Munder Capital Management
has already seen efficiencies result from the reorganization of three separate wholesaling departments into one. The firm has also focused its national accounts with some internal shifts.
"We're focusing our efforts on developing and strengthening the relationships of our preferred distribution networks," said Maureen Bromwell
, director of national accounts and mutual fund services. Bromwell had headed the registered investment advisor (RIA) marketing effort. Amy Tapper
, who had been a wholesaler in the RIA channel, joined Bromwell in the department in the beginning of the year.
The consolidation, which began in January, relies on a consultative selling approach that gives wholesalers additional expertise to service more sales channels, while shrinking the geographic territory that each wholesaler is responsible for. The distribution model, adopted by many firms, relies upon communication and servicing efficiencies conferred by the smaller territories.
While it's too soon to see if significant, quantitative savings will result, the ancillary benefits of fewer people traveling are obvious. "People and portfolios can be updated more frequently," said Bromwell. "It's a lot easier to schedule meetings when people are in the same office buildings."
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