TIAA-CREF has hired Michael Lane to head a new team that serves fee-based financial advisors. Lane, who was named director of advisory services at the New York-based firm, reports to Dennis Foley, VP of TIAA-CREF's annuity and mutual fund businesses.

Lane will oversee the advisor-based distribution of TIAA-CREF's financial products, including mutual funds, annuities, 529 plans, 403 pension services, life insurance, and long-term care insurance. He most recently held a position at Advisor Resources, a division of AEGON Financial Services, based in Louisville, Ky.

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