The RIA space is a goldmine for investment sales professionals, offering boundless opportunities to raise capital. With their independent structure and fiduciary obligations, RIAs have the flexibility to explore a diverse range of investment strategies, making them prime targets for fundraisers. For investment sales professionals, the key to unlocking this potential lies in identifying the right RIAs - those actively allocating capital to outside managers.
However, without a proper database, prospecting in the vast RIA landscape can feel like searching for a needle in a haystack.
A reliable database is essential for streamlining your outreach, quickly pinpointing RIAs that align with your investment strategy. While many platforms offer lists sourced from Form ADV data and other industry registries, not all databases are built equally. Some provide little more than static spreadsheets, while others serve as dynamic, real-time lead generation tools.
Recognizing the power of a well-designed platform, we created Dakota Marketplace. Built specifically for investment sales professionals, Dakota Marketplace gives you the edge by offering real-time updates, advanced filtering, and deep insights into RIAs.
In this article, we’ll explore how Dakota Marketplace can revolutionize your RIA outreach, helping you harness the full potential of this lucrative channel. By the end, you’ll see why having the right database is critical to driving your success.
Dakota Marketplace is an institutional and intermediary investor database designed by fundraisers, for fundraisers. Launched in 2019 and serving over 1,000 firms, the platform is updated in real-time, offering complete cross-channel coverage.
With the implementation of the first ever filterable Form ADV Database, Dakota Marketplace offers fast access to Form ADV data, eliminating the need to wade through cumbersome government websites. The platform provides essential insights, including:
Detailed advisory business descriptions
AUM breakdown by client type
Custodian relationships and corresponding business volumes
Ownership information
Private fund reporting, and more
One key feature, via the private fund reporting, is the ability to target feeder funds, which offer RIAs a way to pool client capital and access alternative investments without the high entry barriers. For RIAs whose clients want exposure to illiquid alternatives but can’t meet individual minimums, feeder funds present an ideal solution. Dakota Marketplace makes it simple to identify RIAs using feeder funds, saving time and increasing your chances of securing meetings with firms that are ready to invest in alternatives.
From our extensive database of over 14,500 RIAs, we’ve curated a list of 450 RIAs actively creating feeder funds. Targeting these RIAs is even more effective when factoring in custodian relationships – 350 of these RIAs are with Schwab and Fidelity, custodians known for their independence and flexibility in investment decisions. Unlike RIAs tied to broker-dealers like LPL or Wells Fargo, Schwab and Fidelity RIAs face fewer restrictions when allocating to alternatives, making them prime candidates for outreach.
Beyond sales efficiency, feeder funds streamline operations for alternative managers by reducing administrative burdens. Instead of managing multiple small accounts, you deal with a single LP, the feeder fund, leading to a more efficient and smoother investment process.
The value of Dakota Marketplace is clear: it not only gives you access to over 14,000 RIAs, but also enables you to focus on the most strategic opportunities – those actively using feeder funds and supported by accurate, real-time Form ADV data – making your sales efforts more efficient and targeted.
Dakota Marketplace is more than just a database; it’s a strategic tool for fundraisers looking to identify and connect with RIAs. By offering detailed Form ADV data and insights into feeder funds, it simplifies the process of targeting firms that are ready to invest.
With access to over 14,500 RIAs, including 450 firms focused on feeder funds, Dakota Marketplace allows you to pinpoint the most strategic opportunities, saving time and boosting your chances of success. The platform's real-time updates and focus on efficiency ensure that your outreach is targeted and impactful, ultimately streamlining both sales and operations for alternative managers.
To learn more about Dakota Marketplace for RIAs, book a demo!
Written By: Morgan Holycross, Marketing Manager
Morgan Holycross is a Marketing Manager at Dakota.
July 11, 2024
June 27, 2024
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