EXCERPT FROM ARTICLE, Apollo's New Wholesaler Team Aims to Tackle RIAs, by Tom Stabile
“If they are able to pull this off, it could be a plus for Apollo,” says Bruce Frumerman, CEO of Frumerman & Nemeth, a communications and sales marketing consultant. “There isn’t anybody [among wholesalers to RIAs] who’s doing a good job explaining [alternatives] properly.”…Apollo’s success will depend greatly on its ability to train the wholesalers to educate advisors about alternatives, Frumerman says.
“It’s a tremendous opportunity for Apollo if they put in the time and effort,” he says. “It has to be more than just simple training. They have to learn what more sophisticated investors will require and help advisors talk to their less sophisticated clients about alternatives.”… RIAs have a high bar for their relationships with wholesalers, Frumerman says. “A product that goes wrong could impact their whole business,” he says. “But boy will independent RIAs be loyal and sticky if these wholesalers take the time to explain how the strategy runs and properly prepare their clients for it.”# # #