is taking USAA's
mutual fund distribution efforts to the next stage.
The mutual fund arm of the military-focused insurer now has about $3.8 billion in third-party AUM, nearly triple the $1.3 billion it had at the beginning of 2014. Sloane, who leads third-party distribution for a firm that grew up supporting U.S. military service members, veterans and their families says he's finished getting key distribution agreements in place for the funds.
"We're on 44 platforms," Sloane tells MFWire
. "We're on every wirehouse, every meaningful regional, every meaningful independent, all the leading custodial supermarkers. That's complete."
"We're pivoting from strictly building, to building and growing," Sloane adds.
Sloane has also expanded his team, and they're testing the waters with some online advertising specific to the USAA mutual funds.
"We'll see where we'll go from there," Sloane says.
Correction: A prior version of this version mislabeled the AUM figures for USAA. USAA Investments has nearly $68 billion in total AUM, including about $3.8 billion in third-party AUM.
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