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Friday, January 15, 2010

Turner Eyes More Wholesalers

Reported by Patricia Kelly

Gary Ross, head of the private client group and one of the newly minted principals at Turner Investment Partners, told The MFWire he plans to add five external and two internal wholesalers to his team this year.

“Our goal for 2009 by year-end was to have ten salespeople in place with five internal [wholesalers] and we accomplished that," Ross said in an interview. "We've been raising assets and seeing sizable flows and so hopefully we'll embark on more hiring in the third or fourth quarter of the year."

Last August, Turner hired three internal and four external wholesalers and it late October, it added five more external wholesalers, at which point Ross told the MFWire that the company had plans to expand the number of wholesalers in its private client group from 17 to 25 over the next 12 to 18 months.

In addition to Ross, Turner's private client group currently has ten external salespeople and five internal, with one individual in a strategy-oriented role, Ross confirmed. Just yesterday, Ross – who joined in April 2009 – and ten other Turner employees were made equity-owning principles in the firm.

“Future hiring is going to be need-based and take geography into consideration but we've targeted five external sales spots for this year and will bring on two additional internals. Right now it's about execution, we're starting to see flows increase that's the direction we're heading in,” Ross said. 

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