According to the latest Evolution Revolution report produced jointly by the Investment Adviser Association and National Regulatory Services, “the number of SEC-registered investment advisory firms grew 3.3% over the past year to 12,933” and Regulatory assets under management (RAUM) by RIAs also grew, to $83.7 trillion, almost four times the AUM reached in 2001. But the question is, why is it so hard to establish a relationship with a Registered Investment Advisor? How do you get yourself through the front door and educate an RIA that working with you is beneficial? How do you educate advisors on your strategies, how do you provide value to the advisors practice?
The key to building your network of RIAs is first building your relationships.
It seems simple in theory, but establishing meaningful, productive relationships can be harder than pulling Excalibur out of the legendary stone.
“Nearly 13,000 RIAs are providing 43 million clients financial advice, continuing an upward trend across the industry” City Wire USA
Wholesalers are finding that earning these relationships with an RIA is not easy. This is a business of relationships that can be established in person, over the phone, email, LinkedIn, other social media, or even through the mail. Establishing RIA relationships takes time and strategy.
Take it from one wholesaler-turned-RIA, who wrote: “The problem is too many distributors only pay lip service to the concept, not wanting to put in the time, and messing up the ones they do build. RIAs place a premium on their relationships with their clients and their vendors. It’s one of the key things that set them apart from their competition. The challenge distributors have is that these relationships are hard to earn.” Selling to RIAs, Oliver Tutt, Wordpress 2010.
So what is the key to earning a relationship with an RIA? That's where Anchor Advisory Services comes into play. Over the last 18 months we have refined our RIA acquisition methods and what we can tell you is you need to have a clear process and some patience. We have spent months calling thousands of RIA's and learning about their business. We put in the work of researching and gaining a better understanding of what RIAs are looking for, so when you partner with our firm you can be utterly confident in our outreach strategies.
The management team at Anchor has decades of experience in the financial services industry, and understands both the retail and wholesale sides of the business. We have learned through our experience that the industry is changing rapidly. Raising capital solely in the Independent Broker Dealer Channel isn't providing the desired objectives for sponsors across the country, therefore, we created the "RIA Acquisition Group" as a turnkey approach to building and earning valuable relationships in the Registered Investment Advisor (RIA) channel. Sponsors and asset managers can benefit from our relationships and our verified process of uncovering valuable RIA leads and ultimately helping our clients create a more diversified, cost effective capital source, helping you get through those front doors a bit easier.
There are 12,993 registered investment advisors in this country, let Anchor help you build and establish relationships with this valuable sector of the market. Connect with us today to learn more.
