Allianz Life Names New President and CEO

Allianz Life Insurance Company of North America named Walter White as president and CEO, effective January 1, 2012. 

White succeeds Gary C. Bhojwani, who will become Chairman of Allianz Life and assume responsibility for the U.S. insurance operations of Allianz on the Board of Management of Allianz SE, Munich. White joined Allianz Life in 2009 as chief administrative officer responsible for Compliance, Information Technology, Operations and Suitability. White’s appointment is subject to approval by the Board of Directors of Allianz Life.  

Prior to joining Allianz Life in 2009, White was president of Woodbury Financial Services (Hartford Life’s independent broker/dealer). He led the formation of Woodbury Financial after Hartford Life purchased Fortis Financial Group, a financial services, insurance and investment company, in 2001. At Fortis, White held senior leadership positions in operations, finance, marketing and sales. Before joining Fortis, White was also president of MONY Brokerage, the MONY Group’s life insurance brokerage subsidiary.  

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White holds a B.A. from Yale University and an MBA from The Wharton School at the University of Pennsylvania. He holds a Chartered Life Underwriter (CLU) designation.  

401k ProAdvisor Offering 408(b)(2) Support for Sponsors

401k ProAdvisor is providing fiduciary reviews and cost analysis to assist retirement plan sponsors in evaluating upcoming fee disclosure information.

401k ProAdvisor, a division of Wealth & Pensions Services Group (a registered investsment adviser), has developed the 408b2 Rules Kit, designed to take the burden off plan sponsors of evaluating fee disclosure information they will be receiving from service providers in 2012. The company will help sponsors identify fiduciary breaches, conflicts, cost control issues and highlight areas that need additional fiduciary follow-up.  If necessary, 401k ProAdvisor can negotiate fees across service providers to meet the test of reasonable compensation.  

“As a fiduciary, the plan sponsor is duty-bound to understand, review and monitor this newly disclosed information,” says William Kring, CFP designee and chief investment officer of Wealth & Pension Services Group, Inc. and founder of 401k ProAdvisor. The company notes that plan sponsors are required under the Employee Retirement Income Security Act (ERISA) to employ outside assistance when needed.  

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More information is available at http://401kProAdvisor.com.  

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