Regional Realignment Aims to Better Serve Advisors and Managers Based on Their Individual Practices and Investment Needs
BOSTON--(BUSINESS WIRE)-- State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), today announced a strategic realignment of its US SPDR Wealth Management Sales Team to better support its financial advisor and wealth management professional clients with their evolving needs.
Amid record high inflows into US-listed Exchange Traded Funds (ETFs) and rapid change sweeping across the investment advisory business, clients are increasingly engaging with SSGA’s SPDR business on a wider variety of topics that include portfolio construction guidance, market insights, ETF due diligence and trading execution. To align SSGA’s expertise with these shifting client needs, the SPDR ETF business is moving from a channel-specific to a regional approach in which closely-aligned teams provide local and specialized coverage to clients spanning investment strategy, ETF research, capital markets and practice management.
“A service model in which we segment clients by channel is too simplified in today’s world of fee compression, regulatory change, and the continual need to scale to meet client demands,” said Nick Good, co-head of the Global SPDR business at SSGA. “The industry is shifting and we must customize our client experience and provide a portfolio of resources focused on the drivers, opportunities and challenges investment professionals face in their practice. This reorganization allows us to deliver a higher level of personalized service and support to the growing universe of financial advisors and wealth managers relying on ETFs to meet their clients’ goals.”
The new structure will remain under the leadership of Michael Stevens, head of US SPDR Intermediary Sales at SSGA. The US SPDR business has also established a dedicated strategic sales team to support the fast-growing National RIA, ETF Strategist, and ROBO markets.
“Coming off our best year of inflows since 2008, we are excited for the opportunities that lie ahead for the SPDR ETF business,” continued Good. “We look forward to providing all clients with a new service model that provides better access to the bespoke insights and expertise where, how and when they need it.”
State Street Global Advisors’ US SPDR Wealth Management Sales Team was created in 2001 to serve a wide array of clients. The group represents $330 billion in US SPDR assets under management.
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com.
About State Street Global Advisors
For nearly four decades, State Street Global Advisors has been committed to helping financial professionals and those who rely on them achieve their investment objectives. We partner with institutions and financial professionals to help them reach their goals through a rigorous, research-driven process spanning both active and index disciplines. We take pride in working closely with our clients to develop precise investment strategies, including our pioneering family of SPDR ETFs. With trillions* in assets under management, our scale and global footprint provide access to markets and asset classes, and allow us to deliver expert insights and investment solutions.
State Street Global Advisors is the investment management arm of State Street Corporation.
* Assets under management were $2.61 trillion as of June 30, 2017. AUM reflects approx. $34 billion (as of June 30, 2017) with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
Important Risk Information:
Equity securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions.
While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.
ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR® S&P 500®, SPDR® S&P MidCap 400® and SPDR® Dow Jones Industrial Average, all unit investment trusts. ALPS Distributors, Inc. is not affiliated with State Street Global Advisors Funds Distributors, LLC.
Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
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State Street Corporation
Andrew Hopkins, +1 617-664-2422
Source: State Street Global Advisors