What is Third Party Marketing?
Third Party Marketing provides a unique, yet important service to the investment community by representing products that would normally be unavailable to a wide array of potential investors. Beneficiaries of third party marketing are typically Investment Managers and subsequently their potential investors. These managers are often faced with the challenges of both running a business and also with selling and marketing the services of the business.
When Investment Managers juggle these differing demands on their time, they often must resort to hiring inexperienced and expensive sales representatives so that the Investment Manager can appropriately govern the day-to day operations associated with the investment side of the business. This not only increases overhead, but also creates a lengthy lead time during which the new sales representatives must be trained and managed.
Third Party Marketing alleviates this problem by introducing the Investment Manager to specialized and knowledgeable third party marketers who are experienced, industry experts that can create tailored marketing strategies for the Investment Manager. Often, they are able to open up new distribution avenues that may have been inaccessible to the Investment Manager previously, and they can access a universe of new potential investors.
Patrick Capital Markets can provide introductions to funds seeking new marketing representatives, and to other third party marketers seeking to grow their practice through affiliation.
To better position ourselves within this niche market, Patrick Capital Markets has partnered with the Third Party Marketers Association or 3PM. 3PM’s goal is to cultivate relationships and business opportunities among its members, and provide them with information and on-going education about this niche industry. Additionally, 3PM aims to enhance its profession’s standards, integrity and business practices.* Please, feel free to watch this video that introduces Third Party Marketing.
* “About.” Third Party Marketers Association. Web. 9 Aug 2012. <http://3pm.org/about.html>.