First Union Capital Management and MassMutual Retirement Services have formed a strategic alliance that will offer enhanced services to about 850 defined benefit retirement plans that are clients of First Union, Reuters reported.
First Union will market and distribute the product, named Comprehensive Pension Resources (CPR). MassMutual will provide operational support including actuarial services, recordkeeping and online education and planning services.
First Union will be responsible for relationship and investment management trustee services, benefit payments and the operation of a call centre.
Search401k.com announced the launch of its 401(k) plan rating service for financial advisers. The Web site allows financial advisers to conduct searches for 401(k) plan providers for their business clients.
The patented technology seeks to cut down the time it takes financial advisers to find the appropriate service providers. The service is free for the advisers. The site is at www.Search401k.com .