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Thursday, December 19, 2013

Hennessy Names a Distribution Head

Reported by Tommy Fernandez

There are never any job openings at Hennessy Advisors, chairman Neil Hennessy loves to say -- except when the right person walks through the door.

Meet Brian Carlson.

Carlson, previously a principal at Trivium Consultants, was just named Hennessy's senior vice president, head of distribution at Hennessy. In this newly-created role, he will oversee the firm’s National Accounts, Sales and Relationship Management teams and "will be focused on establishing and enhancing relationships with distribution partners and Financial Advisors," according to a company statement.

"The distribution game has really changed and it is evolving on a daily basis," Hennessy told MFWire.

Carlson first came into Hennessy's radar via his friendship with Daniel Steadman, the firm's executive vice president and director. Carlson would periodically visit Steadman to network and catch up. During one recent visit, Steadman walked into Hennessy's office and told him "You have to meet this guy."

Previously, Hennessy and his colleagues turned to consultants such as Neil Bathon's FUSE Research for help navigating the fund industry's increasingly tangled distribution web. However, Carlson's mix of skills allowed the company to bring that function in house, according to Hennessy.

Carlson knows his way around B-Ds. From March 2003 to July 2007, he was executive vice president of National Retirement Partners, which later was sold to LPL to become LPL Retirement Partners. Carlson led the development of this company, from its predecessor 401(k)Advisors USA into a national retirement advisor distribution network.

From July 2007 to February 2011, he served as senior managing director at NRP Financial and NRP Advisors: the first a full service broker dealer and the second an SEC registered investment advisor. He subsequently worked at Trivium.

Earlier in his career he held regional vice president roles at SSgA and ING.

Here is the press release:
Company Press Release

Brian C. Carlson Joins Hennessy Advisors as Head of Distribution

Novato, CA - Hennessy Advisors, Inc. (OTCBB:HNNA) has announced that Brian C. Carlson has joined the firm as Senior Vice President, Head of Distribution. In this role, he will oversee the firm’s National Accounts, Sales and Relationship Management teams and will be focused on establishing and enhancing relationships with distribution partners and Financial Advisors.

  Prior to joining Hennessy, Mr. Carlson served in a number of senior leadership roles and as a consultant to RIA’s and broker-dealers. He was instrumental in the formation and growth of the NRP Companies, a distribution entity comprised of independent retirement plan and wealth management advisors, and was a Senior Managing Director of NRP Financial and NRP Advisors at the time of sale to LPL Financial. Brian began his career in financial services in 1997, wholesaling qualified plans, DCIO mutual funds, and separate accounts for ING and State Street Research Asset Management.

  “We value Brian’s experience ‘sitting on the other side of the table’ and his deep understanding of what is important to Financial Advisors and broker-dealers,” said Neil Hennessy, President, Chairman and CEO of Hennessy Advisors, Inc.  “Brian shares our core values of working hard and putting shareholders first, and we believe he will be a tremendous asset to our firm and a valuable resource to our clients,” he added.  

  “My experience has shown me that investment products are bought and not sold, and I see our job as consulting with distribution partners to find funds that will enhance their clients’ portfolios.  I look forward to representing Hennessy’s fantastic line-up of funds and talented team of portfolio managers to our valued business partners,” said Mr. Carlson. 

    About Hennessy Advisors, Inc.

Hennessy Advisors, Inc. is a publicly traded investment manager offering a broad range of domestic equity, balanced and fixed income, and specialty mutual funds. Hennessy Advisors, Inc. is committed to its consistent and repeatable investment process, combining time-tested stock selection strategies with a highly disciplined, team-managed approach, and to superior service to shareholders. Additional information about Hennessy Advisors, Inc. can be found atwww.hennessyadvisors.com.

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