Deals & People November 17, 2009

CPI Opens Consulting Office Serving Mich., Wis.

CPI Qualified Plan Consultants, Inc., said that Ken Boivin will serve as retirement plan consultant in the firm’s newly created Grafton, Wisconsin, office.

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Boivin will represent CPI to retirement plan sponsors and their financial advisers in Michigan and Wisconsin.

Boivin comes from CUNA Mutual Group, where he spent the last 21 years, most recently as the regional sales director for retirement plans in the Western half of the country. He started his career as a financial services representative with Mass Mutual.

“Ken’s presence in the area will give us greater focus in our Great Lakes Region, providing better service to both plan sponsors and financial advisers,” said Kendall Chance, national sales director.

CPI is based in Great Bend, Kansas, and provides recordkeeping and administration services to qualified and non-qualified defined contribution retirement plans.

Compliance November 17, 2009

FINRA Gets OK to Expand BrokerCheck

The Financial Industry Regulatory Authority (FINRA) will make records of final regulatory actions against brokers permanently available to the public through the BrokerCheck service.

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FINRA got the OK from the Securities and Exchange Commission for the expansion, which will be in effect November 30.

Currently, a broker’s record generally becomes unavailable to the public two years after he or she leaves the securities industry. FINRA said keeping the permanent records will boost investor protection.
 
“Individuals previously barred by FINRA and other regulators have surfaced in a number of recent frauds in other parts of the financial industry that cost unsuspecting investors millions of dollars,” said FINRA Chairman and CEO Richard Ketchum. “It has never been more critical for investors to research the backgrounds of the financial professionals they deal with than it is today.”

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