All insights

Curiosity is a core human characteristic. We have a need to understand how we compare, to know what others are doing and identify where we are leading or lagging.

Fortunately for asset and wealth management CMOs, Alpha Agency has the inside track.

Each year, we invite Chief Marketing Officers from across the industry, and across the world, to take part in CMOx, an annual survey where we ask them in-depth questions about their plans, challenges and aspirations.

CMOx is more than just a report; it is a community. We recently held events in London, Paris and New York where CMOs gathered to talk shop, discuss ideas and share insights.

The full report is reserved for participating firms, but there are a few nuggets of information we can share about their strategic priorities over the coming three-to-five years.

For context, we break participants into five groups based on each firm’s AUM.

  • Boutique/small - <$50bn
  • Medium - $50bn - $200bn
  • Large - $201bn - $500bn
  • Extra Large - $501bn – $1,000bn
  • Trillion+ - >$1,000bn

Boutique/small and medium-sized firms chose brand strategy as their top priority.

There is no shortage of firms operating across asset and wealth management, which means standing out is incredibly difficult.

Firms often struggle to formulate and articulate their identity, purpose, proposition, and value add.

Homing in on key areas that are truly ownable; crafting language that makes your story clear and meaningful; engaging with your target audience in an authentic way… these are just some of the challenges small and mid-sized firms are facing and where they intend to spend some time and energy in the coming years.

Every group listed 'Technology, AI and Automation' as a priority, but the Trillion+ cohort put it to the top of their list by a healthy margin.

While size undoubtedly has its benefits, it can also be a burden. The curse of being in front is the need to stay ahead of the pack and, especially when you’re one of the biggest names in the market, that pressure is real.

Client expectations only ever go up, and legacy systems can add friction and frustration to even simple transactions.

Not to mention the newer, more tech-forward firms entering the market every year, each working hard to win business. I mean, who doesn’t want to be able to say they won a client from a Trillion+ firm?

But it’s not just about keeping their noses in front. The 'Technology, AI and Automation' promised land also has the lure of cost savings and greater efficiency. Both of which are, understandably, hugely attractive to the mega managers.

Additionally, the wider a firm's footprint, the harder it is to maintain consistent oversight and control. For big asset managers with international offices that can mean duplicated processes, redundant or incompatible systems, as well as multiple sites and social media accounts.

The challenge for firms of all sizes is to audit what they have, identify their priorities, rationalise what they don’t need and then figure out which tools will grow with their business.

Large and Extra-Large firms are focused on campaigns, with Trillion+ asset managers also making them a priority.

As alluded to above, larger firms are complicated. It’s incredibly difficult to sum up the breadth and depth of their capabilities and services in a neat little package.

This is where smaller firms, especially boutiques, have the advantage. Their brand may be synonymous with a particular asset class or strategy, which means campaigns do not compete with one another. The whole firm is rowing in the same direction. This likely goes a long way to explain why campaigns are less of a priority for this group.

With larger firms, it’s not quite as straightforward. More divisions, specialisms, strategies and managers means more internal competition for resources – and that’s before the campaign goes out into the world to compete with rivals.

Investors choose what they recognise, understand and trust. And campaigns are a key part of that, as they extend the conversation beyond a firm’s brand attributes and into the specific ways it can support clients.

When done well, campaigns add colour and texture to people’s understanding of what a firm can do for them. And that’s the primary challenge asset and wealth managers face; how to design and promote eye-catching campaigns that speak to genuine needs, connect in an authentic way and differentiate their offering from the rest of the market.

Get involved

It bears repeating that Alpha Agency's CMOx is more than just a report - it is a community.

If you are interested in finding out how you can take part, please reach out to [email protected] for more information.