- The number of Product Specialists and Client PMs used in the sales process has been trending gently upward over time as asset managers are increasingly recognizing their value. In 2021, the average number of these types of specialists was 7.2, up from 6.7 in 2018, based on a FUSE survey.
- Among surveyed asset managers, 60% say they frequently use a Product Specialist during the sales process, and half frequently use a Client PM. Moreover, a significant 20% of managers report always using one of these specialists while almost no managers report rarely using them.
- However, the number of specialists working on separately managed accounts (SMAs) has been in decline, falling nearly 30% from an average of 2.8 in 2018 to 2.0 in 2021. This decline is partly due to the rising popularity of SMAs, which has decreased the need for SMA Specialists to explain the product to financial advisors.
Average Number of Specialists Per Manager, 2018-2021
Source: FUSE Sales Benchmarking Surveys, 2018-2021