Company Helps Advisors Evaluate Pay Structure
American Century Investments has introduced "interactive calculators" to help investment professionals manage their business more effectively.
Created by Broker Village Inc., the three calculators are actually software applications that allow representatives to customize scenarios and see how a transition to fees would affect compensation, whether their existing book of business should be converted to fees and how compensation compares for different products.
"These tools provide a clear, customized illustration of the impact that a wide range of scenarios will have on a financial advisor‚s book," says David Larrabee, senior vice president of American Century Third Party Marketing and Sales. "We want to help representatives visualize and understand the best way to manage their business."
Stu Speckman, Broker Village chairman and founder says: "Reps have the right to see how their pay will be affected given the different options. The calculators provide that ability. In fact, many times clients are not presented with perfectly suitable products because brokers cannot figure out how they will be paid. Sales of variable annuities and fee-based products otherwise would be higher."
Based in Kansas City, Mo., American Century manages approximately $85 billion in assets through mutual funds, separate accounts, commingled trusts, subadvisory accounts and institutional class funds. For additional information, visit www.americancentury.com.
Broker Village is a financial software firm in Fairfield, Conn. For additional information visit www.brokervillage.com.
Phoenix Adds Funds
Phoenix Investment Partners Ltd. of Hartford, Conn., has begun distributing three mutual funds managed by Kayne Anderson Rudnick Investment Management LLC (KAR), the Los Angeles-based money manager in which Phoenix acquired a majority position earlier this year.
The former Kayne Anderson Rudnick Large Cap, Small-Mid Cap and International funds have been rebranded with the Phoenix-Kayne name and converted from single-share offerings to multiple-share classes.
The three funds, which have nearly $300 million in assets under management, will continue to be managed by KAR, while Phoenix will take over marketing and distribution. Under the new distribution arrangement, the funds will be offered in A, B, C and X share classes with loads that are consistent with other Phoenix equity funds. Phoenix plans to distribute the funds primarily through 401(k) and mutual fund wrap programs sponsored by major broker-dealers.
November 1, 2002