Products February 1, 2013

Thornburg Adds R Share Classes for Two Funds

Thornburg Investment Management Inc. added R share classes for its International Growth Fund (R6) and Developing World Fund (R5 and R6).
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The shares, to be offered through defined contribution (DC) and defined benefit (DB) pension plans, are being introduced in response to demand by plan sponsors, retirement plan platforms and advisers for lower-cost fund options that charge only an investment advisory fee and other fund expenses, and are free of 12b-1 or other shareholder servicing fees.

In keeping with last year’s fee disclosure regulations from the Department of Labor (DOL), the R shares will enable plan sponsors to separate mutual fund expenses from their recordkeeping and other service provider fees when determining if fees paid for plan services are reasonable.    

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“In the wake of increased fee disclosure, we are seeing a growing interest by the market for institutionally priced mutual fund share classes,” said Rocco DiBruno, managing director/retirement group director for Thornburg.“ We expect the demand for low- or no-revenue shares to grow steadily over time, and want to provide plan sponsors and advisers with a number of pricing structures across our suite of mutual funds.”  

For more information, visit www.thornburginvestments.com or call (877) 215-1330 ext. 7214.

Deals & People February 1, 2013

CPI Qualified Plan Consultants Inc. Adds to Sales Team

Craig Shrack, Leticia Marshall and Parish Parker have been named regional vice presidents on the sales team of CPI Qualified Plan Consultants Inc.
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Shrack serves Indiana and Michigan. He comes to the firm from AUL One America, where he was a field sales consultant, providing sales support and industry expertise to financial advisers working with qualified retirement plans. He previously helped develop and market RPAG’s e401k Proposal Benchmarking / Request for Proposal (RFP) system. Shrack holds a bachelor’s degree in financial counseling and planning from Purdue University and the Chartered Retirement Plans Specialist accreditation from the College for Financial Planning.

Marshall serves eastern Pennsylvania, southern New Jersey and Delaware. Most recently she was a retirement field services representative and external wholesaler with Nationwide. Marshall holds a bachelor’s degree in economics and international relations from Bucknell University. In addition, she earned a Certificate in Financial Planning (CFP) at Bryant College and her Accredited Investment Fiduciary designation from the Center for Fiduciary Studies.

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Parker serves North and South Carolina, and southern Virginia. Most recently, he served as regional sales director for The Hartford. Parker has six years of experience working directly with financial advisers, third-party administration firms and insurance companies. Parker holds a bachelor’s degree in business administration from Florida Southern College.

The regional vice presidents provide expertise and support to advisers and their retirement plan clients as they design and develop qualified and nonqualified retirement plan programs.

CPI Qualified Plan Consultants, with headquarters in Great Bend, Kansas, has 18 divisional and regional vice presidents throughout the U.S. The firm is actively looking to add to the team in Southern California.

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