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In Practice January 31, 2011
Allianz Life Restructures Broker/Dealer Sales Team
Allianz Life Insurance Company of North America announced organizational changes to its broker/dealer (B/D) distribution team.
Reported by Nicole Bliman
The company says the changes will allow Allianz Life to “align with the changing dynamics of the industry.”
“Retirement consultants,” formerly referred to as wholesalers, will be responsible for managing all relationships (independents, wires, regionals, banks and fee-based) and all product lines (VAs, FIAs, and fee-based products) within a specific territory.
Each of the five geographical districts will now have one fixed index annuity specialist, one new senior fixed index annuity specialist, and 12-13 external retirement consultants.
A new position has been created, which will be filled Corey Walther. Walther is the new senior vice president, head of investment relations and fee-based distribution. His responsibilities include sales growth and profitability of the fee-based product line across all distribution channels and for managing Allianz’s investment relationship strategy.
“As more registered representatives demand both fixed and variable products and a growing number of fee-based advisors continue to look for insured retirement solutions, it’s important that we evolve to meet these trends,” said President of Allianz Life Financial Services, LLC (ALFS) Robert DeChellis. “As part of this change in strategy, we are taking a more holistic approach by adding new lines of business, creating new positions and realigning responsibilities.”