In today’s data-driven environment, asset managers need to understand that accurate, consistent, and complete information is more than a back-office function—it's a strategic advantage. Yet, many firms struggle with missing data in their consultant databases, jeopardizing their ability to maximize Assets Under Management (AUM) and sustain competitive momentum.
Gaps in data within consultant databases don’t just represent minor oversights. Whether stemming from incomplete sections, outdated information, or simple data entry mistakes, they can all result in lost investment opportunities, skewed insights, and diminished transparency with clients and consultants. Addressing missing data is no longer optional; it is foundational to achieving growth and maintaining a strong presence within your peer universe.
The Hidden Cost of Incomplete Data
According to various studies, poor data quality can lead to losses of around $9 - $15 million annually for medium to large companies. This cost comes from inefficiencies, lost revenue opportunities, increased operational costs, and poor decision-making. A staggering 73% of business leaders are dissatisfied with their data quality, while 61% say they cannot effectively leverage their data for a competitive edge, according to studies by IBM.
The asset management industry is no exception. For asset managers, the stakes are high. Incomplete or incorrect data directly affects database reporting accuracy, and impacts investor decision-making, and potential client engagement. More importantly, it can significantly impact your firm's ability to raise AUM.
Why It Matters: The Broad Impact of Data Gaps
Addressing missing values is about more than filling in blanks—it’s about fortifying your business against a wide array of risks:
· Lost Investment Opportunities: Incomplete data disrupts the ability of consultants and investors to analyze performance and other metrics effectively, which may cause you to miss out on valuable investment opportunities.
· Eroded Client Relationships: Missing or incorrect data can result in misled communication, missed touch points, and subpar client engagement. In an industry where trust and relationships are everything, this can drive clients straight into the hands of competitors.
· Regulatory and Compliance Risks: Inaccurate or incomplete data can lead to reporting errors that expose your firm to regulatory penalties, reputational damage, and potential legal challenges.
· Market and Competitive Insights: Without clean, comprehensive data, it's nearly impossible to extract reliable insights from market trends, meaning firms lose their edge in responding to shifts and opportunities.
How IMSS is Transforming Data Management
At IMSS, we understand that solving data challenges isn’t just about plugging holes—it’s about rethinking the entire approach to consultant database reporting. Our Data-Centrix technology offers an innovative, automated solution for expediting the distribution of information across global databases with precision and ease.
However, what truly sets us apart is our hands-on, personalized approach to ensuring data accuracy. We don’t just offer technology; we partner with firms to review their data processes, identify deficiencies, and implement corrective actions. We aim to drive AUM growth by empowering managers with complete, reliable data profiles that attract more consultant attention and client confidence.
With IMSS, firms can achieve a 90-100% completion rate across databases, ensuring no opportunity slips through the cracks. Our direct engagement and proactive feedback ensure that our clients solve today’s data issues and position themselves for long-term success.
The Bottom Line: Data Completeness is a Strategic Imperative
Asset managers must recognize the impact of missing or poor-quality data reporting. The firms that will thrive in the future treat data management as a strategic priority, addressing gaps today to unlock tomorrow’s growth.
Let IMSS be your partner in transforming your data from a liability into an asset. Together, we can help you achieve the kind of comprehensive, accurate consultant database reporting that drives better decisions, stronger client relationships, and higher AUM.
Looking Ahead
These strategic changes reflect our commitment to delivering best-in-class service and innovative solutions for our clients. As we continue to grow and evolve, we remain dedicated to fostering strong relationships and meeting the diverse needs of our customers.
Thank you for being a part of our journey. We look forward to working with you and what lies ahead!
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