Deals & People

MFS Wades into DCIO Market

MFS Investment Management (MFS) completed the formation of a business development office for the defined contribution investment only (DCIO) marketplace, the company said.

PenChecks to Use WMSI Rollover Services

PenChecks Inc., a provider of qualified plan distribution services, will integrate Wealth Management System Inc.’s IRA rollover services with BenePay, PenChecks’ online distribution processing platform.

Bank of America Seeks Capital

Bank of America announced its plans to raise capital by selling stock and slashing dividend payments, after reporting third quarter results of $1.18 billion, down from $3.7 billion...

NIVM Adds TPA to Stable

National Investment Managers (NIVM)., a retirement plan administration and investment management company, closed on the acquisition of Pension Technical Services, a third-party administrator (TPA).