Charles Schwab Expands DCIO Sales Team
According to a November 23rd email, Charles Schwab announced that Neil T. Hickey, CIMA, has joined the company as Managing Director, Defined Contribution Investment Only to drive sales of the company's DCIO products. In his new role, Hickey will be responsible for working with consultants, recordkeepers and plan sponsors to increase the adoption of Schwab's retirement investment products in defined contribution plans.
Through the third quarter of 2010, nearly 16 percent of assets held in Schwab's collective trust funds were through the DCIO channel, including assets held in plans served by Schwab's third party administrator clients. Hickey joins a growing sales team that is being developed to meet increased interest in Schwab's DCIO products.
Hickey joins Schwab from Old Mutual Asset Management where he was a Vice President responsible for distribution of investment products including mutual funds, SMA's and alternative investments to consultants, plan sponsors and retirement platforms as well as the RIA market. Prior to Old Mutual Asset Management, Hickey spent 15 years at Fidelity Investments where he was responsible for sales and relationship management coverage providing custody, investment and product solutions to Fee-based Registered Investment Advisors, Bank Trust, Family Offices and Third Party Retirement Plan Administrators. Hickey will be based in Boston, MA.
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