"We plan to offer various investment services including mutual funds and College Savings Banks CollegeSure CD, as well as serve the needs of state-sponsored 529 programs," said Pacific Life CFO Khanh Tran, in a statement.
College Savings Bank was founded in 1987 and has assets of $308 million. Pacific Life was founded in 1868 and has $335 billion in assets under management.
Completion of the purchase is subject to regulatory approvals. Terms were not disclosed.
Amid a busy April for big hires, compliance tech provider COMPLY and wealthtech platform TIFIN have brought on industry vets Michael Stanton and Jeannette Kuda, respectively, aiming for strategic growth.
After a mixed quarter for the firm's wealth unit, CEO Ron Kruszewski predicted that the Fed may cut rates zero or just once or even hike them in 2024.
The U.S. Chamber of Commerce and other business groups contend the Federal Trade Commission has exceeded its authority in nullifying contracts that prohibit employees from switching jobs to competitors.
Retirement doesn't have to mean scrimping and saving. Here are five parts of the country where seniors are living large in their golden years.
Advisor360° names former MassMutual exec Mike Fanning as its new CEO
