Who are the favorite fund wholesalers of RIAs and advisors? A survey of 206 RIAs and 1,410 advisors conducted by Cogent found that Dimensional Fund Advisors (DFA), PIMCO, BlackRock and Franklin Templeton topped the list, according to a report in RIABiz.
DFA and PIMCO were standouts regarding positive opinion, according to Cogent; nearly 60% of the RIAs who saw a DFA wholesaler said the wholesaler made it more likely that they would invest in the future. John Meunier, managing director of Cogent Reports, told RIABiz that DFA targets its efforts, which helps fuel its program’s success. And while RIAs often have a bad opinion of wholesalers, Meunier said, the ones Cogent surveyed “love and respect” PIMCO.
RIAs were most likely to have an in-person meeting with DFA; 13% of the RIAs, and 22% of RIA firms that managed $100 million or more, told Cogent they had such a meeting with the company. But PIMCO was close behind, at 12% overall and 18% of those managing at least $100 million having face time with the firm. Vanguard and Fidelity Investments reached out in that manner with 8% of the RIAs Cogent studied.
