Fixed Income Sales Manager Roundtable

April 19, 2018

Minnesota, MN


Download Agenda (.pdf)


On Thursday, April 19th the BDA held its 2018 Sales Manager Roundtable at Dougherty & Company in Minneapolis, MN. Over 20 sales managers and fixed-income leaders from middle-market dealers attended and there was an active discussion of the biggest sales-related issues facing middle-market dealers in the fixed-income markets. The roundtable was followed by a networking dinner at the Butcher & the Boar.
The key issues discussed during the roundtable included: aging sales teams, recruiting talented and diverse sales people, training programs, changing trends in communication, and trends in sales technology. 
The event was sponsored by Dougherty & Company and the dinner was sponsored by Market Axess and deltaBlaze. Thanks very much to our sponsors for their support and contributions for this great event.  A full recap of the issues discussed can be found below.

Key Topics in Sales Management


Discussion Leaders: Alan Polsky and Jay Hiniker, Dougherty & Company 
  • Sales managers are facing many challenges in a rapidly changing sales environment, including increasing regulations and rising costs. What are firms doing to keep up with this changing environment?
Key Regulatory Issues Impacting the Salesforce
  • Mark-Up Disclosure: Some firms are requiring their sales team to watch MSRB's Muni Ed Pro course on mark-up disclosure.
  • FINRA Rule 4210: How are firms preparing for the June 25th implementation date? How are firms educating clients?
  • Rising Vendor Costs: CUIP fees, Rating Agencies, and Information and Data Mining are impacting the way business is done. Firms must look at the return on capital they receive before investing in additional vendor manages systems.

Developing and Retaining a Talented Sales Force


Discussion Leader: Steve Pulley, Crews & Assoc. and Demetri Patikas, Vining Sparks
  • Senior members of sales teams are closing in on retirement age. What are firms doing to ensure talent is well trained and ready to step into a more senior role? What is working and what improvements need to be made?
Replacing an Advanced Sales Team
  • Do you have fewer salesmen/women then you had a year ago?
  • Are firms engaging in training programs to prepare the next generation of salespeople?
  • To what extent have conversations surrounding diversity taken place at your firm? What action has been taken to hire diverse candidates?
  • Do your client base and sales personnel tend to resemble one another?

Technology and Sales:


Discussion Leader: Hedi Leonard, Lumesis
Institutional sales, a business built on high touch relationships is changing. Is technology ultimately going to replace the current business?

Leveraging Technology
  • How can firms improve management of the sales process?
  • Can technology improve the way a salesperson finds leads, track contacts, track successes, and increase follow-up?
Exploring the Shift in Communication Methods 
  • How do your customers prefer to communicate?
  • How has your firm adapted to add value?Important updates on how fixed income electronic trading is evolving and the implications on the sales process
Sales and Technology
  • Where does the go/no/go decision lie?

The Future of Electronic Trading


Discussion Leader: John Gallagher, MarketAxess
84% of investment grade investors utilize electronic trading, accounting for 20% of overall volume” - from the Greenwich Associates’ report” ‘Technology transforming a vast corporate bond market’ - Q4 2017
  • What is your experience with electronic trading?
  • The session focused on key business, market practice and regulatory issues, and your experience with electronic trading in the credit space.
Additional Information:
  • You can view a technology and sales presentation offered by deltaBlaze here.
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