Cohen & Steers Inc., an funding supervisor specializing in actual belongings and various revenue, has named Daniel Noonan to guide its efforts to develop its distribution within the wealth area.
Noonan joins Cohen & Steers as govt vp and head of the agency’s wealth administration consulting group. Noonan will lead groups centered on the RIA, dealer/seller, U.S. personal financial institution, multi-family workplace, OCIO and retirement channels. He experiences to Dan Charles, Cohen’s head of world distribution.
Noonan fills the void created when Cohen’s earlier wealth channel head, Kimberly LaPointe, left the agency in February for the same function with Macquarie Asset Administration.
Noonan joins Cohen & Steers with over 20 years of economic providers expertise. He most lately served as senior managing director and head of enterprise wealth and the personal capital group at Nuveen. Previous to becoming a member of Nuveen in 2022, he labored at PIMCO as govt vp and head of ETF gross sales and at State Road International Advisors as managing director and head of wealth administration gross sales.
“Our Wealth Administration Consulting Group continues to be a key natural development driver for our agency as we innovate new methods and options throughout actual belongings and various revenue,” Cohen & Steers Head of International Distribution Dan Charles stated in a press release. “Dan’s expertise, notably throughout the personal wealth channel, shall be vital as we develop our agency’s capabilities throughout each listed and personal actual property.”
Much like different asset managers, Cohen & Steers has centered on increasing its choices for the wealth channel.
“We see a chance for monetary advisors and their shoppers to embrace actual belongings within the new macroeconomic regime characterised by greater inflation, greater rates of interest and elevated market volatility,” Cohen & Steers CEO and President Joe Harvey stated in a press release.
Cohen & Steers started constructing out its personal wealth options enterprise when it employed John Moore and launched a non-traded REIT, CNSREIT, in 2023. The REIT acquired its first property early in 2024, an open-air buying heart in a Dallas suburb.
This 12 months the Cohen & Steers additionally launched a proprietary device, the Actual Property Compass, designed to assist monetary advisors enhance portfolio risk-return profiles by displaying the potential advantages of listed and personal actual property allocations in a portfolio. (The compass has been named a finalist for the 2024 WealthManagement.com Business Awards within the Actual Property (Together with REITs) class.)
Lastly, in April, it launched its Way forward for Vitality technique and transformed the Cohen & Steers MLP & Vitality Alternative Fund (NYSE: MLOIX) to the Cohen & Steers Way forward for Vitality Fund, centered on offering allocations to each conventional and various power.
