson provides a great example of an engaging two-email follow-up system. It not only confirms the transaction but also connects investors with other resources.

These buying and selling transaction tips will help asset managers create superior customer experiences and stand out from their competitors. To learn more about the user experience asset management firms provide to investors, contact us about our Asset Management Monitor research services. And for an in-depth analysis across the coverage set, subscribers can access the full report on the asset management buying and selling experience, the first in our series of three transaction-related reports.