Transamerica, Advo(k)ate Advisors Debut PEP
The pooled employer plan provides relationships with more than 125 payroll providers.
Transamerica Corp. and Advo(k)ate Advisors, a branch office of Osaic Wealth Inc., announced Monday the launch of the Advo(k)ate Nexus Pooled Employer Plan.
Transamerica Fiduciary Services is the pooled plan provider, Transamerica Retirement Solutions is the PEP’s recordkeeper and administrator, and Transamerica Trust Co. serves as custodian and trustee. Advo(k)ate Advisors is the PEP’s 3(38) investment fiduciary.
According to the announcement, the Advo(k)ate Nexus PEP integrates fiduciary outsourcing, payroll connectivity, scalable administration and a “robust” participant experience.
“We chose Transamerica for its leadership in pooled plan solutions and its ability to deliver the scale, technology and service model our clients expect,” said Renn Williams, a partner in Advo(k)ate Advisors, in the announcement. “The Advo(k)ate Nexus PEP offers employers a streamlined way to provide a competitive retirement benefit, backed by a provider recognized for excellence in the pooled employer plan market.”
The PEP offers relationships with more than 125 payroll providers and offers flexible payroll integration, website and mobile access, and optional, goals-based investment management.
“Advo(k)ate Advisors and Osaic are exceptional partners, who bring deep expertise, proactive fiduciary leadership and a relentless commitment to customer outcomes,” said Darren Zino, Transamerica’s head of retirement distribution, in the announcement.
The Advo(k)ate Nexus PEP also offers a single Form 5500 across adopting employers, with centralized fiduciary and administrative duties, including responding to an audit if necessary.