Deals & People January 7, 2013

LPL Adds EVP of Business Technology Services

Donie Lochan joined LPL Financial LLC as executive vice president of business technology services (BTS).

 

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Lochan will lead BTS’ risk management, audit compliance, business continuity, disaster recovery planning and information security. He will also shape and implement the company’s comprehensive roadmap for expanding its technological capabilities.

Lochan will be based in San Diego and report to Victor Fetter, who recently joined the company as chief information officer and managing director of BTS.

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Lochan has more than 21 years of experience in business technology and financial services. He previously worked for Bain & Company where, as a partner in its global financial services practice, he was the regional leader of the Asia Pacific IT Services unit, and developed growth and transformational strategies and solutions for financial institutions.

Before Bain, Lochan was a vice president and partner at Ernst & Young, where he served as the global head of its wealth management practice and helped leading companies in North America, Europe and Asia to increase their profits and reduce costs by aligning their investments in business and technology.

Lochan received his bachlor’s degree in mathematics/statistics and computing with first class honors from the University of Greenwich/Kings College, England, in 1990, where he received the IBM award for outstanding academic achievement.

Data & Research January 7, 2013

Service, Brand Are Key in Asset Manager Choice

Strong client service, a useful website and recognizable brand are the most important factors for advisers when choosing an asset manager.
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According to the research firm Cerulli Associates in Boston, the most important attribute out of 11 factors is strong client service. “The second-most important factor is a recognizable brand (34%), followed by a useful website (34%),” said Pamela DeBolt, senior analyst at Cerulli.

Advisers and asset managers are increasingly brand-aware. “In fact, brand is a firmwide focus for many companies this year,” DeBolt said. “Many experts believe that consistent messaging over a period of a few years is required to make a significant impact on brand awareness.” 

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However, resources for brand initiatives are not keeping pace with the perceived importance of this area, according to surveys by Cerulli. “Marketing’s most significant challenge is lack of financial commitment to advertising, brand initiatives and website enhancements,” DeBolt said.

Building a brand requires long-term, strategic planning, and Cerulli encourages asset managers to think creatively when developing and executing branding and advertising campaigns. Since marketers’ biggest challenge is lack of financial resources, Cerulli suggests firms utilize unconventional, less-expensive ways to promote their capabilities, such as online advertising. Cerulli’s research found nearly two-thirds of asset managers expect to increase their Internet advertising.

Marketing and branding challenges, enhancing and expanding distribution efforts, and projections for product development in 2013 are examined in the January issue of the U.S. Asset Management Edition of The Cerulli Edge.

More information is available here.

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