Deals & People

John Hancock Retirement Plan Services (RPS) has increased the number of advisers able to offer services to 401(k) plans through a new distribution agreement reached with Morgan Stanley.

The Royce Funds have been added to the CPI retirement plan platform, announced CPI Qualified Plan Consultants, Inc., a third-party recordkeeping and administration company.

Fidelity Investments said on Tuesday it was reviewing its costs and staffing, Reuters reported.

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

It remains to be seen what the Merrill Lynch retention package will mean for retirement plan advisers.

Bank of America today announced that Bob McCann, currently vice chairman and president of Global Wealth Management at Merrill Lynch, will be head of the combined financial adviser...

Nick C. Thakore and Robert D. Ewing will join Putnam Investments as managing directors and portfolio managers of the firm’s Large Cap Equities Team, the company said.

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.

Gene L. Needles, Jr. has joined Touchstone Investments as president.

Wilmington Trust Corporation said it completed the acquisition of UBS Fiduciary Trust Company (UBSFTC).

Putnam Investments has named Jeffrey R. Carney as senior managing director and head of global marketing and products.

Bellatore Financial, Inc. announced it will acquire Advisor Partners, LLC, as a wholly owned subsidiary.

Great-West Retirement Services appointed two regional sales directors to focus on development of new corporate 401(k) plan business.

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...

San Francisco-based The Online 401(k) announced a partnership with Oakmont Partners, a Boston-based financial consulting and planning firm.

Citigroup continued its fight for Wachovia over the weekend, and the two companies are expected in court later this week.

American International Group (AIG), which has three broker/dealer subsidiaries, is looking for ways to unload business units in a quest to pay back the federal government.

UBS announced 2,000 job cuts, but it appears that the wealth management unit is not in the line of fire.

If you’re still trying to sort through what the Wachovia-Citigroup deal means – don’t bother.

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).