MutualFundWire.com: Wirehouse Sales Grow for NFS
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Tuesday, August 15, 2000

Wirehouse Sales Grow for NFS


Nationwide Financial is putting the wirehouse market in the bullseye of its sales efforts. The Columbus, Ohio-based insurer said today promoted Douglas Mangini to vice president of Nationwide Financial and added two divisional sales managers and eight regional marketing directors to support its wirehouse distribution efforts.

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Mangini continues to report to Rick Karas, president of NFS Distributors and senior vice president of Nationwide Financial, and his responsibilities remain primarily unchanged. Although the eight additions to its wholesale force completes the current round of changes to its salesforce, a spokesperson said that the insurer expects to add more positions in the future.

The insurer also said that sales through wirehouse and regional brokerages grew 26% to $399 million in the second quarter from $237 million in the second quarter of 1999. Nationwide is relatively new to selling its products to this channel, only having entered it in 1998. With the added staff Nationwide now has 23 regional marketing directors.

Mangini had previously vice president of NFS Distributors, is his new role he is responsible for managing the distribution of The BEST of AMERICA(R) variable annuities, life insurance and 401(k) products through wirehouse and regional investment firms.

The insurer said that Steve Clifford and Jim Homan are now divisional sales managers. Clifford joined Nationwide from Guardian is based in Charlotte and covers the Eastern Division. Homan will handle the Western Division from Wichita. He was previously regional marketing director at Nationwide.

The new regional marketing directors hired from outside the insurer are:

  • Jennifer Coleman is based in Lincoln, Nebraska and joins Nationwide from Ameritas Variable Life.
  • Edward Cordova is based in Syracuse, New York and was most recently a marketing director for The Hartford.
  • Rex Hunsaker is based in Tualatin, Oregon and was most recently a wholesaler at The Hartford.
  • Diana Krause is based in Clermont, Florida and joins Nationwide from Transamerica Capital, where she was a regional vice president.
  • Travis Wilson is based in Dallas. He was previously with Nationwide before serving in the U.S. Marine Corps.

    Three executives were moved into the regional marketing director position from other internal roles. They are:

  • Ron Ritchey, based in Northville, Michigan who was previously an internal wholesaler.
  • Steve Egli, based in Franklin, Tennessee who was previously a manager and internal wholesaler.
  • Barbie Jurkovic, based in McLean, Virginia, who was previously a wholesaler and senior training and development instructor.

    "Nationwide Financial is making a focused effort to help wirehouse producers grow their business," Mangini said. "We have the products and tools to help wirehouse producers meet their clients' retirement planning needs, and we are working hard to get those tools into their hands."


    Printed from: MFWire.com/story.asp?s=25860

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