Products June 24, 2010

Payden Funds Added to CPI Platform

CPI, a third-party recordkeeping and administration company, has added the Payden family of mutual funds to the firm’s retirement plan platform.  
Reported by

The company says that its platform offers defined contribution plan sponsors “cutting-edge technologies in a daily valuation environment, while preserving valuable plan design flexibility”, and that that Payden addition “furthers CPI’s goal of providing depth, choice and enhanced flexibility to financial advisers, defined contribution plan sponsors and their retirement plan participants”. 

Payden & Rygel, headquartered in Los Angeles with offices in Boston, London, Dublin, Frankfurt and Beijing, is one of the largest global independent investment managers, according to the announcement.   

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For more information about Payden & Rygel visit http://www.payden.com 

With corporate headquarters in Great Bend, Kansas, CPI, a wholly owned subsidiary of CUNA Mutual Group, has 20 offices located throughout the United States, and currently provides its services to more than 3,700 retirement plan clients and their investment professionals.  More information is available at http://www.cpiqpc.com 

The Markets June 24, 2010

College Mistakes: Financial Advisors List the Worst

A recent study polled financial advisors to discover the worst financial mistakes made by college students.  
Reported by

Although the U.S. Department of Education’s new Direct Loan program may make college more affordable for some, mismanaged personal finances could lead to greater problems for future financial security. A survey of more than 340 First Command Financial Advisors revealed their greatest concerns: 

  • 75% reported spending without a budget and credit card debt; 
  • 60% reported overall debt; 
  • 48% reported not having enough savings; 
  • 41% reported not having a plan for the future; 
  • 40% reported lacking knowledge of financial issues.  

“The economic downturn has been a wake-up call for many Americans [to make] meaningful, long-term changes in their household finances,” said Terri Kallsen, CFP and executive vice president of strategic development at First Command. She warned that many college students and recent graduates, however, “may not yet have the life experience and judgment to properly manage [loans or related products].”  

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First Command Financial Services provides financial planning services and investment products. To learn more about this survey, visit www.firstcommand.com/education. 

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