reports

In the brutally competitive battle for market share, external wholesalers have been on the front lines. Their compensation waned as asset levels declined. They are now selling to an audience of advisors with diminished brand loyalty, changed expectations, and a stated desire for more substantive (not more frequent) support.

Given this backdrop, asset management firms are challenged to redefine, or at least refine, how they deploy a scarce and expensive resource, external wholesalers, to best effect. For this report, kasina worked with asset managers to identify changes and best practices within External Wholesaling functions across the industry. In addition, this report identifies key benchmarking data that Sales Executives need to insure
competitiveness with peers.

Excellence in Distribution: External Wholesaling identifies levers that sales executives can use to maximize the impact of their sales forces:

• Sales Force Structure and Selling Process
• Territory Management
• Compensation
• Technology Deployment

The report contains specific recommendations on the following topics:

• Wholesaler selling and servicing time
• Staffing to obtain productivity improvements
• Maximizing managers' impact
• Territory management
• Wholesaler compensation
• Using technology to drive scale

The report concludes by drawing a profile of an ideal wholesaler. It identifies ways for firms to progress to having wholesalers who are set up for success as knowledgeable and trusted business partners to advisors, as well as aligned contributors to the firm's business and profitability objectives.

This report gives asset managers the tools and data necessary to revisit their external wholesaling strategy and tactics in a rapidly changing and challenging environment.