February 17, 2022
It can be overwhelming to try and find the right institutional investor database for your business. Even a cursory search will show that there are dozens of databases to choose from, each promising to end your sales teams’ problems by delivering the data and leads needed to drive your goals home.
Each one focuses on a different channel and provides a different level of insight — so where do you start?
At the end of the day, you’re looking to drive results for your business, and to save your sales team from doing the administrative heavy-lifting that comes with prospecting and setting meetings.
In the investment sales industry, the database question often comes down to a few key players, and it is not uncommon for a firm to narrow their search down to a handful of contenders. Two major contenders include Money Market Directory and Dakota Marketplace.
We’ve said before that the word database has become almost taboo in our industry, and we think it’s wrongfully so.
For that reason — and because we believe that building trust is the key to any new business partnership — we have no hesitations about giving an overview of the main differences and features between us and one of our competitors so that you can make the best decision based on what you’re looking to achieve for your business.
In fact, we have no problem pointing out that Money Market Directory (MMD) is a great partner that provides their users with the data they need to move their business forward.
This article will give you an overview of the structure of both MMD and Dakota Marketplace, including the ways in which the data gets updated, its target audience, the interface, as well as the price of each. If any of this information, like pricing, was not available on their website, we’ve left it off.
By the end of this article, you’ll feel more informed about your options, and feel empowered to make a database selection that’s right for your team.
Money Market Directory is a well-established database with over fifty years of business under their belt. Their services help industry professionals find prospects, identify sales opportunities, and build relationships using market data.
MMD has over 82,000 Institutions, 68,000 Pension Plan Sponsors, and 14,000 Endowments/Foundations, and Tax-Exempt Organizations within their platform, giving institutional investment sales people plenty of information to use as they start their outreach.
In its own words, MMD collects, analyzes and interprets data from millions of hard-to-get sources, so you can make better decisions.
MMD’s primary audience is institutional investors.
S&P Global has been a major player in the investment management space since 1860.
Pricing was not included on their website, but a demo can be scheduled for more information.
MMD offers a simple, clean interface that allows users to perform search for what they need, as well as request additional research on a particular topic.
It was not clear on their website whether platform descriptions are included, but this could be found out through a demo.
MMD offers a variety of additional research and insights options, including insights into Credit Analytics, Climate Credit Analysis, Fundamental Data, and more.
Money Market Directory is a good fit for investment sales people who need a wide selection of data, or are just getting started in the industry and want to get a sense of what’s out there.
Dakota Marketplace is an institutional investor and RIA database created and maintained by the fundraising team at Dakota investments, who have used Marketplace to raise over $30B since 2006. At its core, Marketplace is a database that allows investment salespeople to quickly find the right contacts to reach out to schedule meetings.
With over 9,000 accounts and 31,000 contacts, Dakota Marketplace offers a focused subset of the overall investment sales landscape.
Equipped with a team of four database administrators and a variety of software platforms including LinkedIn Sales Navigator, Neverbounce, and Seamless, the Dakota team ensures that the data within Marketplace is constantly being updated and added to so that investment sales professionals always know who to call on.
Dakota Marketplace targets Investment sales professionals who want deep, granular insight into how allocators invest, how a platform is managed, and how investment decisions are made. Dakota Marketplace is focused on titles and asset class coverage areas.
Dakota was founded in 2006, and Marketplace was created in 2018 by a fundraising team that uses the data within Marketplace themselves every day. Because of this, by its very nature, the data is guaranteed to be as accurate and complete as possible — we know because we’re using it.
A subscription to Dakota Marketplace is $13,500 per year for one user, and $1,000 for each additional user license.
The Marketplace interface was designed with investment fundraisers in mind. The database is divided into metro areas and broken out further broken out by channels that reside in those metro areas. The details of each firm include the name, the contacts within that firm, as well as metro area, and AUM.
Dakota Marketplace offers detailed descriptions of every account within the database and is focused on what the investment sales professional needs and wants to know.
Dakota brings the Marketplace data to life with the bi-weekly Dakota Live! Call. Each week, the team hosts one primary call and one alternative investment call. During the calls, an allocator from within the Dakota Marketplace is featured in an interview during which they talk about their platforms so listeners can gain insight. The calls also profile a city every week and brings the database to life by giving listeners something to focus on in each city.
Dakota Marketplace also offers daily Public Plan Notes, Searches, 13F information, and Manager Presentation to its members.
Dakota Marketplace is ideal for Investment sales professionals who are looking for a detailed look into accounts that allocate to outside managers.
There are a few things to keep in mind when you’re researching an institutional investor database, and they usually come down to a few key questions.
What channels do you cover? (Consultants, RIAs, Banks, BD, Direct Pensions, Sub-advisory, etc.)
What is your product structure? (Mutual Funds, Separate Account, LP, ETF, CIT, etc.)
How much does it cost?
If you’re focused on selling in any category of the institutional investment industry, MMD is a good fit.
Finally, if you’re an investment sales professional looking for a laser-focused list of prospects to call on, Dakota Marketplace would be a great partner for your needs.
While MMD and Marketplace are two of the databases at the forefront of our minds, we also have a more comprehensive list of institutional investor databases for you to consider, so that you have the complete picture.
We know that if you’re here, you already know the key benefits of an institutional investor database, but we have a quick list that might be helpful to share as you pitch the idea to the bigger team.
Stop wasting time on prospecting and data administration. Start setting up meaningful meetings with your free trial of Dakota Marketplace.
Gui Costin is the Founder and CEO of Dakota.
