Data Can be Your Most Important Sales Tool

Distribution is becoming more restrictive and certainly more costly. Broker/dealer platforms are reducing the number of mutual fund offerings and the supermarkets have raised the requirements for inclusion on their platforms. Fees within the broker/dealer channel are increasing as Sub-T/A and networking fees are on the rise. When the costs to support a sales team are added to the equation, distribution expenses need to be carefully examined.

How can greater distribution efficiency be attained?

Unfortunately, too many asset managers substitute “people costs” for “data costs.” As today’s Advisor community becomes more fragmented, asset managers need to use the power of data to guide their distribution efforts. Information is readily available that profiles the Advisor universe. Sales tracking is an absolute essential to understanding your Advisor ownership base. An integrated CRM is a must and should be viewed as one of the fund company’s most important assets. Data from the front end and the back end of the sales pipeline is critical to directing the necessary sales resources to interact with the Advisor audience.

If your distribution strategy is overly dependent on the “people” activities, think again. Data should be viewed as the key tool that drives sales, facilitates asset retention and can help your company achieve a new level of asset-gathering success.

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