Griffin Kelly

Tue, Jun 10, 2025, 3:05 AM2 min read

They do give a darn about their good reputations.

Vanguard, Goldman Sachs, Morgan Stanley and more, are among the asset managers held in the highest esteem by advisors, according to a recent survey from Fuse Research, and they have strong incentives to maintain that status.

Reputation is a critical differentiator for asset managers, particularly in a saturated market: It’s one of the top factors that advisors consider when crafting a financial strategy for clients, said Mike Evans, author of the report. At the foundation of an asset manager’s reputation is its products. If a company’s funds perform well and are cost effective, advisors will hold them in high regard. Relationships with sales teams and a firm’s marketing efforts, however, greatly influence advisors’ attitudes, too.

“Those are the three pillars that will create the overall perception for advisors,” Evans said.

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Sales people are the first line of contact for an asset manager, and the best ones can create long-lasting relationships with advisors through in-person meetings as well as regular emails and phone calls, Evans said. Additionally, an asset manager’s reputation is influenced by its thought leadership and marketing capabilities: Is the firm creating ads and putting out insightful information that speaks to advisors’ needs? For example, advisors ranked American Funds/Capital Group as one of the top firms for its robust email marketing, LinkedIn presence, and website content.

The Fuse report broke down asset managers’ reputation by firm size, specifically the AUMs of their ETF and mutual fund offerings:

• When it comes to mega firms (more than $200 billion in AUM), advisors said American Funds/Capital Group and Vanguard had the best reputations.

• For large firms (between $75 billion and $200 billion in AUM) the top distinctions went to First Trust and Goldman Sachs.

• And for mid-size firms (between $10 billion and $75 billion), advisors had a preference for Morgan Stanley and Russell. The former is one of the most recognized brands in finance, and the latter’s wholesalers team consistently wins good reviews, Evans said.

The asset management industry can get rather saturated with funds that have similar fees, strategies, and returns, Evans said, so marketing and customer service can be big differentiators. “Branding is certainly very important,” he said.

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