Transamerica announced Wednesday that it's partnering with Cetera Financial Group to launch a new pooled retirement plan solution, the Cetera Advantage(k) GPS, that’s designed for small and midsize businesses and will be available only through advisors affiliated with Cetera.
Transamerica will serve as record keeper for the plan, while Cetera Retirement Plan Specialists, a third-party administrator owned by Cetera, will serve as 402(a) and 3(16) fiduciary for the plan and will be responsible for plan administration.
“For some small business owners, the administrative hurdles to set up and maintain a 401(k) plan, and the investment expertise required to select and maintain an appropriate, high-quality investment menu, have been a challenge,” Adeline Wong, head of retirement plan strategy and solutions at Cetera, said in a statement. “Our new solution, in collaboration with Transamerica, aims to reduce the administrative tasks and liability for the business owners so they can focus on what matters most — running their business."
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.
Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
