Willis Towers Watson announced this week that it’s launching a pooled employer plan in the U.S., following its offerings of similar plans in the U.K. and Europe.
Willis Towers said Transamerica will serve as record keeper and administrator for the pooled employer plan, LifeSight PEP.
Pooled employer plans are designed to be used by smaller companies and aim to simplify the work employers have to do to provide a defined-contribution retirement plan for their workers. Willis Towers Watson notes that the LifeSight Pep will make use of many of the services it already provides to employers, such as plan design, governance, investments, outsourced chief investment officer and administration.
“The LifeSight PEP will allow employers to offer a market leading defined contribution plan and employee experience with limited demand on their internal resources, enabling greater focus on strategy and core business,” Michele Brennan, LifeSight U.S. business leader at Willis Towers Watson, said in a statement.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
