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Austen Robilliard, Interim Chief Executive of IWP Investment Management, sits down for a Q&A with Fundpath to discuss how the relationship between fund selectors and asset managers is evolving, and how Fundpath is driving that evolution.
In this interview, Austen reflects on why relevance now trumps reach, how consolidation is reshaping engagement, and what “good” looks like in an era where every conversation has to count.
A Shifting Landscape
Q: Are you seeing a shift in how wealth managers engage with fund providers?
Austen: Yes, consolidation is having a huge impact. Fund providers have got fewer clients, but they’re larger and more complex. That makes the stakes higher, and fund selection is moving more central, with less regional influence. Fund selectors are also expected to be more rigorous, and that changes how we work with asset managers.
Q: What key trends are shaping the wealth management industry right now?
Austen: Consolidation is the biggest one. With fewer but bigger clients, everything has to scale: processes, relationships, due diligence. The margin for error is shrinking, which means fund selectors have to be sharper and more professional than ever.
Q: How do you see the role of fund selectors evolving over the next five years?
Austen: We’ll become more influential but also more stretched. The role is getting more strategic: more responsibility, more oversight. And with client bases consolidating, each decision carries more weight.
Finding Relevance Through Fundpath
Q: How is Fundpath useful to the wealth and asset management community?
Austen: The standout benefit is relevance. I’ve never had anyone contact me about something I didn’t ask them to. Historically, outreach from fund sellers was often random and misaligned. Now, it’s becoming more targeted and efficient.
Q: Have you personally benefited from using Fundpath? What was it like before?
Austen: It’s made things easier for sure. The volume of approaches hasn’t necessarily changed, but the relevance has. Fundpath helps weed out the noise. Before, I’d be fielding calls and emails that clearly weren’t of interest. Now, conversations are more aligned with what I actually care about.
You don’t sell a fund. You service a relationship. That means giving me the right information at the right time, not just pushing a product.”
What Good Engagement Looks Like
Q: What makes a sales approach from an asset manager effective vs. frustrating?
Austen: You don’t sell a fund. You service a relationship. That means giving me the right information at the right time, not just pushing a product. The frustrating approaches are the ones that show no understanding of my world – people who contact too often, with no clear purpose and just trying to flog whatever they’ve been told to peddle.
Q: What does good look like in terms of engagement?
Austen: A good business development manager knows how to get the balance right. Two meetings a year works well for me as standard, but more often depending on the holding size. Sales reps, don’t overdo it. I’m time-pressured. It’s often six months between meetings, and that’s okay, there are other informal catch ups and industry events as well, so we’re never really out of contact for that long. Typically the first meeting usually lasts 90 minutes with me, because that’s when you invest time for them to understand my business and explaining our approach. After that, it’s about keeping things targeted and useful.
Building Relationships, Beyond the Fund
Q: How can asset managers improve their engagement with fund selectors?
Austen: Respect the fund selector’s time. Do your homework. And be prepared to invest in the relationship rather than just chase a transaction. You’re not trying to close a sale. You’re building a foundation.
Q: What are the biggest misconceptions asset managers have about fund selection?
Austen: That it’s all about the fund. It’s not. Our job is to kiss frogs – to sift through the noise and find what really fits our own approaches. We’re not here to say yes to everything. It’s about context, timing, and relevance. Each fund is chosen to play a specific role in the overall portfolio and asset managers don’t always appreciate that.
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