Mutual of Omaha has announced that it will expand its newly acquired Retirement Marketing Solutions subsidiary with the opening of an Omaha office and more than doubling the firm's workforce.
Based in Ohio, US, Retirement Marketing Solutions (RMS) is an independent wholesaler engaged in marketing retirement products in the 401(k), 403(b), 457 and individual rollover markets.
As a Mutual subsidiary, RMS will focus on generating sales for Mutual’s 401(k) product line through five primary distribution channels: third-party administrators, wirehouses, banks, independent financial planners and Mutual of Omaha agents. It also will distribute group annuity products through brokers and Mutual agents.
To align all retirement plan sales resources within one team, nine new positions will be created at RMS. Dave Ahrendt, senior vice president of retirement plans said that the positions will be filled by current Mutual of Omaha associates with most housed at the firm’s new Omaha office, which will open in July 2008.
Mr Ahrendt added: The acquisition of RMS and establishment of a strong Omaha presence demonstrates Mutual of Omaha’s national commitment to the retirement accumulation and post-retirement marketplace, as well as to the Omaha business community.