As managers focus on growing the size and scope of their practice, it is often the fundamental elements of marketing and distribution that present themselves as key barriers to success, says an industry specialist. Just like any other small business owner, managers face the critical challenges of developing their brand, explains Alma Piscitello, the senior vice president of strategic relationships at Northern Lights Distributors. “Tackling this challenge means managers need to take a close look at their individual value propositions, what makes their investment strategy unique, or whether they have a specialty or a core philosophy that drives their investment acumen,” Piscitello said last week in an interview with Money Management Executive. Piscitello has worked closely with the investment advisor community to help firms develop unique marketing and distribution plans, and says she has discovered that many managers often overlook what should be most apparent. “Understanding how (clients) select their investment solutions and what’s important to them is critically important,” Piscitello says.

What are some of the major distribution challenges managers are facing in the year ahead? The big challenges that I see are the buyers’, or the investment advisors who are selecting the strategies, the selection process has changed. Because of a surge in technology, a lot of the information is easily accessible. The conversation has changed. From a sales perspective, that conversation is no longer about, “Let me tell you about my strategy,” but it is more about, “Let me have a conversation with you about the”…

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