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 |
|
Wednesday, December 6, 2000 Are Funds' Advisor Web Efforts Failing? Fund companies are rushing to start up or update advisor web sites, but to what effect? "I would say our results are mediocre at best," Grant Baxter, vice president of MFS's advisor group, said of his company's site. "Most people, when it comes to real money, want someone real on the other end of it." Advisor sites are intended to provide information as well as added-value tools, filling advisors' need for a higher level of service. Furthermore, putting these utilities on the web allows advisors access to suit their own schedules. Nonetheless, sites are effective only if clients use them -- and apparently, that's not happening. According to Steve Miyao, senior vice president of e-consulting firm Kasina, advisors don't use advisor sites because they are difficult to use and don't help sell. "It's not getting really the use we had hoped," said Jeanne Howell, vice president of Merrill Lynch's US private client channel marketing. Merrill Lynch's site provides a full library of uploaded fund-related print materials as well its Interactive Marketing Center (IMC). The IMC identifies portfolios which are mis-weighted according to the company's prevailing strategy. Howell felt that wholesalers are the best venue to point advisors to the site. In the meantime, she is working on enhancing TGA, Merrill Lynch's internal media service, broadcasting CNBC and two proprietary channels. Howell is presently working to replace CNBC's ads with its own in an effort to encourage advisors to watch its NewsCentral programs. Printed from: MFWire.com/story.asp?s=26007 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |