Intends to Perform Sales Staff Review
John Hancock Funds is about to slip the final piece into its mutual fund distribution puzzle. The firm has just hired two fund wholesalers and is tendering an offer to a third. The final hires complete John Hancock's sales staff expansion to a total of 40 wholesalers, a 33 percent increase from the beginning of the year.
Now that it has a full roster, John Hancock can reassess its stable of wholesalers. 'Once you're fully staffed, you start examining your staff and make sure that they're up to shape,' said Keith Hartstein, senior vice president of sales and marketing for John Hancock. Hartstein will now be able to assess the performance of his existing wholesalers and issue warnings to those who aren't able to make the grade, he said.
Damon Thomas, formerly with Enterprise Funds, now covers the Maryland/DC/Delaware territory for John Hancock; and Joe Wagenaar, who was previously with Van Kampen Funds, now covers the Indiana territory. Hartstein expects the remaining position in Southwest Texas and New Mexico to be filled shortly.