Investment managers are committing more sales and marketing resources to RIAs and the Defined Contribution Investment Only (DCIO) market, according to new data from kasina, a provider of market analytics to the financial services market.
A study of 30 asset management firms with average assets under management of $135.3 billion shows 64% of firms have a sales force dedicated to calling on RIAs, up from 47% last year.
The average firm had a sales force of 132 people.
Specialists targeting the RIA and DCIO market each represent 3% of sales forces, on average, the smallest percentage of committed sales people.
But those numbers are poised to grow, according to kasina.