NEW YORK - There are currently more than 14,000 financial advisors in the United States managing roughly $1.6 billion. Meanwhile, 2,500 new financial advisors enter the business each year and 1,500 drop out. So, how does a mutual fund company cultivate such a fragmented and fluid audience? Mutual fund executives say there are no simple answers.
However, companies can try to solidify ties with this channel by getting out in the field and becoming acquainted with individual advisors. The place to start is meeting financial advisors at industry conferences - as many as 25 a year, executives say.