The Noah Fund is looking to hire a second wholesaler to reach into the West Coast. William L. Van Alen, Jr., president and chairman of the Newton Square, Pennsylvania-based fund advisor told the MFWire.com that he is now in the process of making the hire and should have someone on board within the next six months.

Two months ago the firm hired Robert A. Gualtieri as its vice president of Marketing to handle broker-dealer relationships nationwide. When the second wholesaler is hired, Gualtieri will handle just the East Coast. The $9.8 million fund added a load structure last May after discovering that most investors prefer to work through an advisor rather than go directly to a fund firm.

One of Gualtieri's initial tasks is to expand the reach of the fund by negotiating selling agreements with additional broker-dealers. Today he says the fund has selling agreements with about 25 BDs.

Gualtieri had been a registered rep since the early 1980s and for the past decade had been selling an active money management program for RTE Asset Management, Inc., a registered investment advisor in Rydal, Pennsylvania.

He says that he left the RIA after learning about the Noah Fund when he researched investments for clients. Noah is an ethically-screened fund based on Biblical principals that avoids stocks in companies involved in gambling, pornography, abortion, liquor and alcohol and tobacco. Geewax, Tercker & Co. of Chadds Ford, Pennsylvania subadvises the fund and Citco-Quaker Fund Distributors of Valley Forge acts as the distributor.

"I am a believer and have a philosophy that is not opposed to most of the areas that are screened from Noah funds," explained Gualtieri. "I was doing some research for clients and found out about the fund and invested in it. We are of like minds as far as ideals were concerned," he noted. He added that it was an ideal opportunity to combine work goals with life goals.

Van Alen noted that the firm would be a fit with another wholesaler who shares those values. He also is looking for someone with experience in the fund industry or who is able to wholesale mutual funds to broker-dealers. Finally, he is looking for someone already on the West Coast rather than a candidate who wishes to relocate.  

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