Another firm is bolstering its army for this year's sales wars.
RidgeWorth Investments announced that it plans to grow its sales teams by 30 percent in response to growing demand from financial advisors and institutional investors for its investment products.
"We're excited about our growth potential and are investing in new talent to expand our distribution team," stated Ashi Parikh, RidgeWorth CEO and Chief Investment Officer.
According to the company, staffing plans that will drive RidgeWorth's Wealth Advisor Channel will result in a one-to-one ratio of internal to external wholesalers. RidgeWorth has experienced significant sales growth.
In a statement Jim Stueve, President of RidgeWorth Investments declared that "RidgeWorth's advisor-sold investment products have grown at a compound annual rate of more than nine times the industry average since 2007." New additions to the sales team will support this aggressive growth. Bob Kuberski, Managing Director, will continue to serve as National Sales Manager for the Wealth Advisor Channel.
Here is the press release:
Company Press Release
RidgeWorth Investments Expands Distribution Team
Staffing Additions to Drive Growth in Wealth Advisor and Defined Contribution Investment Only Channels
ATLANTA, Jan. 9, 2014 -- RidgeWorth Investments (RidgeWorth) announced today plans to grow their sales teams by 30 percent in response to growing demand from financial advisors and institutional investors for its investment products. "We're excited about our growth potential and are investing in new talent to expand our distribution team," said Ashi S. Parikh, RidgeWorth CEO and Chief Investment Officer.
Staffing plans that will drive RidgeWorth's Wealth Advisor Channel will result in a one-to-one ratio of internal to external wholesalers. RidgeWorth has experienced significant sales growth. In fact, according to Jim Stueve, President of RidgeWorth Investments, "RidgeWorth's advisor-sold investment products have grown at a compound annual rate of more than nine times the industry average since 2007." New additions to the sales team will support this aggressive growth. Bob Kuberski, Managing Director, will continue to serve as National Sales Manager for the Wealth Advisor Channel.
Expanding support for the Defined Contribution Investment Only (DCIO) Channel is also an instrumental part of RidgeWorth's distribution strategy and will be led by Brandon Shea, Managing Director, who will continue to serve as National Sales Manager. The firm enjoys a strong presence in the DCIO channel and expects to see continued growth in that area.
"We are experiencing significant demand from the investment community, particularly in the Wealth Advisor and DCIO channels," said Stueve. "Our efforts in these areas have resulted in dramatic growth in assets and revenues. As this momentum builds, more and more financial advisors and investors are benefiting from our multi-manager affiliate approach and the potential advantages it offers. We are adding staff to demonstrate our continued commitment to the investment community and to better support our clients' needs."
Complementing these expansion plans, additional specialists will be added to support RidgeWorth's institutional sales efforts, including two members dedicated to uncovering opportunities internationally.
"We pride ourselves on our performance, and investors are attracted to our boutique manager approach, which aligns investor and manager interests," said Parikh. "RidgeWorth's positive momentum continues, and we are strategically positioning ourselves for ongoing success in 2014."
About RidgeWorth Investments
RidgeWorth Investments serves as a holding company that owns interests in six investment boutiques with approximately $50.6 billion of assets under management as of November 30, 2013. RidgeWorth's investment boutiques manage a wide variety of investment disciplines across the fixed income, equity, and liquidity management asset classes. Our boutiques provide investment management services to a growing client base that includes endowments, foundations, corporations, healthcare organizations, municipalities, public funds, associations, insurance companies, labor unions and high net worth individuals. In addition, RidgeWorth serves as the investment adviser to the RidgeWorth Funds mutual fund family. RidgeWorth Investments is a trade name for RidgeWorth Capital Management, Inc., an investment adviser registered with the SEC headquartered in Atlanta. For more information about RidgeWorth, visit www.ridgeworth.com.
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