Retirement Industry People Moves

IRI Hires Chief Technology and Innovation Officer

The Insured Retirement Institute has named Katherine Dease as chief technology and innovation officer. In this role, she will be responsible for the overall strategy and implementation of IRI’s operations and technology membership programs.

“One of IRI’s unique strategic objectives is to lead the industry in developing the digital solutions that our industry needs to meet the rapidly changing product needs and service expectations of advisers and consumers,” said Wayne Chopus, IRI president and CEO.

Dease brings more than 20 years of experience developing and releasing technology solutions. She joins IRI from Insurance Technologies, Inc., now Hexure, where she held roles as head of market intelligence and chief product officer. She was responsible for delivering industry knowledge, market research, competitive analysis and strategic planning with roadmap creation and execution.

Millennium Trust Names New CEO

Millennium Trust Company, LLC, a provider of retirement, custodial and consumer-directed benefits solutions, has announced the promotion of Dan Laszlo to CEO, effective immediately.

Laszlo succeeds retiring CEO Gary Anetsberger, who will continue to serve Millennium Trust as executive chairman on its board of directors. Laszlo joined Millennium Trust almost seven years ago as chief financial officer. In June 2022, following Millennium Trust’s acquisition of PayFlex Holdings, Inc. from CVS Health, he also assumed the role of chief operating officer.

Millennium Trust acquired PayFlex as part of its efforts to accelerate the company’s convergence of retirement, wealth, health and benefits-related financial services. Laszlo’s experience in repositioning businesses, attracting capital, recruiting top talent and completing strategic acquisitions will be crucial as Millennium Trust continues its evolution as a holistic financial wellness partner.

Prior to joining Millennium Trust in 2015, Laszlo held investment banking and private equity roles at William Blair, Goldman Sachs and GTCR, collectively spending more than a decade focused on mergers and acquisitions and capital markets transactions across the financial services and financial technology sectors.

$5 Billion Multi-Family Office and Investment Firm Nordwand Capital Launches

Financial adviser Jim Martin and a team of four professionals have announced the launch of a new multi-family office and investment firm called Nordwand Capital in Radnor, Pennsylvania, with a presence in New York City and Boston.

Nordwand Capital serves families with whom the team has worked for many years. With approximately $5 billion in client assets, the firm cultivates a prudent long-term investment philosophy that prioritizes performance across asset classes. Nordwand is focused on generational continuity, philanthropy and service as core tenets of investing and client service.

In addition to being a registered investment adviser, the firm has established Nordwand Investments, LLC as an independent entity designed to facilitate co-investment opportunities with some of the world’s most sophisticated investors in a fully aligned manner and with favorable economic structures. Nordwand Investments will be the general partner of several listed and private investment funds and opportunistic special purpose vehicles and has received more than $250 million in seed capital for its first three funds from its founding family partners.

Nordwand Capital has selected Fidelity Brokerage Services LLC as its custodian. Fidelity Institutional provides clearing, custody or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC. Fidelity Family Office Services is a division of Fidelity Brokerage Services LLC.

Jim Martin joins Nordwand capital as CEO and CIO. He was most recently a managing director at Morgan Stanley Private Wealth Management, which he joined in 2016 from Credit Suisse’s private-banking division. Earlier, Martin was a founding member of Donaldson, Lufkin & Jenrette’s Philadelphia office. Martin maintains his Series 7 and 66 certifications. He received a B.S. in finance from St. Joseph’s University.

Joining Jim Martin are the following professionals:

Christopher Boyle as chief operating officer. Before joining Nordwand, Boyle was a wealth management analyst at Morgan Stanley Private Wealth Management, where he oversaw and executed complex operational solutions for clients’ portfolios. He, too, joined Morgan Stanley in 2016 from Credit Suisse’s private bank after previously working as a client services manager at Zeke Capital Advisors. Boyle maintains his Series 7 and 66 certifications. He graduated from St. Joseph’s University with a B.S. in finance.

