Business media giant Dow Jones just created an independent wealth and asset management unit, led by a Barron's veteran. Yet fundsters may not see many changes.

Earlier this month Sterling Shea, formerly associate publisher and head of advisory and wealth management programs at Dow Jones' Barron's magazine, became Dow Jones' first ever global head of wealth and asset management. Jack Otter, former interim chief editor at Barron's, now serves as global chief editor of wealth and asset management.

Shea reports to Alma Latour, publisher and executive vice president of Dow Jones Media Group. Shea now leads a team of about dozen people, he confirms, and he's in the process of hiring for "several new roles" in asset manager relationship management and "experience development".

Yet from the perspective of asset managers who work with Barron's and other Dow Jones publications, this is "more of a back-of-the-house realignment." Barron's will keep its brand on their advisor lists, but Shea's team will be able to publish content across other Dow Jones publications, too, including the Wall Street Journal. And the realignment will be "a springboard for ... international expansion," Shea says.

"This was a long time coming," Shea tells MFWire. "[This is] a good next step for our team that has been embedded in Barron's for 12 years."

Looking ahead, Shea's team will do bring the Barron's advisor rankings to the United Kingdom. And they'll be expanding their U.S. program, including with a new conference focused on ESG investing.

Shea, an alumnus of both Boston College and Harvard, has been working with Barron's for 20 years.

Otter, an alumnus of Middlebury College, joined Dow Jones in 2012. Prior to that he worked with CBS, Smart Money, Hearst, Newsday, and a radio station and a newspaper in East Hampton. 

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