Al Frank Asset Management just expanded its management team by one. On Tuesday the Laguna Beach, California-based value manager revealed the hiring of Scott Silverman as senior vice president of business development. Silverman most recently served as regional director in the West for William Blair & Co.
A spokesman for William Blair could not immediately be reached for comment on how Silverman's duties are being handled.
"Scott brings a wealth of experience," stated Al Frank CEO Jeff Montgomery. "We are confident he will build on Al's Frank's 32-year legacy of trust and conservative multi-cap value management."
A spokeswoman for Al Frank confirmed that Silverman's position is brand new.
Between its SMAs and two mutual funds, Al Frank managed more than $377 million on January 1.
Company Press Release
LAGUNA BEACH, CA - Al Frank Asset Management (Al Frank), one of the oldest, private boutique value-oriented money managers in the United States, is pleased to announce the addition of Scott Silverman to their executive team. Mr. Silverman, 33, joins Al Frank as Senior Vice President of Business Development; this is one of a series of key executive additions made over the past year.
Founded in 1977, Al Frank Asset Management is an independent, registered investment advisor with over $377 million in assets under management (as of January 1, 2009), distributed among separately managed accounts and two proprietary mutual funds. Al Frank's value-oriented investment philosophy, based on the core tenets of selection, diversification and patience, is designed to meet the long-term investment goals of individuals, institutions, family offices and retirement plans.
"We are pleased to welcome Scott to the team at Al Frank," said Jeff Montgomery, Chief Executive Officer. "Scott brings a wealth of experience, having held senior sales leadership positions with prominent asset management and mutual fund organizations. We are confident he will build on Al Frank's 32-year legacy of trust and conservative multi-cap value management."
Silverman's appointment is one of a series of key executive additions made over the past year, each with the aim of facilitating and managing growth. In May 2008, CEO Jeff Montgomery joined the firm from National Financial Partners (NFP). Paul Osterberg, previously a Senior Vice President at NFP Securities, joined Al Frank in 2008 as Chief Operating Officer and Chief Marketing Officer.
Silverman joins Al Frank Asset Management from global investment firm William Blair & Co., where he was a regional director in charge of Western states. As Senior Vice President of Business Development for Al Frank, Silverman will be responsible for all client retention and distribution activities. Commenting on his new position, Silverman said, "Al Frank has a long-standing reputation for providing dependable service and value to its clients. I am excited to join an organization that is so highly regarded in our industry, and to further the growth and innovation that has been so instrumental to Al Frank's success and, most importantly, to the success of our clients."
At William Blair, Silverman was responsible for building, from scratch, the investment firm's West territory, covering 15 states. He brings over a decade of financial experience to Al Frank. Silverman earned a bachelor's degree in Business and Public Administration from the University of Arizona in Tucson. He is a Certified Investment Management Analyst.
To request more information, or to speak to a member of the Al Frank Asset Management team, please contact Melinda Staab at 973.400.1341 or email@example.com
About Al Frank Asset Management
Founded in 1977, Al Frank Asset Management, Inc. is an independent registered investment advisor with over $377 million in assets under management as of January 1, 2009. Al Frank offers separately managed accounts and two proprietary mutual funds. Their value-oriented investment philosophy, based on the core tenets of selection, diversification and patience, is designed to meet the long-term investment goals of individuals, institutions, family offices and retirement plans. Al Frank Asset Management is also the editor and publisher of The Prudent Speculator. The newsletter was ranked #1 (not adjusted for risk) for the past 15, 20 and 25 years, according to The Hulbert Financial digest (as of January 31, 2009).
Al Frank Asset Management, Inc. (Al Frank) is an Investment Adviser, registered with the Securities & Exchange Commission and notice filed in the State of California and various other states.