Foreign Money Managers Need To Aggressively Court RIAs, Consultants Say
The Boston Consulting Group notes in a new white paper that the RIA channel should be the top market -- beyond the massive wirehouse platforms -- for foreign funds looking for ways to broaden their U.S. shelf space and brands.
The rewards simply outweigh the "challenging economics" of working with the notoriously fragmented RIA market, BCG says.
Unfortunately, those very challenges make many fund vendors skittish about courting smaller accounts, so BCG warns that advisors who want the best global products for their clients still have to reach out first to make contact.
Until the fund companies come around, advisors simply have to be proactive when it comes to shopping the market and then making sure there's a way to bring the most tempting opportunities to their platform.