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Five Important Wholesaler Takeaways From The 2023 Cerulli Distribution Study

Our friends at Cerulli have just released their report U.S. Intermediary Distribution 2023 Seeking Differentiation Through Digital Engagement.

This comprehensive 174 page report delves into a ton of data that distribution leaders and decision makers will find extraordinarily useful.

And our wholesaler readers should find the following of keen interest:

Over half (55%) of advisors find new client acquisition to be a challenge.

Wholesaler Masterminds’ take: Your ability to engage an advisor in successful strategies to acquire new households and increase assets will be viewed as a net positive by 1 out of 2 advisors you see.

Come to every meeting prepared to meet this need.

More than three-fourths of wholesalers (79%) believe that technical expertise is becoming more important for success as advisors seek product education.

Wholesaler Masterminds’ take: The importance of you seeking out professional credentials to add to your skill set has never been more important.

After +15-years of service to our wholesaling community, I've now retired - and I’m committed to keeping all our resources available for future generations of wholesalers and their leaders – but only as long as it makes fiscal sense.

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Our Zelle address is: shorespeak@gmail.com or use the QR codes.

THANK YOU!

Rob Shore
Founder

82% of wholesalers know it takes between 3 months and 9 months to get the first piece of business from a financial advisor.

Wholesaler Masterminds’ take: Stop beating yourself up for not getting a ticket on the first visit – and make sure your follow-up process is sound.

Emails are the least meaningful conversation type to advisors with only a 15% success rate.

Wholesaler Masterminds’ take: Why? We believe that:

  1. Blast emails sent from your firm are, generally, garbage. They are deleted on site.
  2. Most wholesalers have not taken the time to learn how to write emails that get opened and read.

The majority (90%) of advisors find that hearing best practices utilized by other advisors is at least somewhat valuable.

Wholesaler Masterminds’ take: If you are not honing an advisor best practices skillset to use in your meetings with clients, prospects, and COIs you are missing a huge, glaring opportunity.

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