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PRUDENTIAL SECURITIES TO INTRODUCE A NO-FEE IRA OPTION FOR PRUDENTIAL MUTUAL FUND INVESTORS

 PRUDENTIAL SECURITIES TO INTRODUCE A NO-FEE IRA OPTION
 FOR PRUDENTIAL MUTUAL FUND INVESTORS
 NEW YORK, Oct. 21 /PRNewswire/ -- Prudential Securities, the third largest brokerage firm in the United States, said today that effective Nov. 1, it will begin offering a no-fee IRA for Prudential mutual fund investors, as part of its new Flexi-IRA program.
 Under the Prudential Securities' Flexi-IRA, the annual maintenance fee of $35 will be waived for IRA account holders who are entirely invested in Prudential Mutual Funds, excluding money market funds. Investors can choose from more than 40 equity and bond funds available within the Prudential Mutual Fund family but must have $100 or less in cash or a Prudential money market fund. Prudential Securities is the only full service securities firm to implement this type of IRA pricing structure.
 According to Betsy Ruppel, director of retirement plans at Prudential Securities, "The Flexi-IRA is about choice. The no-fee Flexi-IRA is designed as a cost-effective alternative for investors who believe that mutual funds can meet their long-term IRA investment goals."
 Ms. Ruppel added that Prudential Securities will also continue to offer a Self-Directed Flexi-IRA, which provides a wide range of investment choices including stocks, bonds, mutual funds, annuities and unit investment trusts.
 "The no-fee Flexi-IRA offers IRA investors all of the benefits of doing business with a full service brokerage firm and of a self-directed retirement account, the most important being personalized service of the Prudential Securities' Financial Advisors," said Ms. Ruppel. "When saving for something as important as retirement, advice from an experienced investment professional can be the key to financial security."
 Ms. Ruppel noted that the decision to implement this new IRA pricing structure underscores Prudential Securities' commitment to meeting the needs of its clients by providing a no-fee IRA which can be ideal for smaller IRA account holders or individuals establishing IRA rollovers.
 Prudential Securities is a fully diversified, global securities firm based in New York City. The firm, which has some 2.7 million individual accounts, serves individuals and institutional clients in the U.S. and overseas through nearly 300 offices and 6,000 financial advisors. Prudential Securities is a subsidiary of The Prudential Insurance Company of America.
 -0- 10/21/92
 /CONTACT: William J. Ahearn, 212-214-3955, or Jane C. Ingalls, 212-214-3958, both of Prudential Securities/ CO: Prudential Securities ST: New York IN: FIN SU: PDT


PS-OS -- NY074 -- 2921 10/21/92 12:56 EDT
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Publication:PR Newswire
Date:Oct 21, 1992
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