Deals & People April 25, 2014

VALIC Adopts LPL Advice Solutions

VALIC, a retirement plan services provider, has integrated LPL Financial’s Worksite Financial Solutions platform into its suite of offerings.
Reported by

Through the partnership, plan participants will be able to receive customized retirement advice through an online service. The Worksite Financial Solutions tool gathers information on each participant’s financial picture and life stage. After completing the detailed on-boarding process, participants can elect to receive personalized advice through the system or manage their accounts on their own. Plan participants can elect to receive advice all the way through retirement, as well.

Jana Greer, president of the Houston-based VALIC, which is a subsidiary of American International Group (AIG), says her firm already has a well-established partnership with LPL. She anticipates the inclusion of the LPL Worksite Financial Solutions will lead to custom-tailored advice solutions that will benefit both AIG’s and LPL’s shared clients.

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“VALIC’s long standing leadership position in the not-for-profit markets makes this a particularly exciting addition to the platform,” says Bill Chetney, president of the Boston-based LPL Financial Retirement Partners, which is an independent broker/dealer, a registered investment adviser (RIA) custodian, and a subsidiary of LPL Financial Holdings Inc. “We look forward to working together to further empower our retirement-plan focused advisers to move the industry forward.”

Deals & People April 25, 2014

Segal Group Expands DC Services Team

The Segal Group revealed plans to expand the firm’s defined contribution (DC) retirement plan services staff.
Reported by

“As DC plans have increasingly become a major portion of retirement income for those covered by qualified retirement programs, we are focusing on providing clients with the highest quality consulting advice possible,” says Joseph A. LoCicero, president and CEO of the New York-based Segal Group. 

LoCicero says the firm is expanding its DC expertise in the areas of plan design, governance, administration consulting, investment solutions and communications. To this end, the firm has formed a dedicated DC team to serve clients across a variety of market segments.

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This team will include one current expert and three new hires, as follows:

  • Robert A. Liberto, senior vice president with Segal Rogerscasey, has more than 30 years of experience in the employee benefits field, including more than two decades with Segal. He will lead the DC initiative for the multiemployer market. He developed and serves as practice leader for DC-Connect, a comprehensive DC search and vendor-selection service. Liberto works out of Segal’s New York office.
  • Wendy Y. Carter will act as a vice president and senior consultant. She joins Segal as a public sector DC expert working out of the Washington, D.C., office. She has nearly 30 years of experience in public sector retirement plan consulting with Mercer Investment Consulting and, most recently, with ING Retirement Services.
  • Pirie J. McIndoe will act as a vice president and senior consultant, joining the firm to concentrate on the higher education market. He has nearly 30 years of experience in the financial services industry, with TIAA-CREF and, most recently, with VALIC. He is located in the Raleigh, North Carolina, office.
  • Richard H. Reed will also act as a vice president and senior consultant, joining the firm to focus on corporate retirement plans. He has 25 years of experience in the financial services and retirement plan arena, most recently with Marsh & McLennan Agency. He works out of Segal’s Boston office.

The Segal Group (http://www.segalgroup.net) is a benefits and HR consulting firm. It is also the parent company of Segal Consulting, Sibson Consulting, Segal Select Insurance Services, Inc., and Segal Rogerscasey.

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