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Thursday, July 22, 2004

ICON Creates Internal Wholesaler Team

News summary by MFWire's editors

ICON Advisers has recently doubled its wholesaling team. The advisor to ICON Funds added eight internal wholesalers to the company's eight external wholesalers.

The internal wholesalers, hired between March and June of this year, simultaneously support and work in tandem with the external wholesalers. They target the same group of intermediaries that the external wholesalers target, said spokeswoman Cynthia Crossland. The difference between the groups is that the external wholesalers are more "front-facing," said Crossland.

The sales changes are a part of ICON Adviser's larger effort to promote its new name and brand, changed from Meridian Investment Management in January. At that time, the company said the new logo "portray[s] the interrelationship of ICON, our valued adviser partners, and their clients."

Taking that theme a step further, ICON launched a new website that directs intermediaries, individual investors, institutional investors and media to different parts of the ICON website. The new design was launched on July 1, said Crossland.

What else is new on the site? Crossland said advisers can now access their account balances online, create custom reports for their clients, and access current information on performance, holdings and investment commentary from managers. Previously, weekly market commentary was mailed to advisers. Advisors can now sign up new accounts on the website.

As part of the larger branding effort, ICON distributed a new sales brochure via mail and email to all of their distribution channels, said Crossland. The company is not planning on targeting individual investors directly with marketing materials, she added. 

Edited by: Theresa Sim


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