Wells Fargo Enhances Plan Benchmarks

Wells Fargo Retirement announced enhancements to its service that measures the effectiveness of employer-sponsored retirement plans.

Wells Fargo Plan Benchmarks expand traditional measures of retirement plan success by providing companies that sponsor retirement plans for employees a way to compare their plans to those of other companies that are similar in industry, size, employee demographics and design. In turn, this information will help them measure plan competitiveness and effectiveness relative to their industry peers.   

In addition to traditional methods of measuring how well a retirement plan is helping participants save for retirement – determining how many employees are participating in the plan, whether they are contributing enough to the plan and whether they are appropriately diversified – Wells Fargo Plan Benchmarks compiles statistics across Wells Fargo’s retirement plan business, comparing plans to peer groups and “best in class” plans serviced by Wells Fargo to help companies identify potential areas for improvement.    

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

“Our plan benchmarks do more than just list industry averages. They break it down into measurements that are important for each client’s individual plan design attributes and industry segment. The numbers can vary significantly depending on the industry segment, plan size and plan features, such as automatic enrollment or contribution increase,” said Joe Ready, director of Wells Fargo Institutional Retirement and Trust. “This data specifically addresses the number one question we get from sponsors: How does my plan compare and is it competitive?”

 

Symetra Expands Sales Team with Three East Coast Reps

David Cohen, Andrew Olig and Ken Terranova have been added to Symetra Financial Corp.’s registered investments sales team.

The sales consultants will represent Symetra True Variable Annuitywith fee-only registered investment advisers and fee-based broker/dealer advisers from Maine to Pennsylvania:

Cohenjoins Symetra from Sentinel Investments where he was senior vice president, investment strategy group, responsible for sales support to the registered investment adviser channel nationwide. He previously held sales positions with J.P. Morgan Fleming Asset Management, State Street Research and Hartford Life Distributors. He holds a bachelor’s degree from Ithaca College, and Series 7 and 65 licenses from FINRA. Based in Philadelphia, Cohen is Symetra’s senior investment specialist for Pennsylvania and West Virginia.

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

Olig most recently was regional marketing director at Hartford Mutual Funds, where he served on the Hartford Mutual Funds Advisory Board. Before his eight years at The Hartford, Olig worked at Putnam Investments as an internal wholesaler and regional sales associate. He holds a bachelor’s degree from Central College in Iowa, and Series 6, 7 and 63 licenses from FINRA. Based in Boston, Olig is Symetra’s senior investment specialist for the New England area.

Terranova brings to Symetra extensive investment product sales experience at Prudential, State Street Global Advisors and, most recently, at Tocqueville Asset Management. At Tocqueville, he served as director of intermediary sales and worked with registered investment advisers, wirehouses, retirement platform providers and key account partners. He holds a bachelor’s degree from Rutgers University, and Series 7 and 63 licenses from FINRA. He has the following certifications: CIMA, AIF, CMFC and AAMS. Based in northern New Jersey, Terranova is Symetra’s senior investment specialist for the Greater New York market.

 

«