In a post-pandemic environment where hybrid work is here to stay and the number and variety of strategies available to institutional investors just keeps growing, cultivating meaningful consultant relationships is more difficult – and critical – than ever for asset managers.
Underscoring the challenges posed by the hybrid work environment, consultant firm consolidation, and volatile market conditions, a new survey report from Cerulli Associates concludes that managers need to adopt more targeted approaches to effectively engage with consultants. Successful strategies include developing close ties with research management groups, both regionally and broadly (rated as 94% and 67% effective, respectively, by survey respondents).
While conferences are still considered a critical platform, asset managers are now placing more emphasis on carefully planned interactions during these events, focusing on the most impactful individuals and strategies. This tailored approach is particularly crucial as competition intensifies among asset managers to secure ratings and recommendations from increasingly taxed consultant firms, according to the report.
Timely updates to consultant databases are also seen as a vital differentiator, with all consultant relations professionals (100%) deeming it critical for new business generation, along with articulating clear investment philosophies and demonstrating strong past performance. Value-added content like thought leadership pieces, especially on topics such as AI, is also becoming increasingly influential in gaining the attention of consultants, with 47% of respondents rating it an important engagement tactic.
The bottom line is that “managers will have to tailor both digital and in-person strategies to break through and win assets from high-conviction prospects,” Director Laura Levesque said in a statement announcing the release of the report.
Source: https://www.cerulli.com/press-releases/managers-adapt-marketing-strategies-to-target-investment-consultants
