Nearly 58% of asset management firms are using hybrid wholesalers as they increase in scale and opportunity, according to a new study from the New York research firm
kasina’s new report, Excellence in Distribution: Hybrid Wholesaling examines hybrid use in the industry and defines three optimal implementation models. The report includes benchmarking data and best practices for managing and mentoring hybrid wholesalers, optimizing sales teams and territories, and compensation and incentives.
“We have identified three basic models for the use of hybrids, which allow firms to pursue specific types of sales opportunities,” said Steven Miyao, founder and CEO of kasina. “Firms new to using hybrids may try the 'opportunistic' model to plug temporary gaps, or the 'spin-off' model to address the needs of a new channel or product line.
“The best model for most firms over the long term is the 'team' model, in which hybrids work in tandem with externals and internals to focus on segments of advisors within a territory,” Miyao said.
Forty-seven percent of advisers prefer communication via e-mail or web, kasina found, and hybrid wholesaling offers a flexible, affordable way of serving advisers in the way they want.
