June 18, 1993
TO: BOARD OF GOVERNORS NO. 54-93
BROKER/DEALER ASSOCIATE MEMBERS NO. 15-93
DIRECT MARKETING COMMITTEE NO. 34-93
INDUSTRY STATISTICS COMMITTEE NO. 9-93
MEMBERS - ONE PER COMPLEX NO. 45-93
PUBLIC INFORMATION COMMITTEE NO. 36-93
RESEARCH COMMITTEE NO. 20-93
SALES FORCE MARKETING COMMITTEE NO. 34-93
SHAREHOLDER COMMUNICATIONS COMMITTEE NO. 29-93
SMALL FUNDS COMMITTEE NO. 14-93
RE: Broker/Dealer Study Report
__________________________________________________________
I enclose a copy of the most recent publication from the Research Department,
Distributing Mutual Funds Through Broker-Dealers: The Needs and Preferences of
Wirehouse Brokers, Regional Brokers, and Financial Planners.
This report presents the results of a mail survey of nearly 16,000 brokers from
major wirehouses, regional and independent firms. A small number of wirehouse
and regional branch managers were also sampled. It provides a comprehensive view
of the attitudes and needs of broker dealers when selecting mutual funds. It
highlights:
$ broker's business profiles and mutual fund usage
patterns,
$ motivations for brokers' use of managed products in general
and specifically mutual funds,
$ the important considerations when brokers select a
specific fund,
$ brokers' preferences for different sales charge plans,
and
$ the importance of certain factors when brokers e v a l u a t e
mutual fund investment performance.
For comments or questions about this report please contact Kathy Rabon-Summers
at (202) 955-3562. For additional copies call Ada Hayes at (202) 955-3581.
Jacob S. Dreyer
Vice President and
Chief Economist