Monday morning briefing – May 13, 2019
Banks must meet customers’ expectations of personalization. Advisor conversations about ESG investing are on the rise. How to effectively reach millennials through social media. And much more in this week’s briefing.
Economic/industry news
The U.S. inflation rate was 2.0% in April: U.S. consumer prices rise; underlying inflation tame
The Canadian unemployment rate fell to 5.7% in April: Canada surprises with biggest one-month jobs gain since 1976
The Fed is concerned with credit markets: Reshaped credit markets are spooking the Fed
Institutional investors looking to emerging markets for higher returns: Institutional investors are all in on emerging markets
A look back at the 2010 Flash Crash: Nine years on: The true story of the 2010 Flash Crash
Global regulatory review: FactSet regulatory update: May 2019
News and notes (U.S.)
The Eurekahedge Hedge Fund Index rose 1.13% in April: Hedge funds positive again in April after robust first quarter
A potential market downturn could mean more assets allocated to hedge funds: 4 out of 5 investors to bet bigger on hedge funds
Apollo planning to convert to a C-Corp: Apollo becomes latest PE bigwig to plan corporate conversion
The transformation of KKR: Gentlemen at the gate: With trillions pouring in, KKR and its peers must build up rather than break up
PIMCO adds Richard Thaler as a senior advisor: Pimco brings on Nobel-winning economist Thaler for advisory role
How Vanguard is deferring capital gains taxes on its mutual funds: Vanguard investors get control of paying taxes
Actively managed ETFs have been gaining traction in the market: Active ETFs gaining ground
News and notes (Canada)
TD launches more ETFs: TD launches three new equity ETFs
Canadian pension plans investing in AI venture capital fund: CPPIB, PSP part of group investing in new AI fund
AdvisorSavvy launches advisor rating platform: Advisor rating site to offer marketing platform
Scotiabank to launch Global Wealth Management division: Scotiabank launching global wealth management business in November
Fixed income ETFs accounted for a greater share of total ETF sales in the first quarter:Canada’s fixed income ETFs fared well in first quarter
On the pulse – New frontiers in fintech
How banks and fintech firms can work together to create better solutions for customers:Banks and fintech: the next step
Digital transformation must come from the top of the organization: Digital is a leadership challenge and not a project
Banks must meet customers’ expectations of personalization: Trendwatch: Independent banking brands? Or integrated service bundles?
The KYC process needs to be improved: SWIFT’s Claeys: Decades-old KYC processes need change
The impact of insurtech on the insurance industry: The fintech revolution in insurance
Helping people spend, save and invest: New digital financial advice service – OpenMoney
New financial tool to help retail investors compare and analyze stocks: QARA launches “What Is Fund” (WIF) as beta-service
Algorithmic trading market expected to grow by 11.1% annualized over the next five years:Algo trading market to surpass $18.8 billion in five years
How to effectively reach millennials through social media: Shifts in millennial social media habits financial marketers can tap
Fintech firm, SoFi, launches ETFs: SoFi launches gig-focused ETF
Fidelity to offer bitcoin trading to its institutional clients: Fidelity said to offer bitcoin trading within weeks
High-net-worth topics
High-net-worth investors are optimistic about the global economy: Wealthy investors bullish on global economy, stocks, UBS finds
Examining your portfolio can have a meaningful impact on your life: Living purposefully: The surprising benefits of examining your portfolio
High-net-worth individuals will invest in cryptocurrencies: New global poll reveals high-net-worth individuals are flocking to crypto
Polls & surveys – What financials are saying
CPAs less optimistic about the Canadian economy (CPA Canada): Economic optimism declines among Canadian accountants: survey
Advisor conversations about ESG investing are on the rise (Nuveen): More advisors bringing up ESG investing with clients
Financial wellness programs helping employees’ financial planning (Financial Finesse):Long-term use of financial wellness programs drives retirement success: study
21% of young baby boomers in Canada don’t have any retirement savings (Franklin Templeton): Many young baby boomers have no retirement savings
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
Monday morning briefing – January 7, 2019
Hedge funds looking to expand their offering to attract investors. Is private equity about to be revolutionized? The top digital trends of 2019. How to help high-net-worth families invest with a conscience. And much more in this week’s briefing.
