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Tuesday, August 11, 2015|
Appelstein Takes RBC GAM's Institutional Distro to the Retail Channel
Matthew Appelstein is taking RBC Global Asset Management's [profile] institutional pricing and service model to the retail and advisor-sold marketplace, starting with four mutual funds. In the process, he's revamping how RBC GAM launches new products.
"All of these products are successful in their own right in the institutional marketplace," Appelstein says. "We see retail following institutional."
The full fee cuts will last for 24 months, starting on November 1 of this year, and after the 24 months RBC will slowly phase out the fee cuts over 18 months.
On the second part of the program, Appelstein says RBC GAM's "looking for a limited number of 'Cornerstone' investors" who would each invest $10 million or more in one of the funds.
"We're going to treat them like they're an institutional separate account," Appelstein tells MFWire, describing the service level under the program as "white glove."
"This is not a flash in the pan ... This is how we're going to roll out product going forward," Appelstein adds, clarifying that RBC GAM will always seed new funds itself first.
Printed from: MFWire.com/story.asp?s=52387
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