Products February 6, 2015

Lockton Teams with Beazley for U.S. Investment Adviser Liability Program

Lockton Affinity announced it has selected Beazley Syndicates at Lloyd’s of London as the professional underwriting carrier for its national registered investment adviser (RIA) liability program.
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Lockton Affinity is the affinity program management division of Lockton Companies, and its RIA liability program provides U.S. investment adviser firms with commercial insurance solutions.

The partnership with specialist insurer Beazley Syndicates enables RIA firms to purchase coverage through the program, such as cyber liability and network security protection; Employee Retirement Income Security Act (ERISA) fiduciary coverage with the ability to supplement group/master broker/dealer (B/D) policies; deductible credit incentives for use of engagement letters and/or alternative dispute resolution; and coverage of employee benefit consulting, tax and bookkeeping, and third-party administrator (TPA) services on one policy. Additionally, the program includes practical risk management resources aimed at helping investment advisers understand their exposures, in order to protect them from potential legal implications.

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“Lockton Affinity’s new alliance with Beazley Syndicates at Lloyd’s of London will provide RIA firms nationwide with the industry’s premium professional liability solution,” says Joe Ziegler, chief operating officer (COO), Lockton Affinity. “This partnership will not only strengthen the strong trading relationship we currently enjoy with Beazley, but most importantly, it will provide today’s RIA professional a superior insurance product that has the flexibility needed to fill many of the coverage gaps that currently exist.”

Deals & People February 5, 2015

NFP Advisor Services Takes on N.C. Advisory

Gate City Advisors, based in Greensboro, North Carolina, is the newest firm to join the NFP Advisor Services platform.
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The firm’s managing partners, Joseph (Joe) Vartanian and R. Sherwood Greer, have 19 and 31 years of experience in financial services, respectively.

Vartanian cited NFP Advisor Services’ technology and tools, as well as its commitment to the retirement industry, as critical to his decision to select the firm as a partner. The advisory’s long-term vision includes expanding their retirement plan focus, he said.

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“NFP Advisor Services’ expansive suite of adviser-focused services, especially in the technology space, will help Gate City Advisors be more efficient and effective in serving our clients. As we look at our long-term vision, we want to expand our retirement plan focus and NFP Advisor Services will support that growth,” he explained.

“We continue to see great opportunity in the retirement plan space, and Gate City’s emphasis on the 401(k) business complements our focus,” said James Poer, president of NFP Advisor Services.

Gate City Advisors offers financial planning, investment consulting and retirement plan services. NFP Advisor Services provides technology, service and asset management platforms to financial advisers.

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