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Virtus Investment Partners to expand sales force

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Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-manager asset management business, is to expand its wholesaling force by establishing a team of experienced sales professionals to focus exclusively on the independent broker and registered investment advisor (RIA) channels.  

The new team will be led by Paul Cahill, sales director, reporting to Jeff Cerutti (pictured), executive vice president and head of retail distribution, and is expected to launch in January 2012.

"Virtus has enjoyed robust sales growth over the past three years and this is a natural extension of our business model," says Cerutti, who noted that the company’s long-term, open-end mutual fund sales have grown from USD2.7 billion in 2009 to USD7.1 billion for the nine months ended September 30, 2011.  "The primary responsibility of the new team is to build upon the sales success we have achieved through the national and regional broker-dealers by adding a dedicated focus on supporting brokers at independent firms and registered investment advisors."

Virtus offers a broad set of investment products, including the Virtus Mutual Funds, through distributors from the leading national and regional broker-dealers, independent brokerage firms, and registered investment advisors.  The regional directors in the new Independent-RIA sales division will work alongside the current regional directors, who continue to serve the national broker-dealer and regional firms.

"We offer products from a distinctive group of boutique investment managers, which we believe is particularly appealing to independent advisors and RIAs as they work to distinguish themselves in their markets," Cerutti says. "Virtus is committed to the long-term success of the advisors and investors with whom we work.  By expanding our sales team at this time, we can be sure we are offering the highest level of service to our existing clients while continuing to build upon the momentum of, and interest in, the broad spectrum of investment portfolios we represent."

 

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