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Tool Time

By Eric Daugherty

Advisors take basic Web content and usability for granted, so firms need to find new differentiators.

2010 marks the release kasina's 12th annual Top 10 Web Sites for Financial Intermediaries report. While we saw a similar cast of characters in this year's Top 10, the features that set the best apart from their peers continue to change.

The table stakes for having a Web site supporting intermediaries continues to rise. Everyone has baseline functionality covered: prices, performance, transactions, fundamental education, etc. What is now setting firms apart is the following:

1. News, commentary and thought leadership: 62% of high producers seek news and commentary on firm sites. Firms are putting a "face to the franchise" and putting leaders - and their thoughts- out front more.

2. Timely educational tools & materials: 48% of advisors go to advisor sites for tools. The best asset manager sites are giving more sophisticated tools that advisors can use to help themselves and their clients.

3. "Shareability": 68% of advisors share online content with their clients. Top firms are liberating content and allowing advisors to share via e-mail, social media, and other means.

Specific firms of note this year include:

• BlackRock retaining the top spot, with interactive tools dedicated to timely market opportunities - for example, an outstanding Roth IRA Conversion Optimizer (see graphic below); and resources that hone advisor expertise and help advisors educate investors.
• John Hancock continuing its run in the Top 10, with timely resources that address current market opportunities - like the Job Changers Resource Center, which gives advisors resources they can use to assist those out of work or changing careers; and ideas on how advisors can connect with clients on current topics.
• Fidelity jumping to #3 based largely on personalized user interactions, which builds loyalty based on learning about advisors' online actions, preferences, and needs.

As is evident from some of the top firms, differentiation is less about having better basic functionality and more about having intelligent things to say, and giving advisors the tools they need to serve clients better. At kasina, we're looking forward to discussing the insight gleaned from this year's report with all of our subscribers. To discuss these findings, or other aspects of the report, E-mail us with questions or thoughts.