“Vanguard has hired three regional sales people ahead of the retail distribution review and its long-awaited entrance into the UK exchange traded funds market.
Matthew Hendy and Andrew Walker have both joined Vanguard from HSBC, and will cover the South West England and East England respectively.
Tanya Allerton will also be joining the firm, having previously worked at Bank of New York Mellon, and will cover Yorkshire and the North in her new role.
The latest hires boost Vanguard’s sales team to eight, which bolsters the firm ahead of the introduction of the RDR next year and its planned launch into the UK ETF market.
Vanguard does not pay rebates to platforms, so its clients are those advisers who are fee-based, which the firm expects to increase with RDR.
Nick Blake, head of retail at Vanguard, said: ‘At the end of this year, all our funds will be on all the platforms, and so we will be having conversations with more advisers post RDR.’
He pointed out advisers are going through a transition ahead of RDR, meaning its eight-strong sales team will be able to provide support to advisers as they move into the new regime.”
Citywire by Emma Dunkley on Apr 23, 2012 at 14:31