Neuberger Berman Bulks Up Sales Team

The Advisor Solutions Group at Neuberger Berman LLC added 11 senior regional directors in 10 new regions as it looks to expand its mutual funds business among wirehouses and regional broker/dealers.

After a strong 2011, the asset management firm seeks to bring its equity and fixed-income investment strategies to a wider audience and has recruited sales professionals in major money centers around the country, according to Jason Ainsworth, managing director and head of the Advisor Solutions Group.

“We’re expanding the team to better service and support financial advisers in growing and managing their business,” Ainsworth told PLANADVISER.

The Advisor Solutions Group, which offers separately managed accounts (SMA), unified managed accounts (UMA) and alternative investments to wirehouse, regional and independent broker/dealers, has grown to a team of 35 executives, up from 15 in 2008.  In the wirehouse channel, the firm has added seven regions and seven people. The new regions are Pacific Northwest, northern Los Angeles, and Michigan/Indiana in the Western division; and Southeast Florida, Puerto Rico, the Carolinas, and upstate New York in the Eastern division.

In the broker/dealer channel, the firm has added three regions and four people. The regions are the Four Corners (Arizona, Colorado, Montana, North Dakota, New Mexico, South Dakota, Utah and Wyoming);  the Heartland (Iowa, Kansas, Minnesota, Missouri and Nebraska); and the Mid-East (Michigan and Ohio).

Neuberger Berman has $193 billion in assets under management as of December 31, 2011, including $27 billion in mutual fund assets.