By Cyril Tuohy
Tom Hirschmann, a former senior manager for Legg Mason, has been appointed president and chief executive officer of Sentinel Financial Services Co., Sentinel’s parent National Life Group has announced.
Hirschmann will be responsible for helping financial advisors increase sales of Sentinel’s mutual funds and investment products through wirehouses, regional and independent broker/dealers, and registered investment advisors (RIAs).
“I am confident we can expand Sentinel’s presence in the marketplace and deliver strategies to help financial advisors address their clients’ needs,” Hirschamnn said in a press release.
Sentinel Financial is the mutual fund, retirement plan and institutional investment management affiliate of National Life Group.
Hirschmann’s appointment is the latest announcement in a series of changes affecting the distribution of life and investment products for National Life Group.
Earlier this year, National Life Group announced the promotions of Pam Blalock to senior vice president, career distribution, and of Louis Puglisi and Matt DeSantos to senior vice president, independent distribution.
Blalock joined National Life in 2012 as a vice president and regional distribution officer in National Life’s career agency network.
Puglisi has been at National Life since 2005 in a distribution leadership role, the company said. DeSantos joined in 2005 as vice president of marketing and then stepped into a new role overseeing strategic accounts and business development.
The company also announced that over the past six months, new general managers have been appointed to agencies of National Life Group in California, North Carolina, Pennsylvania and Texas.
In April, National Life announced that John P. Fountain had been appointed general manager of Inland Empire Agency in Southern California, David Bostick a general manager in National Life’s new Dallas-Fort Worth agency, and John C. Gibson general manager in the company’s Charlotte, North Carolina, agency.
In March, Jim Clary was appointed general agent of National Life’s Philadelphia agency, overseeing other agents in the region.
“The success of National Life Group depends on our ability to grow and sustain a strong distribution system,” CEO Mehran Assadi, said in a news release issued earlier this year announcing the Blalock, Puglisi and DeSantos promotions.
“Our distribution channels are more robust, more diversified and more effective than at any time in the company’s recent history, and our results show it.”
National Life reported 2013 net income of $142.4 million, up 14 percent from 2012, on revenues of $2 billion.
Last year total assets under management hit $30.4 billion and insurance in-force reached $75 billion, the company also said.
Cyril Tuohy is a writer based in Pennsylvania. He has covered the financial services industry for more than 15 years. Cyril may be reached at [email protected].
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