Meet MDRT's new leadership
As it celebrates its 90th year, the Million Dollar Round Table (MDRT) has announced the appointment of Mark Hanna as president and Regina Bedoya as secretary of the organization's Executive Committee.
Hanna, who is from Concord, California, will be the 91st MDRT president, and will succeed 28-year member Brian D. Heckert of Nashville, Illinois. Other executive appointments include James Pittman from Portland, Oregon, who will serve as first vice president, and Ross Vanderwolf from Fortitude Valley, Australia, who will serve as second vice president.
"Delivering a level of inspiration and educational opportunities unmatched in the profession, MDRT has helped me emerge as a leader, strengthened my credibility and confidence among my clients and positioned me to achieve career success in the financial services profession," Hanna said in a press release. "I remain thankful and humbled by the continued support I have received from MDRT and look forward to beginning my term as President."
Prudential picks up WestRock pension business
The Prudential Insurance Company of America has completed a pension risk transfer agreement with the WestRock Company, a provider of paper and packaging solutions in consumer and corrugated markets.
Under the terms of the agreement, WestRock will transfer $2.5 billion in pension liabilities to Prudential, reducing its overall U.S. pension obligations by 40 percent. The transfer will cover approximately 35,000 retirees and their beneficiaries.
"Managing pension risk continues to be at the top of the list of many companies' challenges, and this latest transaction reaffirms U.S. companies' appetite for pension risk transfer solutions," Peggy McDonald, senior vice president in Prudential Retirement's Investments and Pension Solutions business, said in a press release. "We are pleased WestRock chose Prudential to deliver on its pension promises to their retirees."
FPA launches new Advocacy Council
The Financial Planning Association (FPA) has announced the launch of the FPA Member Advocacy Council to further bolster the organization's role as the voice of financial planning practitioners by providing a mechanism to evaluate and influence –– through ongoing analysis and feedback –– the activities of regulatory and certifying bodies that impact FPA members as well as all finance professionals.
"FPA is an organization that represents the best the profession has to offer. Our members are passionate about their profession and need a crucial voice on issues that impact them, their businesses and their clients," FPA 2016 President Pamela Sandy, said in a press release. "The FPA Member Advocacy Council will serve as a much needed sounding board for FPA members and leaders who have concerns, suggestions and opinions on the efforts by those entities who regulate and certify them and will be instrumental in helping the association be the collective voice practitioners need."
Happy Anniversary!
LifeMark Partners, one of the nation's largest independent national insurance marketing organizations, celebrates its 20-year anniversary as an IMO this fall. With roots in the life insurance industry extending 40 years, the company evolved from the study group LIFE Inc., formed in 1976. Recognizing the unique need for sales and marketing support to expand and enhance life insurance distribution, LifeMark Partners was formed in 1996 to provide comprehensive service to the brokerage general agency community. Currently, with 37 BGA Partners nationwide and a reach of more than 100,000 affiliated agents and advisors, LifeMark Partners celebrates this milestone through reflection on the past and with an eye towards the future of life insurance distribution.
"With a dedicated focus on improving the distribution of life insurance, we pride ourselves on offering world-class resources to a top-tier group of Partner BGAs," LifeMark President and CEO William Shelow said in a press release. "Our longevity and success will always be due to the success of our Partners."
