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2009 Press Releases

THE METLIFE BROKER DEALER GROUP LAUNCHES SECOND GENERATION OF ITS LEADING WEALTH MANAGEMENT SERVICES (WMS) PLATFORM

NEW YORK, APRIL 22, 2009 – The MetLife Broker-Dealer Group announced today the launch of the second generation of its Wealth Management Services (WMS) platform – a comprehensive online investment advisory product platform that enables advisors to seamlessly integrate a client’s accounts into a single, consolidated portfolio. Through numerous new enhancements including a Flexible Unified Managed Account (UMA), this platform is strongly positioned in the industry.

WMS is currently available through all Broker-Dealer channels at MetLife which includes MetLife Securities, New England Securities, Tower Square Securities and Walnut Street Securities. 

Introduced in 2005, in partnership with PNC Global Investment Servicing, and Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, the types of available products on the WMS platform now include:

  • Mutual Fund Wrap
  • Custom Mutual Fund Wrap
  • Representative as Portfolio Manager
  • Multi Discipline Accounts (MDA)
  • Separately Managed Accounts (SMA)
  • Flexible UMA

“At MetLife, we are continually looking for ways to enhance our support to our registered representatives across all of our Broker-Dealers by improving the platform to help them grow their businesses,” said John J. Brett, senior vice president of the MetLife Broker-Dealer Group.

“Feedback from advisors regarding the WMS platform has been overwhelmingly positive. To date, more than 25,000 accounts and $4 billion in assets under management is managed on this platform – a true testament to the value of this platform and our commitment to building and maintaining this momentum of success,” continues Brett.

In addition, many recent enhancements will add to the already robust WMS platform to integrate the array of investment vehicles into a single account, providing the client and the advisor with a truly comprehensive financial portfolio and advisory platform that provides:

  • Integrated views for:
    • Multiple investment vehicles, including mutual funds, exchange traded funds (ETFs), stocks, bonds, alternative investments, etc.
  • Proprietary investment research via ADVISORport Inc., a PNC company
  • Customized views and reporting that accommodate:
    • Single or multiple firms and/or distribution channels
    • Multiple offices, roles and hierarchies

“One of the main reasons we selected PNC Global Investment Servicing as a partner to create our new platform was their ability to provide packaged as well as open architecture managed account solutions, delivered on a single operating platform, managed by experts in this market,” said Jeffrey Wilk, vice president, Broker-Dealer Investment and Advisory Product Management. “Plus we were able to integrate our customized brands and features from some of our former proprietary programs which we migrated to this one while maintaining our clearing and custodial services offered through Pershing.”

“Having flexible products and platforms for use by our advisors in meeting client needs is essential,” says Wilk. “Operating with a one size fits all investment/advisory product philosophy no longer works, and our WMS platform now has the flexibility to meet virtually any need.”

ADVISORport, Inc. is a federally registered investment adviser, and a wholly owned subsidiary of PNC Global Investment Servicing (U.S.) Inc. In addition to ADVISORport’s investment advisory services, PNC’s managed account services group provides back-office solutions to registered investment advisors, broker/dealers, and money management firms. PNC Global Investment Servicing (www.pncgis.com) is a leading provider of processing, technology and business intelligence services to asset managers, broker/dealers and financial advisors worldwide.

MetLife Broker-Dealer Group consists of more than 13,000 registered representatives affiliated with MetLife’s FINRA-registered broker-dealers who sell MetLife products through five distribution channels, including MetLife Securities; MetLife Resources; New England Securities; Walnut Street Securities; and Tower Square Securities.

MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading provider of insurance, employee benefits and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. Through its subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance and retirement & savings products and services to corporations and other institutions. For more information, visit www.metlife.com.

Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors who collectively represent over five million active investors.  Located in 19 offices worldwide, Pershing is committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Börse, the Irish Stock Exchange and the London Stock Exchange.  Pershing LLC is a subsidiary of The Bank of New York Mellon Corporation.  Additional information is available at www.pershing.com.

hsheffer@metlife.com

jong@metlife.com

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