MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, July 16, 2012 Fund Shops Nix Sleepy Summers to Woo Advisors Mutual fund firms are keeping financial advisors busy this summer. The trend is picked up on by Reuters reporters David K. Randall and Jessica Toonkel, who report that mutual fund shops are seeking ways to hold more investor meetings, and come up with additional strategy notes to maintain open communication lines with clients. How full has the schedule for some advisors become? Mal Makin, president of Professional Planning Group, provides the article's money quote: I think a memo must have gone out for everyone to hit the road and start trying to get investors involved again. I have a little callus on the finger next to the delete button from deleting all of them."The summer is not what it used to be," adds Seth J. Masters, Bernstein Global Wealth Management CIO. Masters was found by the reporters at a media luncheon, sponsored by AllianceBernstein at which its executives discussed a paper on why equities still make sense. Recently, BlackRock has put together a summit for advisers which is scheduled next week. The trend reaches beyond those firms. Michael Abelson, Genworth Financial Wealth Management senior vice president, said: "We don't typically introduce new ideas or showcase new solutions as dramatically as we are this summer." Meanwhile, ING executives have said no to vacations running two- to three-weeks without interruptions, and the firm has been holding more webcasts and and other ways to communicate with advisors. Toby Hoden, chief marketing officer at ING Investment Management, said when it comes to long uninterrupted vacations: "We don't do that anymore. Advisers don't do that anymore." We hope you did not rent that beach house for the summer. Printed from: MFWire.com/story.asp?s=40616 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |