Experts appearing in financial media appear to outperform advertising in shaping advisors' opinions on asset managers, a new study from Fuse Research Network suggests.
The report, "Advisor Trend Monitor: Marketing Support: The Advisor View," found that financial advisors overwhelmingly favor experts' insights, or thought leadership, over traditional advertising in developing opinions on fund companies.
Specifically, nearly half rate expert opinions, such as commentary in financial media or appearances on CNBC programs, as effective or highly effective in shaping their views. Even more consider live expert interactions such as conferences, specialist conference calls and webinars effective in shaping their opinions, Fuse found in its survey of more than 520 advisors across all channels in March.
On the other hand, according to Fuse, nearly half of advisors indicate that traditional TV and digital commercials are ineffective.
"Advisors are clearly telling us that credibility matters more than visibility," said Mike Evans, Fuse Research Network partner and advisor research director. "Expert insights and commentary carry significantly more weight than traditional advertising because they provide real value in helping advisors interpret markets and make informed business decisions. Firms that invest in thought leadership are better positioned to influence advisor perception."
Among other findings, advisors overwhelmingly prioritize "actionable, market-relevant content," with market outlooks and portfolio manager commentary providing the most significant impact.
Advisors are most influenced in their asset manager opinions, the survey found, by high-touch interactions with experts, especially speakers at company events and specialist-led conference calls. And they rank tax management and retirement planning as the most valuable program topics, according to the report.
American Funds/Capital Group, BlackRock, First Trust and JPMorgan led among advisors in thought leadership, while digital leaders include First Trust (for email), JPMorgan (on LinkedIn) and American Funds/Capital Group (for its website), according to the report, which includes numerous advisor firm rankings of asset managers in various categories.
Most advisors attend one to two conferences annually, with LPL Focus and Schwab Impact considered the top industry conferences.
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