3 Investment Performance Reporting Must Haves for 2023

Essentials for Delivering an Exceptional Client Experience to an Increasingly Savvy Investor Base

Are your wealth management platform’s investment performance reporting capabilities able to support the exceptional client experience demanded by today’s increasingly savvy investors?

Having the right capabilities at hand builds up client confidence in you and your services. It empowers you to easily answer questions about investment decisions and produce customized reports in response to just about any client request within minutes.

Without the right capabilities, you’re left fumbling for answers and reliant on vendors to develop custom reports that could take days or weeks to develop. More importantly, you’re also left with disgruntled investors.

Below we dive into three essentials your investment performance reporting solution must have to support an exceptional client experience.

  1. The flexibility to interrogate financial data and answer client questions (or your own)

    Explaining why a specific investment approach was taken and why certain investment decisions were made is an important part of any wealth manager or investment advisor’s job. This requires the flexibility to generate detailed reports that meet each client’s unique needs at a moment’s notice. However, it often isn’t possible—or easy—with many wealth management platforms because reports are often canned, or don’t drill down to a granular level of detail.

    For example, you may be able to produce a report that breaks down a client’s 401k asset allocation by equity, fixed income and cash. But if the client asks to see a breakdown by sector or industry, you will need to buy yourself some time—and client goodwill—while you contact your software vendor and request a custom report that might not be ready for weeks. These delays can erode client trust, and even your budget since custom report development is typically not a free service.

    Specialized investment reporting solutions like GreenHill’s ReportQuest enhance the reporting functionality provided by leading wealth management platforms so you can generate the customized, detailed reports you need exactly when you need them. They enable you to easily drill down to a highly granular level of detail on the fly and run reports for different time periods within a given month so you can quickly respond to client questions and requests.

    If you are unable to figure out how to generate the exact report you need, a boutique firm like GreenHill can help by providing a dedicated account manager that will step in to build it for you—typically within minutes—for no extra cost.

  1. The ability to make better decisions by seeing the entire investment picture

    Making fully informed investment decisions and providing the expert guidance clients need to reach their financial goals requires understanding the client’s entire financial picture. Having access to information about all their assets—not just the ones you manage—enables you to confidently present advanced reporting that optimizes decision making and boosts client trust in you and your services. 

    Specialized investment performance reporting solutions like ReportQuest that work alongside leading wealth management platforms provide these advanced reporting capabilities by incorporating asset information from external sources. These capabilities can increase client loyalty, which in turn compels investors to entrust you with the management of additional assets and provide referrals to family and friends. The additional revenue this ultimately drives can more than offset the cost of purchasing the solution. 

  1. A dedicated, trusted account manager that supports reporting needs and thoroughly understands your unique goals

    When you have a reporting issue, there are few things worse than calling a toll-free number and talking to someone who doesn’t know your business and barely understands your platform’s performance reporting functionality. And then says they’ll “put in a ticket”— a ticket that is often handled by yet another person with no historical account information, who attempts to address the issue without fully understanding the context.

    In addition to being extremely frustrating, this impacts your ability to provide your clients with the data and insights they need in a timely manner. This can erode your client relationships and ultimately client retention.

    To avoid this downward spiral, look for a performance reporting solution that provides a dedicated account manager—one point of contact that is committed to understanding your business inside and out, and has deep expertise in investment performance reporting.

    At GreenHill, for example, each client has a dedicated, U.S.-based account manager with a finance or analytics background that is personally involved in auditing and reconciling each client’s data. This deep industry experience enables them to quickly provide clients with answers to their toughest questions and rapidly address issues or custom report requests. They also understand why you’re asking for specific reports, which is invaluable in helping you achieve your goals.

    The fast, personalized service a dedicated account manager can provide ensures you have everything you need, right when you need it, to optimally service your clients. 

Ensure an exceptional client experience with GreenHill

Providing accurate, timely investment performance reporting tailored to each client’s needs is vital to building client trust and ultimately your revenue. Complementing your wealth management platform’s reporting capabilities with an investment performance measurement solution like ReportQuest ensures you have the comprehensive reporting capabilities required to support an exceptional client experience and gain a competitive advantage.

GreenHill is well known for delivering reporting excellence supported by a trusted, experienced customer service team. Schedule a demo today to see ReportQuest’s powerful investment reporting capabilities firsthand.