Allianz Revamps Distribution
February 1, 2011 by Warren S. Hersch
Published 1/31/2011
Allianz Life Insurance Company of North America has restructured its broker-dealer sales team.
Allianz Life, Golden Valley, Minn., a unit of Allianz S.E., Munich, Germany, says it is trying to make the team more flexible by having each external retirement consultant manage all relationships and all product lines in the consultant’s territory.
The channels involved will include independents, wirehouses, regionals, banks and fee-based advisors, and the products involved will include variable annuities, indexed annuities and fee-based products.
The company’s wholesalers will become internal retirement consultants, and they will now help external consultants handle all distribution channels and all product lines.
Each district director will manage one indexed annuity specialist, one new senior indexed annuity specialist, and from 12 to 13 external retirement consultants.
Allianz Life also has created a position – senior vice president—head of investment relations and fee-based distribution – for an executive who will oversee sales and profitability of fee-based products sold through all distribution channels. The senior vice president also will manage Allianz Life’s fund partner relationship strategy.
– Warren S. Hersch
