|
Laxman Pai, Opalesque Asia: Advisors and alternative investors embrace automation to manage data and workflows, finds a survey.
According to a report "The Role of Technology in Managing Alternative Investments" by Canoe Intelligence and WealthManagement.com, 54% of respondents in the survey spend at least 10 hours a week managing documents for alternative investments.
Firms with AUM of $1 billion or more are likely to have 10 or more employees devoted to client reporting and/or managing alternative investment workflows, said the survey of more than 400 advisors and alternative investors.
65% of respondents plan to move away from manual processes to solve alternative investment data challenges, said the report.
Only 41% of respondents currently use automated technology to manage alternative investment documents and data workflows, it said.
81% of respondents who outsource the management of their alternative investments, experience challenges in performing this work.
30% of advisors report access to alternative funds and investment products as a pressing issue.
The advisor community has rapidly adopted alternative investments in recent years due to shrinking returns in traditional asset classes, pressure to differentiate, and increased client demand. This shift has not come without pain points.
In the report, survey respondents cited data reconciliation and validation, and a high volume of manual work among other challenges. More than half of respond...................... To view our full article Click here
|
RSS