Theodore W. Brooks, head of listed strategies. Before joining Nordwand, Brooks was vice president of investor relations at EVgo, a fast-charging network for electric vehicles. Prior to EVgo, he headed the global listed infrastructure group at CenterSquare Investment Management, investing in global equities across the utilities, transportation, telecommunications and energy sectors. Previously, Brooks was a director in equity research at Barclays Capital and Lehman Brothers. Before that, he worked in investment banking at Credit Suisse First Boston and in wealth management at Donaldson, Lufkin and Jenrette. Brooks is a CFA charter holder. He earned his B.A. in history from the College of the Holy Cross and received his MBA in finance from New York University’s Stern School of Business.

Connor Martin as a senior associate. Martin joins Nordwand Capital from Cambridge Associates, where he served as a senior investment associate. There, he worked closely with endowment and foundation clients throughout the U.S. Martin maintains his Series 65 certification. He earned a B.S. in economics from Boston College.

Daniel Kane as a senior associate. Kane joins Nordwand from Morgan Stanley, where he has advised ultra-high net worth individuals and families on complex, tax-aware investment strategies since 2018. Prior to Morgan Stanley, he was an investment specialist at UBS, where his team collectively managed more than $1 billion in client assets. He also worked at RDA Ventures as a private investment analyst. Kane maintains his Series 7 and 66 certifications. He graduated from Gettysburg College with a B.A. in English.

Nordwand Capital has selected eMoney for financial planning and Addepar for performance reporting.

Eight-Member Wealth Management Team Joins First Republic

First Republic Bank, a private bank and wealth management company, has announced that an eight-person team led by Jeremy McChesney, Marci Rosenfeld, Jim Morehouse, Todd Duncan and Jessica Huang has joined First Republic Investment Management.

McChesney, Rosenfeld, Morehouse and Duncan were each named managing director and wealth manager. Huang was named vice president and wealth manager. Based in Palo Alto, the team will provide portfolio management, retirement planning, investment consulting and other wealth management services to individuals, families, nonprofits and private family foundations.

McChesney has more than 13 years of wealth management experience providing customized solutions for Silicon Valley technology entrepreneurs and executives, with a focus in cash-flow modeling and retirement planning. Before joining First Republic, he was a private wealth financial adviser and managing director of investments at Wells Fargo Advisors. McChesney received a Bachelor of Arts degree in communications from the University of California, Davis. He is a CFP professional.

Rosenfeld has more than 20 years of wealth management experience providing customized solutions for corporate executives, entrepreneurs and investors transitioning their businesses through mergers and acquisitions. Before joining First Republic, Rosenfeld was a managing director and private wealth adviser at Wells Fargo Private Bank. Prior to that, she was head of integrated strategies group at Deutsche Bank National Trust Company. Rosenfeld has been active in her local community for many years and is currently the chair of the board of trustees for Working Solutions CDFI, a San Francisco–based community development financial institution providing entrepreneurs with affordable small-business loans. Rosenfeld is also the vice chair of the board of trustees of the Contemporary Jewish Museum in San Francisco. She received a Bachelor of Arts degree, graduating magma cum laude with an honors distinction in biology, from the University of Pennsylvania and a Juris Doctor degree from the Columbia University School of Law.

Morehouse has nearly 10 years of wealth management experience providing customized solutions for executives and entrepreneurs. Before joining First Republic, he was a senior financial adviser and senior vice president of investments at Wells Fargo Advisors. Morehouse received a Bachelor of Arts degree from California State University, Chico. He has also completed the personal financial planning curriculum at the University of California, Los Angeles.

