WELLESLEY, Mass.Mutual fund wholesaling isnt what it used to be. Today, highly sophisticated gatekeepers at broker/dealers go by the name of Fund Selection Units, where they hold mutual funds up to a whole new set of demanding criteria akin to the rigors that pension plans put investments choices through.
At the same time, the percentage of sales through independent registered investment advisors and small B/Ds is on the rise. Combined, these two sales trends are having the effect of raising the cost of distribution and making the mutual fund industry even more competitive, with the top three giants
This was one of the key points that speakers drove home Monday at the
Today, the focus is very much on how the fund behaves in the marketplace, rather than on whether it has four or five stars, said Darlene T. DeRemer, a partner with financial services investment banking boutique
Building relationships is not all there is, concurred said Jack Sharry, senior vice president, alternative retirement solutions at