Waddell & Reed (Overland Park, Kansas) has tapped Andrew Thinnes III as managing director of third-party distribution. In his newly created position he reports to Thomas W. Butch, senior vice president and chief marketing officer.

The move comes in the wake of Waddell & Reed's decision to broaden its distribution beyond its captive sales force to include third-party distributors and to rename its funds to clarify those channels. Other additions to the third-party distribution team include: James M. Stilwell who will act as national director, Registered Investment Advisor Group, and William K. Hurley, Jr., who will handle the retirement market as national director, Retirement Plans Group.

"We believe that Andrew's strong background and skills make him exceptionally well-suited to lead our third-party distribution efforts," said Butch. "He has a long track record of successfully building relationships and gathering assets in the channels we are most directly targeting, particularly the retirement and wrap markets."

Thinnes, 40, held a variety of positions with Strong Capital Management before joining Waddell & Reed, most recently as senior vice president of investment management sales and relationship management for the institutional client services division.

Stilwell, 58, has more than 15 years of experience in sales management and wholesaling of mutual funds. Most recently, he was national director, registered investment advisor division, for the Conseco Fund Group. He also served as western regional sales manager of the registered investment advisor division of Morgan Stanley/Van Kampen Funds.

Hurley, 36, most recently held the position of vice president, American Express Retirement Services. Prior to that position, he served as a vice president for Cigna Retirement & Investment Services and as an employee benefit consultant for Johnson & Higgins.  

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