Product Watch: A separates piece fosters independence, coordination
Placemark Investments Inc. of Boston has introduced a program that allows its sponsors to offer tax-optimized and multimanager…
Placemark Investments Inc. of Boston has introduced a program that allows its sponsors to offer tax-optimized and multimanager separate-account products while continuing to use their own accounting system, client service system, trading relationships and money managers.
The TOTAL Overlay Management Services process allows full money manager independence in creating portfolios while offering coordination between managers within a multimanager portfolio.
It also lets sponsors integrate privately labeled and customized Placemark account products with their existing high-net-worth products without adding staff or technology.
First Penn online tool aims to simplify sales
A new tool from First Penn-Pacific Life Insurance Co. can simplify the sale of life insurance. Called E-Ticket, it allows agents to submit a pre-application online and obtain a more accurate rate class and premium quote for their clients.
E-ticket is available for Great Term Options term life insurance with face amounts up to $2 million for issue ages 18 to 45, and up to $1 million for issue ages 46 to 60. First Penn, based in Schaumburg, Ill., is a wholly owned subsidiary of the Lincoln National Life Insurance Co. of Fort Wayne, Ind.
Forefield hones tool for presentations
Forefield Inc. of Marlboro, Mass., has released FMA Advisor version 2.6. The software’s expanded capabilities include pre-built presentation templates in core financial planning subjects, and enhanced tables and illustrations. The product allows advisers to upload Microsoft Word or portable-display-format files into client presentations.
Centaurus signs up for iMAP platform
Vista Analytics LLC, a Houston-based managed-account provider, has announced that it will team with Centaurus Financial Inc. of Orange, Calif.
The agreement will allow Centaurus investment representatives to access iMAP, Vista’s consulting-based individually managed account platform. The product will allow Centaurus representatives to offer a wider range of investment products and reduce the amount of daily account management they perform.
Mutual Service reps’ choices expanded
Mutual Service Corp. of West Palm Beach, Fla., has collaborated with several financial services organizations to develop the Business Builder Network for its independent registered representatives.
The network provides representatives with preferred product and service pricing, a library of marketing materials, and interactive product research and selection.
Participating in the network are New York’s BISYS Group Inc., an investment and insurance training provider; Wilmington (Del.) Trust Corp.; and retirement-plan coordinators Search401k of Mendota Heights, Minn., and GoldK Inc. of Waltham, Mass.
Mutual Service, a wholly owned subsidiary of Pacific Life Insurance Co. of Newport Beach, Calif., plans to expand the network to eventually include resources for mortgages, fixed-income products and business succession.
Model for valuing mortgage bonds
Goldman Sachs Group Inc. in New York has launched a model to determine the value of mortgage-backed securities.
Valuation of mortgage bonds – a $4.3 trillion market – has been imprecise due to difficulties in predicting how quickly homeowners prepay their mortgages at various interest rates. Mortgage prepayments dictate bondholder prepayments.
Goldman’s new mortgage-pricing model incorporates prepayment assumptions, based on the most recent data, with Goldman’s own mortgage rate and interest rate models.
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