Nearly half of all surveyed advisers said that their service requirements for wholesalers increase during challenging market environments. It should be noted that the turbulent markets advisers refer to did not include the “seismic events taking place at the end of the third quarter,’ according to a release from the Financial Research Corporation (FRC).
Of the surveyed advisers, 88% of respondents stated that wholesalers had been responsive to their changing need, according to FRC. Russell led all firms with 98% approval, followed by American Century and Putnam, each with 97%.
“Our surveyed advisers spoke highly of the efforts of many of the firms that they work with in terms of their wholesalers staying in front of them during the uncertain times and providing timely and relevant information that could be used during client conversations,’ said Craig Kilgallen, vice president and director of ADVISOR INSIGHT.
The survey of 1,860 financial advisers and 182 branch managers was conducted for FRC and Horsesmouth’s latest ADVISOR INSIGHT report, “Wholesaler Effectiveness.’