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Friday, October 14, 2016|
When FAs Evaluate Providers, These Two Factors Stand Out
When financial advisors evaluate mutual fund shops and other product providers, performance isn't the only factor on top of their minds.
On the flip side, fewer than 20 percent of FAs said that having a "broad product mix" factors in when they evaluate product providers. And fewer than half of FAs said that "client-ready or informational materials" or "key executives/thought leaders" factor in to their evaluations.
The JConnelly folks also asked the FAs about: how they want to hear from fundsters and other non-clients (more than 80 percent of FAs said they prefer email); what information sources they turn to when evaluating providers ("word of mouth" and information from analysts came out on top with nearly 70 percent each); and using social media (more than 60 percent said they do use it for professional purposes).
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