is sending its wholesalers far afield to forge better relationships with advisors.
Twenty regional sales managers will be dispatched into the field from Abbett's Jersey City headquarters.
The effort will be led by Mike Brooks
, a partner at the private wealth group – banks and independents West, and Tom Malone
, his counterpart in the East. The two will also retain the duties of their original roles, and will continue to report to Bob Noelke,
a partner with the private wealth group.
“We believe putting these sales professionals in the field increases our ability to address the specific needs of the bank and independent advisor and partner with these advisors to build lasting relationships," Noelke said.
The 20 regional managers will join the 50 regional managers who are already out covering the field for Lord Abbett. They are supported by 45 internal wholesalers.
Company Press Release
Lord, Abbett & Co. LLC (“Lord Abbett”), an independent, privately held investment management firm, announced an expanded effort to serve the needs of the banking and independent broker/dealer channels.
Specifically, Lord Abbett has dedicated more than 20 Regional Managers and sales professionals to targeted regions across the United States where these key markets can best be served. In addition, Lord Abbett announced the appointment of two Partners to lead the firm’s outreach efforts to these distribution channels: Mike Brooks, a Partner, Private Wealth Group – Banks and Independents West, and Tom Malone, a Partner, Private Wealth Group – Banks and Independents East.
In addition to their new responsibilities, Brooks will maintain a cross-channel leadership role, including key national relationships and Malone will continue to lead the firm’s internal sales consultant team. Both will continue to report to Bob Noelke, a Partner, Private Wealth Group, responsible for Lord Abbett’s national retail sales team. Pat Browne, a Partner, Private Wealth Group – Wirehouse and Regional East, and Jarrod Sohosky, a Partner, Private Wealth Group – Wirehouse and Regional West, will increase their geographic responsibilities for the wirehouses, national and regional firms and will continue to report to Noelke.
Noelke commented: “We believe putting these sales professionals in the field increases our ability to address the specific needs of the bank and independent advisor and partner with these advisors to build lasting relationships.”
Over the past four years, Lord Abbett has been partnering with a targeted group of bank and independent broker/dealers to address their needs. By restructuring its national sales efforts, the firm hopes to enhance its direct services to these advisors.
Noelke further commented: “Lord Abbett has a long heritage of acting as an advisor to the advisor. This structure enhances our ability to deliver value-added services to this important and growing segment of the market.”
The 20 Regional Managers dedicated to the bank and independent channels join more than 50 other Regional Managers nationwide who are already covering wirehouses, national and regional firms. These field teams are supported by 45 internal sales consultants.
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