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How does a mutual fund reverse poor sales of its portfolios?

people working at a large whiteboardChallenge: Our client was the mutual fund management division of a major bank. They had met with success selling a specific portfolio type through internal channels, but not through third-party financial advisors.

Previous research had not identified a solution.

Approach: We conducted in-depth interviews with successful internal advisors and sales managers to understand where success was coming from. Then we collaborated with the client to create a series of concepts isolating individual benefits.

An online discussion forum was used to obtain detailed feedback from a national sample of third-party financial advisors.

Outcome: The client has a clear path to market this product successfully: messaging, barriers, and training approaches. We were able to identify inflexion points in terms of advisor experience levels that will assist them in crafting the right messages.