Chairman of The Principal to Retire

Larry Zimpleman, who worked at The Principal Financial Group for 44 years in various roles, will retire in January.

Larry Zimpleman, chairman at The Principal, will retire from the organization on January 4. He will continue to serve on the board of directors as non-executive chairman.

Zimpleman drove a number of significant advancements for The Principal during his 44 years with the organization, says Dan Houston, president and chief executive officer at The Principal. “He was instrumental in developing our international pension and long-term savings strategy, and in exporting our expertise to high potential markets around the world,” Houston says.

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Zimpleman joined the company in 1971 as an actuarial intern. From 1976 to 2006, he served in various management and leadership positions at the officer level, mostly in the U.S. retirement business. He was named president and chief operating officer of The Principal in 2006; president and chief executive officer in 2008; and president, chairman and CEO until August 2015.

For his extraordinary contributions to the retirement plan industry, Zimpleman was given the PLANSPONSOR Lifetime Achievement Award in 2012 at PLANSPONSOR’s annual Awards for Excellence ceremony in New York.

Zimpleman also played a critical role in launching the firm’s initial public offering in 2001, according to Houston, who also cited Zimpleman’s leadership through the Great Recession as most noteworthy.

Nationwide Offers LPL Financial Employee Advice Solution

Nationwide now offers LPL Financial’s Employee Advice Solution to shared retirement plan clients.

Nationwide’s retirement plan business now offers access to LPL Financial’s Employee Advice Solution (EAS) through its recordkeeping platform.

The new tool allows Nationwide to supply LPL-affiliated advisers with the data they need to offer timely, personalized financial advice to plan participants, according to the firms.

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The EAS tool, launched by LPL in 2014, delivers participant advice through an online service. Based on information that participants provide about their financial picture, participants can engage with a financial adviser directly to receive personalized retirement advice, or they can choose to manage their accounts on their own. They can also elect to receive advice all the way through retirement, LPL explains.

Nationwide, as the plan recordkeeper, will provide a dailyparticipant-level data feed when requested by plan sponsors, enabling LPL advisers to provide tailored financial advice and facilitate a closer relationship with plan participants.

The EAS tool is part of LPL’s Worksite Financial Solutions platform, which offers a suite of services to help participants create confidence in their financial futures. The platform is “fully integrated with LPL’s reporting and monitoring tools for plan advisers,” and now Nationwide is “one of the few retirement plan providers to support both the EAS tool and the Employee Transition Solution tool, which is also available within the platform and provides participants with guidance during career changes,” LPL explains.  

Joe Frustaglio, vice president of Nationwide’s private-sector retirement plans business, highlights that Nationwide and LPL Financial have a long-standing partnership and a history of working together to deliver better outcomes for participants.

More information is at www.lpl.com and www.nationwide.com

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