Cohen & Steers Inc., an investment manager specializing in real assets and alternative income, has appointed Daniel Noonan to lead its efforts to increase its distribution in the wealth space.
Noonan joins Cohen & Steers as executive vice president and head of the firm's wealth management advisory group. Noonan will lead teams focused on the RIA, broker/dealer, US private bank, multifamily office, OCIO and retirement channels. He reports to Dan Charles, Cohen's head of global distribution.
Noonan fills the void created when Cohen's previous wealth channel head, Kimberly LaPointe, left the firm in February for a similar role with Macquarie Asset Management.
Noonan joins Cohen & Steers with over 20 years of financial services experience. He most recently served as senior managing director and head of the enterprise wealth and private equity group at Nuveen. Prior to joining Nuveen in 2022, he worked at PIMCO as executive vice president and head of ETF sales and at State Street Global Advisors as managing director and head of wealth management sales.
“Our Wealth Management Consulting Group continues to be a key driver of organic growth for our firm as we innovate new strategies and solutions for real assets and alternative income,” Cohen & Steers Global Head of Distribution Dan said in a statement Charles. “Dan's experience. particularly within the private wealth channel, will be critical as we expand our firm's capabilities in both listed and private real estate.”
Similar to other asset managers, Cohen & Steers has focused on expanding its offerings for the wealth channel.
“We see an opportunity for financial advisors and their clients to embrace real assets in the new macroeconomic regime characterized by higher inflation, higher interest rates and increased market volatility,” the CEO and President said in a statement. of Cohen & Steers, Joe Harvey.
Cohen & Steers began building its private wealth solutions business when it hired John Moore and launched a non-traded REIT, CNSREIT, in 2023. The REIT acquired its first property in early 2024, an aerial shopping mall opened in a suburb of Dallas.
This year Cohen & Steers also launched a proprietary tool, real estate compass, designed to help financial advisors improve portfolio risk-return profiles by showcasing the potential benefits of listed and private real estate allocations in a portfolio. (The compass is named a finalist for the 2024 WealthManagement.com Industry Awards in the real estate category (including REITs).)
Finally, in April, she started her Future Energy Strategy and converted the Cohen & Steers MLP & Opportunity Energy Fund (NYSE: MLOIX ) to the Cohen & Steers Energy Futures Fund, focused on providing allocations to traditional and alternative energy.