Penton Announces Investment in AIQ, Inc., Wealth Management Business
Exclusive Pact with Meridian-IQ Product Line To Boost Product Development for Registered Rep and Trusts & Estates
NEW YORK, Dec. 6, 2010 /PRNewswire/ -- Penton CEO Sharon Rowlands announced today that the company has made an investment in AIQ, Inc. AIQ has developed a proprietary database of 2.1 million financial advisors in the U.S. called Meridian-IQ (www.meridian-iq.com).
"We are certain that our investment in AIQ and our new strategic alliance will be a very important cornerstone in building out Penton's Wealth Management Group," said Rowlands. "Registered Rep and Trusts & Estates are our two businesses in this space and access to and collaboration with this dynamic database on an exclusive basis is quite significant to our growth."
"The database is the most up-to-date and robust in the advisory space," said Nicholas W. Stuller , president and CEO of AIQ, Inc. "The investment by Penton and our strategic relationship will help us collectively develop new products and add new functionality."
"Penton's Wealth Management Group is focused on enabling advisors to improve their skills and offerings to clients," said Warren Bimblick , senior vice president, strategy and business development at Penton. "We help marketers reach advisors and this alliance will enable us to help them target so much better through our publications, websites, education offerings, customized marketing programs and research."
The database includes wirehouse advisors, independent advisors, registered investment advisors (RIAs), insurance advisors and trust officers, as well as senior management at these firms. Penton will utilize this database to service the full advisory market and targeted client research.
As part of the alliance, Penton will become a reseller of the Meridian-IQ database to clients. William O'Conor, vice president of Penton's Financial Services Group will become a member of the AIQ, Inc. board of directors.
As a leading, independent, business-to-business media company, Penton knows business and how to create and disseminate the vital content that moves markets. Penton is where professionals turn to gain the critical insight, expert analysis, and relevant connections needed to compete and succeed. Headquartered in New York City, the privately held company is owned by MidOcean Partners and U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co., LP, and its co-investors. For additional information on the company and its businesses, visit www.penton.com.
About Registered Rep:
Registered Rep. is the industry source for investment professionals. Each monthly issue reaches more than 95,000 subscribers who control trillions of dollars of assets for more than 30 million investors. These powerful financial advisers are licensed to sell a broad range of investment products and rely on Registered Rep.'s portfolio of timely features, articles, departments and columns. For more information on Registered Rep, visit www.registeredrep.com.
About Trusts and Estates:
Trusts & Estates is the wealth management journal for advisors to high-net-worth individuals, families, and institutions. Since 1904, the Trusts & Estates portfolio of leading print and digital media products published the works of top practitioners through peer-reviewed articles written by and for leading advisors in the wealth management industry. For more information on Trusts & Estates, visit www.trustsandestates.com.
About AIQ, Inc.:
AIQ, Inc. produces the Meridian-IQ suite of Advisor database directories. They are the newest, deepest and most up-to-date database of Advisors on the market.
Meridian-IQ represents the next-generation sales and marketing workflow engine, incorporating the most accurate Advisor databases, time management tools, and business planning software. Meridian-IQ was developed by a team of financial services industry professionals who have decades of experience working with hundreds of financial institutions. AIQ, Inc. has a specific focus of helping firms use data and tools to target, identify, and connect with Financial Advisors.
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