Benefits March 8, 2011

Non-Profits/Religious Organizations Make Use of Advisers

March 8, 2011 (PLANSPONSOR.com) – PLANSPONSOR’s 2010 DC Survey finds non-profits and religious organizations are in the top 50% of industries that use retirement plan advisers.
Reported by

According to an aiResearch Industry Report, more than two-thirds (67.8%) of non-profit and religious organizations use the services of a financial adviser for their retirement plan. Forty-four percent of those organizations said financial or investment advice is offered to participants through their plan’s adviser.  

More than half (51.5%) of non-profit and religious organizations said their source of insight or guidance on the funds in their plan is their financial adviser.  

Get more!  Sign up for PLANSPONSOR newsletters.

The majority (55.6%) said adviser fees are based on a percent of plan assets, while 19.8% said they pay a monthly or annual retainer.   

The report also offers benchmarks on plan features and participation. For this or other industry reports, contact Michelle Judkins at mjudkins@assetinternational.com.
Deals and People March 7, 2011

Hendel Tapped for BofA Merrill Lynch Post

March 7, 2011 (PLANSPONSOR.com) – Bank of America Merrill Lynch has turned to Stuart Hendel as managing director and head of Global Prime Brokerage.
Reported by

A news release said Hendel will be responsible for leading the continued expansion of the company’s prime brokerage businesses on a global basis.

Hendel, who is expected to join the company in June, will be based in New York and report to Tom Patrick and Mike Stewart, co-heads of Global Equities. Additionally, the Global Futures and Derivatives Clearing Services group will report to Hendel and Denis Manelski. Manelski will also continue as head of Global Short Rates Trading.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

Hendel began his financial career at Morgan Stanley, where he held a number of leadership roles before moving to multi-strategy hedge fund Eton Park in 2004, where he was a founding partner. In 2007, he returned to Morgan Stanley as global head of Prime Brokerage, and since 2009, he has been head of Global Prime Services at UBS, the news release said.

«