Deals & People November 27, 2007

SGI Brings on Nationwide Growth Equity Traders

Topeka, Kansas-based Security Global Investors (SGI) has reached an agreement with Nationwide’s NWD Investment Management to hire the nine-person growth equity investment team from Nationwide Separate Accounts (NSA), an NWD subsidiary.
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According to a press release, the move is expected to occur in early February 2008. The incoming team will assume portfolio management responsibility for the Security Equity Fund Select 25 Series, the Security Mid Cap Growth Fund, and one-half of the Security Equity Fund Equity Series (and the respective related Variable Insurance Trusts), totaling approximately $970 million in incremental AUM.

The team currently manages approximately $475 million in assets across Large Cap Growth (with a 17-year track record, led by Mark Bronzo and Daniel Portanova) and Mid Cap Growth (with an eight-year track record, led by Joseph O’Connor).

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“We know that we will be able to retain our investment autonomy while maintaining our entrepreneurial culture. SGI is clearly committed to being a real competitor in the asset management business with a solid mission and strategic plan in place,” said Mark Bronzo, portfolio manager at NSA, in the release. “We are happy to be part of the team.”

Products November 27, 2007

Wilshire Group Launches Insurance Evaluation Service

Small and medium-size businesses can now tap into a new service that can help them identify the best insurance rates and plans.
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A press release from The Wilshire Group, an insurance affiliate of CheckPoint HR, LLC, says the firm has launched its new Wilshire BENeLERT Process that “…uses a 180-day proven practice to help clients identify the best rates and plans for their insurance needs.”

According to the press release, the life cycle of the Wilshire BENeLERT Process begins with the development of long term strategic planning and monitoring related to the management of the client’s premiums. The Wilshire Group team evaluates various data points that identify performance gaps in the plan and offer solutions that address those areas. The next step includes preparation of bid specifications (census, plan details, claims history, carrier history, waiting period and contribution formula). Next, the broker reviews all proposals and prepares a marketing report that includes appropriate exhibits, supporting documentation and an analysis of plans/product choices.

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Within 90 days of renewal, the carrier, contribution formula and plan is chosen. Open enrollment begins 60 days out and includes employee communications and technology uploads (including COBRA participants). At the 30 day mark, the carrier provides receipt that all information has been submitted and is being processed. Two weeks prior to renewal, all employees receive ID cards.

“Small to medium business owners are appalled and frightened by the rising costs of healthcare. To further amplify this situation, brokers have fallen into a status quo role of “showing up’ 60-90 days prior to the renewal to discuss plan and carrier options. Our new Wilshire BENeLERT Process drastically changes how SMBs view their second largest expense — healthcare,” said Tim Padva, president and co-founder of The Wilshire Group and CheckPoint HR. “By working with our clients 180 days prior to their renewal date, we are able to fully analyze data and research the most innovative benefits program tailored to fit their financial needs as well delivering a comprehensive plan for their employees.’

The Wilshire Group claims to be one of the largest insurance agencies in the Northeast with nearly $250 million in premiums under management. The Wilshire Group offers a broad range of group insurance solutions, including health, life, workers’ compensation, as well as 401(k) and pension plans. For more information, visit www.theWilshireGroup.com or call 800.385.0331.

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