Rydex Aims for Indie Brokers
October 22, 2001
Rydex Funds has always looked to leverage the Internet for its business. So it should come as no surprise that the latest overhaul of its site for financial planners also paves the way for a focus on the independent broker-dealer.
"We honestly believe that our next thrust is in the broker-dealer realm," said Kevin Farragher, VP, e-Enterprise at Rydex. "You can certainly say that this is probably one of the first broadsides in what you would see in an ongoing effort to capture the independent broker-dealer marketplace."
Currently, 35% to 40% of the firm's assets come from RIAs, with another 30% from the broker-dealer market. The remaining 30% to 35% comes in the form of direct market accounts. Rydex sees its updated site as a carrot for independent broker-dealers."The way we're built to do business comforms nicely to the way they interface," Farragher said. "I think that there are resources, be they Web-based or otherwise, that you can make available to the general population of carriers and let them use as they see fit."