Consultant Relations within Asset Management

March 05, 2012  |   Posted by : brooke  |   Asset Management / Private Wealth,News   |   Comments Off on Consultant Relations within Asset Management»

Fairway Market Intelligence (FMI), recently completed a piece of research analysing how leading London-based Asset Management businesses structure their Consultant Relations teams. We looked at this across all levels from the Global Head down and there have been some interesting findings, with wide variations within the scope, responsibilities and focus of Consultant Relations within each firm.

Each team has a unique blend of products which they will communicate to the market and they will also have clearly defined splits between retail and institutional business.

Businesses engage specific teams to manage each distinct function. This will result in a crossover of touch points between each team and each Investment Consultant firms. The structures will rely on an excellent, seamless level of internal communication. Many firms task the Global/EMEA Head of Consultant Relations with developing new business and preparing the initial stages of presentations. This principal will then delegate responsibility to other teams or within his/her own team.

Irrespective of company the emphasis is always on a two-way passing of information. Whilst imparting information on the firm’s existing and new products and services, it must also absorb the latest market trends and competitor offerings. This unique market data can then be communicated internally to ensure the continual evolution and competitiveness of their proposition.

Within the Consultant Relations team, the internal segmentation of the relationships with the Investment Consultants can also vary between each Asset Management business. Some teams will divide their accounts in order of size, with the experienced members of the team managing the largest and then delegating downwards. However others are focussed on the Investment Consultant’s requirements and seek to best match each individual team members’ expertise in these products. These firms will take a more pragmatic approach to the relationships; matching the team member to suit, irrespective of size or seniority. This wide range of team structures cannot be reconciled with the size of the firm. Large and small firms have developed over the years with a unique outlook on how best to manage these key relationships.

Finally; reporting lines and senior management job titles will give little indication as to the Consultant Relations’ team structure and individual day to day responsibilities.

Fairway Search Partners specialise in executive search within Asset Management. To discuss the specific findings of the latest market research into Consultant Relations, including compensation structures and salary survey, or to request a full copy of the report, please contact us.

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