Deals & People June 20, 2011

RPAG Partners with John Hancock

John Hancock Financial Network (JHFN) will begin offering its advisers practice management tools from the Retirement Plan Advisory Group (RPAG).
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RPAG’s practice management platform will be part of a new JHFN program to help its financial advisers expand the retirement plan services they offer clients. 

According to the announcement, RPAG will provide access to its proprietary suite of technology, tools, and training resources for advisers seeking to build their business within the framework of a best-practices consulting model. Key components of the RPAG platform include:  

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  • A Scorecard Generator for investment fund ranking
  • An e401k Proposal system for fee benchmarking and vendor RFPs
  • Fiduciary Fitness Program
  • Fiduciary Briefcase plan sponsor online documentation portal
  • Compensation Calculator for adviser pricing models
  • Monthly newsletters and legislative updates for consistent client communication
  • Prospecting Webinars and other marketing tools to build adviser pipelines

Advisers using the RPAG platform have access to live customer support Monday through Friday, including on-staff CFAs, former practicing ERISA attorneys, RFP specialists and plan consultants. Advisers receive ongoing practice management assessment interviews by the RPAG support team and are invited to attend monthly training Webinars, onsite spring training sessions, and an annual user’s conference. 

“We’re very pleased to announce our partnership with RPAG as we get ready to launch our program,” said Chris Maryanopolis, president of Signator Investors, Inc., JHFN’s broker/dealer. “Having RPAG’s experience and reputation will help cultivate successful outcomes for our advisers, their clients, and our new program.” 

Deals & People June 20, 2011

Pension Specialists to Rebrand as Verisight

Pension Specialists, Inc. (PSI) has acquired Human Capital Services, a division of RSM McGladrey, Inc., and the new entity will be rebranded as Verisight, Inc.
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The acquisition expands PSI’s retirement plan services to include retirement recordkeeping and administration; actuarial services; employee-stock ownership plans (ESOPs); compensation and employee benefits consulting; and enhances the full suite of services the company already provides to its retirement plan clients. The transaction is expected to close within 60 days. 

“The addition of RSM McGladrey’s Human Capital Services adds tremendous breadth to our business solutions,” said Greg Tschider, Chief Executive Officer of Pension Specialists, Inc. “This acquisition reflects our dedication to expanding our product line and our geographic reach while maintaining our focus in the retirement plan space.”  

Rebranding 

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The combined company will assume a new name, Verisight, Inc.  Verisight means “truthful insight”, which the firm said is consistent with its “commitment to be a trusted client partner driven by core values of honesty and integrity.” Verisight will have 12 office locations and provide services to retirement plan clients with more than $13 billion of assets.  

The complete set of solutions also includes those provided by wholly-owned subsidiaries: NextStep Defined Contribution, Inc. (“NextStep”), a provider of recordkeeping and administrative services for retirement plans through advisers and intermediaries, and Retirement Services Trust Company (“RSTC”), a non-depository trust company providing directed non-discretionary trustee and custodial services exclusively to retirement plan clients.   

To ensure continuity after the transaction is completed, Verisight and McGladrey will maintain a strategic relationship through a joint marketing agreement.  

“We look forward to a lasting relationship with Verisight,” said Mike Stokke, RSM McGladrey’s National Client Service Strategy and Delivery Leader. “McGladrey will continue to work closely with Verisight to provide a full range of integrated and seamless solutions to clients of both organizations.” 

Upon closing, Human Capital Services will immediately begin to use the new name. Rebranding of the other business lines will be implemented throughout the remainder of 2011, according to the announcement. 

Pension Specialists, Inc. was founded in 1985 and is headquartered in California. Either directly or through its subsidiaries, PSI offers a fully bundled retirement plan solution with an unlimited set of investment options and full price transparency for employers and plan sponsors.Through NextStep Defined Contribution, Inc., PSI offers bundled retirement plan solutions to financial advisers for the benefit of their retirement plan clients. Through Retirement Services Trust Company (“RSTC”), PSI offers non-discretionary, directed trustee services to PSI retirement plan clients. PSI also offers flex plan administration through its subsidiary 125MAX, LLC.    

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

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