Deals & People August 1, 2012

PenChecks Adds Midwest Regional Sales Director

PenChecks Inc. hired Ray Zittlow, AIF, as its Midwest regional sales director.
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His efforts will focus on establishing strategic partnerships with national and regional retirement plan recordkeepers and administrators. Zittlow draws on 17 years of experience with First Mercantile and MassMutual Retirement Services, where he worked closely with third-party administrators (TPAs) to develop alliances with recordkeepers and advisers.    

 “Ray has a keen understanding of the relationships between plan sponsors, advisers, recordkeepers and administrators and knows how to help them demonstrate value,” said Peter Preovolos, president of PenChecks. “We are confident he will make a significant contribution to PenChecks’ growth as he helps others establish better and more cost-effective distribution solutions.” 

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Products August 1, 2012

Professional Capital Services Updates Plan Model Tools

Professional Capital Services LLC (PCS) updated its retirement plan model management tools.
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The latest model management enhancements are part of a Web-based tool suite available through the PCS AdvisorPlan Program. It offers advisers a single access point to rebalance, realign or transfer funds within customized mutual fund and exchange-traded fund-based asset allocation portfolios across multiple 401(k) plans.

The PCS Model Maintenance interface helps meet the new disclosure demands by consolidating and simplifying the building, rebalancing, benchmarking, performance reporting and fee disclosure functions via a Web portal.

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Advisers maintaining models can choose to use their own performance figures or actual performance calculations for each model since inception on the PCS record keeping system. They can also design custom benchmarks, risk profile rankings and model descriptions for inclusion on the PCS annual participant fee disclosure and “evergreen” enrollment booklet.

The suite was revised to meet all requirements for designated investment alternatives (DIAs) contained in the Department of Labor’s participant fee disclosure regulations.

More information is available here.

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