Applied Financial Planning

Delivering exceptional client experience with managed accounts

BY  |  

The role of financial advisers is undergoing a profound shift, from technical specialist to relationship-driven coach covering broader strategic advice. To make this transition at scale successfully, advisers need a robust suite of digital tools-with managed accounts an increasingly important part of the toolkit.

At the height of market volatility in 2020, Macquarie saw prolonged trade volumes over a number of weeks. For many financial advisers, it was a true test of the managed accounts model. Those using managed accounts could quickly adjust strategies-across hundreds of clients simultaneously-without having to chase authorisation or choose who would benefit first. Advisers could also easily invest in new opportunities as they emerged, and had more time to be available for clients during a period of great uncertainty.

From a client's point of view, this ability to respond was more or less assumed. Salesforce's State of the Connected Customer report of October 2020 found that client expectations of technology use have accelerated, especially after experiencing new standards of digital service throughout the pandemic. This report and Macquarie's Propensity Project research have found that for some time, client satisfaction has been largely driven by proactive management of their portfolio to achieve the best risk-return outcomes.