Manager of popular Wells Fargo dividend strategy jumps to Dearborn

Carol Lippman, a former senior portfolio strategist at Wells Fargo Advisors, left the firm last Friday to join Dearborn Partners LLC.
Ms. Lippman, a 31-year veteran who started as an analyst at A.G. Edwards & Sons Co. in 1980, managed a popular rising-dividend-equity strategy at Wells Fargo, the Diversified Stock Income Plan.
The DSIP was a list of stocks brokers could follow; since 2005 it has been offered as a separately managed account.
Ms. Lippman said the SMA held about $4 billion when she left Wells Fargo last week.
At Dearborn, she will manage two separately managed account products.
“Over the last several years I’ve just wished to move to [the] buy side” from the sell side where the ability to run money is limited, Ms. Lippman said.
She said she got to know one of Dearborn’s founding partners, Wayne Stevens, when he was head of research at Duff & Phelps Corp. and she was a young analyst at A.G. Edwards.
“Wayne taught us rookies about the markets,” she said.
Ms. Lippman said she will remain in St. Louis, but make frequent trips to Dearborn’s Chicago headquarters.
The two Dearborn strategies she will run, the Core Rising Dividend Portfolio, and the High and Rising Dividend Portfolio, will be available in October.
Dearborn manages $2.1 billion for high-net worth clients and institutions.
Wells Fargo spokeswoman Rachelle Rowe said the firm’s DSIP strategy has not changed.

Related Topics: Wells Fargo & Co.