Deals & People October 12, 2010

SevenHills Plan Advisors Joins RPAG

Chris Schneeman, Mark Boser, and Steve Sawyer of SevenHills Plan Advisors are joining the Retirement Plan Advisory Group (RPAG), using Financial Telesis, Inc. (FTI) as their broker/dealer.  
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SevenHills Plan Advisors represents the retirement division of SevenHills Benefit Partners, a full-service benefit consulting firm located in St. Paul, Minnesota. The firm has nearly 70 plans, mostly located in the twin cities.  According to a news release, SevenHills is hoping to hire more team members in the first half of 2011.   

The firm was previously with National Retirement Partners (NRP), but will now use Financial Telesis.  “FTI offers us the independence, flexibility and personal attention we need from a broker/dealer,” said Boser.   

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Products October 12, 2010

Principal Publishes White Paper on Fee Disclosure Guidelines

The paper by ERISA attorney Jamey Delaplane is part of several additions to Principal’s Web site dedicated to fee disclosure education.   

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The new resources from The Principal include:

  • White paper by noted ERISA attorney Jamey Delaplane, partner, Davis & Harman LLP, “New Fee Disclosure Rule for Retirement Plan Service Providers: What Financial Professionals Need to Know,” helps financial professionals understand the new rule and how it may affect them and their clients.
  • Commitment of Services: Financial professionals can customize this document to outline the services they provide and demonstrate the value they bring to their clients.
  • Checklist for Financial Professionals: This high-level overview of ERISA §408(b)(2) helps financial professionals determine their approach for complying with the new regulation.

In August, Principal launched the Web site to help educate advisers and sponsors about the Department of Labor’s (DoL) new fee disclosure regulation (see “Principal Unveils Fee Disclosure Site“).

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All of these resources can be found at www.principal.com/feedisclosure  

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