A Red Bank, New Jersey-based money manager is planning to bring onboard more portfolio managers and employees with technological and sales expertise, mostly in 2018.

Privately held WBI Investments [profile] currently has 20 people on the sales side and will be adding more, WBI President Matt Schreiber, tells MFWire.

“We are always looking for more distribution, ” he says. The money manager currently has 60 employees, and by next year it “will have more of a substantial headcount addition” focusing on the PM, sales and technology teams, Schreiber adds.

Founded in 1984, WBI Investments launched its first mutual fund seven years ago and its first ETF three years ago. The mutual funds and ETFs now have around $1 billion in combined AUM and the firm has $1.9 billion in AUM.

Millington securities is the advisor to WBI's ETFs, which are mostly active and mainly focus on equity.

 

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