Data & Research May 15, 2013

Plan Sponsors Use Social Media for Provider Data

More plan sponsors are embracing social media to access plan-relevant information from multiple sources, a new study found.
Reported by

The “4th Annual Retirement Planscape 2013” study, conducted by Cogent Research, revealed 63% of defined contribution plan sponsors now use social media as a regular source of information (see “Plan Sponsors Embracing Social Media”).

“We specifically asked plan sponsors which social media sites they access to read, watch, discuss, share or seek information, news or opinions related to 401(k) plans or 401(k) providers,” Linda York, author of the report and practice director of Syndicated Research at Cogent Research, told PLANADVISER. “This was the first time we’ve included a social media question in our Retirement Planscape survey.”

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York reported that plan sponsors were mostly linking to websites and blogs. “Nearly two-thirds of plan sponsors utilize some sort of social media platform for information related to 401(k) plan providers, almost twice the percentage of investors who utilize social media for personal finance and investing purposes (34%),” she said.

When asked what these results indicated, York said, “This relatively high level of social media usage is perhaps an indicator that plan sponsors are seeking more information about 401(k) plan providers from multiple sources as a means of determining whether a particular provider would be a potentially good fit for their organization, in terms of the provider’s capabilities, resources, and culture.”

Highlights of the Cogent study can be found here.

Deals & People May 15, 2013

Deutsche Bank Names Wealth Management Head

Jerry W. Miller has been appointed head of the asset and wealth management division for the Americas at Deutsche Bank.
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Miller is based in New York and reports to Michele Faissola, head of asset and wealth management. He joins the firm’s executive committee on asset and wealth management, and will chair the division’s America’s Executive Committee. Miller will also join the Deutsche Bank North America Executive Committee.

Miller has extensive leadership experience in asset and wealth management. From 2006 to 2010, he worked at Morgan Stanley, first leading the central division of the global wealth management business, then as president and CEO of Van Kampen Investments. Before that he spent more than two decades at Merrill Lynch, ultimately as a member of the senior leadership team at Merrill Lynch Investment Managers.

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Miller joins the asset and wealth management division from Lightyear Capital LLC, a private equity firm, where he was a senior adviser responsible for the acquisition of financial services companies, with a focus on investment management and wealth management firms.

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