By combining their resources, the combined firm will be able to offer an expanded array of executive benefit solutions and related services that address evolving legislative requirements and labor market shortages due to the impending retirement of the baby boomers, according to the announcement.
While benefit plans will remain the cornerstone offering of MullinTBG, it plans to expand its range of products and services, including adding an investment advice and financial planning component to it overall plan design offering, the announcement said. MullinTBG will also offer access to a variety of investment and insurance offerings, including proprietary offerings through M Financial Group.
The new firm also plans to focus on providing executive benefit solutions to emerging growth companies competing with big industry for top executive talent.
Peter Mullin will be chairman of the new firm, and Michael Shute, currently CEO of TBG, will be CEO of the new firm. MullinTBG will administer more than 400 non-qualified benefit plans with $15 billion in total assets covering over 50,000 executives.