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Prudential Investments Profile
Changing a brand name can be difficult and costly, but
Prudential Investments, formerly Jennison-Dryden
<view complete profile>, thinks that the risks are
worth taking to align itself with a strong brand in the
retirement market.
Based on recent results, it looks like the move
is paying off.
Though some funds will retain the well respected “Jennison”
name using Prudential-Jennison, the rest of the funds
will be branded Prudential Investments.
The name was
originally changed to sell to 3rd party
broker dealers when Prudential still owned one.
With placement on most major platforms in the DC
advisor sold world, Prudential Investments has garnered
$6 billion in DCIO assets over the last three years,
which is especially impressive given the market
conditions.
Led by Michael Rosenberg, a
well respected industry veteran formerly from Goldman
Sachs’ retirement division, Prudential has 3 external
wholesalers, 2 internals, and 2 key account managers.
Their focus is clearly on DC advisors offering A,
R and Z (institutional) shares.
They are especially strong in large, mid, & small
cap growth, natural resources, total return, and core
bonds which compete with Pimco.
The DCIO team partners with 30 retail wholesalers
and a team of 18 hybrids who will spend more time in the
field this year covering the independent channels.
Value add for advisors includes actionable reports that
Prudential Investments delivers in client ready formats
to the advisor.
This includes an investment analytic report using MPI
Stylus, an investment policy review which reports issues
if the client or advisor answers yes to any of a series
of questions, along with a similar report for funds in
the plan. They
supply IP monitoring using Uptick Data Technologies and
analysis of individual 5500 reports using 401kExchange’s
Fiduciary Analytic Compliance Toolkit (FACT), a resource
found within Prospect Goldmine.
With deep roots in the DC market, excellent
funds, and experienced senior managers, Prudential is a
key ally to any DC focused advisor.
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