NEW YORK, June 5, 2012 /PRNewswire/ -- National Financial
Partners Corp. (NYSE: NFP), a leading provider of benefits,
insurance and wealth management services, today announced that NFP
Executive Benefits launched an enhanced version of its Client Plan
Administration Delivery System or "CPADS" system. CPADS provides
bank owned life insurance (BOLI) administration to nearly 700 bank
and financial institution clients.
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Matt Andersen, head of NFP
Executive Benefits, commented, "The commitment from NFP Executive
Benefits to grow our client value proposition with technology
remains a key strategy and a core competency of the organization.
We continually invest in our systems, and the newly designed CPADS
takes our bank and financial institution client service
capabilities to the next level."
NFP Executive Benefits employs the proprietary CPADS as a
Web-based administration program for nonqualified plans and BOLI.
The system automates the gathering, storage and distribution of key
benefit and policy data to help resolve one of a bank's most
challenging administrative issues: getting timely and accurate plan
information. CPADS is a powerful service for clients that provides
asset accounting, benefit liability accounting, concentration
analysis, helps banks meet regulatory compliance requirements, as
well as providing consolidated reports and other tax and
accounting support. CPADS offers privacy and commitment to data
protection for our clients by including an IT policy that adheres
to ISO 27002 standards, being SSAE 16 (formally known as SAS 70
Type II) compliant, and having a multi-firewall strategy, virus
protection, encryption of confidential data and strong login
credentials.
With new features such as streamlined navigation, a personalized
home page and dashboard, news and updates, this industry-leading
system continues to deliver better service.
Commenting on today's announcement, Kim
Clarke, a senior executive with NFP Executive Benefits,
said, "We are again at the forefront of technology with this system
enhancement. Clients will notice the upgrades, including the
point-and-click navigation, aesthetics that are pleasing for the
user, and an even greater depth of reporting and information. We
continue to respond to the needs of the banking and financial
institution industry with our commitment to service and
technology."
About NFP Executive Benefits
NFP Executive Benefits, a part of NFP Corporate Client
Group, provides nonqualified plan consulting and administration,
institutional funding solutions for corporations and banks and
executive life and disability for executives and boards of
directors. The group provides its industry-leading services to over
1,100 corporations and banks in the
United States as well as in more than 65 other countries. To
learn more, visit www.nfpeb.com.
About NFP
National Financial Partners Corp. (NYSE: NFP), and its
benefits, insurance and wealth management businesses provide
diversified advisory and brokerage services to companies and high
net worth individuals, partnering with them to preserve their
assets and prosper over the long term. NFP advisors provide
innovative and comprehensive solutions, backed by NFP's national
scale and resources. NFP operates in three business segments. The
Corporate Client Group provides corporate and executive benefits,
retirement plans and property and casualty insurance. The
Individual Client Group includes retail and wholesale life
insurance brokerage and wealth management advisory services. The
Advisor Services Group serves independent financial advisors by
offering broker-dealer and asset management products and services.
Most recently, NFP was ranked as the eighth Top Global Insurance
Broker by Best's Review; operated the fourth largest Executive
Benefits Provider of nonqualified deferred compensation plans
administered for recordkeeping clients as ranked by PlanSponsor;
operated a top ten Independent Broker Dealer as ranked by Financial
Planning and Financial Advisor; had three advisors ranked in
Barron's Top 100 Independent Financial Advisors and is a leading
independent life insurance distributor according to many top-tier
carriers. For more information, visit www.nfp.com.
SOURCE National Financial Partners Corp.