With a pumped-up sales team and a more streamlined corporate focus, The Hartford
] is amping up its pitches to broker-dealers, according to InvestmentNews
The firm spent the first six months of the year transferring its fixed-income offerings to Wellington Management Co.
from its own in-house management at Hartford Investment Management Co.
, according to the story.
reporter Darla Mercado also notes that this year, The Hartford boosted its marketing ranks by adding 25 wholesalers, both internal and external, for a total of about 190.
“Many distributors are continuing to sell our mutual fund products with enthusiasm,” said chairman and chief executive Liam McGee
“We believe our relationships with broker-dealers and distribution partners are quite good,” he said. “We expect [mutual funds] to be a high-growth business for Hartford and our partner Wellington, as well.”
Mercado also cites Morningstar
analyst Katie Reichart
, who says that the Hartford has suffered roughly $7 billion in outflows year-to-date through Sept. 30.
To read more about the The Hartford's distribution makeover, turn to the InvestmentNews
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