New York, September 17, 2003 – Rethinking product distribution strategies is becoming an increasingly necessary step for asset management firms, according to kasina LLC, a leading management consultant firm for the financial services industry. In a recent study, kasina found that 95 percent of asset managers develop their sales and marketing efforts based on outdated concepts of success, and have not properly aligned these efforts with firm profitability. To help its clients better understand the implications of this for the success of the enterprise, kasina continues to expand its focus on providing strategic consulting services to senior sales and marketing executives.
Known globally for its e-business consulting services, kasina has also worked with leading asset management firms to optimize their distribution strategies over the past four years. kasina�s client list includes 18 of the 20 largest asset management firms in the U.S., as well as other leading firms in Canada, Europe, and the United States. kasina released the first comprehensive report on distribution profitability in June 2003. Entitled �Intelligent Distribution: Targeted Interactions for Increased Profitability�, the report provided a roadmap for evaluating the effectiveness of distribution systems across the asset management industry.
�In doing the study, we found that there is an imperfect understanding of what works and what doesn�t when it comes to product distribution,� says Steve Miyao, chief executive officer at kasina. �As the industry matures, it is critical that firms put in place metrics and strategies that will give them a better understanding of the return on their investment. Our research has found that nearly all sales and marketing groups � 89 percent � are willing to change their processes, but that they lack direction. Our intent is to provide the analytical and strategic guidance that will help our clients.�
kasina is currently working on a study that will give sales and marketing executives at asset management companies insight into how different distribution strategies can be used to target various groups of U.S.-based financial intermediaries. The report, which will be released in the first quarter of 2004, will provide unique insights into the needs of wirehouse advisors, regional and national broker/dealer representatives, registered investment advisers (RIAs), financial planners, and other intermediaries.