Deals & People September 21, 2007

Bank of America Names Carey as New Retirement Solutions Head

Bank of America has appointed Bill Carey, formerly of Fidelity Investments, as national executive of Business Retirement Solutions.
Reported by

For Bank of America, Carey will oversee the development and delivery of 401(k), defined benefit, and institutional custody solutions to clients.

He will work within the newly formed Bank of America Retirement and Global Wealth & Investment Management (GWIM) Client Solutions Group and will report to Cary Grace, Mid-Market Institutional executive.

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Carey most recently led National Accounts for Fidelity Investments Institutional Services Company, where he was responsible for institutional relationship management, registered investment advise services, investment consulting services, and consultant relations.

He joined Fidelity Institutional Retirement Services Company (FIRSCo) in 1993 as national sales manager for FIRSCo’s Emerging Corporate Market.

In 2003, he was named president of FIRSCo and subsequently president of Fidelity Registered Investment Advisor Group, which provides wealth management, custody and brokerage services to registered investment advisers (RIAs) and third-party administrators.

Products September 21, 2007

The Standard Offers Fee Education to Participants

The Standard is making a new fee education campaign available to employees of its retirement plan clients.
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“Getting the Most from Your Plan: a Participant’s Guide to Retirement Plan Fees,’ describes the services covered by retirement plan fees, with examples and illustrations, a company announcement said. The guide also educates participants about the potential negative effects and costs associated with taking loans and early withdrawals from their retirement plan.

“Understanding how plan fees work, their impact on investment earnings and how to avoid or eliminate some fees are all critical to becoming an informed investor,” said Sheri Fitts, director of communications and large case sales, in the announcement.

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Earlier this year, The Standard created a similar educational campaign for plan sponsors, entitled “A Plan Sponsor’s Guide to Retirement Plan Fees.’

Both the plan sponsor and plan participant guide are available for viewing or downloading by visiting retirement.standard.com.

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