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Friday, June 09, 2006


Reported by Marie Glancy

Dicing up IRAs, a round of golf, and a broker-dealer says "thank you for being a friend." The following sundry items have crossed the MFWire desk in recent days:

  • Diversified Investment Advisors is ready to expand its retirement account expertise in the "de-cumulation" direction. The newly introduced Lifetime Income Fund will let clients use up to half the assets of their Diversified IRA to produce monthly benefit payments, while keeping the rest in equities. Vice president Laurie Fleischman describes it as similar to a single-premium annuity, but with "the attractive reporting features of a defined contribution investment option, with account balances and activity reported on quarterly statements."

  • DST Systems has won more business with Delaware Investments. After a decade of providing shareholder record-keeping technology to the Philadelphia-based affiliate of Lincoln Financial, DST has been chosen to support the firm's fund transfer agency services, too.

  • William F. Quinn, chairman and CEO of Fort Worth, Texas-based American Beacon Funds, has been appointed to the New York Stock Exchange's Pension Managers Advisory Committee, where he'll help advise on the Exchange's relations and communications with pension managers.

  • Julian Naylor left the Bank of New York's European retail fund services division to become managing director of international operations for Pittsburgh-based technology provider Confluence. He will remain based in London.

  • Everyone knows last week's NICSA/DFIA conference in Kildare, Ireland was at least partly about getting to try out the 2006 Ryder Cup golf course. Following the golf competition, Janus's Jim Bytnar, Robin Fisher of Mellon Financial, and Ray D'Arcy and Sandra Younge -- representing the U.S. and Irish operations, respectively, of Interactive Data -- were among those awarded with bottles of wine for besting the pro.

  • How much do broker-dealers love you? Leo Wells, founder and president of Norcross, Georgia-based Wells Real Estate Funds, has received the first ever "Award of Friendship" from NEXT Financial Group, an independent broker-dealer based in Houston. Said NEXT president Jeff Auld: "Over the years, Wells has sponsored numerous educational events and conferences, and provided training for our representatives through Wells University. Leo's commitment to the independent broker/dealer channel is second to none."  

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