Current Challenges
Our recent survey on ‘Product Trends in 2020’ found that the average time to take a fund from idea to launch is 8 months.
The launch of new products and mandates is a complicated process and can be stressful. The need to maintain a relevant product range and solution offering in an increasingly competitive environment is exacerbating the pressure on asset managers to make new launches a success.
In the age of fee pressures, regulatory scrutiny and customers seeking seamless digital experiences, the costs associated with inefficient launches, the potential reputational risk arising from errors and opportunity cost of delayed timelines can no longer be ignored.
We have identified five main reasons why challenges in launching new products and mandates continue to be an industry problem:
How asset managers can respond
Asset managers should invest the time and resources to analyse their ‘product operating model’ and launch processes to ensure that teams are structured to successfully support new business. Adjustments to their operating models across people, process, technology and data can benefit asset managers by:
- Enhancing customer experience
- Boosting staff morale and increasing productivity
- Differentiating against competitors
- Improving time to market with new products and solutions
How Alpha can help
Alpha has extensive experience in designing optimal target operating models and technical solutions across the value chain of asset and wealth managers. In recent years we have supported some of the most strategically important product initiatives for our clients, helping them improve their ways of working and successfully deliver complex changes to their product range. From centralised Product Book of Records to automating launch processes, we have helped asset managers realise greater efficiencies in their ways of doing things, allowing product personnel to add greater value and strategic insight to Asset Manager decision making.
If you’d like to know more about how Alpha can help your product function, then please contact us.
You can find additional thought leadership articles on Product within our Alpha Outlook 2020
About the Authors
Anthony Boakye-Mensah
Manager
Anthony is a Manager at Alpha with over nine years' experience within asset management. He has experience in helping clients optimise processes across multiple functional areas using workflow and low-code technology and is part of Alpha's Product proposition team.
Tim Quaye
Senior Manager
Tim is a Senior Manager and one of the founders of Alpha's Product Practice. Tim led Alpha's 'Product Trends in 2020' research, engaging with Senior Product Specialists from across the Asset Management Industry to identify the biggest challenges they will face in the coming year. Tim has been a consultant for 10 years, he has recently helped clients on projects including: fund range assessment, identification the optimal fund vehicle, and development of the launch strategy for a fund range in a new geography.