BenefitStreet Picks Up S.F. Brokerage House

October 28, 2002 ( - BenefitStreet, Inc., a Ramon, California developer of retirement plan daily valuation technology delivered through investment advisors, has agreed to acquire EAInvest Securities, Inc, the companies announced.

EAInvest Securities is a San Francisco brokerage firm also focused on investment advisors.

An immediate by-product of the deal will be access to BenefitStreet’s $20 million/2 401(k) program by more than 60 EAInvest advisors, according to the announcement, which notes that the program helps advisors grow assets to a goal of $20 million in 2 years. To achieve this, BenefitStreet helps advisors locate plans, make proposal presentations and convert assets.

The companies said the 401(k) space is a potentially lucrative access point for advisors because it provides opportunities to work with highly compensated corporate executives as well as the retiree IRA rollover business.