NU Online News Service, Nov. 8, 3:00 p.m. – The Guardian Life Insurance Company of America, New York, says it nearing the end of a recruitment drive aimed at significantly expanding its sales of 401(k) and other retirement plans to employer groups.
The company says it has filled 17 of 18 new wholesaler positions it created earlier this year to expand distribution of its 401(k) and retirement products. Since then, Guardian Group Pensions has doubled its internal distribution force to 36 wholesalers in 28 sales areas across the country.
Dennis Mosticchio, vice president of Guardian Group Pensions, says the company is pushing to widen its stake in the small business retirement plan market. In the eight years that Guardian has been in the retirement plan business, the company has acquired more than 6,000 clients.
Guardian’s Group Pensions Division manages more than $2.6 billion in qualified retirement plan assets. Its parent, the Guardian Life Insurance Company of America, and its subsidiaries had $32.4 billion in assets at the end of last year.