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Dresdner bids for IFA boost

Dresdner RCM Global Investors is restructuring its UK retail business and creating a dedicated IFA support team in advance of a rebrand in the first quarter of 2003.

The German fund manager, which plans to change its name to Allianz Dresdner Asset Management, is spending £1m in a bid to triple funds from £1.2bn to £3.6bn within five years.

It has invested in a new internet-based customer management system to boost its sales and support division, which has been split into three parts – regional sales, investor services and IFA Direct, a dedicated phone, internet and email-based service for IFAs. It has brought in a “substantial” bonus system for sales staff.

Dresdner says it aims to bolster relationships with mid-ranking IFA companies. It admits it has neglected these firms since losing several high-profile managers in 2000 in the fallout from the technology collapse.

The divisions will be run in the same way as Dresdner&#39s institutional business, which has historically been the fund manager&#39s main focus.

Head of retail sales & marketing Nick Smith says: “We can learn from our success in the institutional market and apply some of the key elements to the retail market.”

Hargreaves Lansdown investment manager Ben Yearsley says: “Dresdner has been shocking over the past couple of years so it is good to see them putting in the resources to try and catch up with other fund managers.”

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