When financial advisors evaluate mutual fund shops and other product providers, performance isn't the only factor on top of their minds.
| T. Neil Bathon|
FUSE Research Network
The folks at New York City-based industry marketing communications agency JConnelly
informally surveyed 128 wirehouse FAs and RIAs earlier this fall on behalf of FUSE Research Network
. The JConnelly team found that, when asked what factors they consider when evaluating product providers, the top answers were "performance" (three-quarters of FAs listed this) and about "reputation/brand" (also about three-quarters). And about two-thirds of FAs pointed to "clear specialty or differentiator".
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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