The “Mobile” Adviser Needs Mobile Strategies

A recent study from kasina found that 60% of asset managers have a mobile strategy in place and recommended more firms develop one as soon as possible.   

kasina’s previously published “FA Vision” survey of adviser behavior found that 54% of financial advisers use mobile devices to access work-related content other than e-mail, such as data or news; another 23% plan to use mobile devices in the coming year. “FA Vision” also found that 71% of advisers consider mobile capabilities of a product before deciding to use it.  Like all users of smartphones or tablets, advisers expect to read commentary, access accounts and perform transactions using their mobile devices, the report noted. Therefore, they will gravitate towards providers who enable them to do everything their job entails even when not at their desks.

In “Mobile Strategies for Asset Managers,” kasina surveyed and interviewed executives from asset management and insurance firms and found that:

  • 60% of firms say they have a mobile strategy
  • 12% of firms do not have a mobile strategy and do not plan to have on
  • 46% of firms have management commitment and budget for a mobile strategy for wholesalers
  • 21% of firms with a mobile strategy have no annual budget commitment
  • Sales participates in mobile strategy development at only 38% of firms
  • 13% of firms are developing a mobile app for iPads
  • 67% of firms do not promote the mobile access options they provide to advisers


The report says there are three approaches to creating a mobile strategy.  The firm’s “regular” Web site can be designed to function normally on a mobile device, a separate site or sub-domain with unique content and functionality can be used, or a mobile “app” (application) can be created, which can be downloaded onto a device (this is not the same thing as a Web site).  Kasina pointed out that these approaches are not mutually exclusive.

kasina recommends asset managers take six steps in developing a mobile strategy:

1. Build internal advocacy to gain support from executives

2. Integrate policy and process adjustments

3. Clarify goals

4. Determine internal development capabilities versus outsourcing needs

5. Stage mobile implementation

6. Promote and train

kasina’s report concluded that crafting a well-defined, detailed mobile strategy is critical for asset managers to meet productivity goals, increase revenue opportunities, and enhance their brand.