Roberto Roffo, a 20-year asset management veteran, has joined Advisors Asset Management as a senior vice president and portfolio manager as the firm plans to enhance its tax-exempt management initiatives.
The Monument, Colo.-based firm,which provides investment products and support services to financial advisors, made the announcement in a press release last week. Roffo joined the company’s Princeton, N.J., office effective May 13, according to a public relations representative for the firm.
The appointment will allow the firm take advantage of a growing demand for municipal bonds among the financial advisors that use its investment products and support services, according to its chief executive officer, Scott Colyer.
“Advisors are continually looking for ways to provide income to their clients, and are also bracing to prepare portfolios for a rising interest rate environment over the next few years,” said Colyer, who is also the chief investment officer. “Roberto will be instrumental in building out income solutions for that environment, using his deep industry knowledge to help advisors brave the impending rising rate storm with municipal bonds.”
Under Roffo’s guidance and expertise, the firm intends to expand its current offerings of analytic, portfolio strategy, educational, and technology tools as well as build new strategic initiatives for financial advisors, Colyer said in a press release.
Roffo will be working with financial advisors who have high net worth clients who are seeking strategies to minimize taxes and reduce volatility. He will oversee a staff of two, and report to Jim Costas, senior executive vice president of fixed-income product management.
“I’m thrilled to be joining the seasoned and insightful team of fixed income experts at AAM, and to be responding to the growing interest in tax-exempt, municipal strategies in this challenging market,” Roffo said in the release. “I see the demand for municipal bonds building as investors seek out new strategies to avoid higher tax rates and minimize volatility.”
Prior to joining AAM, Mr. Roffo was the Managing Director and senior portfolio manager of SMC Fixed Income Management LP for seven years, during which time he assisted in the development of the largest municipal fixed income offering for a unit investment trust,the Insured Tax Exempt Municipal (“ITEM”) Portfolio, of which AAM was the product sponsor and primary distributor.
Roffo began his asset management career in 1989 at State Street Bank in Boston. He previously served as managing director at Claymore Advisors, and director for Merrill Lynch Asset Management, where he was recognized by Lipper Analytical as a top-performing fund manager from 1998 to 2002.
AAM offers advisors access to the fixed income markets, as well as portfolio analytics, UITs, structured products, separately managed accounts and mutual funds. The firm has 10 major offices across the nation and partners with more than 90 broker-dealers.