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Rating:USAA Embarks on a Third-Party Distribution Push Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 25, 2011

USAA Embarks on a Third-Party Distribution Push

Reported by Armie Margaret Lee

USAA Investment Management [see profile] plans to assemble a team devoted to third-party distribution.

Dan McNamara
USAA Investment Management and Financial Planning
President
Dan McNamara, president of the San Antonio-based firm, said he is looking to initially hire six to eight people, including the head of the third-party distribution group. The head of the group will report to Brooks Englehart, who runs product management.

McNamara hopes to have a third-party distribution in place by the middle of next year.

Explaining USAA Investment Management's distribution roadmap, McNamara said the first priority is getting on supermarkets. The asset manager is on E*Trade, Fidelity FundsNetwork and TD Ameritrade, among others. USAA also wants to access the RIA market, the institutional space and wirehouses.

The third-party distribution push comes as USAA is taking steps to raise its brand profile. Last year, the parent organization started a national media campaign to increase awareness of the USAA brand via TV, online and radio ads. A few months ago, USAA rolled out ads that specifically spotlight its investment management capabilities.

USAA's mutual funds are available to the public, not just its membership base that consists of members and veterans of the military and their families. 

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