Asset Management Company Expands Retail Wholesale Team

The Problem

A leading asset management company was looking to expand its sales force reach to drive share among financial advisers. The company wanted to improve its coverage of wirehouses, banks, RIAs and independent financial advisers through efficient deployment of internal and external wholesalers.

The Solution

ZS worked with the company to define the optimal sales method (internal, external, hybrid) to cover each adviser segment. Our solution included:

  • Detailed opportunity analysis incorporating third-party and company data
  • A sales response model to determine the optimal number of sales calls to each adviser
  • A headcount and ROI model to support the recommended headcount per selling role
  • Recommendations for how channels will interact in joint customer coverage
  • Design of sales territories and rollout to first-line sales managers for review and refinement

The Results

The company wound up expanding its sales coverage substantially, particularly in the wire house and RIA channels. A hybrid (internal-external) wholesaler team was created to provide efficient coverage among midtier advisers in the RIA and independent channels. In spite of the broad changes, sales territories were designed to achieve the new structure while minimizing change to existing relationships.

The company piloted changes first in one sales region with great success. The territory design and FA coverage program was quickly expanded to include the entire United States.