With its sights on advisers, USAA hires ex-Hartford Funds boss

With its sights on advisers, USAA hires ex-Hartford Funds boss
Sloane tabbed to oversee third-party distribution for United Services
MAY 07, 2012
USAA Investment Management Company has hired Keith Sloane, former head of the Hartford mutual funds, as head of third-party distribution. It is a newly created role to help USAA expand its presence with advisers and third-party platforms, the company said in a release. USAA mutual funds are currently available on the Fidelity, Vanguard, TD Ameritrade, Pershing and E*Trade platforms. USAA's mutual funds have approximately $52 billion in assets. Mr. Sloane served as the head of the Hartford Financial Group's mutual fund business from 2007 to 2010. Last month, the Hartford announced that it will no longer offer annuities and that it will sell off its life insurance operations and Woodbury Financial Services Inc., its independent-contractor broker-dealer. Company management stated it wanted to focus on more profitable products, including mutual funds. Toward that, the company plans to add about 50 salespeople to its 100-person mutual fund sales force in the next few months.

Latest News

Carson Group adds $236 million California team in latest deal
Carson Group adds $236 million California team in latest deal

Omaha-based RIA expands Northern California footprint with Roseville acquisition amid record annual pace for wealth management M&A.

Envestnet expands tax-management push with Vanguard alliance
Envestnet expands tax-management push with Vanguard alliance

Advisor's Alpha framework joins Envestnet's platform, giving advisors new tools to manage client tax exposure year-round.

Russell Investments to be acquired by B Capital-led investor group
Russell Investments to be acquired by B Capital-led investor group

B Capital and pension giant CalPERS lead a consortium buying the 90-year-old asset manager from TA Associates and Reverence Capital Partners.

AI use reshapes advisor satisfaction and deepens client trust, separate studies reveal
AI use reshapes advisor satisfaction and deepens client trust, separate studies reveal

Using artificial intelligence can have benefits for both advisors and their clients, according to new research.

Names of more B-Ds that sold deals of bankrupt Inspired Healthcare surface
Names of more B-Ds that sold deals of bankrupt Inspired Healthcare surface

Broker-dealers that sold the defunct securities backed by Inspired Healthcare generated more than $100 million in fees and commissions.

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.