LPL Launches Retirement Plan Program
LPL Financial Corp., an independent broker-dealer, has created the Retirement Plus Program to expand its services and support for independent financial advisors focused on the retirement market.
The new program is based on relationships with CPI Qualified Plan Consultants, Guardian Retirement Services, ING and the Principal Financial Group.
The Retirement Plus Program is being offered through LPL's recently formed Retirement Plan Consulting Group. It will enable financial advisors to work with companies so the companies' employees can better invest and plan for retirement. The program will be available through both employer-sponsored plans and other types of plans.
A wide array of retirement plan products will be provided, as well as record-keeping and plan administration services. The other firms contributing to the program will work with LPL Financial advisors to provide enhanced training and marketing support. The new program will also provide independent advisors with tools and technical support to serve their clients in the retirement space so they can broaden their overall business.
"We are committed to providing our advisors with the tools and training they need to capitalize on demographic trends," says Bruce Harrington, LPL Financial senior vice president of retirement solutions.
Additional information can be found at www.lpl.com.
MassMutual Captures Retirement Sales
MassMutual's Retirement Services Division achieved its largest sales, based on assets, in 401(k) investments during the second quarter of 2009, according to the LIMRA International 401(k) Scorecard.
MassMutual experienced a 172% increase in 401(k) sales from the second quarter of 2008, capturing the highest share among 16 participating providers. MassMutual has also seen a 51% increase in sales so far in 2009 from the same year-to-date sales last year.
MassMutual's Retirement Services Division has approximately one million participants.
Morristown Financial Helps With Compliance
For advisors who have recently gone independent, Morristown Financial Group is launching Advisor AdvantEDGE, a service that will help them transition to the independent model. Advisor AdvantEDGE will help newly independent advisors with compliance requirements, back office support and supervisory issues.
Morristown Financial Group is an independent financial practices support organization in Morristown, N.J. Additional information can be found at www.mfgnj.com.
SAM Adds Sustainable Investments
SAM, a boutique investment firm that focuses on sustainability investing, along with Dow Jones Indexes and STOXX Ltd., has reviewed the
Dow Jones Sustainability and Dow Jones STOXX Sustainability indexes and added or deleted nearly 70 companies.
Among the largest companies that have been added to these indexes are Johnson & Johnson, Coca-Cola and Samsung Electronics. Among the largest deleted were National Grid, Mitsubishi Estate and SABMiller. The review also added and deleted companies from other Dow Jones sustainability indexes.
The review is performed to find the best-in-class leaders for the indexes. Additional information can be found at www.sustainability-indexes.com.
EPH China Fund Is Created
Halter Financial Investments L.P. and Euro Pacific Capital Inc. are launching the EPH China Fund, a mutual fund designed to give investors access to companies doing business in China.
Halter Financial is a consultant and money manager with operations in the United States and China. Euro Pacific Capital is a U.S. retail brokerage firm. The new mutual fund targets equities benefiting from the strong Chinese economy. Additional information can be found at www.ephasiafunds.com.
USI Consulting Offers Retirement Accounts
USI Consulting Group, a benefits consulting firm, is now offering managed retirement accounts through Morningstar Retirement Manager. USI has been offering online investment advice and research to 700 retirement plan sponsors since 2001. The new discretionary accounts are designed to help plan sponsors provide participants with help in choosing or managing their investments.