Regional Realignment Aims to Better Serve Advisors and Managers
Based on Their Individual Practices and Investment Needs
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
CORP-3303
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version on businesswire.com: http://www.businesswire.com/news/home/20171005005902/en/
State Street CorporationAndrew Hopkins, +1
617-664-2422Ahopkins2@StateStreet.com
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