Deals & People October 4, 2012

Pyxis Capital Names Watts Head of National Sales

Keith Watts has been hired as managing director and head of national sales for the Pyxis Capital distribution team. 
Reported by

Watts joins Pyxis from Destra Capital Investments, where he was the national sales manager for RIA and institutional distribution throughout the U.S.  Previously, he spent 16 years in a variety of traditional and alternative asset management businesses, including sales leadership and business development roles at Goldman Sachs Asset Management and Janus Capital Group.  

Watts has extensive product and distribution experience across the alternative landscape including the development and distribution of one of the first 1940 Act registered fund of hedge funds.  He has been instrumental in helping to establish the role of liquid alternatives in intermediary distribution.

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As head of national sales, Watts will lead a growing sales and client service team that is focused on the firm’s offerings in alternative mutual fund strategies.  An increased appetite for alternative strategies among advisers is driving the expansion of the sales force, which is expected to grow to more than 20 sales professionals by year-end.

Watts holds a bachelor’s of science in technology from Pittsburg State University in Pittsburg, Kansas,  and was also a captain in the United States Marine Corps.

“Keith brings a wealth of industry knowledge and skill to our team, and a record of successfully building great sales teams at leading asset management firms,” said Brad Ross, president of Pyxis Capital. 

Pyxis Capital, in Dallas, is a registered investment adviser serving advisers, institutions, and individual investors seeking registered alternative investment solutions.

 

Data & Research October 4, 2012

Day-to-Day Finances Detract From Retirement Saving

 

Employees are making some positive changes to their retirement planning, but poor money management skills and long-term economic challenges present major obstacles.

 

 

Reported by

Financial Finesse’s second annual research report about the state of U.S. employee retirement preparedness says 32% of questions received by the company’s on-staff Certified Financial Planner professionals in the second quarter of 2012 were about retirement planning issues versus 25% in Q2 2011, and a greater percentage of employees reported running retirement plan projections (39%) in the first half of 2012 versus the same period a year ago (33%).  

However, as of June 30, 51% of employees said they did not have an emergency fund in place, and 33% reported not having a handle on their cash flow. The firm’s research division believes this may be why employees are not making more dramatic improvements to their preparedness despite short-term economic improvements.   

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According to Greg Ward, the firm’s research group director, “It is also the reason that we are seeing an increase in the percentage of employees reporting that they have taken a retirement plan loan or hardship withdrawal, at 34% in the first half of 2012 versus 27% in the first half of 2011.”  

The full report is here.

 

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