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Thursday, January 21, 2010

ALPS Realigns Its Sales Force

Reported by Patricia Kelly

ALPS Advisors, the Denver-based investment firm, has been up to more than just adopting funds lately. Over the past six months, the company has been busy reconfiguring its sales force, Tom Carter, president of ALPS Distributors told The MFWire in an interview on Wednesday.

Tom Carter
ALPS Fund Distributors
Without shedding a single job, the 11-person sales team now includes three individuals who focus exclusively on RIAs and eight salespeople devoted to region-based coverage of the wirehouse channel. As part of the six-month realignment, ALPS reduced its number of wirehouse territories. Previously, the sales team was not organized along individual channel lines.

The shift reflects, in part, anticipated sustained growth in the RIA realm and ALPS' efforts to actively distribute its current roster of funds, while moving forward with plans for future fund adoptions and launches.

“We think that registered investment advisers are a group that are adopting exchange-traded funds to a large extent so we felt that we should have some RIA-dedicated people with experience in that channel to address our different sales needs,” explained Carter.

Stay tuned for news on ALPS' future fund adoptions, open-end fund and ETF launches in the months ahead. 

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