Heighten Brand Awareness and Grow Fund and SMA Assets with Microsoft Dynamics CRM

In order to expand market share, today’s asset managers recognize the need to be more in tune with trends on industry inflows/outflows along with the sales performance and prospecting behaviors of their mutual fund wholesalers. To meet these demands, many leading asset management firms are equipping their sales force and executive management teams with the enterprise marketing, sales, and client service solution suite of Microsoft Dynamics CRM 2011. Moreover, these firms are choosing to integrate CRM with trade and position file feeds from transfer agents and omnibus recordkeepers to give wholesalers maximum visibility into production results for their respective region.

Before fund wholesalers can even market their products to a registered rep in their region, though, an agreement needs to be in place between the fund family and the rep’s B/D or retirement platform. Although a rep may be interested in selling a particular fund, he is traditionally not allowed to if that fund is not available to be sold on one of his firm’s platforms. That is where the national accounts managers at asset management firms come into play, as they bear the responsibility of developing these essential partnerships with various B/D platforms and securing the needed dealer agreements across the country. Nevertheless, getting a fund approved and eligible to be sold can be rather complex and involve a very long sales cycle. Unlike the fund wholesalers, who cultivate relationships with financial advisors and branch managers, the national accounts managers concentrate on working with a myriad of home office executives, research analysts, due diligence personnel, and legal counsel as seen in the CRM sample screenshot below.

Thus, national accounts managers need instantaneous access to key players at focus firms along with roles, level of influence, last interaction dates, and automated meeting follow-up scheduling and reminders. Managing multiple high-profile pursuits while navigating a multi-layer hierarchy of executives can be extremely challenging and time-consuming. With CRM, however, the national accounts managers are more aware of preceding interactions, previous due diligence discovery sessions, preceding conference attendance history, and recent platform product additions and removals. Now more organized, prepared, and productive than ever before, national accounts managers are better positioned to uncover and capitalize on fresh mandates and spend more time with the ultimate decision makers. As CRM enables the national accounts managers to succeed and expand their national accounts capabilities, the fund family’s offerings will be available across more platforms. As a result of the newfound heightened brand awareness and fund eligibility, wholesalers will have more high-end advisors in their region to target. Of course, CRM, as previously noted here, can definitely accelerate the in-depth tracking and deepening of those new financial advisor relationships, too.

As the three-time defending Microsoft Dynamics CRM East Region Partner of the Year, Customer Effective provides customized asset management CRM 2011 solutions for national account managers, internal and external wholesaling teams, and institutional sales reps. Our proven templates and accelerators help empower your firm to attract and retain a much larger share of mutual fund and SMA assets in the marketplace.

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