Deals & People November 6, 2007

ACS to Offer IRA Rollover Service and Annuity Purchase Program

Affiliated Computer Services (ACS) announced that it is partnering with Wealth Management Systems Inc. (WMSI) to offer a suite of rollover distribution options.
Reported by

An ACS news release said the WMSI enhanced IRA and annuity services are available to companies with defined contribution plans.

The company said its new offering with WMSI works with client Web sites to help plan participants evaluate a variety of IRAs, make a selection, and open an IRA account.

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“Because employees continue to be increasingly mobile, making their retirement assets easily transportable is more important than ever,’ said Don Bartolai, ACS vice president, Global Benefits Outsourcing, Human Capital Management Solutions, in the announcement. “This allows plan sponsors and administrators to facilitate a simple decisionmaking process and allows participating employees to pursue a more secure retirement.’

The new offering also provides retirees with the option of purchasing lifetime income annuities through Income Solutions, an annuity purchase program of Hueler Investment Services, Inc. Income Solutions.

The Hueler product allows modeling of various immediate annuity scenarios, requesting quotes that reflect institutional pricing, and selection of an annuity provider through a competitive quoting process.

Deals & People November 6, 2007

Hartford Names New Fund Family Chief

The Hartford Financial Services Group has named Keith Sloane to the newly created position of senior vice president to lead the company’s mutual fund and 529 businesses.
Reported by
Sloane joins The Hartford’s Retail Products Group team after spending 12 years at Wachovia Securities where he was most recently Managing Director of Product Marketing, a Hartford news release said.
According to the announcement, Sloane led the Wachovia mutual fund business as well as marketing and product efforts for a range of financial products, including 529 college savings plans. Prior to joining Wachovia Securities, Sloane worked at PaineWebber for eleven years.
Along with the Sloane appointment, Hartford also announced its mutual fund family has surpassed $50 billion in assets under management as of October 1, 2007, doubling in less than three years and up 38% from just one year ago.
“We have great ambitions for our mutual fund business and believe we have the momentum, products, and talent to continue to expand our position in the industry,’ said Rob Arena, senior vice president for the Retail Products Group at The Hartford, in the announcement.

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