Investor-favorite American Funds will open a fifth service center in the Phoenix area by the end of this year. The firm expects to have 100 staffed at the center by mid next year, said spokesman Chuck Freadhoff.

American Funds officials are opening the center to cope with the fund firm's growth. Currently, three of the four existing service centers are at capacity, said Freadhoff.

A job advertisement on the Capital Group website attributed the new service center to growth in new shareholder accounts.

According to the ads, the positions open are in customer service, human resources, and information technology.

Officials chose the Phoenix area because of the labor pool, the attractiveness of the city, and to have a service center in each of the four time zones, said Freadhoff.

The firm's other service centers are in Indianapolis, Indiana; Brea, California; Hampton Roads, Virginia; and San Antonio, Texas.

The service center staff will field calls from individual investors and financial advisors, said Freadhoff. 

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