Evolution of marketing in asset management and the state of the market and PE in financial advice
In this week's Hanover Talent Insights:
?? discover the highlights of the new Spring Budget 2023
?? dive deeper into the evolution of marketing in asset management with Christina Ratings
?? update yourself on the state of the market and private equity in financial advice with Stephen Phipps
?? consider joining Hanover Talent Solutions
Spring Budget 2023
Chancellor Jeremy Hunt has unveiled the contents of his Spring Budget 2023 in the House of Commons.
It had a focus on prompting those who have left their jobs to return to the workforce, and boosting business investment.
Here is a summary of some of the main announcements:
State of the market: Private equity in financial advice
Private equity investment in financial advice firms is?on the rise. There’s a strong appetite for mergers and acquisitions, and PE organisations are taking advantage of market fragmentation, brought about in part by cost pressures on smaller advice firms and a retirement generation of financial advisers. I know of more than 30 PE-backed consolidations, and I’ve heard rumours of a few more.
That means PE firms need accurate market intelligence that provides them with more knowledge of the advice sector landscape - support that will enable you to navigate its complexities.?
More than that, I’m speaking to a lot of PE firms that need search experts who know the financial advice market. They need access to the right contacts who can ensure they find the right talent at the right time to fuel their growth and develop robust exit strategies. PE recruiters are experts in their industry, but may not know the?financial advice market?- or who’s who.
Financial advice market intelligence for PE firms
The financial services sector has been increasingly?attracting the attention of PE firms?over the last few years. Why? In part due to robust growth, strong profit margins and consistent cash flow, but also because we’re seeing an appetite from smaller advisory businesses to become part of larger organisations.?
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There’s also the fact that many leaders of financial advice firms are reaching the point of retirement and want to leave their business in good hands. As?private equity?firms typically have a specific investment horizon and exit strategy, they can provide financial advice firms with a clear path to exit and a potential exit multiple that can be higher than the firm may have achieved on its own.
How is a marketer’s role in asset management evolving and becoming your most profitable asset?
The status and profile of marketing in?asset management?organisations has risen significantly over the past couple of years. While marketing’s role used to be subservient to sales, it’s now a revenue generator in its own right.
?Marketers’ strong digital acumen, their ability to commercialise data and produce creative, targeted, personalised, integrated marketing campaigns have resulted in them being able to pinpoint untapped leads that sales have failed to identify.?
?Their understanding of clients’ behaviours and needs makes them one of the most valuable assets a thriving, forward-thinking company can have.
How current marketing and digital trends are affecting asset management
There are a few key trends emerging in marketing that impact asset management organisations, and you need to be on top of these trends to enable your business to thrive.
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