Regional strength key in brave new distribution world - Reid

Added 7th November 2016

A strong regional presence is a key part of Royal London Investment Management’s wholesale growth plans, says Phil Reid.

Regional strength key in brave new distribution world - Reid

Reid, who joined RLAM earlier this year has already been busy on the recruitment front and has made fast work of his intention to grow the firm’s wholesale distribution team from the four-person team it was when he arrived to an 11-strong unit.

He was the fifth member. Following him were three staffers in hybrid roles, covering both sales and sales support. Numbers nine and 10 came in October when the firm announced the appointment of both Filippo Madonia from M&G and Paul Keogh from Kames to look after Scotland and the South East of England respectively. The eleventh hire remains in process, according to the firm.

“What we are trying to do is build a bigger footprint of people in the regions that will be whole of market, that can look after both discretionary and advisory clients,” Reid explained, adding: “Distribution has changed in certain parts of the advisory market as fund rating agencies and other key strategic relationships are formed. As a result, advisers want to be engaged in different ways.”

According to Reid, the role of distribution is becoming more consultative; more of a support role.

“One of the catalysts for this change in the distribution world is the shift to a smaller number of much more influential decision makers. When I started, you had thousands of individual decision makers, but the market has become much more centralised,” he said.

But, contrary to some, he does not believe that should necessarily mean a reduction in the number of people on the ground.

“If you have a good kitbag of products, a relatively broad selection of stuff across asset classes, you need to be out there; it won’t all be done from London. If decisions increasingly become centralised that is fine but you still need people to fulfil that consultative role because that becomes the key differentiating factor for an adviser in many cases. That service element becomes increasingly important.”

Kames Income Hub


Vincent McEntegart, manager of the Kames Diversified Monthly Income Fund, explains how he aims to deliver a stable and sustainable income of 5% p.a.*, paid monthly, by investing in a range of asset classes

Square Mile Research

Premier Multi Asset Global Growth - Alex Farlow
Premier Multi Asset Global...

Talking Factsheets is a video service for users...

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

Geoff Candy

Group digital editor

Geoff Candy joined Portfolio Adviser as News Editor in May 2014. He has been a financial journalist and broadcaster since 2005 and, in that time has worked in both South Africa and the Netherlands, covering everything from high street retailers and construction companies to mining and insurance.



Investment Strategy




PA Dublin October 2017
PA Dublin October 2017

Tuesday 10 October
Westbury Hotel, Dublin

PA US 2017
PA US 2017

Tuesday 17 October
Furniture Makers' Hall

PA Channel Islands November 2017
PA Channel Islands November 2017

Tuesday 14 November
Royal Yacht Hotel, Jersey

PA Alternative Ucits November 2017
PA Alternative Ucits November 2017

Tuesday 7 November 
Furniture Makers' Hall

Sponsored Content