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Rating:Fido Beefs Up RIA Sales Not Rated 3.3 Email Routing List Email & Route  Print Print
Tuesday, June 26, 2007

Fido Beefs Up RIA Sales

News summary by MFWire's editors

Jylanne Dunne, executive vice president for Global Business Development of Fund Services for Bisys, has moved on. Fidelity has chosen her as the newest senior vice president of sales for its registered investment advisor group. Nine others have joined the Boston-based fund giant's RIA sales team: Angelo Aloisio, Hazel Durand, David Herlihy, Relura Horton, Scott Lawton, Ruth Mulligan, James Olmore, Allen Rea and Patrick Richardson.
BOSTON, June 26, 2007 -- As part of its continuing effort to grow its business and provide clients with the highest levels of service quality, Fidelity Investments today announced it has significantly expanded the sales and relationship management teams for its Registered Investment Advisor Group with the appointment of 10 professionals, including Jylanne Dunne as senior vice president of Sales.

In addition to Dunne, Fidelity hired nine new professionals to its relationship management team, including Angelo Aloisio, Hazel Durand, David Herlihy, Relura Horton, Scott Lawton, Ruth Mulligan, James Olmore, Allen Rea and Patrick Richardson. Fidelity's relationship managers work consultatively with clients to develop strategic business plans that can help them drive growth.

With the appointments, Fidelity now has dedicated teams of nearly 125 sales and relationship management professionals who focus on expanding the company's client base of 3,700 RIA, bank trust and third-party administrator firm clients as well as helping existing clients more effectively grow their businesses. The combined sales and relationship management team has grown by approximately 25 percent since 2005.

"Fidelity has a longstanding commitment of aligning our people and resources together to provide advisors with the highest levels of service quality, while also anticipating their strategic needs," Jim Dario, executive vice president of Relationship Management, Fidelity Registered Investment Advisor Group. "Jylanne is a significant addition to our sales team, and we are looking forward to her helping us continue to build upon the tremendous sales momentum we have achieved over the past few years." Fidelity's Registered Investment Advisor Group attracted more than $40 billion in net new assets in 2006 and another $20 billion in the first quarter of 2007, a 144 percent year-over-year increase.

In this new position, Dunne will help to further Fidelity's sales efforts among RIAs who specialize in investment management by demonstrating the value of establishing a strategic relationship with the company. Prior to joining Fidelity, Dunne was executive vice president for Global Business Development of Fund Services for BYSIS Corporation.

Fidelity Appoints Nine Relationship Managers

Fidelity has added nine relationship managers to help support the growing needs of its RIA, bank trust and third-party administrator clients.
  • Angelo Aloisio joins as vice president responsible for servicing the needs of wealth manager RIA clients in Northern California and the Pacific Northwest.
  • Hazel Durand joins as regional vice president responsible for servicing the needs of wealth manager RIA clients in the Eastern Region.
  • David Herlihy joins as vice president and senior relationship manager where he will focus on serving the needs of Fidelity's bank trust clients.
  • Relura Horton joins as vice president responsible for working with wealth manager RIA clients in Northern California and the Pacific Northwest.
  • Scott Lawton joins as vice president responsible for servicing the needs of wealth manager RIA clients in South Central states.
  • Ruth Mulligan joins as vice president responsible for servicing the needs of investment manager RIA clients in New York and New Jersey.
  • James Olmore joins as vice president responsible for servicing the needs of wealth manager RIA clients in Southern California and the Southwest.
  • Allen Rea joins as vice president responsible for servicing the needs of wealth manager RIA clients in Southern California and the Southwest.
  • Patrick Richardson joins as vice president responsible for working with wealth manager RIA clients in the Mid-Atlantic Region.

    "We recognize that business growth is the No. 1 priority for many advisors and they are looking to their custodian to deliver business planning support to help them manage this growth," said Dario. "These appointments demonstrate our commitment to building a skilled team of professionals who understand the unique needs of our clients and can deliver the business planning and practice management support they need to drive scale and efficiency, keep them at the forefront of the industry and better serve their clients."

    About Fidelity Registered Investment Advisor Group

    Fidelity is a leading provider of wealth management, custody and brokerage services to financial intermediaries. The company custodies more than $260 billion in assets on behalf of approximately 3,700 RIA, bank trust and TPA firm clients, as of March 31, 2007. Fidelity provides access to a flexible, open technology environment, extensive practice management resources, and wealth management investments and services -- all backed by the long-term commitment of a private company. Dedicated relationship professionals work consultatively to help clients choose the products and services that are in the best interests of their clients and make the most sense for their business. For more information about Fidelity's services, please visit http://ria.fidelity.com.

    About Fidelity Investments

    Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $3.2 trillion, including managed assets of $1.5 trillion as of May 31, 2007. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 23 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.  

    Edited by: Neil Anderson, Managing Editor


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