MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, February 16, 2000 Scudder Consolidating Direct and Indirect Sales Scudder Kemper Retirement Services is currently in the process of consolidating its sales force to sell 401(k) products through both the direct and brokerage distribution channels.
"The trend in the marketplace over the last year and a half is that distribution channels are collapsing and there is no real need to maintain separate distinct sales forces that only handle one or the other distribution arms," Refojo said. There are currently 15 field sales people who sell the direct product and will now be trained and supported to sell to both the direct and indirect market. "We can leverage our expertise and extend it to the broker community," Refojo added. The communication to the brokerage community is being handled by John Blaze, vice president and director of broker relations, who reports to Refojo. Another interesting aspect of the product realignment, that could improve and increase sales within the brokerage distribution channel, is the addition of a finders fee for consultants and/or brokers. Refojo said that prior to the consolidation, the KemStar product was not offering a finders fee to brokers. "The message to brokers is that the KemStar product is not going away, but is being enhanced," Refojo stressed. Printed from: MFWire.com/story.asp?s=25528 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |
