Dean Saluti – Thank You to our clients

Dean Saluti and all of the Saluti Cahn associates would like to wish our clients a happy, safe holiday season and best wishes for a prosperous 2010.

Since 1978, Saluti Cahn has successfully completed projects for over fifty leading companies in the financial services industry.  That list includes, but is not limited to:

  1. Bank of America – http://bankofamerica.com
  2. Bisys – https://www.bisysinsurance.com/
  3. Fascore Record Keeping Services – http://www.fascore.com/
  4. Fidelity Investments – http://www.fidelity.com
  5. MFS – http://www.mfs.com
  6. Pentegra Retirement Services – http://www.pentegra.com/pentegra/default.aspx
  7. Rockefeller and Co. – http://www.rockco.com/
  8. Sovereign Bank – http://www.sovereignbank.com/
  9. State Street Bank – http://statestreet.com
  10. Vanguard Investments – http://www.vanguard.com/

RETIREMENT SYSTEM CONVERSIONS – SALUTI CAHN

Examples of Retirement System Conversion Projects:

2007-2008: Bank of America (https://www.bankofamerica.com/retirementcenter)

- Employee Benefit Reporting (EBR), SEI to AMTrust (PACE) and SunGard OmniPay (GUI).

Reference: Joseph Zelaway (617-346-5084)

2007: Lincoln Financial (http://www.lfg.com/LincolnPageServer?LFGPage=/lfg/lfgclient/act/ret/index.html)

– From one proprietary Recordkeeping System to another proprietary Recordkeeping System Platform (Fort Wayne, IN).

Reference: James Racine (260-455-4944)

2007: Lincoln Financial (http://www.lfg.com/LincolnPageServer?LFGPage=/lfg/lfgclient/act/ret/index.html)

– From an HP proprietary Recordkeeping System to another proprietary Recordkeeping System, OASYS (Arlington Heights, IL).

Reference: James Racine (260-455-4944)

2006: Bank of America (https://www.bankofamerica.com/retirementcenter)

– Retirement Disbursements, SunGard OmniPay to GUI.

Reference: Thomas Fenton (860-952-7070)

2001: Wachovia (www.wachovia.com)

– Retirement Recordkeeping System, Schwab SRT to WySTAR.

Reference: Angie McDaniel (704-590-8771)

1999: Bank One

– Retirement Recordkeeping System, SunGard OmniPlan to SunGard OmniPlus.

Reference: Glenn Brown (313-343-8533)

1999: Bank One

– Retirement Disbursements, SunGard OmniPay to GUI.

Reference: Glenn Brown (313-343-8533)

Other Conversion Projects:

Trust – At least 10 Trust System Conversions to SEI, and then, from SEI to AMTrust.

(https://www.bankofamerica.com/retirementcenter)

Reference: Thomas Fenton (860-952-7070)

Wealth Management – Rockefeller and Company to Rockit.

Reference: David Pagliaro (212-649-5600)

Bank Operations – Numerous Bank Operations System Conversions.

Reference: Kathy Oliver, Sovereign Bank (617-533-1515)

Saluti Cahn Contact

Saluti Cahn contact: Marjorie Cahn, Principal, at (617)285-6564 (cell).

RETIREMENT OPERATIONS MERGERS, ACQUISITIONS, AND CONSOLIDATIONS – SALUTI CAHN

Examples of Retirement Operations Mergers, Acquisitions, and Consolidations Projects:

2008: Pentegra Retirement Services (www.Pentegra.com)

- Per Saluti Cahn recommendation, Pentegra acquired its competitor, RSGroup.  Saluti Cahn performed a Consolidation Gap Analysis and several hundred Gaps were identified and resolved through an analysis of hundreds of procedures from both entities.  Documentation was developed for the receiving entity (Pentegra) staff re-training.

Reference: Gwen Burroughs (914-821-9430)

2006-2007: Lincoln Financial (http://www.lfg.com/LincolnPageServer?LFGPage=/lfg/lfgclient/act/ret/index.html)

- Saluti Cahn created procedures for a Lincoln Recordkeeping facility located in Portland, ME. Then, the Portland facility was closed down and these procedures were utilized for re-training of Lincoln Fort Wayne, IN staff as the receiving entity for the Portland close-down.

- Saluti Cahn completed a project at the Arlington Heights, IL Lincoln Financial facility.  In this project, Saluti Cahn dissected and analyzed selected procedures, such as Distributions and Loans, in order to create functionalized units.  Prior to Saluti Cahn’s efforts, these procedures were performed by relationship managers and were not standardized or documented.  Functionalized operational units were created in Arlington Heights in order to move these procedures via consolidation to the Lincoln Financial Fort Wayne, IN facility.

Reference: James Racine (260-455-4944)

2005: FASCore Retirement Services (www.FAScore.com)

– When FASCore acquired EMJAY in Milwaukee, WI, Saluti Cahn was tasked to assist in the acquisition.  Saluti Cahn inventoried, dissected, and analyzed EMJAY procedures.  Significant efficiencies and controls were implemented enabling FASCore to immediately increase EMJAY “Balance Forward” Plans from 300 to 3,000.

Reference: Darlene Soderquist (414-906-2989)

2003-2004: Wachovia (www.wachovia.com)

- Saluti Cahn performed a Consolidation Gap Analysis for Wachovia’s acquisition of PFPC. Over one thousand Gaps were identified and resolved through an analysis of hundreds of Procedures from both entities.  Documentation was developed for the receiving entity (Wachovia) staff re-training.

Reference: Angie McDaniel (704-590-8771)

2003: BISYS (http://www.bisysretirement.com)

– Saluti Cahn performed a Consolidation Gap Analysis for the BISYS assumption of the            outsourced US Bank Retirement Operation. It should be noted that US Bank Trust was already a Saluti Cahn Client. Hundreds of Gaps were identified and resolved through an analysis of hundreds of procedures from both entities.  Documentation was developed for the receiving entity (BISYS) staff re-training.

Reference: Shannon Kelly (215-648-4811)

Saluti Cahn Contact

Saluti Cahn Contact: Marjorie Cahn, Principal, at (617)285-6564 (cell).

RETIREMENT OPERATIONS EFFICIENCIES AND COST SAVINGS – SALUTI CAHN

Examples of Retirement Operational Efficiencies Projects:

2008 to 2009: Vanguard Retirement Services (www.RetirementPlans.Vanguard.com)

– After only five months, Saluti Cahn identified significant operational efficiencies, resulting in 90 potential FTE cost savings – approximately $4.5M. Dissected and documented all assigned critical Recordkeeping Operations procedures in order to implement controls and Industry Standard Best Practices.

Reference: Kristina Harris (610-669-8188)

2007 to 2008: Pentegra Retirement Services (www.Pentegra.com)

– Dissected and documented all assigned critical Recordkeeping procedures (over 100), implementing controls and Industry Standard Best Practices. Significant FTE cost savings were also realized through efficiencies identified.

Reference: Gwen Burroughs (914-821-9430)

2006 to 2007: Lincoln Financial (http://www.lfg.com/LincolnPageServer?LFGPage=/lfg/lfgclient/act/ret/index.html)

– In the first three weeks of assignment, Saluti Cahn identified 9+ FTE cost savings in the Fort Wayne, IN New Business, Participant Call Center, and Transaction Research units. All Saluti Cahn efficiencies, controls, and Industry Standard Best Practices recommendations were implemented by Lincoln. The Fort Wayne, IN New Business Unit realized a 50% reduction in Plan conversion time.

Reference: James Racine (260-455-4944)

2005 to 2006: MFS (www.MFS.com)

– Saluti Cahn reduced the time required for new Plan conversion by more than 50% and created efficiencies, controls, and Industry Standard Best Practices for the New Business unit.  Technical, single subject matter expert (SME) procedures, such as Customized Pricing and Plan Document Creation were dissected and documented. FTE cost savings enabled MFS to allow attrition to reduce headcount.

Reference: Catherine Manganese (617-954-6812)

2005 to 2006: Wachovia, Retirement Fees Unit (www.wachovia.com)

– Dissected and documented over 70 Fees procedures in order to implement controls and Industry Standard Best Practices.  Significant efficiencies were realized.

Reference: Angie McDaniel (704-590-8771)

2003 to 2005: FASCore Retirement Services (www.FAScore.com)

– Dissected and documented several hundred procedures, implementing efficiencies, controls, and Industry Standard Best Practices.  Developed the data element Field Design for an Upfront Web Application to be used by both the Plan and FASCore for new Plan setup data entry. This Project also reduced the data entry Fields by identifying irrelevant Fields, duplicate data elements, and those Fields that should be hardcoded.

Reference: John Fellin (303-737-1229)

2002 to 2004: BISYS Retirement Services (http://www.bisysretirement.com)

– Dissected and documented all assigned critical Recordkeeping Operations procedures in order to implement efficiencies, FTE cost savings, controls, and Industry Standard Best Practices.  Significant FTE cost savings were realized.

Reference: Shannon Kelly (215-648-4811)

1999 to 2001: Charles Schwab Retirement Services (www.SchwabPlan.com)

– Dissected and documented all assigned critical procedures in order to implement efficiencies and controls for both the Call Center and Operations. Responsible for the development and implementation of Schwab’s Self-Directed Account processing (PCRA), integrating Recordkeeping (Akron, OH), Trading (Phoenix, AZ), and Trust (San Francisco, CA).

Reference: Dean Kohmann (330-908-4167)

Saluti Cahn Contact

Saluti Cahn contact: Marjorie Cahn, Principal, at (617)285-6564 (cell).