To provide our clients with high quality tailored consulting and research, we need to know the financial services industry and our clients. To build lasting and profitable relationships, we dedicate ourselves to staying not just current on, but ahead of industry trends. This blog is intended to share our industry insights and, at the same time, to capture feedback from our readers.
Consultative selling is a catchphrase that we’re hearing more and more frequently these days. But what exactly is it?
In a nutshell, consultative selling is an approach where the salesperson focuses on understanding the advisor’s business and portfolio objectives in order to help the advisor identify the right solutions, rather than focusing on pushing products that their firm is trying to promote. This concept has been around for some years in the asset management industry, but in practice, many firms have continued to adopt a primarily product-driven approach while paying lip service to the idea of the consultative sale.
Change, however, is in the air. Advisors’ business models are shifting, with the focus moving away from transactional business and towards goals-based wealth management, where advisors work with their clients to identify and plan for both short- and long-term objectives. This approach is vehicle-agnostic, with advisors... [read more]
Accelerated by increased regulatory oversight, such as the new DOL Fiduciary Rule, the growth of digital advice providers and demand for lower-cost products, the industry is going through massive changes on both the institutional and retail side. And clients, for their part, are increasingly expecting more relevant and seamless experiences – ones that require data-driven marketing fueled by advanced analytics across all digital and non-digital channels. Meanwhile, the C-suite increasingly expects digital marketing teams to demonstrate return on investment! We covered the crucial implications of all these and more during the round table.
The whole event was kicked off with the customary networking reception and dinner, but with a surprise: guests from The Washington Post (Venkatesh Varalu, Head of Advanced Analytics) and New York Times (Monica Drake, Travel Editor and Greg Winter, Deputy Foreign Editor). We learned from them how two premier news organizations decide which content to publish and promote in... [read more]
Asset managers are increasingly grappling with the question of how to adapt their salesforce to sell ETFs. A larger piece of the intermediary market is incorporating ETFs into their clients’ portfolios, with 60% of advisors now using these products. On average, advisors allocate 16% of portfolio assets to ETFs, up 3% from just a year ago. In order to meet this growing demand, many asset managers are building or buying their own ETF franchises. However, the ETF business — whether passive, enhanced, or active in implementation — is a scale game, and mutual fund managers have not yet been able to wrestle significant market share from incumbent ETF sponsors.A Single Point of Contact
Traditional mutual fund companies are certainly experts in the arena of intermediary sales. But now — due to acquisition, team lift-out or organic growth — many find themselves in new terrain, saddled with... [read more]
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