Third-Largest Closed-End Fund Data Provider is Looking to Grow

Closed-end funds may not be as popular as traditional mutual funds and hedge funds, but their benefits should not be underestimated. Those who have taken advantage of this unique investing option have found it to be extremely valuable.

John Cole Scott, the Portfolio Manager and Executive VP of Closed-End Fund Advisors, Inc. (CEFA), is especially aware of the benefits that these funds can provide. As the leader of the nation’s third-largest provider of closed-end fund data, Scott holds the FINRA 66 Security Licenses and has earned the designation of Certified Fund Specialist (CFS).

Now Scott is looking to take his firm to the next level by bringing in new talent.

“Some of it is confidential, but we are looking to grow both our assets and manager availability,” he told StreetID. “We are plotting out the path of when do we hire more internal folks to help us with some of the data and research, which is a big part of what we do.

“At a certain point we’ll want to a hire a more institutional sales person — someone that can take what we’re doing and go to the right places and say, ‘Hey, do you need our expertise? Let’s set up a meeting and figure it out.’”

Scott said that CEFA is also looking at acquiring or hiring “advisors or firms that are closed-end fund-heavy but maybe don’t have a transition plan.”

“If we like the way they manage money, we maybe have the chance to work with them,” he added. “We feel that we’ve developed a good system of infrastructure, a good system of research, a good environment to be a closed-end shop.”

Ultimately, Scott will “talk to anyone who’s interested.”

“An idea for growth is to allow them to work under our umbrella and to have a place to create a transition plan for their business — to create an environment where we can take some of the compliance and research workload off of them and have them join our team,” Scott explained.

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