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As we approach 2024, the investment management landscape is poised for a significant transformation. The catalyst behind this change is the growing ubiquity of technological advances like cloud and AI, which are becoming strategic imperatives for growth-minded firms. In an industry where the personal touch and in-depth understanding of investor needs has always been paramount, modern technology offers unprecedented opportunities to deepen client relationships and enhance service delivery.
Ridgeline VP of Product Strategy, Ali Stewart, recently discussed how investment management firms can leverage modern technology for growth with two client service leaders: Tom Builder of Cornerstone Investment Partners and Krystal Proctor of Argent Capital Management. Here are some highlights from their conversation:
1. What’s top of mind for you and your firm as you look to 2024?
Tom Builder, Partner and Sr. Director of Marketing and Client Service, Cornerstone Investment Partners: “My main focus is client service. So we are really looking forward to having all of the data in one place within Ridgeline. We want to focus our efforts to get to know our clients better so we can service them better.”
Krystal Proctor, Director of Client Service, Argent Capital Management: “Ridgeline is going to allow us to focus more externally on building even stronger relationships. We’re excited about that.”
2. How do you handle increasing client demands for data?
KP: "The needs haven't changed but the world just moves at a faster pace. We receive requests for data, usually on a short timeline. Ridgeline has allowed us to meet those deadlines in a really fast-paced environment. We're able to pull a lot of data from one system; in the past, we've had to access 3 or 4 systems to pull together one client report."
3. How does technology influence the interactions you have with clients?
TB: "When this client (who we've had for years) calls, I now just put his name in the global search feature. I see the performance, recent transactions, notes on a particular trade. Before, you had to run a report and download, reload, sort, filter. Seeing everything in one place makes it a lot easier."
KP: "External reports we share with our clients overall have a more professional presentation and the information is more digestible. So [the transition to Ridgeline] has been a really seamless process that hasn't required a lot of [client] communication, which is a positive thing."
4. What capabilities on Ridgeline are proving critical to operating at scale?
KP: "We have hundreds of internal emails floating around every day and it can get really overwhelming. Ridgeline workflows are going to make internal work more efficient for us. And it's really exciting to be able to capture all of our client communications in Ridgeline where all of our data sits."
TB: “Before I get to the features, I want to acknowledge the service and support from the Ridgeline team — they have been so responsive. Through the whole implementation, there was no B team, the quality of folks we’ve worked with has been phenomenal all the way through.
Some of the features that have made things easier are the global search feature; you can find anything you want within the system. And I also use "favorites" — instead of having to navigate to a lot of reports, you can move around the system very quickly. There's a lot we're looking forward to."
5. Why does it matter to partner with a forward-thinking vendor?
TB: “One of the things I’m most looking forward to is hearing about Ridgeline’s work with AI. When you can partner with a vendor who is on the cutting edge of that, it’s something that everyone’s very excited to see where it goes.”
6. Why was this the year for your firm to move to Ridgeline?
KP: "The evolving investment landscape played a big role in our decision to move to Ridgeline. We realized to stay cutting edge and meet growing client needs, we had to utilize the best available tools out there; Ridgeline is just that. We’re a team that wants to continuously improve and we knew we had to make this change to improve our ability to meet our clients’ needs. So everyone around here really embraced it.”
Ridgeline’s modern technology enables firms to respond more effectively to market changes and client demands. These clients expect seamless, responsive, and personalized experiences – something Ridgeline is uniquely positioned to provide as a cloud-native, AI-embedded platform. By embracing these changes through the right provider, firms can not only meet but exceed clients’ evolving expectations, setting the stage for enduring client relationships and business growth.
We welcome the opportunity to discuss how Ridgeline can support your firm's goals in 2024 and beyond. Please request a demo and we will get back to you promptly.
