Products March 16, 2023

2023 PLANADVISER Vision Awards

PLANADVISER announced winners of its Vision Awards, to be recognized at the 2023 PLANADVISER Industry Leader Awards celebration on May 10, 2023, in New York City.

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There have been tremendous changes and advancements in the retirement plan industry in recent years, often inspired and driven by visionaries and leaders in the field. PLANADVISER’s annual Vision Awards celebrate those industry players who have propelled positive change for retirement saving and toward financial security for U.S. workers and retirees.

This year, we are pleased to recognize the CFP Board with our organizational Vision Award and Kelli Hueler, CEO and Founder of Hueler Companies, with our individual recognition.

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VISION WINNER:
CFP Board

The Certified Financial Planner Board is one of the largest financial professional certification bodies in the country, with more than 95,000 financial workers carrying the CFP certificate nationally—one of every three financial advisers in the U.S. The board’s ongoing commitment to fiduciary best practices, and the evolution of the CFP fiduciary standard helps to understand why so many seek out this designation. The CFP has also been a driver of diversity, equity and inclusion in the financial space, regularly updating the public about demographic statistics from its certification program, along with championing a broader umbrella for financial services recruiting and education.

In 2022, the board began a process to double down on its efforts to improve DEI with a major restructuring of its organization. In a decision driven by leadership, the nonprofit decided to create two entities: One will remain focused on CFP certification, and the other will focus on forwarding financial advisement as a career for all, particularly among groups currently underrepresented in the sector. The CFP Board in January split into two nonprofit entities under one advisory board. One organization, the CFP Board Center for Financial Planning, has a stated mission of advancing “competent and ethical financial planning and expand[ing] CFP professional diversity for the benefit of the public,” according to the CFP. The other, the CFP Board of Standards, is focused on developing and administering CFP certification.

“As more Americans seek financial advice, firms large and small are embracing financial planning as a core service,” Daniel Moisand, CFP Board chair, and Kevin Keller, the CFP Board’s CEO, said in a statement upon the announcement. “However, with tens of thousands of financial advisers expected to retire in the coming decade, our country faces a dearth of competent and ethical financial planners.”


VISION WINNER:
Kelli Hueler
CEO and Founder, Hueler Companies

Kelli Hueler was early in identifying a key dilemma in the 401(k) era of retirement savings: How can savers ensure themselves a steady paycheck in retirement? Today, after more than two decades of work, her Income Solutions division stands as a leader in providing a safe and simple platform for advisers and individuals to compare, assess and purchase institutionally priced retirement income annuities.

Hueler first began her journey in 1987, with the founding of Hueler Companies, a data, market research and analytical reporting firm. During those years, Hueler’s work in researching insurance-backed stable value funds led her to see the need for an affordable solution to the retirement income dilemma for defined contribution retirement plan participants. In 2004, she launched Income Solutions, a platform designed to empower transitioning employees in need of creating a personal lifetime income stream by providing online access to competitively bid, institutionally priced annuities. The Income Solutions platform was made available directly to plan sponsor clients and through non-exclusive partnerships with financial services firms, fiduciary adviser platforms and non-profit member organizations. Hueler sold the analytics portion of her business to Morningstar Inc. in 2020, while continuing to run Income Solutions. In February of 2022, Hueler began a partnership with Morningstar to incorporate guaranteed income products into retirement savers’ personalized advice plan through Morningstar Retirement Manager.

Hueler has dedicated time and focus on educating others about lifetime income creation, in many ways, including testifying before the Department of Labor ERISA Advisory Council, as a founding member of the Defined Contribution Institutional Investment Association, and as a regular contributor to news outlets.


For PLANADVISER Industry Leaders Awards sponsorship information, please contact Rob Reif. For general information, contact Carol Popkins.

Products March 15, 2023

Adviser Product Partnerships

Pacific Life and Templeton partner on lifetime income solutions; Transamerica, Cetera Financial Group debut group retirement plan solution; and UBS joins with Athletes Soul to support retiring athletes.

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Pacific Life, Franklin Templeton Collaborate on Lifetime Income Solutions

Pacific Life Insurance Co. and Franklin Templeton have announced a collaboration on lifetime income solutions.

The firms will provide insurance solutions and personalization for defined contribution plan participants seeking lifetime income.

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“Crafting next-generation solutions that meet the unique needs of participants is core to our values and allows us to make meaningful progress toward providing financial well-being to all Americans,” said Yaqub Ahmed, head of U.S. retirement, insurance sub-advisory and 529 college savingsat Franklin Templeton, in a statement.

The collaboration will combine Pacific Life’s expertise in risk management in the lifetime income space with Franklin Templeton’s background in investment management and personalized allocation methodology.

“A one-size-fits-all approach to retirement planning is falling short of the needs of most plan participants,” said Michael Oler, head defined contribution lifetime income at Pacific Life, in a statement. “This collaboration will address the need for personalization and customization in retirement savings and help plan sponsors help their participants achieve better retirement outcomes.”

Transamerica, Cetera Financial Group Debut New Group Retirement Plan Solution

Transamerica Corp. announced a new pooled plan solution in partnership with Cetera Financial Group Inc.

The Cetera Advantage(k) GPS is designed for small and mid-sized businesses, allowing employers to reduce their administrative burden and certain fiduciary risks and to benefit from cost efficiencies.

“Our new solution, in collaboration with Transamerica, aims to reduce the administrative tasks and liability for the business owners so they can focus on what matters most—running their business,” said Adeline Wong, a senior vice president and head of retirement plan programs and strategy at Cetera, in a statement.

Transamerica will serve as the plan’s recordkeeper. Cetera Retirement Plan Specialists, a Cetera-owned third-party administrator, will be the plan’s 402(a) and 3(16) fiduciaries. The specialists will also manage the plan’s day-to-day administrative duties.

“Together with Cetera, we share a vision of making it possible for more companies to offer retirement plans to their employees,” said Phil Eckman, president of workplace solutions at Transamerica, in a statement.

UBS Partners With Athletes Soul, Adds Adviser to Firm’s Certified Athletes and Entertainers Segment

UBS Financial Services Inc. announced a partnership with Athletes Soul Inc., a volunteer-based organization that supports athletes as they transition into athletic retirement.

UBS and Athlete Soul will provide financial education through group events and online programs to help retiring athletes make informed decisions.

“Until now, we have been missing the financial piece of this puzzle, and we are very gratified that UBS sees the value in working with us to provide the wealth management education and advice that will help our athletes make smart financial decisions,” said Myriam Glez, the founder of Athletes Soul and a former Olympian, in a statement.

Additionally, Barry Porter, the managing director for wealth management at UBS, has been named a certified consultant within the UBS Athletes and Entertainers Strategic segment.

“We are proud that Barry has received his AEC designation. The value and insight he’s provided over the years to professional athletes and entertainers, alongside his understanding of the industry, will be extremely beneficial to our clients,” said Justin Frame, UBS managing director and market head for Southern California, in a statement.

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