NEWARK, N.J.--(BUSINESS WIRE)--The Prudential Insurance Company of America, a wholly owned subsidiary of Prudential Financial, Inc. (NYSE:PRU - News), has entered into an agreement to acquire MullinTBG Insurance Agency Services, LLC (MullinTBG). According to the terms of the agreement, Prudential will acquire MullinTBG, a leading provider of executive benefit solutions and financing strategies, including deferred compensation programs, and related entities. MullinTBG will operate as an additional business unit of Prudential Retirement, a business of Prudential Financial, Inc.

“Prudential Retirement is responding to our clients and their increasing needs to provide nonqualified administration and funding as an integral part of retirement planning for their executives,” said Christine Marcks, president of Prudential Retirement. “We want to help companies simplify and enhance their benefit offerings by strengthening our position as a single source for both qualified and nonqualified retirement plans.” MullinTBG will retain its brand, business model and strategic distribution relationships, including continuing as a member firm of M Financial Group.

“MullinTBG and Prudential share a deep commitment to the retirement business,” said Michael Shute, CEO of MullinTBG. “As a leading financial services company, Prudential will provide even greater strength and resources for MullinTBG to serve clients’ evolving retirement needs. Expanding our retirement solutions with Prudential Retirement creates tremendous synergies between the two firms’ core businesses, without compromising MullinTBG’s unbiased approach and exceptional ability to design, administer and finance customized executive benefit programs.”

“We are impressed by MullinTBG’s ability to deliver innovative plan design, administration and funding with an open-architecture approach, which has resulted in a leading position in the retirement and executive benefits marketplace,” Marcks added. Corporate and participant investment advisory services will also be offered through MullinTBG Advisors, a Registered Investment Adviser and MullinTBG company.

Nonqualified deferred compensation plans are employer-sponsored retirement or deferred compensation plans that permit certain employees to put aside a portion of their taxable wages or bonuses until some date in the future. These plans are broadly used in corporations as an important way to attract and retain key executives.

The transaction is expected to close in the fourth quarter of 2008, subject to customary closing conditions, including regulatory approvals.

MullinTBG is a leading provider of executive benefit solutions and financing strategies, including nonqualified executive deferred compensation plans that encompass lifelong financial care through MullinTBG Advisors, a Registered Investment Adviser and MullinTBG Company. MullinTBG focuses on nonqualified benefits programs for Fortune 1000 clients, and currently administers and/or services over 650 customized plans with nearly 60,000 executive participants and $21 billion in total assets as of June 30, 2008. The firm is headquartered in Los Angeles, also home to its client-service center, and has regional offices in Baltimore, Boston, Chicago, Dallas, New York, and Newport Beach. Securities offered through M Holdings Securities, Inc., a Registered Broker/Dealer, Member FINRA and SIPC. MullinTBG and MullinTBG Insurance Agency Services, LLC are owned and operated independently from M Holdings Securities, Inc.

Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administration, investment management, comprehensive employee investment education and communications, and trustee services. With nearly 85 years of retirement experience, Prudential Retirement meets the needs of two million defined contribution participants and more than one million defined benefit participants and annuitants. Prudential Retirement has more than $158 billion in retirement account values as of June 30, 2008.

Prudential Financial, Inc. (NYSE: PRU - News), a financial services leader with approximately $638 billion of assets under management as of June 30, 2008, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping approximately 50 million individual and institutional customers grow and protect their wealth. The company’s well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit http://www.news.prudential.com.

Prudential Retirement, Prudential Financial, PRU, Prudential and the Rock logo are registered service marks of The Prudential Insurance Company of America, Newark, NJ, and its affiliates.

Insurance products and services are provided by The Prudential Insurance Company of America, Newark, NJ or its affiliates.

Prudential Financial, Inc.
Dawn Kelly, 973-802-7134 (office)
201-406-7248 (cell)
dawn.kelly@prudential.com