Fusion Advisor Network, the unique firm that provides services to a network of mostly fee-based independent advisors headed by Stuart Silverman and Philip Palaveev, has hired Abby Salameh as its chief marketing officer.
In an interview Thursday with AdvisorOne, Salameh said that her past career experiences—notably as director of marketing for TD Ameritrade and her role in helping launch Investment News for Crain—allowed her to understand the challenges advisors face, while working at Fusion would allow her to put her “capabilities and passions” to work for Fusion’s affiliated advisors.
Palaveev (left) said Salameh has “tremendous experience working with advisors and helping them grow faster and we are very excited to have her as a part of our leadership team.” Salameh had been consulting to Fusion for more than a year before agreeing to a full-time position starting Sept. 1. Palaveev characterized Fusion, which partners with broker-dealer NFP Securities, as an organization that is now “well past the startup phase” that seeks to be the “premier resource for advisors who want to grow and create a more profitable business,” that to do so “we need the best experts in the business,” and “there’s only a few people in the industry with the caliber of Abby.”
In her new position, Salameh said she would provide consulting services for Fusion’s member firms to help them further their brands, work on Fusion’s conferences and media relations, and help Silverman and Palaveev with Fusion’s strategy and recruiting efforts.
“Fusion practices what it preaches,” said Salameh, in providing consulting to its advisors on a “one-to-one basis,” while Palaveev said Fusion is looking to have “the same kind of relationship with our advisors that advisors have with their clients.”
As to the challenges that those advisors face, Salameh said many do recognize the value of marketing, “but don’t know how to do it. They know they need a brand, a website and marketing collateral,” but don’t have a marketing plan. If they do have a plan, it doesn’t integrate well with their other business efforts, she suggested, so part of her job will be to help those affiliated firms structure an integrated marketing plan. “We’ll help them develop it, but also keep them committed, holding them accountable to the plan.”
Palaveev said that marketing “is not an event, but a process,” which isn’t a “nice way of saying things, but knowing what to say.” Adding the marketing consulting offering to Fusion firms is a natural follow-up to Fusion’s FastTrack practice management program, he said, which seeks to instill discipline into the business development process. Advisors who have gone into that program have reported an average 35% increase in revenues year-over-year, Palaveev said.