Press Releases
Unit of Lifetime Income Store Advisors Tapped to Manage Defined Benefit Plans
TULSA, OK - May 28, 2020 - Topeka-based Kansas Bankers Association, and Yankton, SD-based First Dakota National Bank each recently appointed Institutional Advisors to provide Pension Consulting Services for their respective Defined Benefit Plans. The transactions add a combined $3,000,000 in AUM under the direction of Institutional Advisors, the ERISA & Institutional Advisory unit of Lifetime Income Store Advisors, LLC. (LISA), Tulsa, Oklahoma.
Institutional Advisors has developed the capacity to deliver innovative pension risk solutions at rates that reduce Sponsor cost exposure by as much as 50% below current industry standards.
“Our organization had searched extensively for the right resource partner to assist us with our frozen defined benefit plan. We were very pleased to engage Institutional Advisors and have been even more pleased with their innovative approach to pension risk, cost-efficient deliverables, and attention to detail,” said Doug Wareham, President & CEO of Kansas Bankers Association.
“We have perfected the model to deliver pension risk management more cost efficiently than ever before”, said Jeff Hale, SVP of Lifetime Income Store Advisors, and lead executive of the Institutional Advisors unit, “and plan sponsors need to be aware that an alternative exists that makes it very attractive to take action in the short term.”
“The partnership with Institutional Advisors plays an important role in executing on our long-term strategy of pension risk management,” said Rob Ness, Chief Financial Officer of First Dakota National Bank.
“It is particularly remarkable First Dakota and KBA were able to maintain focus on their pension liabilities amid the COVID-19 pandemic, the PPP process, and significant market volatility,” said Hale added. “In this current environment, conditions are highly favorable for firms seeking to limit costs and downside risks associated with their pension plans. We are thrilled to partner with both of these prestigious plans, and help them achieve their financial goals.”
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ABOUT KANSAS BANKERS ASSOCIATION
Founded in 1887, the Kansas Bankers Association currently represents 98% of Kansas-chartered Banks and Savings & Loans, as well as 19 out-of-state Commercial Banks operating in Kansas. The state Banking Industry employs nearly 15,000 Kansans that serve the banking needs of communities across the state.
Our organizational mission statement is: “Together we support our member banks and bankers with leadership, advocacy, and education, to benefit the communities and customers they serve.”
To learn more about the KBA, visit www.ksbankers.com
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ABOUT FIRST DAKOTA NATIONAL BANK
First Dakota National Bank was founded in 1872 and holds the first bank charter issued in Dakota Territory. It has 18 full-service banking locations in 13 South Dakota cities. It also has five loan production offices throughout South Dakota and Nebraska.
To learn more about First Dakota National Bank, visit https://www.firstdakota.com/
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ABOUT INSTITUTIONAL ADVISORS
Institutional Advisors is the ERISA advisory unit of Lifetime Income Store Advisors, LLC, a sister firm of Lifetime Income Store, Inc., of Tulsa, Oklahoma.
Lifetime Income Store Advisors, LLC is a Registered Investment Advisor serving Clients across the US with industry-leading results in an endowment style of asset management based on Graham’s methodology.
Lifetime Income Store, Inc is an industry-leading provider of Superior Income & Retirement Plans serving Clients across the US. Representatives of the Firm are Insurance & Annuity licensed in multiple state.
All firms and affiliates under the Lifetime Income Store banner operate with strict adherence to Fiduciary and/or CFA Guidelines of Client-first advice and solutions.
For more information, contact:
Jeffrey B. Hale, AIFA® SVP, ERISA Plans - Institutional Advisors
2511 East 21st Street Tulsa, OK 74114 (918) 240-6016 jhale@lifetimeincomestore.com
Or visit: www.lifetimeincomestore.com