Mutual Fund Liaisons
Over the past 5 years, some mutual fund companies have been hiring liaisons who have money management experience and people skills to provide advisors more detailed information as to the workings of the fund.
According to Boston-based Financial Research, by the end of 2011, mutual fund sales by advisors will account for 60% of mutual fund inflows. Gross sales by advisors are expected to grow to $2.3 trillion by 2006, from $1.4 trillion in 2009.
At some firms, such as Franklin-Templeton, the liaison is called an “institutional portfolio manager;” at T. Rowe Price the person is called a “portfolio specialist.” These liaisons do not take the place of wholesalers. In most cases, the liaison shares space with fund money managers, not the sales team. At Franklin, a typical day for the liaison might be hosting an on-site visit at Franklin for financial advisors, a couple of conference calls and 1-2 meetings with research teams at a securities firm.