Chris Martinez, CFP®, Managing Director of Oakbrook’s Family Office Practice, Contributes to Recently Published Report from FWR and PCR, “Client Reporting: Or is it Client Communications?”

The exclusive Family Wealth Report (FWR) research, conducted alongside US fintech firm Private Client Resources (PCR) takes an in depth look at client communications and the new era of client reporting. The report focuses on developing a quantitative discussion of the challenges and opportunities facing today’s family wealth advisory practices.

Exploring the maturation of the family office practice as a business, the changing private client, and “game-changers” that are likely to re-shape how wealthy families interact with their advisors, this research takes a closer look at emerging trends related to client reporting.

Amid the dynamic and quickly growing Robo advisory space, wealth managers are under increasing pressure to provide an improved client experience as it relates to what has historically been referred to as “client reporting”. The ability to provide this type of instant communication can be a key differentiator and a vital way to deepen client engagement.

With only half of the respondent firms being able to offer personalized qualitative commentary into each client’s portfolio or to quickly alter the timing and presentation of data, it seems that customized reporting is currently far from customary.

Fewer than a tenth of wealth management professionals are highly satisfied with their firm’s current reporting capabilities illustrating just how large the gap between expectation and reality actually is, not only for HNW individuals but for their advisors as well.

Client Reporting: Or is it Client Communications? is a 36-page report featuring 22 data points with detailed commentary from 11 senior industry executives, including Oakbrook’s Chris Martinez.

Learn more about where your firm stands against its industry peers on the performance reporting front and where the most important and profitable areas for change lie by downloading your complimentary copy of the report today.

October 19, 2016