Duncan has more than 20 years of wealth management experience providing customized solutions for business owners, private equity executives, tech entrepreneurs and executives, and professional athletes. He specializes in portfolio construction, implementation and management. Before joining First Republic, Duncan was a lead private wealth portfolio manager at Wells Fargo Private Bank. Prior to that, he was a portfolio manager at Enterprise Trust and Investment Company. Active in his local community for many years, Duncan is currently a member of the investment committee for Bellarmine College Preparatory. He received an MBA from the Lucas College of Business at San Jose State University. Duncan holds the Chartered Financial Analyst designation.

Huang has more than 11 years of wealth management experience providing customized solutions for high-net-worth individuals, Silicon Valley entrepreneurs and executives. Before joining First Republic, she was a vice president and investment officer at Wells Fargo Advisors. Huang received a Bachelor of Arts degree in economics from the University of Texas at Austin. She is a CFP professional.

HSA Bank Acquires HSAs from Inland Bank and Trust

HSA Bank, a division of Webster Bank, N.A., and Webster Financial Corporation, the holding company for Webster Bank, N.A., has announced that it has acquired the health savings accounts of Inland Bank and Trust.

Under the agreement, approximately 4,800 accounts, including an estimated $15.5 million in deposits, have transitioned from Inland Bank and Trust to HSA Bank. The transaction was subject to regulatory approval and customary closing conditions.

Current Inland Bank and Trust HSA accountholders do not need to take any action. Accountholders have received communications in advance of the transition.

Aon Hires Chief Medical Officer

Aon has announced that Dr. Charles E. Smith joined as the firm’s new chief medical officer for its U.S. health solutions practice.

Smith brings experience in health care strategy and analytics while working directly with the largest and most progressive employers nationally. He will be charged with understanding the health care needs of clients, identifying new trends and opportunities and building targeted strategies and solutions to meet their market needs.

Most recently he served as the CMO of national accounts focused on health care strategies, analytics and solutions for large employers at Cigna Healthcare, where he spent more than 20 years. While at CIGNA, he worked with clients to develop comprehensive health and wellness strategies, emphasizing prevention and employee engagement. He further expanded on his consulting experience while working with employers on behalf of Towers Perrin, where he assisted clients with customized care management strategies, data management strategies and health plan measurement and monitoring.

NWPS Hires President of Operations

NWPS has announced the appointment of Lisa Tassara as vice president of operations. Tassara comes to NWPS with more than 30 years of experience, having previously worked for Fidelity and Putnam. She was most recently managing director, retirement business services for Charles Schwab, setting the strategic direction for their client service teams.

Tassara earned her bachelor’s degree from Lesley University and has an MBA from the University of Phoenix. She is based in Phoenix, Arizona.

Alliant Retirement Hires Oklahoma City Vice President

Alliant Retirement Services, a division of Alliant Insurance Services, has hired Brad Knowles as vice president. Based in Oklahoma City, Knowles has more than 20 years of experience in the retirement plan industry. He will focus on creating holistic processes for fiduciary compliance, investment due diligence, provider benchmarking/RFP, plan design, financial wellness and qualified default investment account consulting.

Through his experience as a 401(k) and 403(b) consultant and plan design analyst, Knowles helps organizations make better decisions, save time and money and reach strategic goals. His approach allows employers to create an environment of support and well-being for employees, helping them understand their retirement plan gaps and how to close them.

Prior to joining Alliant, Knowles worked as managing director of an independent investment advisory firm. He earned his bachelor’s degree from the University of Oklahoma and his MBA from the University of Oklahoma’s Price College of Business.

NewEdge Advisers Appoints Chief Experience Officer

NewEdge Advisors, LLC, a New Orleans-based registered investment adviser, has announced that former LPL Financial executive vice president Steve Pirigyi has joined the firm as president and Jeff Cutler has been appointed to the newly created chief experience officer and managing partner role.

Pirigyi has more than three decades of experience in the financial services industry, including a 24-year career at LPL Financial. While there, he served as executive vice president of business development and was a member of the team that helped the firm grow its adviser headcount from 1,500 to more than 16,000.

After leaving LPL in 2018, Pirigyi founded The Higher Line LLC, a business coaching firm that served many of the industry’s top performers. He is also a co-founder of Ignition Point Partners LLC, a consulting firm that provides benchmarking and knowledge of the ever-changing competitive landscape to multiple broker-dealers.

Cutler, who joined NewEdge Advisors in 2018, has played an integral role in shaping the firm by leading the evolution of the adviser experience. The firm launched several initiatives focused on elevating the adviser experience under his leadership. As chief experience officer, Cutler will focus on adviser advocacy, technology and marketing. 

Choreo to Acquire Cherry Bekaert Wealth Management

Choreo, LLC has announced it has entered into an agreement to acquire Cherry Bekaert Wealth Management LLC, an entity affiliated with Cherry Bekaert Advisory LLC. In addition to the acquisition, Choreo and Cherry Bekaert Advisory LLC will enter into a strategic relationship that will enable both firms to combine resources and align go-to-market and acquisition opportunities to further accelerate the growth of their respective businesses.

With approximately $1 billion in assets under management and advisement, CBWM represents an expansion of Choreo’s footprint in the Southeast and increases the firm’s total assets under management and advisement to approximately $14.5 billion. The transaction is expected to close at the end of the year, pending satisfaction of customary conditions. Terms of the transaction were not disclosed.

This announcement represents the second acquisition by Choreo since Parthenon Capital, together with Choreo management and advisers, purchased the company from one of the largest CPA and professional services firms in the country in February.

Global Atlantic Hires Independent Distribution Leader

Global Atlantic Financial Group, a retirement and life insurance company, has announced that Jamie Kosharek has joined the company as head of independent channel distribution. In this role, Kosharek will lead all of independent annuity and life distribution through IMO, FMO and BGA partners, where Global Atlantic is focused on forging greater and deeper relationships. She will report to Dave Schalleur, head of partnerships.

As Head of Independent Channel Distribution, Kosharek will be responsible for the strategy and team facilitating all independent distribution relationships, as well as internal and external sales coverage across the country. In this capacity, her experience and knowledge of the space will help drive Global Atlantic’s growth strategy to become a top five carrier serving independent distributors and their clients.

Ms. Kosharek comes to Global Atlantic from Raymond James, where she has served a variety of leadership roles since 2000, culminating as president of the firm-affiliated Producers Choice Network and head of insurance solutions distribution. Previously as a senior vice president within the firm’s Financial Institutions Division, her responsibilities included recruiting, practice management, adviser growth, supervision, legal and regulatory matters, operations and conversions.

Kosharek is a leader across the financial services industry, serving on the National Association for Fixed Annuities government and legal affairs committee, Bank Insurance Securities Association Diversity Equity and Inclusion committee, and Insurance Designers of America Women’s Leadership board of directors.

She holds Series 7, 24, 53, 66, life and health licenses, graduated from SIFMA Securities Industry Institute, and is a Registered Corporate Coach.

Stonebridge Financial Group Hires Corporate Retirement Plan Specialist

Stonebridge Financial Group, LLC announced that Jim Foote has joined the firm as a senior corporate retirement plan specialist.

Foote has spent more than three decades in the financial industry, building a vast network of contacts. His impressive knowledge and understanding of corporate retirement plans allow him to solve problems proactively for clients.

His addition will continue the recent expansion of Stonebridge’s services to the eastern part of Pennsylvania. Last year, the firm opened an office in Lancaster in addition to its Wormleysburg location. Foote will move Stonebridge’s presence further east, as he works with clients in the greater Philadelphia area and beyond, including Montgomery, Delaware, Bucks and Chester counties and southern New Jersey.

Foote most recently worked as vice president of sales and marketing at RetireWell Administrators, Inc. Prior to that, he spent more than 25 years at OneAmerica, where he rose to regional sales director of retirement service.

