Slideshow Top Program Managers by AUM Growth

Published
  • June 06 2013, 3:09pm EDT
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Top Program Managers by AUM Growth

Here we present yet a new look at our Top 20 Program Managers list, reshuffled and ranked by percentage increase in team AUM (and then we cut it down to just the top 10). The main list in May used a composite score using multiple variables. Beside each name listed here, we show where they ranked in the main top-20 list.

Since the main listing in May, we’ve also listed our managers by number of full-time advisors on their teams. Be on the lookout in coming weeks as we offer new views based on the other metrics from the main list.

In case you missed it, here’s the original list.

And here’s the list by number of FAs.

<b>10. Kevin Walrath (16)</b>

Bank: Northwest Federal Credit Union

Location: Herndon, Va.

TPM: LPL Financial

% Increase in team assets: 23%

Team AUM (at year-end 2012): $724 million

Kevin Walrath has helped Northwest Federal CU build a diversified wealth management program. And while it’s come a long way, this is just the first stage of its evolution. The bank has committed to the advisory model and embraces a fiduciary responsibility toward clients. The bank owes its success to the trust that clients have in advisors.

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<b>9. Joe Devine (11)</b>

Bank: Fairwinds Credit Union

Location: Orlando, Fla.

TPM: CUSO Financial Services

% Increase in team assets: 27%

Team AUM (at year-end 2012): $258 million

In a region that has seen foreclosures and layoffs, Joe Devine’s team has spent a great deal of time on investor education, while also integrating the investment program into the core offering of the credit union. Among other things, they have revamped their website and increased referrals by instituting a compensation incentive program.

<b>8. Mike Haggerty (12)</b>

Bank: Community America Credit Union

Location: Lenexa, Kan.

TPM: CUSO Financial Services

% Increase in team assets: 33%

Team AUM (at year-end 2012): $350 million

When Mike Haggerty became program manager in 2006, he began educating executives on the potential ROI of the program, and now investments are tracked as one of the six core offerings at the CU. Other efforts are as varied as creating a center for families with special-needs members, and shifting toward a younger client demographic for long-term sustainability.

<b>7. Jules Mbogi (14)</b>

Bank: United Nations Federal Credit Union

Location: New York

TPM: Raymond James

% Increase in team assets: 35%

Team AUM (at year-end 2012): $172 million

Jules Mbogi brings more than 14 years of experience in international wealth management to the UN, where he heads a team of multilingual advisors. His areas of expertise include international portfolio management, investment, retirement, and estate and insurance planning. Previously, he was an advisor at Citigroup’s international division.

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<b>6. Robert Leach (17)</b>

Bank: Heritage Bank of the South

Location: Albany, Ga.

TPM: LPL Financial

% Increase in team assets: 37%

Team AUM (at year-end 2012): $253 million

Robert Leach spent the first eight years or so at Heritage Bank as the sole producer before he started to slowly hire advisors in key markets served by his bank. He still gets in the office every day at 6 a.m. to make calls from lists the bank provides or make calls to companies he works with on their 401(k) plans.

<b>5. Leo Iacobelli (2)</b>

Bank: ESL Federal Credit Union

Location: Rochester, NY

TPM: LPL Financial

% Increase in team assets: 45%

Team AUM (at year-end 2012): $802 million

One of the biggest changes that Leo Iacobelli, president of ESL Federal Credit Union’s investment program, has witnessed over the years is the greater emphasis today that clients place on trust. When he started at ESL in 1997, clients were concerned with getting the best returns, he says. Today, they want to work with someone they trust and who they feel is aligned with their best interests. Working for a credit union helps with the trust issue, but it also carries a responsibility to maintain what has been sustained over 90 years, he says.

<b>4. Aaron Persons (15)</b>

Bank: University Federal Credit Union

Location: Austin, Texas

TPM: CUSO Financial Services

% Increase in team assets: 54%

Team AUM (at year-end 2012): $174 million

When Aaron Persons became program manager at University Federal CU in 2010, production was low, turnover high and branch employees had lost faith in the program. To better integrate the program into core offerings, he promoted a “give to get” mind-set where advisors should be the ones giving referrals. He also empowered reps to make decisions.

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<b>3. Paul Restante (5)</b>

Bank: Community Bank, N.A.

Location: DeWitt, NY

TPM: Invest Financial

% Increase in team assets: 66%

Team AUM (at year-end 2012): $1.0 billion

What drives the success of a bank program? Advisors who view it as an opportunity to grow their own business, says Paul Restante, program manager of Community Bank in upstate N.Y. “Reps need to have ownership of their programs,” he says. That’s the mind-set that he looks for when recruiting, which can be difficult in remote DeWitt, N.Y. With work, he says he now has that all-important support from management. “We had to prove to them that we’re a significant part of the overall bank offering, and we’ve gotten to that point now,” Restante says.

<b>2. Glenn Brodwater (4)</b>

Bank: Investors Bank

Location: Short Hills, NJ

TPM: Essex National Securities

% Increase in team assets: 193%

Team AUM (at year-end 2012): $182 million

It was only in June 2011 that Investors Bank launched its investment program. But it’s been tremendously successful so far, largely because of the support and backing of senior management, says Glenn Brodwater, vice president and director of retail investment services. He emphasizes teamwork to the point that he lets it guide his hiring decisions. If an advisor prefers to work independently, he or she isn’t a good fit for the bank, he says.

<b>1. Britt Woods (1)</b>

Bank: Fifth Third Bank

Location: Nashville, Tenn.

TPM: none

% Increase in team assets: 246%

Team AUM (at year-end 2012): $640 million

In three years, Britt Woods accomplished as much as many program managers achieve in an entire career. He built two new programs in Tennessee and Georgia from scratch, making each a top producer, and then turned around a failing program in Kentucky within a short period of time. He attributes his success to his management style and people skills. He knows his advisors personally, learning as much as he can about their backgrounds, so he can assign them to the right territories. “If you have someone who... comes from a blue-collar background, you need to make sure they’re in a blue-collar market,” he says.