Cohen & Steers Inc., an investment manager specializing in real assets and alternative income, has named Daniel Noonan to lead its efforts to grow its distribution in the wealth space.
Noonan joins Cohen & Steers as executive vice president and head of the firm’s wealth management consulting group. Noonan will lead teams focused on the RIA, broker/dealer, U.S. private bank, multi-family 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 enterprise wealth and the private capital 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 organic growth driver for our firm as we innovate new strategies and solutions across real assets and alternative income,” Cohen & Steers Head of Global Distribution Dan Charles said in a statement. “Dan’s experience, particularly within the private wealth channel, will be critical as we expand our firm’s capabilities across 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,” Cohen & Steers CEO and President Joe Harvey said in a statement.
Cohen & Steers began building out 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 early in 2024, an open-air shopping center in a Dallas suburb.
This year the Cohen & Steers also launched a proprietary tool, the Real Assets Compass, designed to help financial advisors improve portfolio risk-return profiles by displaying the potential benefits of listed and private real estate allocations in a portfolio. (The compass has been named a finalist for the 2024 WealthManagement.com Industry Awards in the Real Estate (Including REITs) category.)
Lastly, in April, it launched its Future of Energy strategy and converted the Cohen & Steers MLP & Energy Opportunity Fund (NYSE: MLOIX) to the Cohen & Steers Future of Energy Fund, focused on providing allocations to both traditional and alternative energy.