Harnessing Big Data To Gain Financial Advisor Insights

/

A few months ago, “big data” was named “the Most Confusing Tech Buzzword of the Decade” (so far) by The Global Language Monitor. It’s deemed even more confusing than “the cloud,” which came in second.

So, what is big data? I like this generic explanation, which I'm paraphrasing from a few comments I've seen on Quora. According to Vikalp Jain, founder of mozvo.com, four Vs characterize big data:

  • Volume—so large that its size becomes a problem
  • Velocity—how quickly data is coming or changing
  • Value—data should have intrinsic value to justify the processing
  • Variety—which refers to the breadth of sources and the lack of common (or any) structure
Read More

Surely We Can Do Better Than E-Delivery

/
Digital is always better. That’s been my worldview for years now and digital never disappoints. Well, almost never. One use case that really hasn’t proven itself yet is the electronic delivery of documents or e-delivery.

By all rights, e-delivery should be a win-win. The cost-efficiency benefit to the investment company is clear, and investment company marketers have long tried to persuade shareholders of the benefits to them. E-delivery (whose very name suggests how long this movement has been underway) offers certain, fast and secure delivery, it’s convenient and it's good for the environment. But no matter the size of the sweepstakes we run to coax shareholders into turning off the paper, they aren’t budging.
Read More

Really? LinkedIn Groups Are Asset Managers’ Most Important Social Media Offering?

/

American Century Investments yesterday released an update to last year’s widely quoted survey on advisor adoption and use of social media.

Overall, the 2012 survey reflects progress that’s along the lines of what we all have been seeing:

  • Nine out of 10 advisors now have a social media profile or account—73% Facebook (vs. 71% in 2011), 62% LinkedIn (vs. 55% in 2011) and 27% Twitter (vs. 19% in 2011).
  • More advisors are active—56% (vs. 51% in 2011) say they’re either moderate or extensive social media users.
  • Access via a mobile device, which is the headline of the American Century announcement, has more than doubled.
  • And, something that will please Google, 19% of advisors created Google+ accounts in the nine months that social network has been live.

But there is one finding that’s quite surprising.

Read More

Why You Can't Just Jump Into The Conversation

/
“People are talking online about you and the business you’re in. You want to take part in that conversation, you want to be in the mix.”

When mutual fund and exchange-traded fund (ETF) firms are early in their exploration of communicating off their own domains, that kind of exhortation by me or somebody like me is usually met with a blank stare. That’s the best case. The worst case is when they pretend they’re listening but they’re really just planning their broadcast schedule for the social sites.
Read More