GE Private Asset Management
(GEPAM) is pushing aggressively building its separately managed account business by partnering with regional broker-dealers. Bethann Roberts
, chairperson and CEO of GEPAM, said that she expects the firm to announce a number of joint marketing deals by year-end 2002 and the first quarter of 2003.
The deals would be similar to the recently announced joint marketing partnership GEPAM formed with Walnut Street Securities
this week. In that partnership, the asset management arm of giant will offer its products to fee-based advisors working with the St. Louis-based broker-dealer.
Walnut Street designed the offering to accelerate the growth of fee-based advisory services among its affiliated advisors. Reps will be able to use GEPAM's separate account platform under the arrangement. The broker-dealer is holding a series of regional meetings, email campaigns, web-seminars and one-on-one consultations to educate reps about the GEPAM offering.
Roberts explained that he expects the risk management tools built into the GEPAM portfolios to attract advisors. "We have a unique approach to protecting portfolios on the downside while positioning investors to benefit from market appreciation. It's an approach that has been quite effective in recent years, and it's getting a lot of attention," she added.
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