Across Europe, the rise of the External Asset Manager (EAM) – otherwise known as Financial Intermediary Managers (FIMs) – is a trend that couples huge potential gains with added complexity for the client lifecycle management (CLM) of banks and wealth management firms.
It is a phenomenon fuelled by both sides. Experienced former bankers are attracted by the rewards and the independence of working for themselves. At the same time, the banks win too – by buying in the expertise and an established client base of HNWIs – a bridge to increased revenues and reduced costs.
This is a scenario in which banks can deliver more choices as to who manages their clients’ money for the best return. Indeed, the EAM is hyper-agile and flexible – able to propose the ‘best-of-breed’ solutions for clients and offer a more strategic, independent viewpoint.
However, attracting EAMs requires some investment.
In exchange for their expertise and agility, the EAM requires tools to reduce the administrative burden and enable automated fee calculation, digital onboarding, and event-driven client reviews.
Learn more about this topic by downloading our extract from the Swiss WealthTech Landscape Report and find out if your CLM is ready for the rise of the External Asset Manager.
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