In last week’s Reader Poll we asked, "Which factor is most important in the selection of the DCIOs with which you have a relationship?" Here are the results of the voting, ranked and expressed in percentages:
Breadth of investment solutions: 50%
Quality of the wholesalers: 45%
Provides leads: 5%
Is also a record keeper: 0%
Is already on your record keepers’ platforms: 0%
Brand name: 0%
Note that our poll permitted only one answer. Interestingly, answers to the same question from Boston Research Group’s 2013 DCP survey, which allowed multiple choices, differed:
Breadth of investment solutions: 63%
Quality of the wholesalers: 58%
Brand name: 49%
Is already on your record keepers’ platforms: 48%
Provides leads: 38%
Is also a record keeper: 12%
In addition to allowing multiple choices — compared with our “beauty contest” — the DCP sample size was far greater, and their results reflect rigid standards of statistical analysis. Nonetheless, it’s interesting that the two polls yielded the same top two factors in terms of what’s most important to advisors in selecting DCIOs. The question is, why don’t NAPA Net readers value brand name, DCIO affiliation with record keepers, or lead generation, more?
World’s Best Webinar Topic
We’re putting our Reader Poll on hiatus for a few weeks. Taking its place will be a voting tool that you can use to help select NAPA webinar topics that you want — not ones that we choose. Here’s how it works:
• The online tool presents two webinar ideas. You pick your favorite — or add your own idea for others to vote on.
• The process is then repeated, with two more ideas to choose from and another opportunity to suggest a better one. Every time you suggest an idea, it’s added to the pool of ideas that others vote on.
• You can vote as often has you'd like, and see which topics are in the lead.
If it sounds familiar, we used the same voting tool last summer to help shape the program at the 2014 NAPA 401(k) Summit in New Orleans in March.
Beware: This can be addictive. The voting process is fun and rapid-fire, but the concept and technology behind it are sophisticated and cutting-edge. Think of it as crowdsourcing made easy — thanks to an algorithm developed by a team at the Department of Sociology at Princeton that sorts and ranks the ideas. (For more on the technology, click here.)
To get started, look for the poll box in the right column of any page on NAPA Net; on a mobile device, just scroll down to find the box. The poll will run until sometime next month; we’ll let you know which ideas are in the lead as the “race” unfolds.
