Client Reporting - A Missed Opportunity for Wealth Managers?

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24 April 2019
Ashley Longabaugh

Client reporting is not new to the wealth management industry - wealth managers are required to provide portfolio and investment reporting to their clients. With the aid of today’s fresh technology, wealth managers have an opportunity to ultimately deliver a better client experience – and what wealth manager wouldn’t want that in today’s environment?

However, these reports are often focused on simply fulfilling regulatory requirements and result in a report filled with complex, low-value data spread across multiple pages. Wealth managers can swivel this otherwise mundane task into an advantageous point of interaction by engaging further with clients.

Wealth managers miss this seemingly obvious opportunity to round out the ultimate client experience by failing to provide a clear, personalized, digital, reflective and achievable path forward for clients. Some of the issues that wealth managers face in delivering this instructive vision is associated with cost, scale, advisor bandwidth, and overcoming legacy systems. For example, a mid-tier wealth management firm typically handles tens of thousands of client portfolios. As such, automation features are a critical component to enabling the scalability and management of large data volumes.In cases where scalability is not achievable, wealth managers present a generic or “canned” view of a client’s portfolio instead of a customized report.

My upcoming report, "Client Reporting: The Shift from Delivering Low Value Data to High Value Information" explores how client reporting is one component of the holistic client experience. The study also provides a market update of client reporting from both a business and technology perspective.


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EMEA, North America