Magazine article American Banker

Retirement Unit Bolstered at Quest for Value

Magazine article American Banker

Retirement Unit Bolstered at Quest for Value

Article excerpt

Quest for Value Funds is gearing up to serve the booming retirement marketplace by adding six spcialists to its retirement-planning services division.

While the New York-based mutual fund company will continue to focus on sales through broker-dealer channels, "we will also work closely with our bank marketing group," said Joseph J. Seymour, the senior vice president heading the unit. His responsibilities include new product and business development.

Mr. Seymour, hired away from kidder, Peabody & Co., where he managed the retirement planning services department, said there will be some crossover when working with banks.

His group will market retirement products, such as IRA roll-overs 401 (k) plans, and mutual funds, to banks and other financial intermediaries. Bank marketing of investment products unrelated to retirement will continue to be handled by a dedicated sales force created in 1992.

Quest for Value's client list now includes Chemical Banking Corp., Citicorp, Crossland Savings Bank, European American Bank, and Independent Financial, a third-party marketer.

Mr. Seymour has experience demonstrating to salespeople the importance of retirement planning, said Peter Muratore, president of Quest for Value Distributors Inc.

A Comfortable Fit

The new senior vice president's background in product development and retirement-plan marketing should fit in well with the 16-fund Quest for Value family, which specializes in investing for retirement, Mr. Muratore said.

Mr. Seymour's group consists of five other new hires.

Gerald Mr. Goz, who pioneered and developed the 401(k) business at Dreyfus Corp. …

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