Bill Gross's departure from the firm he founded raises questions for asset managers on whether having a big name at the top of a fund is the right approach when marketing to advisors and investors.

Dan Sondhelm, a vice president and marketing consultant at SunStar Strategic, says Gross's exit could be a wakeup call for the asset management industry on why a fund should not be defined by one person. Sondhelm, who works with 40 asset managers on distribution and marketing strategies, suggests fund companies consider having a strong second-in-command managing key products, who should take on more speaking roles at industry conferences so advisors know the name.

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