Paychex, the large payroll services provider, will launch a pooled employer plan, or PEP, on Jan. 1, the first day the new plans can be provided under provisions of the SECURE Act.
As a pooled plan provider, Paychex will act as both plan sponsor and formal plan administrator, relieving employers — especially small to midsize businesses — of significant fiduciary and administrative burdens.
Businesses currently offering an employer-sponsored qualified retirement plan are able to merge their plan and assets into a pooled program to potentially save time and money, Paychex said in a release.
Mesirow Financial will serve as the 3(38) investment manager of the Paychex program and Mid Atlantic Trust Co. will serve as the trustee.
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
