PLANADVISER: Tell us about your role at your firm and how you contribute to its growth and progress.

Sommerville: I fulfill multiple roles within our team: managing the conversions and onboarding team, serving as corporate communication liaison, marketing liaison and acting as an account executive for key clients. These roles provide me with insights across departments, enhancing team dynamics and operational efficiency. I believe in contributing to our company’s growth through strategic thinking, collaboration and continuous improvement.

I contribute to our team’s growth in several ways:

• Driving Innovation: Introducing new ideas like offering project-only services in addition to our current services. Introducing new processes to boost efficiency, quality and market competitiveness, understanding customer needs and collaborating on solutions.
• Achieving Operational Excellence: Streamlining operations and optimizing workflows through technology enhancements such as new project tracking tools, leading to improved customer service.
• Building Strong Relationships: Cultivating positive connections with clients, stakeholders and colleagues to foster collaboration and business success.
• Marketing and Branding: Promoting our strengths through content creation, award recognition, engaging social media and industry participation.
• Adaptability and Resilience: Navigating industry changes like SECURE 2.0 with flexibility and resilience to seize opportunities.
• Leadership and Mentorship: Guiding colleagues and fostering a supportive work environment for team growth.

PLANADVISER: What steps do you think will help improve the retirement industry and participant outcomes in the future (particularly ways in which your firm can help with that progress)?

Sommerville: Improving the retirement industry and participant outcomes demands a comprehensive strategy. This involves enhancing education and financial literacy, expanding access to retirement plans, and integrating advanced technologies, among other initiatives. Our firm is uniquely positioned as a leader in shaping the future of retirement planning. We prioritize comprehensive client support by employing dedicated in-house project managers for seamless vendor transitions, in-house counsel for regulatory compliance, and education specialists tailoring programs to individual client and participant needs.

Similar to our parent company, Newfront, we leverage innovative technology to enhance service delivery and client experience at every stage. We simplify the complexities of retirement planning by managing custom investment lineups for optimal diversification, tracking regulatory changes and ensuring fee transparency for maximum participant returns. Our proactive approach ensures that while retirement planning deals with the future, our methods remain forward-thinking and responsive to industry dynamics.

PLANADVISER: What have you done that you are most proud of?

Sommerville: Interestingly, despite initially shying away from finance as a career choice, I found myself drawn into the field after college. Encouraged to join a mutual fund company for learning purposes, I embarked on an eye-opening journey. Through an intensive eight-week training course, I quickly absorbed a wealth of knowledge and discovered a knack for the industry. Excelling in my initial role led me to being able to oversee and mentor my own team and dive into the intricacies of the retirement industry.

What began as a surprise soon evolved into a passion. I was captivated by the industry’s complexities and swiftly took on sole responsibility for managing intricate retirement projects. Reflecting on this journey, I take pride in stepping out of my comfort zone to explore and ultimately excel in a career I hadn’t initially considered. This experience underscores my commitment to continuous growth and embracing new challenges in pursuit of professional fulfillment.