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Friday, July 20, 2012

Dow Jones Courts Advisors

Reported by Ben Geier

Mutual fund PR folks seeking to gain column inches and access to advisors are getting another outlet sometime soon. Dow Jones and Co., the financial media giants behind The Wall Street Journal and Dow Jones Newswires, is rumored to be starting a product focusing on news for and about advisors.

Sources close to the situation have told MFWire that as many as 10 reporters will be focused on the space. The reporter count includes both dedicated reporters and those on the beat part-time.

Dow Jones managing editor for wealth management Kevin Noblet will be leading the project. Noblet told the MFWire in an e-mail that the project was "not a new initiative."

Several public relations professionals working in the mutual fund industry had not heard about the project.

Dow Jones has had a tumultuous few weeks. First, long running personal finance magazine SmartMoney shuttered its print edition, moving to online-only after the August issue. Shortly thereafter, parent company NewsCorp, headed by Australian kingpin Rupert Murdoch, announced it would be splitting its entertainment units from its news operations.

The advisor-focused content would bring a storied brand to the space and open the possibility for focused-advertising and potentially subscription revenue from advisors. However, the space is already crowded with publications, including: Financial Planning, InvestmentNews, Financial Advisor, Investment Advisor (AdvisorOne) and Web-only RIABiz.

Last month Penton Media rebranded Registered Rep as WealthManagement.com

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