Advisors will probably say they don’t need a study to tell them they’re barraged by product pitches; for manufacturers, however, the results could be eye-opening.
The typical advisor receives 50 to 100 different marketing and sales contacts a week in various formats, according to a new report from the Boston-based research and consulting firm Practical Perspectives.
Additionally, the report, “Communicating with Financial Advisors–Insights and Opportunities 2013,” found roughly one in three advisors indicate they actually receive significantly more communications.
“Many advisors find the volume of marketing and sales contact to be overwhelming and are challenged to devote time to reflect on these outreach efforts,” the report says. “Consequently, a large portion of the messaging is given cursory attention or ignored, especially from firms that advisors are not currently engaged with.”