Primer on Institutional Investor Databases


If you are contemplating subscribing to an institutional investor database, then this is for you.

The concept behind a database is that it gives your sales people a list of contacts to call on across RIAs/MFOs/Family Offices and analysts at Banks, Broker Dealers, Consultants, Foundations, Endowments, Public and Corporate Pension Funds and Direct Pensions. 

The leaders in the database field are Prequin, Discovery Data, RIA Database, Money Market Directory and a hot new upstart called Draft Data (which Dakota created and produces).

It is obviously a good thing to have good data because you want to give your sales people prospects to call on. A good dataset of investors will save your sales people literally hundreds of hours of research and will allow them to focus on setting up meetings instead of doing research on who to call on.

We are an investment sales business having raised over $22 billion since 2006. We live the sales life every day. What’s most important to us is having a deep, accurate and up-to-date database. Our data has allowed us to scale much more rapidly because our sales team can spend more time setting up meetings and less time prospecting.

The key problem all sales people have with all the standard databases is that the information is either raw, meaning you don’t know if they use outside managers to create portfolios or if it’s inaccurate and not up-to-date. If that is the case, then you pay your sales people to do research, which is a complete waste of time and money.

So yes you should be using an institutional investor database, but you should only be using a database that 1) only has firms that use outside managers; and 2) the contact information is accurate and up-to-Date. The only one that we know of that meets that criteria is Draft Data and that’s possible only because our large sales team uses the data daily to set up meetings.

So while Prequin, Discovery Data, RIA Database and Money Market Directory are excellent databases, you still have to do a lot of work to find the right firms and the right people at those firms.