From pension funds to private banks: Rethinking investor experience

Private markets are evolving. Institutional investors follow tradition, while wealth clients expect speed, transparency, and personalised service — forcing managers to rethink how they engage and deliver value.

The private markets landscape is undergoing a significant shift, with assets under management (AUM) projected to grow at an annualised rate of 11.5%, according to forecasting by Preqin (2025).

This growth is largely driven by a new wave of investors who are reshaping expectations for access, transparency and service.

While institutional investors have long been the bedrock of private market investing, the entry of high-net-worth investors (HNWIs) is creating a dual-track ecosystem.

Understanding the distinct needs of these two investor segments is crucial for any firm looking to thrive in this evolving environment.

The institutional investor: Sticking to tradition

For decades, fundraising from institutional investors, for example, pension funds and sovereign wealth funds, has been a largely manual, high-touch process.

These investors operate with large, infrequent capital commitments, often involving extensive due diligence, in-person meetings and highly customised reporting.

The relationship between fund managers and institutional investors is grounded in trust, built through a proven track record and a deep understanding of the manager’s strategy.

Technology in this channel has traditionally served the back office — secure data rooms, streamlined document management, and robust, if not always user-friendly, reporting portals.

With low transaction volumes, investor relations have naturally evolved into a bespoke, highly personal process, prioritising accuracy and security over aesthetics or user experience.

The rise of the private wealth investor

High-net-worth individuals and wealth investors, often accessing private markets through family offices or advisors, approach investing very differently from institutional players.

Accustomed to the speed, transparency, and self-service ease of public markets, they expect seamless digital experiences.

Modern investment platforms for public markets have condensed investing into a few clicks, offering real-time data, educational resources and intuitive interfaces.

The same applies to cryptocurrencies and ETFs, where frictionless access, market hype, and a sense of “being in the know” often drive participation.

This mindset is now moving into private markets. Although wealth investors remain a “low- volume, high-ticket” group compared with public market retail investors, they form a growing, more fragmented cohort.

Many are new to private assets and need guidance to navigate complexities like illiquidity and capital calls.

They expect an experience as seamless as public markets, but paired with the personalised, white-glove service they have come to expect from their financial providers.

What do private wealth investors want from their private markets experience?

• Ease of access: Wealth investors expect a seamless journey, from simple onboarding to frictionless investment flows. They want to view portfolios, track performance, and access documents without unnecessary hurdles—an experience as intuitive as checking their bank account.
• Education and transparency: Many are new to private markets and need clear, concise guidance on fund strategies, performance metrics, and market outlooks. Thought leadership, whitepapers, and webinars become essential tools for building credibility and trust.
• Human-centric tech strategy: While they value self-service capabilities, these investors also want direct access to advisors for tailored guidance. The ideal experience combines a sophisticated digital portal with the ability to schedule calls or receive rapid, personalised responses to complex questions.

This creates a need for perpetual fundraising and continuous servicing, where firms are not just raising a single fund every few years but are consistently engaging with a broader base of investors.

This means offering a continuous stream of opportunities, maintaining a constant dialogue, and providing ongoing support and communication long after the initial investment is made.

Delivering a high quality investor experience

Regardless of investor type, the core of a high quality experience is the same: building trust and brand equity. This is achieved by:

• Seamless and secure digital touchpoints: Technology has gone from being a back-office utility to a primary investor touchpoint. A well-designed platform provides a single source of truth for all investor data, from onboarding to reporting, creating a sense of clarity and control.
• Proactive and personal communication: Infrequent, static updates are no longer enough. Investors — particularly in the wealth channel — expect regular, digestible insights tailored to their portfolios, from automated email alerts to personalised performance dashboards.
• Demonstrated expertise: In the wealth channel, a strong brand relies on reputation, thought leadership, and active presence, not just returns. Managers who combine performance with educational and technological support can use tech to scale outreach and deliver a seamless investor experience, building a standout reputation in a crowded market.

The investor experience in private markets is no longer one-size-fits-all. While institutional investing remains high-ticket and high-touch, the growing wealth channel demands a new approach, combining the transparency and convenience of public-market technology with the bespoke service and expertise of private capital.

By using modern tools to deliver a seamless, educational, and personalised experience, firms can build the reputation needed to access this expanding pool of capital.

To learn how Goji's end-to-end investment platform can help you deliver a more seamless investor experience, connect with us here.