Products November 12, 2015

WMSI Enhances Cambridge Retirement Platform

Wealth Management Systems Inc. adds its capabilities to the Cambridge Investment Research retirement platform.
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Wealth Management Systems Inc. (WMSI) is now a service provider for the retirement platform for independent broker/dealer Cambridge Investment Research Inc. Retirement-focused advisers for Cambridge can use the digital retirement platform to offer fee­-based solutions as a fiduciary and bring education resources to plan participants. 

WMSI, which was acquired by DST in July, offers a suite of services and rollover solutions as part of DST Retirement Solutions. The Cambridge Retirement Center combines resources, capabilities and commitment to provide a complement of benefits to advisers, including disclosure and data aggregation tools; a dashboard of client retirement plans; investment analytics, fund monitor reports, and fee benchmarking tools; targeted education messaging; and support for fiduciary services for plan sponsors as well as education for participants and clients on the realities of financial wellness.

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A retirement center team provides support throughout the adviser engagement, from the request for proposal through formal contract completion.

The Cambridge Retirement Center was designed to be engaging and easy to use, while delivering access to aggregated plan data and insights, according to John J. Geli, vice president of DST Retirement Solutions. Dan Sullivan, executive vice president at Cambridge, says the platform will be a streamlined experience for advisers with quick access to multiple technology subsystems and several providers.

WMSI, a DST company, provides rollover technology, communications, and practice management solutions to the financial services industry.

Products November 12, 2015

Investment Product and Service Launches for the Week

BPV Capital Management partners with AJO and SEI to launch large cap value CIT; Prudential Investment Management announces name change.
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BPV Reveals Large Cap Value Collective Investment Trust

BPV Capital Management announced a partnership with AJO and SEI Trust Company to launch the BPV Large Cap Value Collective Investment Trust (CIT).

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AJO is a Philadelphia-based institutional asset manager, and SEI Trust Company is a subsidiary of SEI, a Pennsylvania-based financial solutions group.

“We’ve loved working with AJO through our partnership on the BPV Large Cap Value Fund, and we are excited to continue building this partnership while expanding access to AJO’s decades of expertise and benchmark outperformance,” says Mike West, senior partner and CEO of BPV.

He says working with SEI Trust Company “is an added bonus,” citing the company’s “vast network of operations and distribution infrastructure” as a powerful new asset for BPV enterprise going forward.

Designed to deliver a “more affordable 60 basis point fee structure and zero investment minimum,” the BPV Large Cap Value CIT is specifically designed for tax-qualified retirement plans, the firm says. However, the underlying strategies have been developed and in play for over 20 years, BPV explains, leveraging the extensive experience of a five-person investment team led by AJO Founder and Managing Principal Ted Aronson.

The CIT is benchmarked against the Russell 1000 Value Index, and the strategy employs a bottom-up, value-oriented investment approach and “a sophisticated quantitative model with stock selection based on company value, management strength, momentum and sentiment.”

The BPV Large Cap Value Collective Investment Trust can be purchased through BPV’s institutional sales team, and will eventually be offered on a number of distribution platforms as well.

Next: Name Change at Prudential Financial 

Prudential Unveils PGIM Brand

Prudential Investment Management, the global investment management business of Prudential Financial, Inc., announced plans to change its name to PGIM.

Prudential says the name change is meant to “reflect its position as one of the world’s largest asset managers and its deep expertise across a broad set of asset classes.”

The new name will be effective January 4, 2016, matching Prudential’s objective of expanding the range of investment solutions and products “to address growing demand, especially among global clients, for strategies that help them balance long-term risk and return objectives across diversified portfolios.”

Prudential is the provider of the DayOne Target-Date Fund series. The firm tells PLANADVISER much of the focus in recent years has been on building talent and capabilities to better serve clients. At the Prudential Investment Management level, the firm created a Multi Asset Class Solutions group (called MACS) which is a consultative service for institutional clients “to work through issues they may face.”

“Our clients expect investment managers to simultaneously find the best investment opportunities around the world, while upholding the most rigorous standards of risk management,” adds David Hunt, CEO of Prudential Investment Management. “The PGIM name represents our scale, and our conviction to deliver time-tested, long-term solutions and outcomes for institutional and retail investors.”

Several Prudential Investment Management businesses will adopt the new name:

  • Prudential Fixed Income will use PGIM in markets outside of the United States where it currently uses the Pramerica name, beginning in January.
  • Prudential Mortgage Capital Company will be renamed PGIM Real Estate Finance globally in mid-2016.
  • Prudential Real Estate Investors will be renamed PGIM Real Estate globally in mid-2016.

The new identity also extends to Prudential Investment Management’s new headquarters in Newark, New Jersey.

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