Asset managers trying to grow their intermediary distribution businesses are coming up against fund selectors who are increasingly more discerning. Multiple teams, from global gatekeepers to local salespeople, now collaborate to provide input into the manager/fund selection process.
While relationship managers could get away with talking through a fund fact sheet in the past, gatekeepers now demand a higher level of servicing and depth of conversations.
Additionally, gatekeepers are narrowing their focus and seeking out “preferred relationships” among their asset managers, to partner with and maintain a diversified product shelf for the retail investor.
Taking Action
The landscape has changed and managers will need to adapt to stand out amid rising competition.
Read Global Asset Management: Drivers of Success on Intermediary Fund Platforms to find out specific actions we recommend to build deeper, stickier relationships.