Wealth Management KPI
KPI Name: Wealth Management Balanced Scorecard Metrics
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Sample reports:
Some reports were generated with Balanced Scorecard Designer for the Wealth Management Balanced Scorecard Metrics KPI to show both – Balanced Scorecard Designer functionality and a part of KPI content:
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Description by authors:
Firms providing wealth management solutions are required to simultaneously take care of a number of internal (operations and recognition) and external (financial and economic disturbances) aspects. This elevates the need for making the ‘corporate level strategy’ easy to understand such that every stakeholder in the organization can relate to it. One of the ways is to frame it in perspectives, four or five in number. This quantification can be achieved by employing BSC.
Financial perspective can be used to obtain an insight into the financial standing of the operations. This can be achieved by quantifying the parameters like- new net money, return on assets, profit growth rate and cost income ratio.
Business development and growth perspective can be had with metrics like % new customers acquired, attrition rate of customers, conversion rate and % growth of assets under management.
Operations and recognition perspective can be obtained with KPIs such as deposits: AUM (Assets under management), Loans: AUM ratio, number of services offered and number of service awards won.
Lastly, employee perspective can be gathered with metrics like employee turnover, % increase in number of relationships per client facing employee, % increase in net new money per client advisor and % increase in revenues per advisor.
KPI in Excel – Screenshot:
