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Outreach to Financial Reporters
MMI is conducting an aggressive media relations program to educate
financial reporters on managed accounts. At a time of
unprecedented market volatility, our information and availability
to assist reporters has gained our industry considerable positive
coverage and contributed to our industry's continued growth.
Whenever possible, we offer our members as sources for reporters,
thereby allowing our member firms to take advantage of the Institute's
ongoing media liaison efforts.
A Source of Industry Information
The Institute is developing a comprehensive database on the
managed account industry and serves as the definitive source
of information on both managers and sponsors. Financial
reporters regularly turn to MMI for information on the growing
popularity of managed accounts and the Institute has been a
noted reference in articles by Business Week, Barron's, Dow
Jones News Service, Gannett News Service (USA Today), Wall Street
Journal, New York Times and other publications.
Identifying Industry Trends and Best Practices
The Institute periodically conducts carefully focused surveys
of its members to gauge industry practices/trends and, in some
cases, to enable firms to benchmark themselves with other firms.
A survey of compensation practices for sales/marketing staff
examined correlation between compensation and asset growth/retention
as well as other variables. A similar survey collected data
analyzing costs and productivity of administrative support staff.
Reports are available for members only and members may propose
other research topics or request custom analysis of MMI survey
data. All data collected by MMI remains confidential and cannot
be sourced to any firm participating in a survey.
Uniting the Industry
The Institute has begun offering regular Internet Meetings for
its members on sales/marketing issues as well as on administration/operations
topics. These conference calls over the Internet bring
real time audio together with visual presentations, allowing
senior executives at our member firms to interact and share
their insights and concerns on a broad range of topics confronting
their businesses. The
Institute convenes an annual meeting in New York each spring
bringing together the industry's top management to address
key issues and hear from news-making speakers. At prior
years' meetings, some of our featured speakers included Federal
Reserve Board Governor Edward Gramlich, World Bank Chief Economist
Joseph Stiglitz, former U.S. Department Commerce Secretary
Pete Petersen, Thomson Financial Publishing's CEO Andrew Mills
and CBS News Chief Economics Correspondent Ray Brady. The
spring conference is by invitation only and regularly attracts
the managed account industry's most senior executives from money
manager firms and sponsor firms alike. Ms. Judy Rice, Vice President at
Prudential Investments and Mr. Peter Ciesko, Head of Retail
Asset Management at Citigroup Asset Management will co-chair the
2004 meeting. Mr. J.
Michael Havey of A.G. Edwards and Mr. Scott Sipple of
AllianceBernstein will co-chair the 2005 meeting.
MMI also sponsors the Money Managers' Roundtable, a group
of senior executives from money manager firms who address
key issues facing their business. Chaired by Jim Patrick,
Managing Director at PIMCO Advisors, the Roundtable is a convenient and informal (and
off the record) means for money managers to share information
with each other.
Helping New Entrants to our Industry
The Institute is committed to assisting those companies new
to managed accounts enter our business and do so successfully
by avoiding the problems experienced over the years by our more
accomplished members. MMI offers regional conferences bringing
very seasoned professionals to discuss the key issues our new
entrants must grapple within their business development plans.
These meetings have very interactive discussions between our
speakers and the audience and offer new entrants unique insight
and information.
Eliminate Burdensome Regulations
MMI succeeded in gaining regulatory approval from the SEC to
eliminate the obligation to send trade confirmations to investors
who do not want to receive them, thereby reducing operating
costs and removing a source of investor irritation. The Institute
provides liaison with regulatory agencies and, when needed,
with the Congress and serves as an expert resource while participating
in public policy discussions that may affect investors and our
members' businesses.
Solving Problems for the Industry
The Institute seeks to resolve long simmering operational problems
that prevent member firms from operating more efficiently and
reporting in AIMR compliant fashion. Additionally, AIMR
account records retention requirements are burdensome for money
managers and the Institute is examining new technologies in
order to resolve this problem.
Membership
Meetings
MMI holds member only meetings that provide an informal
opportunity to bring the industry's leaders together to exchange
ideas and share concerns on how to best grow the managed account
business and operate it more efficiently. To ensure real give
and take among the executives in our discussions, these meetings
are limited to two participants from each member firm.
The Institute is developing a comprehensive database on the
managed account industry and serves as the definitive source
of information on both managers and sponsors. Financial reporters
regularly turn to MMI for information on the growing popularity
of managed accounts and the Institute has been a noted reference
in many articles in leading financial and business publications. |
