Security Trust Company Signs Employee Benefits Firm As New TPA
PHOENIX, AZ, March 4, 2003 -– Sentinel Benefits Group, Inc., of Wakefield, Mass., is Security Trust Company's newest third-party administrator (TPA) alliance partner.
Security Trust Company (STC) will provide Sentinel Benefits Group advanced trust services for retirement plans in a multi-fund, multi-investment environment. STC is the industry's sole provider of automated daily trading and exchanges for retirement plans in all three of the following areas: same-day/late-day traded mutual funds; unitization of separately managed accounts, company stock and cash, fund of funds; and individually directed brokerage accounts with multiple brokers.
The flexibility and breadth of investment choices for retirement plans that result from STC's extensive automation work especially well for Sentinel Benefits Group, says Grant Seeger, CEO of STC, because of the broad range of services the company offers and the number and variety of plans it administers.
As a major industry force in New England, Sentinel Benefits Group joins STC's growing national network of national and regional alliance partners. STC's selection process for partners is "a highly selective one," according to Seeger, because of STC's criteria in business model cohesion, industry qualification, and technology capability.
Sentinel Benefits Group, Inc. (www.sentinelbenefits.com), provides employee benefit consulting, administration and brokerage services that include HR consulting, retirement plan and flexible spending account administration, COBRA, insurance brokerage and investment advisory services. The company's recently launched Sentinel Securities, Inc.*, unit operates as a fully disclosed broker-dealer. Based in Wakefield, Mass., Sentinel Benefits Group serves more than 2,000 businesses and corporations throughout the United States and is Massachusetts' largest privately-owned employee benefits firm.
Security Trust Company (www.securitytrustco.com) is the nation's largest independent trust and custody company, providing institutional back-office trust services to financial service providers – including brokers, investment advisors, money managers, and record-keepers/third-party administrators (TPAs) – and their customers. Security Trust Company does not sell products or provide record-keeping services. The Phoenix-based company, founded in 1991, services assets of approximately $11 billion through private client, master custody, and retirement plan services.
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