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Rating:FBR Bulks Up its Sales Team Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 11, 2011

FBR Bulks Up its Sales Team

Reported by Armie Margaret Lee

FBR Fund Advisers has expanded its external sales team. The Arlington, Virginia-based asset manager hired Dale Van Scoyk and Jay Pearson and Nory Gonzalez as advisor relationship managers.

Russell Parker
FBR Fund Advisers
Chief Marketing and Distribution Officer
The three started at FBR in mid-March and report to Russell Parker, chief marketing and distribution officer. Their addition raises the number of external wholesalers to six.

Van Scoyk, a former national sales manager at Thorburg Investment Management who more recently worked at Advanced Control Technologies, covers the Southeast territory, including Florida, Georgia, Alabama and South Carolina.

Pearson, most recently a regional consultant with Thornburg, is responsible for the Midwest, including Illionois, Minnesota, Indiana and Michigan. A Thornburg spokesperson said that Greg Supple moved from covering the firm's Ohio, Indianapolis, Kentucky and Michigan territories to take over West Central, Pearson's old turf.

Also, Kevin Dougherty was promoted from the firm's sales desk to take over Michigan and Indianapolis and Troy Mosconi joined the firm from Alliance Bernstein to cover Ohio and Kentucky,accroding to the spokesperson.

Gonzalez covers the New York market. Previously, she sold annuities for Genworth.

FBR has $1.7 billion of AUM across its 10 mutual funds.

"Our strategy is to continue to capitalize on the interest we've seen among distributors and advisors who are looking for proven downside protection, great risk-adjusted demonstration and the appeal of a boutique," Parker said in an interview. "Bigger is not necessarily better."

"I love to tell people we're the 14-year- old "new" company," he said.

FBR entered mutual fund business in 1997, starting out as a predominantly direct-sold shop. When Parker arrived at the firm three-and-a-half years ago, FBR began to actively reach out to advisors.

Parker said sales were 80 percent direct and 20 percent through intermediaries when he joined the company. Now, "we're at least 50-50 at this point," he said, adding that advisor-assisted sales will likely grow to 60 percent of total sales this year.

Parker said his next hire is "likely someone who will be a dedicated resource for institutions." 

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