As competition for capturing the exchange traded fund (ETF) marketplace heats up, producers are getting aggressive when pitching their product. A move to up ETF sales by State Street Global Advisors was splitting its sales team into two units- one will deal with broker-dealer firms, the other will focus with wealth managers, banks, hedge and mutual fund managers, registered investment advisers and family offices. David Hoffman of InvestmentNews reports financial advisers fear SSgA will push their product more aggressively, which is an unwelcome trend. However, an insider at SSgA states the segment was meant to focus more on the needs of the customers. Other insiders feel this is a response to the number of ETFs available and is great for deciphering and explaining. Regional conferences and "webinars" are also useful when it comes to educating advisers about ETFs.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.