Neil Menard, group president CNL Capital Markets and president of CNL Securities, said that there is still much industry uncertainty about managing change.
The reductions will save current investors about $20 million annually, the firm says.
How technology, the popularity of defined contribution plans and increased competition from ETFs have transformed the way fund companies sell their products to investors and advisers.
LPL Chief Information Officer Victor Fetter discusses the firm's digital strategy and provides insight for every asset management firm.
"We're built to take advantage of economies of scale in this business," says Vanguard Chief Executive Officer Bill McNabb.
While IT budgets at buy-side firms have not fully recovered from the cutbacks of the Great Recession, front-office demands keep growing in quantity, complexity and required speed of response.
Rob Goldman founded Goldman Small Cap Research (GSCR)--not affiliated with Goldman Sachs--in 2009. He has over 20 years of investment and research experience as a senior research analyst and as a portfolio and mutual fund manager.
For the last several years the investment management industry has seen a seismic shift towards outsourcing middle and back-office activities.
During the crisis of 2008, service providers faced an environment in which they saw their clients' assets decline sharply.
Executives at mutual fund companies, asset management companies and support providers rated client reporting--which included any reporting that is created for the purpose of distribution to clients--as their top challenge followed closely by risk management in Money Management Executive's third annual Operations Survey.