Framewor product promotion has generated over $2 billion
ING’s US Retirement Services operations have launched a new series of educational roundtable discussions for mid market retirement plan consultants (MMRPs) and registered investment advisors (RIAs). ING intends to use the roundtable discussions to promote relationships and grow in the mid market space, which includes employers with $20 million to $150 million in retirement plan assets.
According to the company, roundtables discussion topics range from investment monitoring and oversight to industry trends on automatic plan features and target date funds. In conjunction with this, ING has also been featuring its Framewor product, a retirement plan suit that can be customised for mid market employers.
Pat Bello, Head of mid market sales for ING US Retirement Services, said: “We’re thrilled to be offering Framewor across all of ING’s distribution channels. This product offers large plan features, such as pure open architecture and full fee disclosure, while providing mid market sponsors with a cost-effective operating platform.”
ING acquired Framewor in 2008, when it purchased the former CitiStreet business. The company stated that Framewor allows plan sponsors and financial professionals to select any funds they want for their lineup, without any proprietary requirement. This year, Framewor product promotion has generated over $2 billion in its current mid market sales pipeline. ING expects this number to continue growing as a result of the mid market roundtable series.
The roundtable series’ first event was held on June 9 in Washington DC. ING would also host a larger, mid market summit on September 9 and 10, in an effort to expand its relationships with distribution partners in this community.