Investment advisers at credit unions and CUSOs are familiar with the litany of visits, e-mails and calls from providers, but those frequent contacts may not yield long-term relationships.
That is one of the findings from Cogent Research's Adviser Touchpoints report, which explored the frequency, combination, and effectiveness of product providers' outreach efforts. Cogent surveyed 1,529 advisers in the United States with a minimum of $5 million in assets currently under management.
The report found that the advisers manage an average of 14 product provider relationships and receive more than 100 e-mails, mailings, wholesaler visits and sales calls each month.
Advisers tended to favor tailored strategies that met their specific needs, and electronic communications over phone calls and visits, especially for sales ideas and monitoring product performance, the data showed. Many were also open to Webinars to learn about new product information and business-building strategies.
"Clearly, when it comes to outreach strategies, it's not only about quantity. It's also about quality," said Cogent Principal and co-founder John Meunier. "Over the past year, firms that brought real ideas to the table, from both a product and practice standpoint, have been rewarded with a stronger bond to the advisers they serve."
