10.15.24

Wealth Firms Want Asset Managers To Step up Specialist Support

by: Leo Almazora

Wealth managers want asset managers to expand their teams of product specialists to navigate the growing complexity of investment offerings, according to a survey from Broadridge Financial Solutions and the Money Management Institute. The survey found that about three-quarters of wealth managers believe asset managers should increase their focus on hiring product specialists, marking a significant rise from just less than four in 10 in 2023. "The investment management landscape is rapidly evolving due to an influx of younger investors and unsteady markets forcing wealth managers to look at newer, non-traditional products for alpha generation," said Tim Kresl, principal of distribution insight at Broadridge. "Asset managers now more than ever have an opportunity to provide innovative products and onboard the right talent to meet the demands of today's investor."

Read the full article on InvestmentNews