Forward-looking mutual fund wholesalers will soon be able to tout a web-based communication product that could replace old school methods of communication between fund firms, advisors and clients.

Real Simple Syndication (RSS) -- a service that allows continuous updates to web content and news alerts via podcasts, email, and other web media -- is the newest development in a tech wave that lets asset management firms equip clients with specialized Web site capabilities.

And Fugent, a provider of online products to the financial services industry, is poised to exploit the possibilities of RSS. The Columbus, Ohio-based firm will launch a first-of-its-kind RSS product in September, letting fund companies hand off syndicated performance updates and other key information to advisors, who can then personalize and re-syndicate the content before passing it on to clients.

Sean Carroll of consulting firm Kasina -- which counts Fidelity and Oppenhimer Funds among its clients -- said this type of RSS technology is unheard of in the wholesale industry.

"RSS is not something wholesalers are aware of," Carroll, a consultant, told the MFWire. "Most advisors don't want to go to each fund's Web site to get price/preformance information, so an RSS feed would make that a lot simpler."

Carroll warns that a major impediment to the RSS streamline could be the advisors themselves. Usually behind the tech learning-curve, it is likely many are unaware of how to enable RSS feeds on their computers.

Fugent is betting they'll be eager to learn.

"This product will provide a scenario for wholesalers to meet with advisors in person and educate them," Fugent president Dan Easley said. "Wholesalers will get a tremendous amount of credit for teaching advisors, and for all the real and time savings this technology will provide."  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE