MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, June 22, 2011 Vanguard and TIAA-CREF Earn Mobile Brownie Points Mutual fund companies are just not up to snuff with their mobile strategies, according to a new report by research shop Corporate Insight. The report, which surveyed some 70 asset management firms, brokerages, banks and credit card companies, revealed that 68 percent of respondents said mobile has already had a positive impact on their business, and another 80 percent agreed that a mobile offering is very important to the firm’s customer service strategy. However, with the exception of Vanguard [see profile], asset management firms do not offer clients the ability to conduct research or make fund trades through a mobile device, the report said. In addition to a mobile-optimized website and iPhone app, Vanguard also recently introduced a strong iPad app. The reports also gave props to TIAA-CREF, which was cited as one of the few asset management firms to offer access to client accounts, funds and commentary via mobile devices. The firm also integrates a number of educational tools and calculators in its app. Fidelity was credited for offering customers the ability to conduct mutual fund trades through the firm’s brokerage-related services. In addition, both firms, as well as iShares [see profile] and Legg Mason[see profile], also provide podcasts and/or videos to help educate clients and keep them informed of market trends and analysis. “By embracing mobile, companies can reduce servicing costs, improve client satisfaction and position themselves as industry innovators,” stated Dan Wiegand, senior analyst at Corporate Insight and author of the report. “While the logistics of mobile finance pose an array of development, support and security challenges to financial services firms, there’s no denying that we have entered the mobile era. Financial service firms do not want to be left behind.” Printed from: MFWire.com/story.asp?s=37142 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |