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management - Towers Perrin

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Best Practice<br />

5<br />

Business partnering — internal and<br />

external — is a core skill for the distribution organization<br />

■ External partners can improve the firm’s value proposition<br />

These are not traditional outsourcing<br />

relationships — they are strategic partnerships<br />

© Copyright 2000 <strong>Towers</strong> <strong>Perrin</strong>. All rights reserved.<br />

■ Distribution relationships — KeyCorp, First Union<br />

■ FA network<br />

■ Washington Mutual — annuities/insurance products<br />

■ JP Morgan — IPO product<br />

■ Stock trading network — Schwab and others<br />

■ Merrill Lynch/Lehman — research<br />

■ Schwab — mutual funds distribution<br />

■ Internet site — Fingerhut/Books-A-Million<br />

■ Extraordinarily strong vendor relationships to manage<br />

inventory turn and financing costs

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