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Rating:Mercer and Putnam Start a Tug-of-War Over 401k Clients Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 13, 2011

Mercer and Putnam Start a Tug-of-War Over 401k Clients

Reported by Armie Margaret Lee

As reported by The MFWire.com's sister publication The 401kWire last Friday, Mercer and Putnam Investments are now free to court their common defined contribution clients after their non-solitication agreement ended on December 31.

Previously, the two had agreed not to solicit business from a pool of 400-plus common clients, for whom Mercer serves as recordkeeper and Putnam serves as the provider of relationship management and communications services.

In March 2009, Putnam and Mercer decided to go after new business separately, but renewed their relationship for existing clients. That relationship will last through the end of this year, though the non-solicitation pact expired at the end of 2010.  

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