• cultivating investor relationships;
• repairing investor trust through transparent business practices;
• enhancing market reputation; and
• gaining competitive edge by employing communication tools, marketing techniques and technology.
Technologically, customer relationship management (CRM) applications are enabling financial professionals to meet the new obligations of their positions. The move to CRM was certainly sparked by the downturn in the market; when investors feared losing money, they demanded more information and insight into their investments.
Rather than scrambling to address individual investor questions as they arise, forward-thinking fund managers implemented CRM applications to manage these queries more efficiently. Many firms now use CRM as the foundation for investor extranets that deliver on-demand access to transaction histories, account balance statements and other fund information.