Bill Wendel joined Advisors Asset Management as managing director, head of institutional and alternatives.
It is a new position, and Mr. Wendel reports to Cliff Corso, president and CIO, the news release said. He will be based in Princeton, N.J., spokesman Matthew Bono said in an email.
Mr. Wendel will "spearhead the firm's efforts to design and deliver a number of adviser-friendly products and solutions for alternative investments," said a news release Thursday.
"One of the biggest challenges that advisers face in today's market is the search for income and diversification," Mr. Wendel said in the release. "Alternative investments offer a potential solution for income that has been available to institutions for decades, but access has been limited within the intermediary channels. Renewed interest in existing registered product solutions, as well as technology to ease operational hurdles, are expanding adviser access to alternative products."
Mr. Wendel previously served as senior vice president, financial institutions group at BNY Mellon Investment Management. BNY Mellon spokeswoman Courtney Woolston said in an email that Mr. Wendel left the firm at the end of March and his responsibilities are being managed by the financial institutions group, led by Dawn Tutje.
AAM's brokerage and advisory business represented about $44 billion in assets as of March 31.