MutualFundWire.com: An SRI Shop's Distro Chief Takes Over

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Thursday, August 18, 2016

An SRI Shop's Distro Chief Takes Over

A new chief is taking over a $10.2-billion SRI, manager-of-managers mutual fund shop. Watch for him to make several distribution hires in the coming months and into 2017.

Ron Dugan
GuideStone Financial Resources
Chief Strategic Investment Officer

On August 1, Harry Nelson was promoted to president of Dallas-based GuideStone Capital Management [profile], which is part of the 98-year-old Southern Baptist Church-affiliated non-profit GuideStone Financial Resources. Nelson confirms that Ron Dugan, formerly chief strategic investment officer for GFR and president of GuideStone Capital Management, left GuideStone on August 15.

MFWire could not immediately reach Dugan himself for comment.

Nelson, who reports to GFR chief operating officer (and GuideStone Funds president) John Jones, will also continue to serve as head of sales for both the GuideStone Funds and for GuideStone's bundled retirement plan recordkeeping business. Nelson says he could search for a new sales chief in mid-2017 or so.

William Lofland
GuideStone Financial Resources
Head of Intermediary Sales

Meanwhile, West Coast GuideStone Funds wholesaler Will Lofland has been promoted to head of intermediary sales and national accounts, Nelson confirms. Lofland "will kind of be a player coach" and will "retain a small territory" that includes Colorado and Utah, Nelson tells MFWire. Yet they are also searching for another wholesaler to fill Lofland's old shoes.

"We've just been thrilled with the success of our intermediary sales," Nelson says. "We've raised over $100 million [in the advisor channel] ... It's been a good liftoff."

Pat Feller, head of institutional sales, also reports to Nelson.

Nelson, an alumnus of Northwestern and of Dallas Baptist University, joined GuideStone in 2013. Last year GuideStone opened up its mutual fund distribution "to the broader investing public," and Nelson hired GuideStone Funds' first external wholesalers.

Before joining GuideStone three years ago, Nelson worked with Wachovia (now part of Wells Fargo), Schwab, and Golden Capital Management.

Dugan is an alumnus of Texas A&M and of the University of Texas at Dallas. He joined GuideStone in 2010 after working with another big manager of managers, Russell, for the better part of a decade. He also worked with the Baptist Foundation of Texas, the Meadows Foundation, and Price Waterhouse (now PWC).

GuideStone Funds had $10.2 billion in AUM as of March 31, 2016, though the bulk of its assets from 403(b) retirement plans for employees of churches, colleges, hospitals, retirement homes, universities, and other Christian-affiliated organizations. GuideStone lays claim to being the "largest Christian-screened mutual fund family" in the U.S.

Printed from: MFWire.com/story.asp?s=54646

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