A graduate of the University of Dayton, Foote began his career as a retirement sales consultant at the Copeland Companies. In his spare time, Foote serves as a travel softball coach and supports a number of nonprofits, including several supporting cancer research.

Foote becomes the seventh new hire at Stonebridge in the past two years as the firm continues to grow. Stonebridge currently has more than $1 billion assets under management.

Sun Life Names New Chief Risk Officer

Sun Life has announced the appointment of Tom Murphy as executive vice president and chief risk officer, effective December 1. Murphy is currently president of fixed income and head of institutional business for SLC Management, Sun Life’s alternatives asset manager.

In his new role, Murphy will lead all aspects of risk management across Sun Life globally, including financial, insurance, credit, operational and enterprise risk. He will also have oversight responsibility for our global actuarial and asset liability management functions.

Murphy brings more than 25 years of global asset management experience to Sun Life. He joined SLC Management in 2018 as head of affiliate development and business strategy. Prior to that, he was a senior partner with Mercer for 20 years where he built and led the company’s investment management businesses in Europe and also led Mercer’s North American investments and actuarial businesses.

A native of Dublin, Ireland, Murphy holds a bachelor’s degree in economics and statistics from University College Dublin and has an MBA from UCD Michael Smurfit Graduate School of Business in Dublin. He is a Fellow of the Society of Actuaries in Ireland. Murphy is also a member of the Massachusetts Board and Chair of the Development Committee for Bottom Line, a non-profit organization dedicated to supporting low income and first-generation students enroll into and get through college. Murphy will work from Sun Life’s offices in Wellesley, Massachusetts and Toronto, Canada.

Murphy succeeds Colm Freyne, Executive Vice-President and Chief Risk Officer, who will retire from Sun Life on May 1, 2023, after serving 20 years with the company. Freyne will transition to the role of special adviser to the CEO on December 1. He will also support Murphy in his onboarding to the chief risk officer role and provide strategic advisory support to the executive team until his retirement.

Strategic Investment Group Hires Non-U.S. Equity Head

Strategic Investment Group announced that Jackie Gifford has joined the firm as a managing director and head of non-U.S. equity, to co-head the public equities team with Ted Joseph, managing director and head of U.S. equity. Gifford joins a team of nine senior investment professionals that have an average of 28 years of industry experience and 16 years of collaboration at Strategic.

Gifford earned an MBA from Loyola University Graduate School and a B.A. in economics with a minor in finance from Pennsylvania State University. She joined Strategic from the Annie E. Casey Foundation, where she spent more than 10 years as director of marketable investments and director of hedge fund investments. She also served for more than a decade in leadership roles within the board of directors for the Baltimore Child Abuse Center, including vice president, treasurer and secretary.

Backstop Solutions Group Hires Chief Revenue Officer

Backstop Solutions Group, a leading cloud-based productivity suite for the institutional investment community, has announced the appointment of Tom Griffiths as the firm’s first chief revenue officer. In this role, Griffiths will be responsible for leading the firm’s global client-facing teams as they initiate their next phase of growth.

Griffiths previously served as global head of sales at Elliptic, a cryptoasset risk and compliance solutions firm. Prior to Elliptic, he spent 21 years at FactSet, a provider of integrated financial information and analytical applications. Over his tenure, he held several senior leadership positions, most recently as senior vice president of the Asia Pacific business, based in Hong Kong. In addition, he led the company’s Strategic Client Group and other regional business lines.

Golden State Wealth Management Welcomes Crossroads President and Wealth Adviser

Golden State Wealth Management announced today the addition of Kreat Lewis, who operates under the DBA, Crossroads Wealth Advisors, and is the eighth adviser coming from Edward Jones. Lewis serves as president and wealth adviser of Crossroads, which is located in Grand Junction, Colorado.

