Products January 28, 2009

Convergent, Archimedes Team Up to Offer Roth Analytics Platform

January 28, 2009 (PLANSPONSOR.com) - Convergent Retirement Plan Solutions, LLC, and Archimedes Systems, Inc., announced the release of the Roth IRA Conversion Optimizer for financial advisers, the first product on a new Roth analytics platform.
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Convergent, based in Brainerd, Minnesota, and Archimedes Systems, based in Waltham, Massachusetts, said the joint development of the platform is “to support the anticipated upsurge in Roth activity projected to occur throughout 2009 and 2010,” according to a press release.

The Roth IRA Conversion Optimizer is set for release in the first quarter of 2009. A release of a consumer-oriented version is scheduled for the second quarter of 2009, the companies said.

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The release said the tool will assist the adviser and the consumer in determining the optimal conversion, based on each investor’s unique income needs and financial legacy objectives.

“Advisers who are positioned to perform sound Roth IRA conversion analyses will have a distinct advantage in the marketplace,” said Ben Norquist, president of Convergent.

Both the adviser and consumer versions of the Roth IRA Conversion Optimizer will be available in a branded, turnkey format as well as in a customized format. In addition to those decision-support Web tools, Convergent will also offer a suite of Roth-focused business development tools, including adviser and consumer workshops, slide calculators, and educational content, the companies said.

– Ellie Behling

Deals and People January 27, 2009

Northern Trust Names New CIO

January 27, 2009 (PLANSPONSOR.com) - Northern Trust announced today that Robert P. Browne has joined as Northern Trust's Chief Investment Officer.
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Browne, 43, joins Northern Trust from ING Investment Management in Atlanta, Georgia, which he joined in 2004 and most recently served as Chief Investment Officer for Fixed Income and Proprietary Investments. Browne fills a vacancy in the CIO position created by the retirement from Northern Trust of Orie Dudley, who had led the investment team for more than eight years (see Northern Trust Global Names Dudley CIO ).

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According to the announcement, Browne has held senior investment management positions in Japan, the United Kingdom and the United States. With Merrill Lynch Investment Managers, his work included serving as Managing Director and Co-head of North American fixed income teams. Earlier in his career, Browne held senior fixed income portfolio manager positions at JP Morgan in Japan and the U.K.

Browne is based in Chicago and reports directly to Stephen N. Potter, president of Northern Trust Global Investments.

“Bob Browne is a seasoned professional with the depth and range of experience to effectively lead our investment team at a critical time – a time of turmoil in the global financial markets, but also of great opportunity for a stable, reliable and innovative financial institution such as Northern Trust,” Potter said. “With his background in global investment management, Bob combines a relentless focus on performance with excellence in risk management that will serve our institutional and personal investors well.”

“During Orie’s tenure as CIO, we have seen an unprecedented growth in assets under management, dynamic changes to our investment business model, expansion in our global product mix and significant improvement in our investment processes and performance,” Potter said. “Orie’s contributions to these developments have been invaluable and we are grateful for his leadership.”

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