ADP Establishes Strategic Advisory Services Group

ADP has established a Strategic Advisory Services group, dedicated to advising clients on their benefits administration services.

The Strategic Advisory Services group at ADP will work directly with clients to provide business intelligence and analysis of the constantly changing benefits administration landscape. The new organization is part of the company’s broader growth strategy to expand the depth and breadth of its benefits solutions offerings, particularly for large and mid-sized companies.  

“Due to health care reform mandates and other regulatory measures, benefits administration is becoming an increasingly expensive and complex activity for employers,” said Tim Clifford, President, ADP Benefits Services. “The goal of our new Strategic Advisory Services group is to provide our clients with value-added analytics, insights and actionable ideas that will help them successfully execute their benefits strategies and provide a high quality participant experience.”  

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David Marini will join ADP as Managing Director of the new organization. He  will be responsible for developing and growing the group. Chief among his responsibilities will be leading a team of industry experts in providing ADP clients with thought leadership and consulting services around best practices for delivering compliant, cost-effective benefits outsourcing services.   

Marini brings more than 30 years of executive management and operations experience in the HR, Benefits, consulting, and financial services fields to ADP. Previously, he  held senior leadership positions at TMI Executive Resources, The Palladium Group,  echnologies Partners, Inc., Watson Wyatt (now Towers Watson), and Trilog Inc., a wholly owned subsidiary of CIGNA Corporation.

UBS Launches ETNs Linked to Volatility Index

UBS Investment Bank introduced 12 ETRACS Exchange Traded Notes (ETNs) linked to the daily performance of an index in the S&P 500 VIX Futures Index Series, which began trading on the NYSE Arca.

Investors now have the ability to trade, be it long or short, six specific VIX Index futures maturities, ranging from one month to six months.  

Each of the six ETRACS S&P 500 VIX Futures ETNs provides investors with a long exposure to one of six underlying Indices, depending on the series of ETNs purchased. Each of the six ETRACS Daily Short S&P 500 VIX Futures ETNs provides investors with a short exposure to one of six underlying Indices.  

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“Previously, there were limited alternatives for trading different maturities along the VIX futures curve.  Investors now have the ability to trade six individual VIX futures maturities, be it long or short, based on their specific view on volatility,” said Christopher Yeagley, Managing Director and U.S. Head of Equity Structured Products.  

More information is available at http://www.etracs.com.

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