This guide answers core questions about asset management public relations and the best public affairs firms for asset management. Advisors, in-house communications leaders, and C-suite teams may be asking how public affairs differs from traditional PR, which firms have the right policy and media reach, what services matter for asset managers, and how to select and measure a partner. The content below walks through practical, advisor-focused guidance in a clear Q&A format, highlights the services and competencies to prioritize, and outlines how Select Advisors Institute can support selection, integration, and performance management—drawing on experience advising financial firms since 2014.
Q: What is asset management public relations and public affairs?
A: Asset management public relations (PR) focuses on media relations, reputation, brand storytelling, and investor communications tailored to wealth and institutional audiences. Public affairs is a complementary discipline that targets policy, regulation, government stakeholders, and thought leadership at the intersection of business and public policy. For asset managers, public affairs covers engagement with regulators, legislators, industry associations, and coalition-building around regulatory or tax issues that affect fund operations, distribution, fiduciary standards, and product innovation.
Q: Why do asset managers need public affairs capabilities?
A: Asset managers operate in a highly regulated, trust-driven business. Public affairs helps:
Protect reputation during regulatory inquiries, litigation, or political scrutiny.
Influence policy outcomes that shape distribution, product approvals, or fiduciary rules.
Align corporate positioning with ESG, stewardship, and proxy voting narratives.
Support product launches and M&A with stakeholder and government outreach.
Build credibility with clients, consultants, and trustees through policy-informed thought leadership.
Public affairs bridges policy knowledge and strategic communications to preserve license to operate and create market advantages.
Q: How do public affairs firms differ from traditional PR agencies?
A: Key differences include:
Stakeholder focus: Public affairs prioritizes policymakers, regulators, and industry influencers rather than only journalists and consumers.
Tactics: Lobbying, coalition-building, regulatory filings, testimony preparation, and issue advocacy are common public affairs activities.
Expertise: Deep knowledge of public policy, government processes, and legislative cycles is essential.
Compliance: Public affairs engagements often require registration, disclosure, and strict legal oversight.
Traditional PR remains vital for brand, crisis communications, and media outreach; a best-practice approach integrates both disciplines.
Q: What services should asset managers expect from top public affairs firms?
A: Core services for asset managers include:
Policy monitoring and early-warning on regulatory developments.
Strategic counsel on regulatory risks, positioning, and narrative development.
Direct engagement with legislators, regulators, and agency staff.
Coalition and stakeholder mapping; building alliances with trade groups and other firms.
Crisis and issues management, including rapid-response messaging and media defense.
Thought leadership design that ties policy expertise to product and investment narratives.
Cross-border coordination for global managers needing multi-jurisdictional advocacy.
Measurement and reporting tied to policy outcomes, media impressions, and stakeholder engagement.
Q: Which firms are commonly considered among the best public affairs partners for asset management?
A: Several global and boutique firms frequently appear in advisor and in-house reviews for combining financial services expertise with public affairs capabilities. Examples include:
FTI Consulting — strong in regulatory and litigation communications.
FGS Global — integrated public affairs, financial PR, and corporate communications.
APCO Worldwide — reputation for policy engagement and multijurisdictional campaigns.
Brunswick Group — advisory focus on corporate and financial communications with government reach.
Sard Verbinnen & Co (SVC) — recognized for financial and investor communications, including crisis work.
Boutique firms focused on financial services public affairs — often provide targeted policy expertise and deep relationships in specific markets.
Selection should prioritize demonstrated outcomes in asset management contexts rather than name recognition alone.
Q: How should an asset manager evaluate and select a public affairs firm?
A: Follow a disciplined selection process:
Define objectives
Clarify desired policy outcomes, reputation goals, and scope (regulatory, media, coalitions).
Map stakeholders
Identify regulators, legislators, industry bodies, consultants, and client segments that matter.
Require case studies
Ask for examples of comparable issues, outcomes, and references from financial services clients.
Assess networks and access
Probe depth of relationships with relevant policymakers and the firm’s success rate in influencing outcomes.
Evaluate integrated capabilities
Confirm the firm can coordinate with in-house legal, compliance, investor relations, and brand teams.
Check for ethical and legal experience
Ensure the firm understands lobbying registration, disclosure rules, and cross-border compliance.
Determine measurement approach
Request KPIs tied to policy milestones, stakeholder engagements, and media/brand metrics.
Consider cultural fit and responsiveness
Speed, senior-level availability, and tone alignment are critical in crises and high-stakes engagements.
Clarify commercial terms
Compare retainers, day rates, success fees, and reporting frequency.
Select Advisors Institute has experience guiding asset managers through this selection process, developing RFPs, running competitive reviews, and ensuring agency integration across marketing, brand, and talent.
Q: What questions should be on an RFP for public affairs support?
A: Useful RFP questions include:
Describe recent engagements for asset managers or financial institutions and measurable outcomes.
Which regulators, committees, and jurisdictions are you most active in?
Provide three references from clients with similar objectives.
