Deals & People January 12, 2011

Russell to Acquire ETF Provider

Russell Investments announced its intent to acquire U.S. One, Inc., a registered investment adviser (RIA) and exchange-traded fund (ETF) provider.
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U.S. One, Inc. is the investment adviser to the One Fund, a diversified global equity ETF of ETFs traded on the New York Stock Exchange (NYSE Ticker: ONEF) that provides exposure to 95% of the world’s stock markets with the objective of long-term investment growth, according to the announcement.   

A preliminary proxy statement was filed with the Securities and Exchange Commission related to the replacement of U.S. One, Inc. with Russell Investment Management Company as the investment adviser to the One Fund. A shareholder vote to approve this change is scheduled for mid-February and the acquisition of U.S. One, Inc. by Russell Investments is anticipated to close shortly thereafter.  

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Paul Hrabal, President of U.S. One, Inc. will work with Russell Investments as a consultant to the ETF business.
Products January 12, 2011

Software Calculates Retirement Income Needs

The Retirement Income Industry Association (RIIA) and HealthView Services have developed a retirement income management software solution that includes a portion dedicated to unforeseen healthcare costs.   
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The Retirement Income Management system has been designed in a modular fashion, according to a news release. This allows advisers to cover one topic at a time with clients, or to skip some modules entirely.Institutions may also customize and brand the platform for integration into existing Web-based reporting systems.  

Some of the modules included in the program include: 

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  • Estimating out-of-pocket healthcare expenses 
  • A budgeting process that can range from basic retirement needs such as housing, to more complex, all-inclusive budgets 
  • A comprehensive investment portfolio building tool 

The need to calculate healthcare expenses is most “overlooked,” according to HealthView.   

“Healthcare costs are typically the greatest or second greatest expense during retirement; it’s growing at 7% annually; and, most baby Boomers do not include many of these expenses as a part of their retirement income management plan  This lack of planning ultimately could have huge, negative implications for retirement security of millions of Americans,” observes Ron Mastrogiovanni, CEO of HealthView Services.  

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