Deals & People July 30, 2024

Lifetime Income Design Firm ARS Elevates Paulsen to CEO

The former head of distribution will lead the retirement income design company that has partnered with State Street on an in-plan lifetime income builder.

Reported by

Dave Paulsen

Advantage Retirement Solutions LLC, a lifetime income design and technology company better known as ARS, announced Tuesday that Dave Paulsen will take over as CEO from his prior role as head of distribution.

Paulsen will report to Co-Founders Don Dady, David Rauch and Ron Shurts; Dady had been acting in the role of CEO before Paulsen’s appointment.

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Paulsen takes the CEO position as ARS competes with providers of other defined contribution retirement income products that use insurance-backed annuities to provide guaranteed retirement income. The firm announced last year a target-date fund featuring an annuity income component made available in conjunction with asset manager State Street Global Advisors.

“I am honored to take on this role and excited to continue to work toward the many opportunities we have ahead,” said Paulsen in a statement. “Our focus at ARS remains designing cutting-edge lifetime income solutions that enable better participant outcomes and help more Americans become retirement-ready.”

Paulsen has more than 30 years of experience in retirement plans, asset management and insurance solutions. He joined ARS when it was created in 2020 as head of distribution.

Before working at ARS, Paulsen had been at Transamerica Corp. since 2007, starting as a national sales manager and working his way up to chief distribution officer in 2015. He led sales and marketing for retirement plans, annuities, mutual funds, life insurance, voluntary benefits, long-term care insurance and stable value.

Transamerica is one of the recordkeepers offering the ARS-backed State Street GTC Retirement Income Builder series to plans on its recordkeeping platform. Employers currently offering solutions that incorporate Lifetime Income Builder represent $2.5 billion in target-date-fund assets, an increase of nearly 60% in the last year, according to the firm.

As CEO of ARS, Paulsen will be responsible for growth, product development and distribution of the Lifetime Income Builder, which has a patent pending approval.

ARS is in active discussions with more than 30 mega plans and nearly 1,000 advisers about the Lifetime Income Builder offering, according to the firm. ARS is also working with advisers advocating for its use as a qualified default investment alternative in clients’ retirement plans.

“Our success is largely due to our strong leadership team, combined with industry veterans and experience outside of our industry, that brings perspective to solve one of our country’s greatest challenges—helping ensure Americans are financially prepared for retirement,” said Paulsen.

Deals & People July 30, 2024

MissionSquare Retirement Appoints New CEO and President

Andre Robinson will succeed Deanna Santana, who served as acting CEO and president since 2023.

Reported by

Andre Robinson

The Board of Directors of MissionSquare Retirement on Tuesday named Andre Robinson chief executive officer and president of the organization, effective September 3.

Robinson, who will also join the board, will succeed Deanna Santana, who served as acting CEO and president since 2023.

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Growing up in a household and community of public service professionals, Robinson says when he heard MissionSquare’s purpose to simplify the path to retirement security for public service employees, he felt immediately connected to its mission.

Robinson joins MissionSquare from Voya Financial, where he was the head of advice and guidance for the retirement business and served as president of Voya Financial Advisors, the company’s retail arm. In these roles, he oversaw strategic initiatives, including the optimization of technology platforms to enhance participant experiences and outcomes. He also launched and scaled new product offerings that provide participants with insights to inform their savings and investment decisions.

Prior to that role, Robinson worked at BNY Pershing, where he focused on driving institutional adoption of advisory-sponsored products and technology solutions.

Robinson says his first objective in the first year at MissionSquare is to “listen and learn.”

“The organization is very much in a strong position with a bright future,” he says. “My job is to listen and learn and determine where there’s going to be some innovative growth.”

Robinson also wants to ensure MissionSquare is delivering the best possible service for plan sponsors, as well as plan participants. He says he will be focused on improving the financial literacy of public service employees, with the goal of improving retirement preparedness.

Some of the main financial concerns of public service employees include affording college tuition and emergency expenses, and Robinson says it is important for MissionSquare to have the basic tenants and basic solution set to help those employees.

“As long as we are providing the appropriate advice and guidance, it will help our participants either retire on time or retire ahead of time,” Robinson says.

Bob Jones, chairman of the board, said in a press release that Robinson’s appointment followed an extensive, year-long search for a permanent CEO.

“It is clear that [Robinson’s] deep passion for improving lives through financial wellness, and his exciting vision for innovation and driving growth through expanded offerings, make him the ideal leader for the next chapter of MissionSquare’s journey,” Jones stated.

Robinson says he is excited to build upon MissionSquare’s 50-plus year legacy.

“I think you’re going see the brand itself expand and increase in terms of overall profile, and you’re going to see us expand into new growth geographies to better help our participants in the overall communities that we serve,” he says.

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