American Funds, iShares, and Prudential Financial funds providers created stronger connections with individual providers compared to other fund advisors, according to the report Advisor Touchpoints 2010, released Wednesday by Cogent Research.
Based on a nationally representative survey of more than 1,500 registered advisors, the report found advisors named Prudential as the variable annuity provider doing the best job at keeping them personally connected to the firm’s products and services, which increased from 14% to 18% within the past year. Jackson National was ranked second at 12% followed by Sun Life Financial with an increase from 2 % in 2009 to 9% in 2010 of advisors naming it as the firm they feel strongly connected to.
Among mutual fund producers, 19% of advisors felt that American Funds does the best job at making them feel connected compared to 23% of advisors who felt this way last year. During the same period, advisors who felt Franklin Templeton Funds as doing the best job with connecting advisors doubled from 7% to 14%. Advisors cited BlackRock and Fidelity Advisor funds less often; however, these companies also experienced proportional increases.
At 32 % iShares continues to take the lead as the ETF provider with the greatest number of strong connections with advisors. While several other providers including Powershares, ProShares, and Vanguard have made significant gains in the amount of advisors feeling they have done a great job at connecting with advisors.
Additionally, Cogent Research used Emotion Mining technology to better understand the emotions that lead to stronger bonds to indentify best-in-class performance and firms rankings across a range of communication touch points.
“It’s long been understood that emotionally compelling marketing and communications are more likely to strengthen bonds with advisors and lead to greater financial returns,” said Cogent Research Principal Christy White. “What Emotion Mining™ allowed us to do was to identify concrete actions that evoke and enhance those emotions.”