In these tough times in the market, a marketing specialists argues that fund firms can gain an advantage by doing something that may on the surface seem too simple.
"The most important thing a fund firm can do right now is to communicate with advisors and investors," Lisa Cohen
, president and CEO of Momentum Partners
, told the MFWire
All the fund firms are going to see assets under management fall, Cohen said; what will make the difference is how clearly those firms explain to their investors the occurrences in the market.
An example of a firm that has done this well, Cohen said, is Fidelity; the Boston Behemoth sent out an information package on the government bailout plan.
"Fidelity sent out a very timely, easy to understand pamphlet that condensed the bailout plan to 4 pages," Cohen said.
The most important aspect of investor and advisor communications is their timeliness, Cohen said.
"People will forgive you if they don't look pretty," she added.
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