Though asset managers have largely survived the subprime crisis, the Boston Consulting Group (BCG) report, "Winning Strategies in Uncertain Times: Global Asset Management 2008, goes on to say that they must take strong steps to regain the trust of their clients and forge new strategies to help them emerge as stronger players.
According to BCG, some approaches that will help firms rebound include improved distribution practices and enhanced risk management, as well as increased efforts to contain costs. The report's authors also believe that asset managers must explore new growth opportunities, especially in Asia-Pacific and Brazil.
During times of market turbulence, the best asset management firms outsource to win, not to shrink. They outsource to innovate faster and more affordably in order to become larger, gain market share, and retain control over their operations – not to save money by firing more people.
At SS&C, outsourcing is our primary business. With more than 1,000 outsourcing clients worldwide, we have a proven history of servicing some of the world's leading asset management firms.
Here are some quick facts about SS&C's outsourcing services, SS&C Direct:
- We own all of the underlying technology behind the services and retain complete control of the entire technology environment, timing of new releases, and the integration of our solutions. We do not rely on any third party software that can cause a disruption in our ability to provide outsourced services to our clients.
- We provide a functionally superior solution set as consistently rated by industry research and consulting firms.
- Asset Managers typically need to deal with multiple custody relationships. SS&C maintains the custody relationships and connectivity with more than 125 custody banks to ensure your reconciliation and processing needs are being met. In essence our business model actually supports your client's interests by not requiring them to switch to any one custodian.
- We apply a holistic team approach to running your business. Unlike large institutionalized processing centers built with a "departmentalized" approach, SS&C offers a fresh holistic methodology to our outsourcing services.
- We provide customized solutions to meet the unique needs of our clients and build a team around your operation to provide an integrated solution with integrated service. You will have a dedicated team of individuals that support your account. This personalized approach also provides support capabilities related to your time zone or other unique needs. Our personalized solutions leverage our ability to provide our clients with the best solutions possible.
- We maintain a series of inter-connected processing and service centers located worldwide that are SAS Type II certified. SS&C supports a global network of inter-connected processing and service centers to provide our clients around the clock support.