Economic/industry news
International Economic Data Snapshot – includes aggregated data of the worldwide economy: Snapshot: International economic data
The U.S. unemployment rate rises to 3.9% in December: Job growth surges by 312,000 in December
Canada’s unemployment rate steady at 5.6% in December: ‘Less than meets the eye’: Canada adds 9,300 jobs amid weak wages
The U.S. Federal Reserve Board will listen to the markets and act accordingly: The Fed has an important history lesson for panicked markets
A look at alternative investments: What exactly are alternative investments?
ESG ETF assets growing: Assets in ESG ETFs up 34% in ‘18
Market volatility could help active managers: Active fund managers say their time has come
Wealthsimple launches Wealthsimple Advisor Services Inc.: Wealthsimple introduces mutual fund dealer
ETFs attracted $20.1 billion in new assets in 2018: ETFs outsell mutual funds in 2018
Could ETFs be its own asset class?: ‘ETFs as asset class’ is among the top 2019 trends in markets
On the pulse – New frontiers in fintech
Here are the top technology trends for wealth management, according to Capgemini: Tech trends in wealth management to watch in 2019
It should be another strong year for fintech startups: 2019 looks to continue another lights-out year for fintech startups
UBS to make Evidence Lab available to clients: UBS’s big data lab is no longer just for its analysts
Why automation is key for fintech: Automation will be the end of banks as we know them
Some resolutions banks should be considering: 5 resolutions for digital banking success in 2019
The insurance industry is ready to be changed by digital technologies: Digital insurance in 2018: Driving real impact with digital and analytics
It is shaping up to be a big year for insurtech: Busy year ahead expected for insurtech
Here are the top digital trends for 2019: Digital transformation trends to watch in 2019 and beyond
A look back at the first year of MiFID II: MiFID II – One year on
New York State forms task force to understand, use and regulate cryptocurrencies and blockchain: New York to form cryptocurrency task force
News and notes (U.S.)
North American hedge funds down in November: North American hedge funds suffered further losses in November, says Eurekahedge
Get to know Bridgewater’s Head of Investment Research, Karen Karniol-Tambour: Bridgewater’s new brain: A millennial woman is blazing to the top of the world’s largest hedge fund
Hedge funds looking to expand offerings to attract investors: Hedge funds turn to private capital playbook in search of assets
PE and VC should keep an eye on oiltech and commoditech: Next big thing: Oiltech
Out to change private equity: This San Francisco investor wants to revolutionize private equity. Is he crazy?
Investing in managed futures through an ETF: Eyeing alternatives with a managed futures ETF
U.S. mutual funds experience largest weekly redemptions since February: US fund investors pull most cash from stocks since February, says report
U.S. defined benefit pension plans had a slightly lower deficit at the end of 2018: Funded status of US corporate pensions slipped in 2018: survey
High-net-worth topics
Helping high-net-worth families invest with a conscience: Advisor works with families to make an impact
Navigating clients through 2019: What wealth advisors are telling their clients in preparation for 2019
Polls & surveys – What financials are saying
Investors should buy into this market decline (Citigroup): Citi says ‘buy this dip’ and sees equities returning 14% in 2019
Predictions for 2019 (Nuveen): Bob Doll’s 10 predictions for 2019
Energy prices could be volatile in 2019 (Moody’s): Energy outlook for 2019
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
When you get good press, keep the momentum going
If you’re in financial services media relations or corporate communications, you know it’s challenging to earn positive press. Compared to the U.S., we don’t have many trade outlets to pitch.
So, when you do score some good press, pat yourself on the back – and then get back to work because your job is only partly done.
Be it a magazine or newspaper feature, TV interview, web profile or something else, you want to leverage the positive press as much as possible. The focus could be on a product, portfolio manager, senior executive or your company in general – it’s all good. You have an opportunity to help your Sales team start a productive conversation (with a prospect or existing client), retain assets or close a deal.
You have an opportunity to help your Sales team start a productive conversation (with a prospect or existing client), retain assets or close a deal.
3 ways to leverage good press
1. Article reprints
This is the most traditional way to push your story out to a broader audience. With article in tow, your Sales team can distribute the positive piece to clients who may be interested in a particular product, portfolio manager, asset class or sector. Every publication is different but, in general, you’ll need to contact the outlet to purchase article reprint rights. You can usually buy digital rights at the same time, allowing you to share the article electronically and post it on your internal/external websites.
Two caveats to consider. First, be selective because buying reprint rights can be costly. Make sure your Sales team and other colleagues can really use this article to their advantage. Second, the rights are typically time-bound (e.g., for six months or a year), so have a plan in place to make prompt use of the article.
2. Linking
A cheaper way is to link to the article (or video/audio clip) in email messages, e-newsletters or from a website teaser that you create. Just be mindful that the piece will be housed on the media outlet’s website, so you’ll be relying on them to keep the content posted for a certain period of time. Also, since some sites impose paywalls that may impede access to content for some of your target audience, linking is not always an effective route to take, despite the cost efficiency.
3. Social media
Tweet out article content and key quotes (if any) in a steady, methodical drip, while linking to the article, video or audio clip. If you have a corporate LinkedIn account, you can post the content there (or even do it from your personal account if you wish). You could also share it on other social media platforms to maximize exposure and keep the positive buzz circulating through cyberspace.
For more insights on how your company can benefit from leveraging good press, please contact us at 416.925.1700 or info@ext-marketing.com.
How to generate coverage from the financial media
If you work in financial services marketing, corporate communications or public relations, chances are that you crave positive exposure from the financial media.
Being proactive will help you create and execute on an integrated marketing strategy that includes targeted media coverage. Here are some basic tips to get you started.
1. Know your market
Let’s say you want to promote a mutual fund company’s products or portfolio managers. The first thing you should do is determine your main point of differentiation. Do you have a fund that’s outperforming in a big way? A new product (especially if it’s novel in some regard or in a sector that’s getting a lot of buzz)? Does a portfolio manager take a unique approach to achieving strong returns?
Look for an angle that captures a reporter’s attention – something that stands out from the crowd and would interest the reporter’s audience.
Look for an angle that captures a reporter’s attention – something that stands out from the crowd.
2. Know the media landscape
The financial media is relatively small in Canada, which can be good or bad.
It’s good because you can know the key players in short order. Check out media outlets like Investment Executive, Advisor Group, Morningstar, National Post and The Globe and Mail. That’s a great starting point to become familiar with the writers, the topics they cover, the tone they take, etc.
A small media market is bad because you have the whole industry vying for limited positive exposure. The competition for coverage can be fierce – all the more reason to have a great story to tell.
The competition for coverage can be fierce – all the more reason to have a great story to tell.
3. Know your objectives
As you work on a plan for media coverage, consider what you want to achieve. By knowing your end goal, you can work backwards as you develop your strategy.
For example, if you want article reprints available to your sales force as prospecting or retention tools, then focus on gaining media coverage for key portfolio managers or funds on a recommended list. Good press is hard to come by, so make the most of it when you get the chance.
For more ideas about interacting with the financial media, please contact us at 416.925.1700 or info@ext-marketing.com.
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Deep product knowledge matters
When it comes to financial services marketing, deep product knowledge matters. Why? Because the industry is undergoing constant regulatory and product change, and knowing how it all fits together is essential to continued success.
We believe that continuing education is important for your long-term growth. This post illustrates, however, why deep product knowledge is essential for you and your company right now.
The changes
We’ve identified three key areas where industry changes are taking place:
1. More regulation
Nowadays – with CRM-2, point of sale and debates about fiduciary duty happening all at once – it seems that a significant regulatory development occurs almost every week. Staying on top of these changes is important in order to keep your business – from your sales and marketing teams to your advisors and clients – moving forward without any unwanted surprises.
2. Greater complexity
Investment solutions – and services for that matter – are getting more complicated, and having insights into the competitive landscape is more than just helpful, it’s mandatory.
3. Audience diversity
“One size fits all” does not work anymore. Whether they are retail investors, institutional investors, advisors or executives, people want solutions to help them meet their unique needs.
The industry is undergoing constant regulatory and product change, and knowing how it all fits together is essential to continued success.
The need for knowledge
Last year we wrote about SAVE marketing. SAVE stands for “solutions, access, value and education.” We think that, in many ways, it’s a more effective way for financial services marketers to think than the traditional 4P (product, price, promotion and place) approach.
So how does deep product knowledge inform the SAVE marketing approach? These four questions make it pretty clear:
1. How can you frame a solution if you don’t know the audience?
2. How can you ensure effective access without a thorough understanding of operations?
3. How can you offer true value if you don’t know the competitive landscape?
4. How can you educate clients without a deep knowledge of your solutions?
What does this amount to? Before planning a product launch, drafting a creative brief for a web series or starting any other important project, make sure that the people at your table know the industry – where it’s been, where it is today and where it’s going.