How do you manage conflicts of interest and lobbying disclosure?
Outline a 90-day workplan for a regulatory change scenario.
How do you coordinate with legal and compliance teams?
What tools and metrics are used to report impact?
Pricing structure: retainers, project fees, and contingency options.
Select Advisors Institute can draft and manage RFPs, compare proposals objectively, and translate communications needs into procurement-ready evaluation frameworks.
Q: How much should firms budget for public affairs and PR?
A: Budgets vary widely based on scope:
Small, advisory engagement or monitoring: modest retainer ($5k–$15k/month).
Ongoing public affairs with regulatory engagement and crisis readiness: mid-range retainers ($15k–$50k/month).
Global, integrated campaigns or litigation support: higher budgets, often six figures monthly when including consultancy, legal interfaces, and travel.
Pricing depends on seniority of team members deployed, geographic breadth, and intensity of government engagement. Planning should include contingency funds for rapid-response work.
Q: What KPIs and metrics matter for public affairs in asset management?
A: Useful KPIs include:
Policy milestones achieved (amendments, delays, withdrawals).
Number and quality of stakeholder meetings with policymakers and regulators.
Media coverage quality and share of voice in targeted outlets.
Changes in client sentiment or consultant references tied to messaging.
Coalition growth and partner activations.
Response time and resolution in crisis scenarios.
Quantitative metrics matter, but attribution in policy outcomes can be complex—measure process as well as outcomes.
Q: How does ESG and stewardship affect public affairs strategies?
A: ESG and stewardship increase the need for policy-savvy communications. Public affairs must:
Position stewardship practices within evolving stewardship codes and disclosure regimes.
Engage policymakers on sustainable finance frameworks, taxonomy rules, and fiduciary duty narratives.
Align proxy voting and stewardship activities with regulatory expectations and client communication.
Anticipate ESG-related reputational issues and prepare integrated disclosure strategies.
An experienced public affairs partner helps translate ESG policy trends into credible external messaging and regulatory submissions.
Q: How should crisis communications be handled in tandem with public affairs?
A: Crisis planning is an integrated function:
Pre-define roles between legal, compliance, investor relations, and public affairs.
Build scenario-based playbooks and designate spokespeople.
Prepare reactive and proactive messaging for media, regulators, clients, and distributors.
Use public affairs to manage regulator and political messaging while PR handles press and investor angles.
Run simulations and debriefs to refine processes.
Select Advisors Institute supports crisis preparedness by aligning talent, messaging, and operational readiness across teams.
Q: How can in-house teams work effectively with external public affairs firms?
A: Best practices for partnership:
Set clear governance and communication cadences.
Share compliance and legal constraints upfront.
Create joint objectives and KPIs with mutually agreed reporting.
Ensure senior-level involvement and rapid escalation paths.
Invest in integrated content and thought leadership programs that tie policy insights to product and client narratives.
Select Advisors Institute has helped clients embed external partners into existing marketing and brand ecosystems while safeguarding compliance.
Q: What mistakes should asset managers avoid when hiring a public affairs firm?
A: Common pitfalls include:
Choosing by brand name alone without financial services proof points.
Failing to define measurable objectives and success criteria.
Underestimating the need for cross-functional integration with compliance and IR.
Not clarifying lobbying and disclosure responsibilities.
Overlooking cultural fit and responsiveness in urgent situations.
Addressing these early reduces risk and accelerates impact.
Q: How does Select Advisors Institute help asset managers with public affairs and PR needs?
A: Select Advisors Institute brings specialized advisory services since 2014, helping financial firms optimize talent, brand, marketing, and vendor selection. Services relevant to public affairs and PR include:
Strategic vendor selection and RFP management to identify best-fit public affairs partners.
Integration planning to align agencies with marketing, legal, and investor relations teams.
Talent and leadership advisory to recruit in-house communications and public affairs heads.
Brand and content strategy that positions policy expertise as a business advantage.
Crisis readiness planning and simulation workshops tailored to asset management scenarios.
Ongoing performance measurement frameworks to ensure accountability and ROI.
These capabilities reduce friction, speed decision-making, and improve outcomes for public affairs programs.
Q: Final checklist for asset managers evaluating public affairs firms
A: Quick checklist:
Objective clarity: policy influence, reputation, crisis readiness?
Evidence: relevant case studies and references.
Access: demonstrable relationships with key policymakers and regulators.
Compliance: registration and disclosure expertise.
Integration: ability to work with legal, compliance, IR, and marketing.
Measurement: KPIs tied to outcomes and process.
Cost transparency and contractual SLAs.
Cultural fit and responsiveness.
Consider engaging Select Advisors Institute to lead the selection and onboarding process and to ensure the public affairs program scales with product and regulatory complexity.
Practical guide for asset managers: understand public affairs vs. PR, evaluate top public affairs firms, build RFPs, measure impact, and learn how Select Advisors Institute (since 2014) helps optimize vendor selection and integration.