How do you get clients in investing?
Whose job is it to get clients? How hard of a job is that? Also, I'm not sure if they're called clients, or what you would call them. Sorry if I'm not using the right terms for this. I just mean customers. #finance #financial-services #investment-management #investing
5 answers
Sara’s Answer
A’s Answer
You are right - client is the correct term! A customer usually buys goods or services, while a client is someone who engages the services of a professional. For example, lawyers, accountants, and financial advisors work for clients and get paid a fee in exchange for their services.
Investment management companies usually have a designated sales function for bringing in new clients and servicing existing ones. At PIMCO it is called the Account Management department and it is comprised of investment professionals who have a broad range of client responsibilities. These include: developing investment objectives, utilizing the firm’s analytics capabilities and macroeconomic forecasts, coordinating with portfolio managers to monitor portfolios, updating clients about global macroeconomic conditions and portfolio performance and attribution, outlining the firm’s current outlook and strategy, and educating clients about a broad set of investment strategies, products, and services.
Marija (Ojdrovic)’s Answer
Delwin’s Answer
Aljed:
Different firms have different approaches to generating new clients. Some have dedicated prospecting teams that identify potential clients and pass those leads on to the appropriate advisor. Others rely upon their advisors to bring in their own clients.
This is a great question to cover in your due diligence prior to an interview and then to confirm in your face to face discussions.
Regards,
DRH