Northern Lights Distributors, a broker-dealer specialising in providing adviser-driven solutions for fund distribution services, has appointed Brian Nielsen as chief executive officer and Bill Wostoupal as president, effective immediately.
These management changes were adopted as part of NLD’s strategic focus on growth in its sales and distribution platform.
Nielsen had previously served as president, manager and principal of NLD since December 2005. As chief executive officer, Nielsen will remain focused on the operational and compliance aspects of NLD’s business.
Wostoupal will continue to serve as executive vice president of sales and business development for NorthStar Financial Services Group, a holding company for several subsidiaries which manage and serve financial assets, including NLD. In his new role, he will lead NLD’s sales and marketing efforts, with sales and marketing personnel reporting directly to him.
"Northern Lights Distributors has initiated a number of steps to become a more active distribution partner to advisors, adding more distribution channels which ease the process of obtaining selling agreements and establishing funds on broker-dealer platforms," says Nielsen. "Bill and I are working to ensure that these efforts continue so we can assist even more advisors — from both inside and outside the NorthStar family — with raising assets, forging industry partnerships and adjusting to evolving regulations for mutual funds."
NLD recently initiated a regional expansion of its sales and distribution team, which now services more than 100 advisers. Jonathan Poyer and Michael Lambatsos were previously appointed NLD sales and distribution managers, and their team includes Kristin Klaus, an internal wholesaler who educates NLD clients and independent advisers on the selling agreement and broker-dealer process. NLD is looking to add several more sales and distribution professionals.
"We will continue to seek out dedicated sales and distribution specialists who understand that every adviser requires a unique plan of action to increase assets under management and thrive in an increasingly regulated and competitive mutual fund market," says Wostoupal. "The growth of our sales and distribution team positions us to deliver a more comprehensive solution to advisers’ distinct distribution needs while protecting their funds, employees and shareholders from costly mistakes."
