American Funds is planning a 25 percent increase in its distribution team, bringing the number of sales associates from 115 to 145 in the next six to eight months.
“The marketplace continues to evolve,” said Matt O’Connor director of distribution for North America. “The interaction between an asset manager and an advisor has changed.”
As advisors move to an advisory business model, one in which they are using a platform provided by their firm and are charging a fee for service, their expectations of us have gone up significantly, O’Connor said.