Allianz Life Insurance Company of North America said Monday that the company is adapting its Broker/Dealer Distribution team to align with the changing dynamics of the industry.
“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, in a statement. “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.”
Allianz Life said that its external and internal retirement consultants (formerly 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. “External retirement consultants will continue to be responsible for managing relationships and driving sales within their territories, and internal retirement consultants will continue to provide support to external retirement consultants, but across all distribution channels and product lines,” the company said.
To address this new focus, each district director will now have one fixed index annuity specialist, one new senior fixed index annuity specialist, and 12 to 13 external retirement consultants reporting to them, Allianz Life said. The five district directors will continue to report to Senior VP and National Sales Manager Bob Densmore. Those five directors are: Chris Carnal, West region; Sheila Soukup, Central region; Michael Baney, Northeast region; Michael Pierce, Southeast region; and one yet-to-be named district director for the Great Lakes region.
Corey Walther has been promoted to the newly created position of senior VP 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 ALFS’s investment (fund partners) relationship strategy, Allianz Life said.