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Rating:How a No-Load Giant Is Making a Push With Advisors Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 25, 2017

How a No-Load Giant Is Making a Push With Advisors

News summary by MFWire's editors

One of the original and biggest no-load mutual fund stalwarts is making a big push with financial advisors.

T. Rowe Price "is more aggressively targeting financial advisers with a beefed-up wholesale crew and placement on custodial platforms," InvestmentNews reports. For example, after years of pushing back against NTF platform fees and then "a multiyear negotiation with both firms," T. Rowe financial institutions group chief John Halaby tells the publication, T. Rowe's mutual funds became available on the Fidelity and Schwab NTF platforms last month.

Don't expect the T. Rowe team to debut lots of new share classes or to make a push into passive investing, but they are expanding their staff aimed at RIAs and other FAs. And the strategy shift correlates an asset shift, too: William Blair analyst Christopher Shutler notes that about 80 percent of T. Rowe's fund sales are now sold indirectly through intermediaries or retirement plans.

This deep-dive story offers glimpses of T. Rowe's history and comments from a host of T. Rowe insiders and T. Rowe watchers. 

Edited by: Neil Anderson, Managing Editor

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