Cue the 70s action theme music.
John Hancock Investments
has assembled a crack team of six internal wholesalers targeted on garnering business from advisors and other clients who have not bought funds from the firm before.
It is only the latest in the Hancock saga. MFWire
has covered recently Arnott's ongoing appetite for more fund adoptions
; the firm's recent successes gathering assets in core equities
, as well as plan to use BIG Data to scope out potential sales targets
In fact, the S.W.A.T. unit, which stands for "strategic wholesaling attack team," is an integral part of many of these plans. For example, the unit members work with the staff of the firm's Business Intelligence Group (B.I.G.) to find potential targets.
"This is a team of individuals focused on talking to people who have never done business with us," Arnott recently told MFWire
Arnott estimates that there are roughly 235,000 financial advisors in the United States, out of which some 67,000 do business with Hancock. Arnott wants to aggressively court the other 150,000 to gather more assets.
"We've seen a lot of growth here," he said.
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