PlanMember Financial Corporation

Headquarters
Carpinteria, California

Sectors
Independent Broker-Dealer / Asset Management

Date of Realization
February 2013

Company Description

PlanMember Financial Corporation markets, administers and manages retirement plan investment products and services for individuals, employers and institutional alliance partners.  By focusing on creating a partnership with its representatives nationwide, PlanMember has developed a unique platform for offering retirement investment services.  The Company markets a proprietary retirement plan advisory program called the PlanMember Services Program that delivers a broad array of retirement plan services to sponsors and participants through individual representatives and affinity and employer groups.  These services include personalized planning and advisory services for individuals as well as complete plan sponsor services for employers.

LMP originally invested in PlanMember in October 2006, and in December 2010, provided the financial support for the Company’s acquisition of Scarborough Alliance Group, a provider of savings and retirement plans to the electrical workers unions. In February  2013, LMP sold its stake in PlanMember in a transaction led by AXA Group, a worldwide leader in financial protections strategies and wealth management.