Fund managers now have another resource for selling and distributing to that hard-to-reach sector, independent advisors.

A one-year-old wealth management platform, called Oranj, is looking for about 10 fund managers to feature to its growing community of IARs and RIAs.

The platform, operated by Mainstreet Financial, currently features three managers to about 22 advisors, which average around $100 million in client AUM.

"This platform helps fund managers become more scalable as well as reach the independent advisor community. We've done pretty extensive research into this sector. There is still a good percentage of fund managers out there who are not really entertaining any efforts towards the independent segment. They want to reach the community, they just don't know how to do it in a strategic way," David Lyon, principal at Main Street Financial, told MFWire.

The platform develops relationships with advisors by providing a variety of tools and functions that help them in their practices, such as tools for gauging clients' investment needs and goals.

In turn, fund managers featured on the platform get access to a variety of different kinds of data and analytics on these advisors, including asset allocations, the types of funds they already have as well as demographics about their clients.

"We are trying to provide fund managers with a platform that allows them to be an extension of that advisor's team," Lyon said. "We want to help them take a more strategic approach to the distribution and marketing of their funds." 

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