Monthly Archives: August 2014

Financial Technology Survey Results

Daniel Serrano

family-office-financial-technology-survey-results-thumbStaying close to our customers is a critical component for success in fulfilling our company mission. One of the tools we use to keep an open dialogue with current and prospective clients is a survey that allows us to poll a broad range of people in our target market.

Responses to these survey questions provide us with insight into customers’ changing attitudes, preferences, needs and challenges.

The Survey

Earlier this year, we conducted a survey in partnership with the Institute for Private Investors (IPI). We asked IPI members about the financial technology needs of private investors. Here are a few of the major findings from that survey, as well as our response to each:

1. User Satisfaction

Of those polled, the overall satisfaction rate with their current software solution was not high. In fact, almost two-thirds (64.3%) of family offices were only mildly satisfied with the financial technology systems they currently use.

Our Response

There is always room for improvement, but knowing that the next version of our software will provide significant upgrades in terms of both feature set and ease of use tells us we are on the right track. Continuing to enhance and simplify the user experience is the best way for us to satisfy our clients’ needs.

2. Most Important Features

The two most important software product features cited by family office executives were:

  • Better consolidated reporting across all asset classes (Requested by 78.6% of survey respondents)
  • Ability to evaluate the performance of investment managers (Requested by over 75% of survey respondents)

Our Response

These survey results are very exciting for us to see, since the ability to provide consolidated reporting has been part of our software’s core competency for decades. Plus, we long ago provided tools that allow users to measure the results of an investment manager and then compare them to the performance of other managers or to market or custom indices. This attention to the needs of family office users is a hallmark of our software and allows us to develop solutions to help our customers with the challenges they face now and in the future.

3. The Cloud

The security of Cloud Computing is a hot topic, so it was interesting to see that 16.7% of family offices said they had no plans to use Cloud Computing due to their fear of security breaches, while an equal amount said they use the Cloud now and are comfortable with its security. Another 8.3% are also using the Cloud currently, but do have reservations about its security. The biggest group however, 58.3%, has not yet formed an opinion. They are either seriously considering a switch to the Cloud, or are at least planning to evaluate the option.

Our Response

These survey results are very consistent with the experience we have seen first-hand. There is clearly interest in Cloud Computing. However, most users still need to be convinced it will be as safe as the current systems they are using.

Full Results

The above discussion is just a quick overview of the survey’s results. A complete explanation of the findings is available in a 9-page summary found on our Financial Navigator Resource Center in the Family Office Management section.

We hope this information is as helpful to you as it is to us.

Editor’s Note: We are always interested in your comments and feedback. You can write to us at: