• Financial advisors are looking to cut back on the number of interactions they have each year with their top three wholesalers. Based on a recent FUSE/WealthManagement.com survey of advisors, overall respondents indicated 9 was the ideal number of interactions. This is down from an average of 10.7 touches during the prior year. The breakdown of the 9 total interactions is as follows:
  • In-person meetings: 2.7
  • Phone: 3.7
  • Video conference: 2.5
• Wirehouse advisors are more receptive to meetings, phone calls, and virtual meetings compared to their counterparts in the independent broker/dealer and RIA channel with a total of 11 on average (3.6 in-person meetings). This compares to independent RIAs who want less than 8 interactions per year (2.2 in-person meetings).
• Once a firm gets into the coveted top three spot, maintaining that position is paramount. Nine annual touches from the wholesaler team works as a benchmark. It will evolve as the sales team deepens their relationships. The breakdown of interactions will also progress based on the individual advisor.

Optimal Number of Interactions per Year with Top Three Wholesalers

Source: FUSE Research Network, WealthManagement.com