AIM Management Group
is streamlining its distribution group in a move that will affect a few score employees in its Fund Management Company
(FMC) in Houston. FMC is one of two broker-dealers at AIM. The firm says the moves are designed to eliminate the redundancies in marketing AIM's products and services between FMC and AIM Distributors
, the second broker-dealer.
To streamline its marketing the firm is transferring the bulk of FMC's 50 employees to the institutional marketing group of AIM Distributors. The effected employees work in both marketing and support in the retirement plans marketing and servicing business of FMC, said a spokesperson. The changes went into effect Friday, September 1.
Meanwhile, FMC shifted its marketing focus to growing its cash management business with institutional financial intermediaries. The firm manages approximately $50 billion in institutional money market assets and claims that they are an integral part of its overall success.
"AIM is regarded as a top-tier provider of products for retirement plans and cash management,'' said Robert H. Graham
, AIM's president and chief executive officer. "These moves will enable us to build upon strong existing client relationships and better facilitate the creation of new business while utilizing AIM personnel in a more efficient manner."
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