Products June 4, 2010

SunTrust Adds Guaranteed Income Option to 401(k) Offering

SunTrust Banks has added a guaranteed lifetime income investment option, ClearCourse, to its institutional 401(k) investment platform.
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A SunTrust announcement said ClearCourse is a “pension-like” savings option that provides participants with the ability to build a retirement paycheck for life through their 401(k) plan.

According to the announcement, it further offers participants both upside potential and downside income protection, through increases to the guaranteed income amount in the event of positive portfolio performance, yet no reductions to the guaranteed amount even if negative portfolio performance decreases the account balance.

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“Now more than ever, we see a need for retirement income options that provide a level of protection in a fluctuating economic environment,” said Brenda Seliga, senior vice president and head of Employee Benefit Solutions at SunTrust, in the announcement. “Since 401(k) plans have replaced pension plans as a primary vehicle for retirement savings, both plan sponsors and their employees have begun to seek pension-like benefits and guaranteed income sources within their 401(k).”

ClearCourse is a group variable annuity designed for 401(k) plans and is issued and guaranteed by Genworth Life and Annuity Insurance Company.

Products June 4, 2010

Pershing Offers Global Investing Resources to B/Ds and RIAs

Pershing LLC, a BNY Mellon company, has launched an educational initiative about international investing to help its introducing broker/dealer (IBD) and independent registered investment adviser (RIA) customers capitalize on global investment solutions. 
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The initiative combines two new guidebooks, “International Investing: An Investment Professional’s Guide” and “International Investing: An Independent Advisor’s Guide,” with practice management expertise and extensive global resources and capabilities, Pershing said.

The International Investing guidebooks, developed in conjunction with Capco, a global provider of integrated consulting, technology, and transformation services, offer Pershing’s IBD and RIA customers an in-depth analysis on the opportunities and risks of investing abroad as well as strategies on how to access emerging and frontier markets. The guidebooks also discuss how to effectively incorporate these solutions into specific business models, according to Pershing.

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A copy of “International Investing: An Investment Professional’s Guide” is available at www.pershing.com. A copy of “International Investing: An Independent Advisor’s Guide” is available at www.pershingadvisorsolutions.com or by calling 800.445.4467.

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