How AI Benefits Asset Management Firms: Managing Pipelines and RFPs

In the competitive landscape of asset management, information is king. Without data and easy access to it, every facet of your business is impacted. It’s important to have the right processes and technology to access and manage your data. This video series discusses 6 areas in which Artificial Intelligence (AI) can make a difference in how your firm operates. If you haven’t already, read the introduction: 6 Ways Asset Management Firms Can Benefit from Artificial Intelligence, and Part 1, Managing Wholesaler and Retailer Lines of Business.

This video demonstrates how AI can help you more effectively manage your pipeline and RFPs. You’re constantly presented with opportunities, so how do you decide which ones to pursue? Will it be worth all the time and energy it takes? Traditionally, you either take your best guess, evaluating some criteria to do so, or you try to respond to everything. Either way, you’re not making the smartest decision—and AI can help.

How do you decide which opportunities to pursue?

In our experience, wholesalers and account managers typically worked only within the retailer or wholesale space. More recently, however, we’ve seen the lines blur between those areas and the institutional private spaces. Reps will often work on institutional sales engagements when working with private clients, which means working through third party consultants, and that often means RFPs.

With dozens or possibly hundreds of RFPs coming in, each requiring different levels of information and effort, you can’t realistically respond to them all—nor should you. So how do you decide which ones to focus on? Account manager wholesalers are able to do it, but it’s time consuming and because they can’t process the vast amounts of information and data that help to make these decisions, often they’re not choosing the opportunities with the most potential for return.

This is where AI and machine learning come into play. AI can look at opportunities and RFPs, combining that information with approved strategies, consultant ratings, key accounts, even branches and other RFPs and third parties you might be working with to determine likely AUM and other information you need to make your decisions. This saves everyone time and effort, freeing you up to focus only on those opportunities that have the most potential for return.

If you think AI is science fiction, think again. With the right technology, like Microsoft Dynamics 365 CE (Sales), AI is ready and waiting to help you capitalize on the right opportunities.

Watch this video to see how artificial intelligence (AI) and machine learning can help address this challenge and stay tuned for more videos in the series.

By | 2019-03-25T20:18:30+00:00 March 20th, 2019|Machine Learning/AI|0 Comments
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Contributor: Michael Hammons

In his role as Director of Customer Experience, Mike leads initiatives to ensure a consistent, positive experience for every customer, from setting expectations in the first meeting through ensuring satisfaction upon project completion and beyond. In addition, His goal is to help customers identify ways to leverage their existing technology investments to address new initiatives and make continuous process improvements.

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