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Administration April 10, 2004
BenefitStreet Picks Up S.F. Brokerage House
October 28, 2002 (PLANSPONSOR.com) - BenefitStreet,
Inc., a Ramon, California developer of retirement plan daily
valuation technology delivered through investment advisors,
has agreed to acquire EAInvest Securities, Inc, the companies
announced.
Reported by Fred Schneyer
EAInvest Securities is a San Francisco brokerage firm also focused on investment advisors.
An immediate by-product of the deal will be access to BenefitStreet’s $20 million/2 401(k) program by more than 60 EAInvest advisors, according to the announcement, which notes that the program helps advisors grow assets to a goal of $20 million in 2 years. To achieve this, BenefitStreet helps advisors locate plans, make proposal presentations and convert assets.
The companies said the 401(k) space is a potentially lucrative access point for advisors because it provides opportunities to work with highly compensated corporate executives as well as the retiree IRA rollover business.
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