Improving Mutual Fund Wholesaler Territory Management with Microsoft Dynamics CRM

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Cerulli Associates recently released a research report entitled “Intermediary Distribution 2012: Optimizing Channel Strategies, Product Focus, and Sales Team Effectiveness.” In the study, Cerulli projects that the market share of the larger, national Wirehouse Broker/Dealers (B/Ds) is going to continue to decline slightly over the next three years. Registered Investment Advisors (RIAs), Defined Contribution-Investment Only (DC-IO) platforms, and Independent and Regional B/Ds are anticipated to benefit. As you can see in the chart below, many asset management firms are deciding to reallocate their sales forces to better target and serve the new emerging channels, with RIAs receiving the most renewed focus. It will be interesting to see if this trend continues as Wirehouses are always at the top of any Mutual Fund’s focus firm list.


Source: Cerulli Associates

While the reorganization of sales resources and realignment of territories is never easy, one thing is for sure - top producing wholesalers will still turn to Microsoft Dynamics CRM 2011 to more efficiently manage their territory and increase their sales performance.

In order for asset management firms to grow AUM in a business climate dominated by increasing regulation and mounting competition for advisor attention, mutual fund wholesalers need more actionable intelligence on all of their producer relationships at the firm, branch, and individual rep level. It is crucial for wholesalers to have real-time insight into latest trade, sales, and AUM data so they know who is producing, who is not, and who could afford to be contacted more frequently. The more touches and face time wholesalers get with top producers and branches in affluent suburbs of large metropolitan areas, the easier it is to cultivate deeper relationships and the more likely it is that advisors will drop more tickets in one of their firm’s funds. As a result, leading wholesalers rely on CRM to always be informed of the last time they met with a rep and when the next meeting is scheduled. It never helps if a wholesaler walks in blind and totally unaware of the prior day, month to date, and year to date production of the advisors he is meeting. Not knowing that information can get the visit off to a bad start and result in missing an opportunity to introduce a new fund launch or strategy. Showing up “in the dark” or relying on incomplete, inconsistent, and inaccurate performance reporting will certainly impede the wholesaler’s intent to provide value-added consultative advice, deliver high quality service to advisors, and ultimately win more business. Utilizing CRM directly within MS Outlook to track all sales and AUM results along with interaction history and contact info for all advisors in one’s territory, particularly those within certain key zip codes, enables wholesaling teams to deliver the most relevant fund recommendation, investment strategy, or market tidbit at the right time and earn more sales.

If you are an asset management firm looking to help your sales team engage more effectively with financial advisors and institutional prospects, please contact Our Customer Effective: FinServ for Asset Management CRM platform is a comprehensive xRM Marketing, Sales, and Service suite that comes with pre-designed process automation and reporting templates that are tailored to the needs of retail fund wholesalers and institutional sales reps at asset management companies.

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