Quote of the week

"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

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New Jersey-based Beacon Trust Company, a subsidiary of The Provident Bank, has hired Frank Deluca as a vice president and wealth advisor.

Deluca joined Beacon Trust from Bank of America Merrill Lynch, where he was a client manager and wealth management banker. There he was responsible for a portfolio of 400 households with $100 million in total deposits and investments, and $75 million in loans.

In his new role he will focus on asset allocation, retirement planning, and trust and estate planning.

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