Advisors Remember These Fund Firms' Wholesalers
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Monday, November 24, 2014

Advisors Remember These Fund Firms' Wholesalers

Advisors remember American Funds [profile] and Franklin Templeton wholesaler visits the most.

That's one finding gleaned from the new Wholesaler Impact on Future Investment report, just issued by MarketStrategies' Cogent Reports team. The Cogent team surveyed 850 advisors from May through July; advisors surveyed came from wirehouses, regional broker-dealers, independent B-Ds, banks and RIAs.

The Cogent team found that external wholesalers for American Funds, Franklin, and BlackRock [profile] have "the strongest recall of a recent wholesaler visit." On the internal wholesaling side, the top three are American Funds, Franklin and Fidelity [profile].

Advisors reported meeting with externals from 3.6 mutual fund shops per month, on average. They said they received calls from internals from 2.5 fund firms.

On the ETF side of the business, First Trust [profile] and iShares [profile] came out on top in terms of wholesaler recall, on both the internal and external sides. Advisors said they only received one call, and took one meeting, per month from ETF shops.

Meredith Lloyd Rice, senior director of Cogent Reports, told MFWire that "most wholesalers are meeting expectations" in basic areas like product knowledge and demonstrating integrity. The opportunities for improvement, Rice argues, are in offering advisors business ideas, being committed to helping advisors grow their businesses, and resolving problems and providing support in a timely fashion.

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