Press Release
Clarke Lanzen Skalla To Provide Investment Advice To Pension Plan Clients
OMAHA, NE., July 1, 2002 -- Clarke Lanzen Skalla Investment Firm, Inc. (CLS) has partnered with Registered Investment Advisor Services, Inc. (RIAS) to offer investment advice to pension plan clients. RIAS in Dallas (patent pending) offers a unique Internet-based transaction platform that will provide CLS with direct access to each participant's retirement account in order to monitor the positions and make changes in allocations directly. Participants will receive regular account statements for their retirement plan investments and allocations from their investments.
Through an arrangement with RIAS, CLS can make its services available to retirement plans that utilize Nationwide Financial products. Currently, money management is only available for investors who own the Nationwide Best of America Group Pension Series. However, both CLS and RIAS plan to expand the relationship to other investment vehicles. Under the new arrangement, the CLS services will be available to individual plan participants giving them access to a wide range of money management advice to help them invest their assets to meet long-term retirement goals.
In making the announcement, W. Patrick Clarke, founder of CLS, said, "We are very pleased that RIAS has chosen our firm as one of the money managers to advise participants in their Group Pensions Series. Until now, individuals with small accounts did not have access to professional money managers. With this new program, they can get the customized help they need to make the best investment decisions from among the many available options. This program fills an important need and we are proud to be a part of it."
Under the new program, all plan participants will meet a representative of CLS at enrollment meetings where they work. The representative will explain how the firm prepares a customized client profile to develop an investment strategy tailored to the individual's specific investment needs.
CLS will also explain the services offered, the criteria for allocating assets among the available mutual funds, how an individual's risk profile and time horizon are determined, the need for diversification and the importance of a long-term commitment. If an individual participant wants to take advantage of this customized investment program, there is no minimum investment requirement and the maximum advisory fee is 1.5% of assets annually, depending on the number of plan participants. There is no fee for plan sponsors.
Clarke Lanzen Skalla Investment Firm, Inc. is a professional money manager committed to helping investment advisors grow assets under management. CLS offers the expertise of a talented team of portfolio managers delivering wealth-building risk management services, managing mutual funds and variable annuities. CLS offers a tailored menu of investment services to meet the diverse needs of individual investors.
Founded in 1989, CLS helped pioneer the idea of managing client's portfolios for an advisory fee. Today, CLS is partnered with hundreds of financial consultants to provide clients with professional money management services.
###
401khelpcenter.com, LLC is not the author of this press release and is not associated or affiliated with any firm or organization mentioned unless otherwise noted. Use of any information obtained from this press release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com, LLC.
