Deals & People August 22, 2012

FPA Taps Schadle as New Leader

Marvin W. Tuttle, Jr., executive director and chief executive of the Financial Planning Association (FPA), said he would step down on October 2.
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Tuttle had originally announced a 2014 retirement date but adjusted the timing in order to focus on family concerns. The FPA national board unanimously appointed Lauren M. Schadle as executive director and CEO. She will assume the role on October 3.

Tuttle began his career with the organization in 1983 when he joined the Institute of Certified Financial Planners (ICFP), one of two groups that merged to form FPA in 2000. He held a variety of positions at ICFP and FPA, becoming CEO and executive director in 2004. Tuttle has been instrumental in developing numerous programs at FPA and is recognized as a leading voice in the ongoing development of the financial planning profession.

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Schadle joined ICFP in 1996 and led efforts in communications, marketing and membership. In 2006, she was promoted to associate executive director and chief operating officer of FPA.

“Marv Tuttle’s influence extends far beyond FPA, and his importance in shaping the profession will be felt for decades to come,” said Paul Auslander, FPA 2012 president. “His legacy will be as a true collaborative leader, a steady hand that led many through tumultuous times and part of the foundation and soul of FPA. His unmatched insight and presence will be sorely missed by us and countless others, yet we fully respect and support the difficult decision he made.”

 

 

Products August 22, 2012

ING Introduces LDI Collective Trust

ING U.S. Investment Management introduced a customizable liability-driven investing (LDI) collective trust solution to assist plan sponsors with matching assets to future benefit payments.
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The collective trust’s long, corporate bond exposure can more closely match pension liabilities than generic, long-duration strategies that typically combine corporate and government bonds or use only the latter.  

LDI has become an important consideration for pension plans in recent years, particularly because of new regulations requiring plans to more specifically manage their assets toward the goal of paying future benefits. ING said the challenge has been that many LDI solutions are either institutional separate accounts requiring high asset balances or non-customized solutions consisting of a mix of government and corporate credits that do an imperfect job of matching assets to liabilities.  

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According to Frank Van Etten, deputy head of Multi-Asset Strategies and Solutions (MASS) at ING Investment Management, the new LDI collective trust is innovative in its ability to closely align a pension plan’s assets and liabilities to help ensure that liability volatility can be managed within an expected deviation. The strategy is managed by ING Investment Management’s MASS and Fixed Income teams, including in-house actuarial staff that works to balance the asset-liability mismatch, portfolio yield and concentration risk in a plan’s investment policy.  

More information is available here.

 

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