Internal desks of the major asset management distribution organizations perform many valuable functions. From acting in a mainly administrative role to jointly growing a territory with an external partner, success stories abound.  However, due to cost constraints and mixed results, distribution organizations have tried to stretch internal resources to serve many masters.

Depending on the talent deployed on internal desks, some reach their ceiling of complexity sooner than others. What's needed is greater focus and attention on the Internal‘s role; how they are sourced, trained, managed, partnered and deployed against producing advisors.

In our experience this investment of time and resources generally pay off with the right strategy and commitment:

• Optimum: One-to-one Internal to External relationship.
• Obvious and visible commitment from management to grow and leverage the internal role.
• High External Wholesaler acceptance AND respect for Internal role.
• Both groups trained on same sales content.
• Sales process validated and installed with clear roles and inflection points for Internals and Externals (driven by the voice of the FA).
• High CRM utilization– reduced time spent chasing advisors.
• Management of both groups in sync (if not, act as one in the same).

Other Success Factors:

Distractions are minimized. The organization knows the Internal’s job and lets them do it. Sales managers provide stretch assignments and drive accountability across both groups and finger pointing is not tolerated. We also see success when top advisor segment relationships are jointly owned among Externals and Internals with select opportunities for in-person meetings provided for Internals.

The leading asset managers also give Internals prominent roles at sales meetings; they’re given special assignments and presentation opportunities where they’re allowed to act as thought leaders.