Management Consulting

The American Customer Satisfaction Index (ACSI), which measures the satisfaction of consumers with the quality of products and services offered by companies across a variety of industries, released a report that suggests digital transformation is helping financial services companies increase customer satisfaction. The ACSI report, which is based on 17,861 customer surveys collected between October […]

In the mid-1980’s, a nascent technology was leveraged to invent the World Wide Web. Few could have foreseen the ubiquity of the internet in 2017. Likewise, blockchain is a relatively new technology, and its full potential may not be realized for some years. In the interim, and as further research continues, a number of applications […]

In the interest of reducing cost and liability, financial services companies have started withdrawing from the advice market and are requiring non-high net worth individuals to bear responsibility for their own financial decisions. This trend is similar to a trend in healthcare called “patient empowerment,” where doctors no longer make a recommendation for a course […]

In simplest terms, blockchain is a technology that enables value to be transferred using only software; that is, without the need for trusted intermediaries. It is a record-keeping system where transactions are executed, validated, and recorded publicly. Let’s break down blockchain: 1. Blockchain is the technology behind bitcoin, the electronic currency. It is not the […]

Clients are more empowered than ever to make their own informed decisions, which has led to a dramatic shift in their expectations of financial services companies. Clients expect to be provided with the kind of personalized advice, support, and tools they used to only get from their financial advisors. While offering choices is an important […]

Financial services institutions have several options when it comes to improving the decision-making process for investors. Reduce options Probably the least-attractive idea for many providers is the notion of limiting the number of options available to clients. Though there are many examples in the manufacturing industry where decreasing the total number of different products in […]

In his book Paradox of Choice, Dr. Barry Schwartz identifies several key reactions people have when confronted with too much choice. Escalation of expectations – Expectations can be significantly detrimental to one’s ability to be happy with a situation. If you are given only two options, your expectations are going to be fairly low. Regardless […]

If you’re reading this, it’s probably because you keep hearing that blockchain is the next transformative technology. And while you want to make sure you’re fully informed and in a position to exploit any opportunities this technology could bring to you and your organization, you still don’t fully understand what blockchain means. Moreover, based on […]

Had a chance to chat at length with Chris Bernard, director of well-known Chicago digital design agency Truth Labs (now known as Perficient Digital), on the current state of UX/UI and its ability to improve to private equity outcomes. Chris has been directing the Truth team for about a year, tasked with running and growing […]

When 401(k) plans were introduced in the early 1980s, most had only one-to-three funds available. Typically, participants would find a low-income/low-risk fund (often called a “guaranteed” investment vehicle) and an employer stock fund. As the plans became more popular, the U.S. Department of Labor (DOL) determined that plan sponsors had to offer more options that […]

In an attempt to lure younger customers, JPMorgan released a new mobile app called Finn by Chase. The app will allow users to open an account, deposit checks, track spending, and perform other activities that many companies already offer. JPMorgan is testing out an iOS version of the app in St. Louis, a city where […]

If you prefer listening to reading, “Base Theory” is available on iTunes or Google Play or below on the SoundCloud player. Base Theory At a time when private equity is paying record high prices to acquire companies, the prospect of hitting your return targets is becoming more difficult. The traditional playbook for how you go about […]