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OneAmerica / AUL Profile
OneAmerica, based in
Indianapolis,
IN,
has a long and well respected history as a record keeper
focused on bundled group annuity products in the small
and micro Defined Contribution (DC) market.
Highly rated in various
industry studies, OneAmerica has traditionally flown
under the radar of the higher profile insurance
providers like John Hancock and ING.
OneAmerica is making a strong play with recent
acquisitions of a 403(b) book of business and talented
sales professionals who have successfully worked with
mid-market ($10-$100 million) plans.
The firm most recently acquired by OneAmerica
Financial Partners is McCready and Keene, Inc., one of
the nation’s largest independent actuarial and
consulting firms specializing in the design and
administration of retirement plans.
The additional platforms and capabilities
provided by McCready and Keene, will be used to extend
OneAmerica’s reach into the medium-to-large markets that
often look for the combination of products they can now
offer. The
transaction which took place on July 1, 2010, brings $19
billion and 500,000 participants.
Since both companies are headquarter in
Indianapolis, the transition should go smoothly.
Working with Bill are Mark Glavin and Peter Welsh.
Glavin runs sales
and had worked previously with Principal.
Welsh
runs marketing and partner support and gained his
experience at Transamerica and Lincoln.
Over the past
year, OneAmerica has attracted Mitch Haber, a top
wholesaler from MassMutual located in
Southern California,
who quickly helped them close the mid-market Eddie Bauer
Plan.
Most
recently Don Barden, also from MassMutual and located in
Atlanta,
who has closed a mega plan with a major hotel chain also
join the OneAmerica team.
OneAmerica
employs a national staff of over 30 wholesalers in the
field with internal support and routinely gets top
ratings from advisors in the DCP Advisor Study.
Focused on group annuity but now offering mutual funds
at NAV, OneAmerica has traditionally offered a singular
bundled service.
Recently they announced an unbundled offering working
with local TPA’s that has been very well received.
They added the 403(b) business acquired from
Transamerica in 2007, which is becoming more of a focus.
With upgrades to their systems, OneAmerica has
been able to offer substantial investment flexibility
beyond mutual funds to alternative investments, which is
one reason they are starting to attract larger plans and
sales professionals.
With a strong commitment by their parent to the
DC market, well respected and experienced senior
management, a national sales force, and state of the art
systems, advisors working in the micro to mid markets
should take a new look at OneAmerica as a viable and
attractive alternative for their bundled and unbundled
DC opportunities.
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