With AUM Under Pressure, How Can You Leverage Your Market Data to Boost Your Margins?
Wildfires, floods, hurricanes, terrorism, pandemic. Locally or globally, catastrophe has been arriving with greater frequency and intensity than ever before. Many of these incidents have also heralded significant market swings. But none have been so drastic and sudden as the one caused by the coronavirus. In just weeks, the global financial markets lost historic chunks of value. With AUM down significantly, wealth managers and financial advisors are under tremendous pressure to protect margins. Where can you cut costs rapidly? You might start by looking at your financial market data provider. It’s not a question of doing away with market intelligence and up-to-the-minute financial data—you must have these to continue operating effectively. But how much data is necessary? And how much should you be willing to pay for it? If you are using a legacy mega-provider, then you could be paying too much for more data than you actually need. Financial market data for wealth managers: not a one