MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, May 7, 2001 Harbor Revisits RIA Market The end is nigh for Harbor Capital Advisors, and that's a good thing. Since the largely-institutional firm expects its sale to the Dutch Robeco Group to close in mid-summer, it is already laying plans for its new relationship. Robeco, unlike current owner Owens-Illinois, is in the asset management business. The firm, while taking a hands-off approach, wants to cultivate Harbor and has elevated earnings expectations for its newest charge. "The trajectory is going to change," said Warren Berlin, account executive at Harbor. "I think we're going to move upwards quite a bit." In order to facilitate accelerated growth, Robeco plans on supporting Harbor and pushing it in new directions. "Harbor has not been a fund that's really been built on marketing," said Berlin of the firm's traditional operating model. "Robeco is a little bit more of a mind set that a larger marketing contingent would be good." Nonetheless, Berlin asserted that Robeco's nudging primarily serves to encourage Harbor to consider avenues of marketing that had previously seemed a little daunting. For instance, when the Columbus, Ohio firm discovered that it had a healthy contingent of advisor clients, it examined the possibility of gearing up for a serious push into the RIA market. At the end of last year, the firm had decided to simply serve RIA clients, rather than seeking out more business. However, with Robeco's support, Harbor will be making a play for advisors. "We're going to take maybe a different approach than most," explained Berlin. "We're not going to be a wholesaler banging on the doors, showing upon their doorsteps." Berlin said that Harbor is exploring the best way of penetrating the advisor market using internal staff, since the firm is dead set against hiring wholesalers. "We've been contacting them, discussing what their likes and dislikes are. It's actually quite exciting because [pension] consultants aren't really open to that kind of dialogue, but I'm finding that in the RIA market, they're much more open," said Berlin. "If you're honest about it, I'm finding that they're interested in partnering with you, teaming with you. I think we're more entrenched in the RIA market than we ever imagined." Harbor Sale! , Mar. 21, 2001 Harbor Fund Goes Global , Feb. 1, 2001 Bounty From Schwab RIAs Challenges Firm , Dec. 7, 2000 Printed from: MFWire.com/story.asp?s=26556 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |