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Friday, June 24, 2011

Advisors Prefer Phone Calls

Reported by Neil Anderson, Managing Editor

In-person meetings may be great for introductions, but for ongoing contact advisors prefer phone calls. That's one of the findings from Horsesmouth and kasina's joint FA Vision study of 2,922 advisors.

When asked to rate (on a 10-point scale) the importance of five different methods of keeping in touch with wholesalers, advisors ranked phone calls at the top, with an average score of 8.3. Websites came in second with 7.7, and e-mail came in third with 6.8. With a score of 6.0, in-person visits only beat out social media (which scored 2.2).

Hari Krishnaswami, FA Vision product manager at kasina, warned that these answers don't mean that in-person visits aren't important; he sees visits as key for starting a new relationship, just not for regular contact. As for social media's low score, Krishnaswami sees that reflecting the fact that social media is relatively new to the mutual fund world.

Watch for Horsesmouth and kasina to release the full FA Vision report shortly. 

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