CUNA Mutual Group has named Jon Prescott president of CPI Qualified Plan Consultants Inc. Prescott has been with CPI since 1987, serving most recently as chief marketing officer. Previously Prescott held the position of vice president of national sales and product development, during which time he created more than 35 proprietary and co-branded 403(b), 401(k), and nonqualified deferred compensation programs for CPI and its strategic alliance firms, growing CPI’s assets under administration from $120 million to more than $6 billion. Kevin Thompson, CPI’s chief executive officer, commented, “Jon brings a deep knowledge and understanding of the retirement industry to the position.”
“CPI is well positioned for growth in the small to mid-size retirement plan market,” said Prescott. “We have the resources, credentials and award-winning recordkeeping capabilities to support financial advisers who have made retirement plans part of their business model.” I look forward to the new challenges the future holds.” he went on to say.
2012 is shaping up to be a busy year for Prescott and CPI. January and February new client sales are up over 70 percent from the same two-month period in 2011. This growth caused CPI to create three new positions on the internal sales team, which have been filled by residents of Great Bend and the surrounding Golden Belt area. CPI also recently released a rebranded corporate website (www.cpiqpc.com), as well as added new technology to make it easier for the participants of their retirement plan clients to reach their retirement goals. The new system, called GuidancePlus, not only helps the participant decide how much to save, but also helps them to decide how to invest their contributions.
In the distribution channel, CPI has completed contracts for relationships with two national broker dealer firms: Commonwealth Securities and Southwest Securities. Recent additions investment additions to the CPI platform include First Trust and Alta Trust collective investment trusts and the mutual funds of Russell Investments. New programs are also creating activity in this first quarter of 2012. CPI has adopted a larger focus on helping public schools provider better 403(b) retirement services for their administration, faculty, and staff; along with a new 401(k)/403(b) program for VALIC, Plan Essentials.
Since 1972 CPIQPC has provided recordkeeping and administration services for qualified and non-qualified retirement plans, partnering with the nation’s most prominent investment institutions and mutual fund companies. With corporate headquarters in Great Bend, Kansas, CPI has more than 400 employees and 20 consulting offices strategically located throughout the United States. CPI and its parent company, CUNA Mutual Group, currently provide services to more than 8,000 retirement plan clients and their financial advisers. For more information about CPI, visit www.cpiqpc.com or call 800-491-7859. CPI is a member of CUNA Mutual Group, a leading insurance and financial services organization based in Madison, Wis.