BOSTON—Mutual fund wholesalers’ sales pitches are unimaginative and all too often the same, said speakers at FundForum USA 2010 here Monday, during the session “Managing Expenses in a Changing Distribution Market.”
“The end user has a hard time differentiating between funds and even the registered investment advisers who sell them,” said Ed Butowsky, president , CEO and wealth advisor at
Wholesalers might want to consider e-mailing spirited videos to make themselves stand out, Butowsky said. “At the end of the day, we’re salespeople. Those who understand investment management and portfolio structure will win the day—but find creative ways to do it.”
Rich DeSalvo, principal of
“As a broker, I want to know how are you going to grow my pie and increase my profits,” DeSalvo said. “Ditch the pitch books. Use a white board instead . Don’t talk at me. Tell your story from the heart.”