AI for Asset Management: Retailer & Wholesaler Lines of Business

AI for Asset Management: How AI Can Help Manage Retailer & Wholesaler Lines of Business

As anyone in the industry can tell you, asset management is highly competitive. At the end of the day, your company’s competitive edge -- or lack thereof -- comes down to two things: having the right data and executing on that data. This video series will help you discover six unique ways that AI can make your business more competitive. If you’re just jumping into this topic, we recommend taking a look at the series’ introductory video, 6 Ways Asset Management Firms Can Benefit from Artificial Intelligence.

In the video below, we look at what AI has to offer when it comes to a particularly challenging part of asset management: wholesaler line of business (LOB) management.

Wholesalers often find themselves stuck sifting through line after line of data, attempting to distinguish the useful from the extraneous. Given that they’re only human, even the most experienced wholesaler will make mistakes in their assessment. And without the necessary data on how their interaction with broker dealers, advisors, and branch offices impacts their overall sales, they don’t have the information they need to make the best possible decisions.

AI can radically improve this situation, as the video below will show.

The information problem: How do you get the data you need, now? 

Businesses across a variety of industries have access to more data than ever before. As useful as data can be, however, managing massive amounts of it presents a challenge. How do you sort through thousands of lines of trade and sales data in an efficient manner? If you spend too much time sifting through data -- even if that data helps you make good decisions -- does the time sink involved result in a net loss for your business?

Identifying trends and determining how specific information affects your advisor relationships is next to impossible when dealing with a mountain of data. A wholesaler needs to both recognize individual trends at the level of the advisor, and at the macro level -- and that’s no small task.

Of course, you can rely on data summaries to help you make the right decisions when attempting to process and utilize data on hundreds (or thousands) of advisors. The problem, though, is that preparing and interpreting data summaries is also a time consuming task. And as with anything else, human error can mean missing out on an important variable or trend. On top of this, observer bias can impact the way that data is interpreted.

All of these challenges can be managed with the help of AI. Artificial intelligence isn’t some far-off strategic possibility of the future: it’s something you can use right now to give your business a competitive edge. In fact, if your business is currently using a CRM, you likely already have access to AI functionality. And if you’re running Microsoft Dynamics 365 for Sales, it’s easier than ever before to put AI to work for your organization.

How AI Can Help Asset Management Firms with Wholesale and Retail LOBs

In this video, you’ll learn how AI can help your business to:

• Acquire valuable insights related to specific accounts and financial flows
• Discover product trends at the micro- and macro-level
• Keep up with changes in client positions
• Automate search processes for gathering trade and sales data
• Decide which accounts to call, when to call them, and what actions to take

Watch this video now to find out how machine learning and AI can give your business a competitive advantage. Stay tuned for future videos in this series.

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