hopes to bring on board its first ever external wholesaler by the beginning
of next year and plans to bring additional salespeople down the road, The MFWire
has learned. The Palo Alto, California-based firm kicked off its
this week, said Judy Haber
, director of marketing.
The company is flexible with the wholesaler's location. During the first year, the wholesaler will focus on fee-based advisors, Haber said.
Merk has historically focused its efforts primarily on the retail space.
The firm has gone after the advisor space to some degree. "Now, we're making a more concerted effort to pursue the advisor/institutional marketplace," Haber said.
The search comes on the heels of the September launch of Merk's third no-load fund, Merk Absolute Return Currency Fund
. Merk's funds are available on platforms including Schwab, TD Ameritrade, Fidelity, Vanguard and Pershing.
"We think the Absolute Return Currency Fund is very much of interest to more institutional-oriented investors," Haber said.
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