Deals and People

Retirement Industry People Moves

SSGA Enhances U.S. Intermediatiary Sales Team; Beltz Ianni & Associates Hires Retirement Consultant; Fidelity Names President of Institutional Arm; and more.

By Javier Simon editors@strategic-i.com | October 06, 2017
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SSGA Enhances U.S. Intermediatiary Sales Team

State Street Global Advisors(SSGA), the asset management business of State Street Corporation, announced a strategic realignment of its US SPDR Wealth Management Sales Team to better complement the needs of their financial adviser and wealth management professional clients.

“Citing record high inflows into U.S.-listed Exchange Traded Funds (ETFs) and rapid change sweeping across the investment advisory business, clients are increasingly engaging with SSGA’s SPDR business on a wider variety of topics that include portfolio construction guidance, market insights, ETF due diligence and trading execution,” SSGA says in a statement. “To align SSGA’s expertise with these shifting client needs, the SPDR ETF business is moving from a channel-specific to a regional approach in which closely-aligned teams provide local and specialized coverage to clients spanning investment strategy, ETF research, capital markets and practice management.”

The new structure will remain under the leadership of Michael Stevens, head of US SPDR intermediary sales at SSGA. The US SPDR business has also established a strategic sales team dedicated National RIA, ETF Strategist, and ROBO markets.

“A service model in which we segment clients by channel is too simplified in today’s world of fee compression, regulatory change, and the continual need to scale to meet client demands,” says Nick Good, co-head of the Global SPDR business at SSGA. “The industry is shifting and we must customize our client experience and provide a portfolio of resources focused on the drivers, opportunities and challenges investment professionals face in their practice. This reorganization allows us to deliver a higher level of personalized service and support to the growing universe of financial advisers and wealth managers relying on ETFs to meet their clients’ goals.”

NEXT: Beltz Ianni & Associates Hires Retirement Consultant