MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, July 13, 2007 FRC: Advisors Want Wholesalers Who Understand Advisors want asset management wholesalers with solutions and understanding, not product pushers. That's just one of the findings of a new research report released by Financial Research Corporation and Horsesmouth. Advisors told the researchers of ADVISOR INSIGHT Wholesaler Effectiveness that the two most important wholesaler traits are: "Takes a solution-oriented approach to me and my clients rather than pushing product" and "Understands my business." The study also includes testimonials from advisors about specific instances in which wholesalers acted particularly effectively or ineffectively. The researchers also asked advisors to rate their satisfaction, across a broad range of factors, with different asset managers' wholesaling teams. Top-rated outside wholesaling forces, in terms of influence over advisors' decisions, included John Hancock, Hartford and Lord Abbett, while top-rated internal wholesaling teams included Russell Investment Group, Charles Schwab and Transamerica IDEX. Dimensional Fund Advisors, GE Asset Management and Russell came out on top in terms of advisor satisfaction with specific wholesaler traits. GE, BlackRock and Russell had the highest overall ratings. The full-report also includes firm-specific ratings, which FRC president Mike Evans said "will provide clients feedback on their existing sales strategy, which will help assess current strengths and weaknesses." Horsesmouth co-founder and CEO William Nicklin concurred. "This study provides the direct feedback from advisors and branch managers necessary to drive successful strategies for building profitable and durable relationships within the many different types of advisors that make up the marketplace," Nicklin stated. The research results come from a survey of more 2,500 advisors and branch managers conducted in February. Printed from: MFWire.com/story.asp?s=15046 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |