Cerulli Associates has released their latest report ‘The State of Wholesaling: Next-Generation Coverage Models’, which reviews the current intermediary distribution strategies of asset managers and other product providers.
According to the report, product provider wholesalers have been forced to develop a more consultative approach to work with advisors in the same way they work with clients. The role of the product provider wholesaler will still be essential as product providers must find a way to distinguish themselves from the ever-increasing menu of options for financial advisors. With similarities between traditional distribution channels increasing, product providers must evaluate whether they are providing all advisors with the necessary resources.
“It examines how asset managers and other product providers are responding to many of the trends shaping the industry today,” says a spokesman for Cerulli. “Based on these trends, it offers a framework for product providers to evaluate their strengths and roadmap to growth.”
The quantitative components of this report are based on Cerulli Associates’ online surveys. The data was obtained from several surveys, including a one-time survey of asset managers in addition to annual recurring surveys of broker/dealers and financial advisors. The study includes perspective from sales and marketing executives in product providers as well as broker/dealer employees responsible for product provider relationships.