Data & Research December 13, 2010

Pursuing the RIA Market

Consulting firm kasina has published a report examining the methods asset managers should use to sell to registered investment advisers (RIAs).  
Reported by

The study, Optimizing Your Opportunities with RIAs, looks at different ways asset management firms can craft appropriate strategies for selling and providing services to RIAs, kasina announced.  Kasina’s research found that 29% of firms do not have a dedicated wholesaling team dedicated to the RIA market, and 60% of firms do not have a Web site dedicated to it either.

“RIAs are fundamentally different than other advisers,” says Eric Daugherty, kasina’s Director of Research. “They have lofty expectations of asset managers and distinct contact preferences from other advisers. They view wholesalers in a different light and look for specific types of information on the Web. Most firms seem to recognize these facts, but not all firms are providing a differentiated experience for RIAs. Our data show that RIAs only work with a small list of providers. Getting in synch with this growing but discerning audience needs to be top of mind for asset managers who want to capitalize on opportunities with RIAs.”

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

The findings are based on interviews with asset management executives and findings from FA Vision, a benchmarking service on adviser behavior and preferences done by kasina and Horsesmouth.  Some of the issues addressed in the report include:

  • Is a dedicated team of RIA wholesalers necessary?
  • How to staff an RIA team
  • Developing a segmentation strategy
  • Leveraging National Accounts, wholesalers and online to serve different RIA segments
  • Working with dually-registered advisors and specialty practices
  • Which online capabilities do RIAs want?
  • How to measure and compensate RIA wholesalers
Deals & People December 13, 2010

Diversified Hires New West Coast Sales Exec

Diversified Investment Advisors announced that Greg T. Hodges has joined the company as a sales executive for the west coast.
Reported by

Hodges will be responsible for the sale and marketing of Diversified’s retirement plan services to corporate and not-for-profit retirement plan sponsors in northern California, Wyoming, Colorado, Hawaii, Utah and western Nevada. He will be based in Salt Lake City, Utah.

According to the announcement, Hodges joins Diversified with 17 years of industry experience.  He previously worked at Great-West Retirement Services where he was a regional director for national markets specializing in non-profit 403(b) and 401(k) plan development and sales. He has also held prior positions at New York Life Investment Management, ICMA Retirement Corporation, Fidelity Investments and Wells Fargo.   

Hodges is a graduate of George Fox University.

«