The arctic front that swept across the countryside over the last 10 days has been bone-chilling. A freeze has made it hard for the wild geese to land, and people have gone out to try to help them. Spring seems far away, but underneath the snow tiny shoots are sprouting, gathering, growing stronger. And in the business world, innovation continues, with new products and new companies. Here’s what we’re seeing in the benefits industry:
Wagner Law Group has been certified as a women-owned and operated business by the Women's Business Enterprise National Council (WBENC). The firm’s founder and managing director is Marcia Wagner. The firm also added two attorneys to its new Washington, D.C. office: Dan Brandenburg, whose expertise includes pension, 401(k) and welfare plans, executive compensation and more; and David Pickle, who specializes in all aspects of ERISA Title I provisions, including prohibited transactions and exemptions and reporting and disclosure rules.
Retirement plan and fiduciary outsourcing solutions provider Pentegra announced the promotions of Lars Ernst to Assistant Vice President, Regulatory Compliance and Thomas Leder to Assistant Vice President, Consulting Services.
Insurance software provider Dynamis, has launched its new Proposal Generator tool, which lets brokers produce a custom benefits proposal in minutes, then make adjustments to that proposal in real-time with clients.
Wiley has published a new book for American citizens working and living around the world and foreign citizens working in the United States -- and the financial advisors who advise them. The Cross-Border Family Wealth Guide, by Andrew Fisher, President and CIO of Worldview Wealth Advisors, addresses the unique financial, legal and regulatory challenges faced by global families.
TIAA announced Custom Default Solutions, designed to help improve retirement outcomes by adding a guaranteed income component through a custom target-date model structure, or by a model portfolio constructed to deliver a target level of income. Plan sponsors and/or their third-party consultants develop the models (selection of investment options and glide paths) and assign participants to the models using TIAA’s recordkeeping platform.
Regency for Expats has launched terrorism coverage as part of their international private health insurance coverage for globally mobile workers.
Humana launched a new personalized wellness and rewards program, Go365. It aims to motivate employees to make manageable lifestyle changes by tracking simple lifestyle goals.
Mergers & acquisitions
Aon, a global professional services firm with actuarial, brokerage, and consulting capabilities has acquired Admix, a health and benefits brokerage and solutions firm in Brazil. Admix has more than 1.4 million beneficiaries across approximately 6,700 companies and places approximately $2 billion BRL in health & benefits premiums each year.
OneDigital, an employee benefits-only company with 37 offices across the country, has acquired C.T. Hellmuth and Associates, a provider of in-depth employee benefits consultation in the greater Washington, D.C. area. The combined Virginia, Washington, D.C. and Maryland region will be the largest in the country for OneDigital with more than 110 employees and 3,500 clients.
NewSpring Holdings, of NewSpring Capital, has acquired technology firm Vertical Management Systems (VMS). VMS provides solutions to help deal with fiduciary risk, fee transparency, and revenue reconciliation and processes over $600 billion in assets, 5 million accounts, and 500,000 trades annually. NewSpring Capital, based in Radnor, PA., collectively manages more than $1.5 billion of committed capital supporting more than 120 portfolio companies.