Highline Media L.L.C., a leading provider of information for the insurance industry and other financial services industries, today announced that it has acquired Wealth Manager magazine from Bloomberg L.P. [@@]
Terms of the transaction were not disclosed.
“We are excited about the opportunities that owning Wealth Manager opens up to us,” says Andrew L. Goodenough, president and chief executive officer of Highline, New York.
“For a number of years, the product set and customer base at the Highline companies have expanded beyond a traditional insurance footprint, driven largely by the rise of annuities, an insurance company invention with both security and insurance attributes. Increasingly our customers have been in the broader spectrum of the financial services distribution chain, to include financial advisors, financial planners, investment managers and registered representatives.
“Wealth Manager, with its superb reputation in the marketplace among the most sophisticated financial advisors, gives us a powerful entr?e to this select group. We intend to continue the fine tradition of the magazine == especially with its unparalleled quality of editorial content and graphics presentation == here at Highline.”
Wealth Manager now reports to Thomas A. Fowler, vice president and group publisher of the Financial Magazine Division at Highline. Before joining Highline in 2004, Fowler was head of the investment management group at Thomson Media, New York, including such titles as Financial Planning, On Wall Street, Securities Industry News and Bank Investment Consultant. The magazine’s staff will be moving to Highline’s offices in Hoboken, N.J., by mid-October.
Fowler has named Richard Koreto to be editor of Wealth Manager, effective with the November issue, in addition to Koreto’s responsibilities as editor of Advising Boomers, a quarterly magazine launched in May that aims at the broad spectrum of financial professionals advising the baby boom generation. Koreto was formerly executive editor of Financial Planning magazine.
Along with the magazine, Highline has acquired the Web rights to Wealth Manager and a companion book series.