, chief distribution officer at Georgia-based Stadion Money Management
, is in the process of consolidating the firm's mutual fund and retirement sales teams. That will bring together an approximately fifteen person retail team on the mutual fund side and a ten person retirement sales team.
, president and CEO of Stadion, tells MFWire
that this consolidation isn't about cutting down, but about bringing both teams together.
"We want them to represent all Stadion products," Doherty explains.
Lacusky was named
chief distribution officer late last year to expand his role as the national director of retail sales to include the duties of the national director of retirement sales. Lacusky absorbed his new responsibilities from Tim McCabe
who resigned earlier that year.
As a part of this consolidation, every member of the sales team will also be a part of the sales team for StoryLine
, Stadion's nine-month-old managed account service.
"We have fifteen people [on the mutual fund side] out there every day—it's crazy not to have them telling the StoryLine story," Doherty explains.
Doherty says he wants the sales teams to know StoryLine because it is unique to Stadion.
"Everyone is selling mutual funds but not everyone has StoryLine," Doherty explains.
StoryLine is a managed account service
built with SPDR ETFs that provides a range of investment strategies that can be tailored for individuals and plans. The service was launched with recordkeepers in September and now has nearly $500 million AUM and 1000 plans.
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