FASCore to Provide Plan Recordkeeping for Putnam Investments
GREENWOOD VILLAGE, CO, March 25, 2009 -- FASCore, LLC, announced today that it has signed an agreement to provide private-label recordkeeping and administrative services to Putnam Investments. As part of its strategy to expand its financial services business in the United States, FASCore's Canadian-based parent company, Great-West Lifeco Inc., purchased Putnam Investments in 2007.
FASCore specializes in providing private-label, retirement plan recordkeeping services to money management firms, banks, insurance companies, brokerage firms and other financial institutions. Teaming up with FASCore enables these entities to focus on cultivating relationships with their clients, while FASCore provides behind-the-scenes recordkeeping and administrative services. With the addition of Putnam Investments, FASCore's institutional business has grown to include several clients representing some of the most well known financial services brands.
"We're pleased to count Putnam among our institutional clients and look forward to assisting their customers," said Charlie Nelson, president of the FASCore business unit. "FASCore is known for seamlessly transitioning plans and then providing excellent, ongoing service to those plans. Just as important, I'm confident that Putnam will enjoy FASCore's broad portfolio of innovative online services."
"This new relationship with Putnam is an important step in our strategy to further broaden our business," he said. "It helps solidify our position as one of the premier retirement plan providers in the U.S."
About FASCore, LLC
FASCore, a wholly owned subsidiary of Great-West Life & Annuity Insurance Company, is a leading provider of recordkeeping and administrative services for the defined contribution and deferred compensation market. For more than 40 years, FASCore has provided retirement plan recordkeeping services for 401k, 403(b), 457 and non-qualified plans of all sizes. It has grown recently by partnering with banks, insurance companies, brokerage firms, money management companies, and other financial institutions to offer private-label recordkeeping services to their plan clients. At Dec. 31, 2008, FASCore record kept 3.7 million accounts.
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