Omaha, Neb. – (April 16, 2008) Mutual of Omaha will significantly expand its newly acquired Retirement Marketing Solutions (RMS) subsidiary, opening an Omaha office and more than doubling the firm’s workforce, company officials announced.
Based in Dublin, Ohio, RMS is an independent wholesaler specializing in marketing retirement products in the 401(k), 403(b), 457 and individual rollover markets. It has a staff of five and contracts with approximately 50 wholesalers throughout the United States.
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. 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, said Dave Ahrendt, Senior Vice President-Retirement Plans.
“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,” Ahrendt said.
“The consolidation of our sales resources enables us to better leverage the strengths of RMS and Mutual of Omaha,” added RMS President and CEO Chuck Lombardo. “Sales associates will share common management and objectives, thus enhancing collaboration and encouraging cross selling across product lines.”
In addition, expansion of internal wholesaler capabilities is under way, with new positions anticipated in both the Omaha and Dublin RMS offices, Lombardo said.
Founded in 2001, RMS has annual sales of more than $500 million. Services include actuarial consulting, product design, marketing, information systems and technology, and internal sales support. The expansion will provide RMS with sales offices in Boston, Minneapolis and Denver in addition to its Dublin and Omaha offices.
Mutual of Omaha is a full-service, multi-line organization providing insurance and financial products for individuals, businesses and groups throughout the United States.
