A Mutual of Omaha news release said RMS will focus on generating sales for its 401(k) product line through five distribution channels: third-party administrators, wirehouses, banks, independent financial planners, and Mutual of Omaha agents. It also will distribute group annuity products through brokers and Mutual of Omaha agents.
In addition, expansion of internal wholesaler capabilities is underway, with new positions anticipated in both the Omaha and Dublin, Ohio, RMS offices, said RMS President and CEO Chuck Lombardo.To align all retirement plan sales resources within one team, nine new positions will be created at RMS, the announcement said.
The positions will be filled by current Mutual of Omaha associates with most housed at the firm’s Omaha office, which will open in July, said Dave Ahrendt, Senior Vice President-Retirement Plans.
Based in Dublin, RMS is an independent wholesaler specializing in marketing retirement products in the 401(k), 403(b), 457 and individual rollover markets. Its five-person staff contracts with approximately 50 wholesalers throughout the United States .