3 ways to impress your clients at a review


Pension schemes can feel frustrated by asset managers when it comes to conducting performance reviews. So what can you, as an asset manager, do to help them?

In our last blog post, we saw the three behaviours that asset managers should avoid at all costs during a performance review.

But what can you do in a more positive sense to help your pension scheme clients?

Our poll of 25 pension schemes gave three key answers:

1. Be proactive in informing the scheme of issues

As one respondent put it “Just be honest. I don’t need to think you’re perfect. I just need to know that you learn.” If your firm is transparent and upfront with its clients, not only can your counter potential problems before they escalate, but your clients will be far more likely to trust you and stick with you.

2. Be bespoke and concise when reporting and presenting

Where client service is concerned, “one size fits all” really means “one size fits none”. So, be bespoke. If your client is judging you on a particular set of criteria, make sure that your reporting addresses these and these alone. For one thing, it will help keep the literature shorter – something our poll found that they’d also appreciate!

The words of one respondent summarise the situation neatly: “provide the information we ask for, not what you want to present.”

3. Bring your top managers along to presentations

This applies not only at review, but also at tender. Pension schemes are very clear on the fact that they want to meet the people who do the work: i.e. the managers themselves, not just the sales team.

There are good reasons for this. Schemes want to grill their asset managers on their past performance, as well as their future strategy. The top managers are the people best placed to respond to these questions honestly and clearly. And, as we’ve seen in the previous blog post, honesty and clarity are key.

So, in summary, be proactive in addressing performance issues, tailor your reporting to the client in question, and allow pension schemes the chance to grill your top managers.

Asset managers who follow these simple steps will make life much easier for their pension scheme clients, which in turn increases the likelihood of a successful review and a continuing mandate.