Deals & People October 1, 2008

Mercer Adds to Outsourcing Biz

Mercer enhanced its current participant education offering by partnering with independent financial services expert Robert Powell.
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Mercer said that as an added-value service from Mercer’s outsourcing business, Powell will meet with clients’ retirement plan participants to offer them a “deeper understanding of a variety of retirement topics.” According to the announcement, the service complements Mercer’s team of on-site Employee Education Consultants, who currently offer information on subjects ranging from basic enrollment and diversification to more advanced planning for near-retirees.

Through in-person presentations and webcasts, Powell will explore a variety of retirement topics with those interested in more specialized information. Mercer said this service may be appropriate for companies with employees who are interested in market perspectives, financial analysis, and industry trends, as well as employees approaching retirement or retirees who need strategies to help plan or manage distributions from their 401(k)s, IRAs, and pensions.

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Powell’s experience includes serving as president of Unison Associates LLC, a Salem, Massachusetts-based financial education, communication, and consulting firm. He is also Editor of MarketWatch’s Retirement Weekly newsletter, Editorial Director for the PBS television documentary Making Your Money Last a Lifetime in Retirement, and a content and consulting services expert for the Financial Planning Association, the Retirement Income Industry Association, and the California Institute of Finance.

“Partnering with someone of Bob’s experience, renown, and practical approach underscores Mercer’s commitment to providing plan sponsors with the resources to not only educate their employees, but provide them with realistic ways to help employees better prepare for retirement,’ explained Eric Levy, Worldwide Partner, Retirement Business Leader for Mercer’s outsourcing business.

Deals & People September 30, 2008

Harrington’s In For Retirement at LPL

Beginning Monday, Bruce Harrington is LPL Financial's new SVP of retirement solutions.
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Earlier this month, speaking at the PLANADVISER National Conference, Kevin Keefe, SVP of Financial Planning at LPL, hinted the firm was ready to commit to the retirement plan space, saying the firm had hired a new “general of retirement,’ but was not yet ready to share his name.

Referring to the recent enhancements to the fee-based side of LPL’s business (see LPL Expands in RIA, Hybrid Markets), Keefe said LPL, despite not being laser focused on retirement plans in the past, “will be a player in 2009 and beyond.’

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The firm recently partnered with Ascensus and 401(k) Advisors to deliver Fiduciary Advisor 401(k), a suite of retirement plan services, featuring an investment platform, full-fee disclosure, and fiduciary protection (See Three Firms Link Up to Offer Fiduciary Product).

Harrington was most recently managing director at Cogent Research, a Cambridge, Massachusetts-based a market research and consulting firm (see Bruce Harrington Moves to Cogent Research) after serving eight years as vice president and director of product development and marketing for MFS Investment Management.

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