The Practice Innovation Index offers personalized insights and actionable insights designed to help deliver better outcomes to clients
ATLANTE, May 18, 2022 /PRNewswire/ — Invesco Ltd. (NYSE: IVZ), one of the world’s leading asset management companies, and Cerulli Associates, a leader in market intelligence and advisory solutions for asset and wealth managers, announced today today the launch of the Practice Innovation Index. The Practice Innovation Index is a numerical analysis tool that compares key traits and characteristics of financial practices in four key areas: business development, wealth management, client service and the practice. This benchmarking methodology leverages over ten years of Cerulli survey data to analyze where a practice ranks among its peers and provides a personalized roadmap designed to help them grow their business.
“The Practice Innovation Index was created by combining the power of Cerulli’s cutting-edge research with the strength of Invesco’s robust professional finance business development programs,” said John McDonough, Head of US Wealth Management Intermediary Distribution at Invesco. “The practices of finance professionals are confronted with the increasing complexity of business and the demands of clients. Invesco is committed to being their partner of choice, working to help them strengthen their practices so they can focus on their clients.
Invesco and Cerulli believe that successful finance professionals measure their success by the impact they have on the lives of their clients. According to a recent study by Cerulli, advisors most often identify new client acquisition (52%), compliance (40%) and technology management (30%) as the top challenges in their practice.1 The Practice Innovation Index can help finance professionals by identifying opportunities to improve all aspects of their business and increase their value for clients. The tool goes beyond benchmarking a practice based on assets and income. The Practice Innovation Index holistically assesses a finance practice with the goal of identifying relative strengths and opportunities to help deliver better business and customer service results.
“Advisors today face the challenges of meeting the demands of investors, financial markets and regulators, while striving to scale their businesses,” says Chess Asher, Associate Director of US Wealth Management at Cerulli. “To help them address these business challenges, Cerulli and Invesco have created the Practice Innovation Index, backed by the industry’s longest-running advisor survey,2 to provide a quantifiable tool designed to compare characteristics of industry best financial practices and ultimately enable advisors to help their clients achieve their financial goals.”
The Practice Innovation Index begins with a financial practice assessment, comparing the top performing finance professionals, across the four key areas of their practice. Responses are scored and compared by the Practice Innovation Index’s proprietary methodology, which is powered by Cerulli’s data from more than 3,000 finance professionals. Each question is scored against the benchmark, and results are displayed for each of the four categories and overall, highlighting the financial practice’s ranking among its peers. Finance professionals then receive a personalized roadmap designed to build on their strengths and seize opportunities for improvement. For more complex financial practices, advisors could have access to dedicated coaching from Invesco to help them create action plans.
The practice’s Innovation Index is part of Invesco Total CX – the total client experience – an all-in-one platform of tools, coaching and content designed to help finance professionals connect with customers, improve their businesses and optimize portfolios.
To learn more, please visit the Practical Innovation Index website and the Invesco Total CX page.
1 Cerulli Associates, Advisor Metrics 2021 in the US: Customer Acquisition in the Digital Age, December 2021. Used with permission.
2 The largest ever study on the language of financial services has been conducted by Invesco Global Consulting and Maslansky + Partners since 2007. Neither Invesco Distributors, Inc., Cerulli Associates nor Cerulli Inc. are affiliated with Maslansky + Partners.
About Invesco Ltd.
Invesco Ltd. is an independent global investment management firm dedicated to providing an investment experience that helps people get the most out of life. Our distinct investment teams offer a full range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco has managed US $1.6 trillion of assets on behalf of clients around the world March 31, 2022. For more information, visit invesco.com.
Invesco Distributors, Inc. is the US distributor of Invesco Ltd. It is an indirect wholly-owned subsidiary of Invesco Ltd.
The Practice Innovation Index program is based on Invesco Global Consulting’s work with Cerulli Associates. Invesco Distributors, Inc. is not affiliated with Cerulli Associates or Cerulli, Inc.
Invesco Global Consulting programs are illustrative, informative and educational. We do not guarantee that participation in any programs or use of their content will result in increased business for any finance professional.
It does not constitute a recommendation of any investment strategy or product for any particular investor. Investors should consult a financial professional before making any investment decision.
About Cerulli Associates
For more than 30 years, Cerulli has provided global asset and wealth management companies with unparalleled, actionable insights. Based at Boston with full offices London and Singapore, Cerulli Associates is a global research and advisory firm that advises financial institutions on strategic positioning and new business development. Our analysts combine industry knowledge, original research and data analysis to put current market conditions and forecasts of future developments into perspective.
Contact: Jamie Braverman212-278-9630, [email protected] and Karleen Fallon617-841-1005, [email protected]
SOURCE Invesco Ltd. ; Cerulli Associates