Deals & People January 24, 2012

Alliance Acquires Brown Edwards

Alliance Benefit Group Carolinas Inc., a subsidiary of Pentegra Services Inc., is acquiring Brown Edwards & Associates Ltd.’s qualified plan administration business. 
Reported by

Alliance Benefit Group-Pentegra will administer these plans. The transition will be completed over the next several months.

The transaction will increase the services available to Brown Edwards & Associates’ clients and adviser partners. Clients will have access to a full array of retirement plan services, including custom plan design; ongoing plan consulting; daily valuation administration and recordkeeping; flexible, fully customizable open-architecture arrangements; legal and technical support; plan compliance and fiduciary services; education and communications; and sponsor and participant 24/7 web access.

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Brown Edwards & Associates will continue its presence in the Charleston, South Carolina area.

Data & Research January 24, 2012

Saving More a Top Priority for Americans in 2012

Cutting debt and saving more are top priorities for Americans in 2012.
Reported by

Fifty-seven percent of Americans say they plan to reduce their debt in 2012 and 50% plan to save more, according to the New York Life Kitchen Table Pulse survey.  

The survey revealed Americans’ continued concerns around their financial future. In the year ahead, only 30% agree their family will be more financially secure and better prepared for the unexpected, and just 24% believe they will be in better financial shape for retirement. Despite these concerns, only 14% of Americans report they plan to seek professional help managing their finances in 2012.  

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“Studies have shown that people who engage with a professional financial representative feel better about their financial strategies and future,” notes Mark Pfaff, executive vice president at New York Life.  

Other findings from the survey include: 

  • Those most likely to say they will reduce their debt in 2012 are ages 45 to 59 (65%), men (61%), married adults (61%) and full-time workers (60%). 
  • Adults ages 30 to 59 are more likely planning to save more next year than are those who are older (55% vs. 37%). 

Ipsos conducted the poll for New York Life November 10 to 14, 2011, among a national sample of 1,011 adults ages 30 and older from Ipsos’ U.S. online panel.

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