Family Office
Symmetry Partners continues wholesale-team buildup
Conn.-based investment manager hires its third wholesaler in
about a year. Asset manager Symmetry Partners is continuing its
wholesale push to investment advisors with the appointment of
former New York Life Investment Management salesman Michael
Storer as its regional director for the northeastern U.S.
"Through Michael's efforts, we look forward to strengthening the
relationships we currently have established in this region, while
simultaneously building new partnerships for the future," says
Patrick Sweeny, principal of Symmetry Partners. "We feel that
Michael's experience will benefit the advisors we serve in that
region while helping us to grow as a firm."
Somewhat predictable
Storer, who was a wholesaler for New York Life's Mainstay Funds
prior to joining Glastonbury, Conn.-based Symmetry, says his new
employer has an appealing story for advisors serving affluent
baby boomers.
As "boomers move closer to retirement they want a seamless,
transparent and somewhat predictable investment experience as
they continue to accumulate assets -- and also as they prepare
for the distribution phase of their lives," according to Storer.
""Symmetry provides that investment experience and more
importantly backs it with more than 50 years of academic and
Nobel-prize winning research."
Storer's hire is the third wholesaling appointment Symmetry has
made in the last nine months. In June the firm made former Legg
Mason wholesaler Peter Sullivan director its business in the
western U.S. In November 2006 it hired ex-Protective Life
wholesaler Michael Rogers sell its investment products to wealth
managers in the South and Midwest.
Symmentry's portfolios are meant to appeal to conservative
investors who want to minimize volatility, keep costs down and
manage the tax consequences of their holdings. The asset manager
tempers market uncertainty, "through broad global
diversification," according to a blurb on its website.
As of 30 June 2007, Symmetry managed or sub-advised on over $4.5
billion in assets, mainly for individual investors. -FWR
.
