Prudential Retirement has been selected by four new plan sponsor clients.
The first new client is the Dallas, Texas-based Clampitt Paper. On Feb 1, the plan sponsor moved its $18.3 million plan, which has 239 participants, to Prudential Retirement. Piers Hurley, was the UBS advisor to the deal.
The second client is the Fort Worth, Texas-based high-end luxury travel agency Virtuoso, whose plan has roughly $13 million in assets and 151 participants. It joined Prudential on April 2.
"Prudential has the talent, resources and the technology to create innovative solutions that reduce expenses and maximize administrative efficiency while also offering a 'best-in-class' investment platform," said David Test, advisor with Northwestern Mutual and advisor to the Virtuoso deal.
The third client, Fisher Auto Parts, based in Staunton, Va., moved its $18 million, and 950 participant, retirement plan to Prudential on April 16. Beryl Ball, an advisor for CAPTRUST Financial Advisors in Richmond, Va., was the advisor to the deal.
The fourth client is Houston, Texas-based bulk transportation and logistics provider, Trimac Transportation, which has $24 million and 1560 participants. John Ellis of Mercer DC Advisors advised the deal.
"These wins demonstrate Prudential Retirement's ongoing ability to offer solutions that achieve better outcomes. Plan sponsors recognize we have the expertise and the tools to place their plan participants not only on a secure path to retirement, but through their retirement,” Harry Dalessio, Prudential’s senior vice president of strategic relationships told Money Management Executive.