Canadian investment managers are stepping up their client service capabilities in an effort to meet growing demand from institutional investors for advice and assistance, according to a new survey from Greenwich Associates.
The consulting firm Wednesday announced the results of its latest annual Canadian Institutional Investors Study, which asks investors to rate the asset managers they employ on a series of key service-related factors.
The firm reports that the asset managers that garnered the highest relative scores in the latest survey (in alphabetical order) are Burgundy Asset Management, Connor, Clark & Lunn Investment Management and Phillips, Hager & North Investment Management. These firms were named Greenwich Quality Leaders based on the fact that their Greenwich Quality Index (GQI) scores beat their competitors by a statistically significant margin.
“Managers that satisfy clients and receive high scores in quality ratings have higher rates of asset retention in times of underperformance and better success rates in cross-selling,” says Greenwich Associates consultant Davis Walmsley.
Greenwich reports that the renewed focus on service among investors is driven by their demand for “outcome-oriented solutions”, as well as a willingness to accept advice that helps them meet their investment objectives. This demand represents a significant opportunity for investment managers, it says.
“With investor expectations increasing, it is more challenging for firms to distinguish themselves from competitors with truly outstanding service,” says Walmsley. “This year’s winners exhibit a commitment to providing a superior level of client service.”