NFP Unveils Turnkey Nonqualified Deferred Compensation Platform EXEC360(SM) Platform Targets Small to Midsize NQDC Plan Market and Advisor Channel
NEW YORK, March 10, 2014 /PRNewswire/ -- NFP, a leading provider of benefits, insurance and wealth management services, today announced the launch of EXEC360, a cost-effective, turnkey nonqualified deferred compensation (NQDC) platform specifically designed for the small to midsize NQDC market. Developed to provide financial services professionals in the traditional retirement plan market with the ability to bring a high-quality, cost-effective NQDC program to their clients, EXEC360 is a flexible, tax-advantaged employer-sponsored plan that can assist participants with wealth accumulation and offer employers a competitive edge in recruiting and retention.
NFP brings expertise in executive and deferred compensation in its launch of EXEC360. EXEC360 will be initially focused on executive deferral plans. The first solution delivered to market will be a corporate owned life insurance (COLI)-financed solution carefully tailored to fit the needs of the defined market. Joe Carpenter, president of NFP Executive Benefits, said, "We have spent considerable time and resources analyzing the market in conjunction with our partners in the advisory space, and we have identified the need for an independent, cost-effective, small-to-mid-market NQDC solution. Unlike other turnkey solutions in the industry tied to specific companies and product suites, our unique EXEC360 platform provides a valuable solution with optionality in the vibrant NQDC market."
EXEC360 offers more than just one product, insurance carrier or solution. In addition to basic product flexibility, EXEC360 will provide advisors with a high level of support in their efforts to expand and enhance their relationships with their qualified plan clients. Specifically, NFP and EXEC360 will provide:
- Consulting and sales support
- Access to NFP NQDC systems and technology
- Industry-leading administration process and client service
- Case design services
- Plan documentation
- Implementation services
- Systems and technology, including a dedicated participant site and dedicated sponsor site
- Administrative services, including record keeping, client services and annual enrollment
National Financial Partners Corp. (NFP), through its benefits, insurance and wealth management businesses, provides diversified advisory and brokerage services to companies and high net worth individuals, partnering with them to help preserve their assets and prosper over the long term. NFP advisors can provide innovative and comprehensive solutions, backed by NFP's national scale and resources. NFP operates in three business segments. The Corporate Client Group provides corporate and executive benefits, retirement plans, and property and casualty insurance. The Individual Client Group includes retail and wholesale life insurance brokerage and wealth management advisory services. The Advisor Services Group serves independent financial advisors by offering broker/dealer and asset management products and services. Most recently, NFP was ranked in the top 10 on Business Insurance's 100 Largest Brokers of U.S. Business and Best's Review's Top Global Insurance Broker lists; second on Business Insurance's Largest Agents and Brokers Headquartered in the U.S. Northeast; it operates the third-largest executive benefits provider of nonqualified deferred compensation plans by total clients, as ranked by PlanSponsor; and operates a top 10 independent broker/dealer as ranked by Investment Advisor. NFP is also a leading independent life insurance distributor according to many top-tier carriers. For more information, visit www.nfp.com.