Third party marketing is not a cookie-cutter industry. Each firm has its own unique blend of industry focus, asset class/product expertise, and geographic concentration.

Just as important, investment managers must find the one with whom partnering just “feels right.” This is vital because the relationship is very much a partnership, and not a typical vendor relationship.

Five questions any firm should ask itself before hiring a third party marketing firm are:

  1. Am I committed to growing my business and fully supporting the effort?
  2. Am I willing to spend equal time choosing a marketing firm as I do choosing an investment?
  3. Would I hire their salespeople for my own staff?
  4. Is their track record of success one I am comfortable with?
  5. Would I want them representing my strongest competitor?

An investment manager is entrusting a significant part of their future success with the third party marketer. So choose wisely.

Characteristics of a quality relationship

The best investment manager-marketer relationships always have the same three characteristics:

  1. It is a dedicated, professional effort;
  2. There are consistent principles, including defined goals, expectations, and accountability;
  3. Both parties make a realistic resource commitment to the effort.

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