Lewis previously served as a financial adviser with Edward Jones for more than 20 years. He focuses on understanding the level of investment risk his clients are comfortable accepting and balancing it with the steps necessary to potentially reach their long-term goals. He is an Accredited Asset Management Specialist, which is a designation program for financial professionals that provides strong fundamental financial knowledge with a specific focus on asset management and investments.

LCG Names Senior Vice President in Atlanta

LCG Associates, Inc., a national, independent investment consulting firm, promoted Adam Laubacker to senior vice president. He is based out of the Atlanta office. His responsibilities include investment strategy development, manager due diligence, special research projects, and providing investment advice to clients.

Laubacker joined LCG in 2000 as an investment analyst. Laubacker is a Chartered Alternative Investment Analyst Charterholder. His client relationships include corporations, endowments, foundations, and healthcare organizations.

Adam graduated from the University of Notre Dame with a B.B.A. in Finance.

Steward Partners Global Advisory Welcomes Kuperman Wealth Management

Steward Partners Global Advisory, LLC, an employee-owned, full-service, independent partnership, has announced that Roger Kuperman and Kuperman Wealth Management at Steward Partners have joined the firm as its latest adviser partner. Based in Columbia, South Carolina, with approximately $100 million AUM, the firm currently serves multigenerational clients in 26 states.

Roger Kuperman has almost 40 years of wide-ranging industry experience, having begun his career in 1984 at the Chicago Board Options Exchange and Chicago Board of Trade, where he was one of the youngest traders on the floor. He earned an MBA from Lake Forest Graduate School of Management in 1995 and was recruited as a financial investment adviser to help Motorola employees manage their financial assets, which he did for approximately two years before joining UBS/Paine Webber in Chicago. In 2004, he and his family moved to South Carolina, where he was a financial adviser with Wachovia, a Wells Fargo predecessor firm, before joining Morgan Stanley’s Columbia office in 2015.

Kuperman, his wife Faye and his family are very active in their local community and have led efforts to establish Fragile X Awareness Day in South Carolina to spread awareness of the genetic disorder affecting their daughters, Lauren and Nicole. Roger spent time lobbying in Washington D.C. to further support research for Fragile X and was appointed chairman of the South Carolina Development Disabilities Council.

Cetera Bolsters Business Development Team with Three New Hires

Cetera Financial Group, a network of financial professionals, announced it has expanded its business development team with three new team members. Cetera’s business development team has grown exponentially throughout 2022, delivering record results as the firm eyes even greater growth headed into 2023.

The three new hires are:

• Jeremy Wilmes joins the team as a senior recruiter who will cover Florida from his home in Tampa Bay. Prior to joining Cetera, he was a director at Truist Life Insurance Holdings, where he covered Florida, Georgia, Alabama and Texas. Williams worked in multiple roles at Allstate Life & Retirement over the course of six years, where he led life and retirement sales among 700 agencies and 2,000 licensed producers across five states. He is a CFP certification candidate and holds multiple securities registrations and financial designations and certifications.
• Tim Petrovich joins the team as a senior recruiter covering California. Prior to joining Cetera, he was a regional director of business development at Atria Wealth Solutions, where he developed and oversaw a new territory and drove sales and growth for the firm. He also worked in business development roles at Securities America and LPL for more than 10 years.
• James Fox joins the team as a sourcing and engagement specialist from JP Morgan Chase, where he served in recruiting, onboarding, compliance and human resources roles of increasing responsibility for more than 10 years. Throughout his career, he has developed a track record of success in recruiting, sourcing, management, HR operations, reporting, business analysis, quality assurance, sales, relationship management, retail banking and customer service.

M Financial Selects Proteus as an Alternative Investment Partner

Proteus, LLC announced that M Financial Group approved Proteus, LLC as an alternative investment platform. M Financial will leverage Proteus’ leading technology platform and related infrastructure to seamlessly offer alternative investments throughout their member firms in both wealth management accounts and in insurance-based separate accounts.

M Financial Group will make available to their member firms private alternative investment products that have been sourced and due diligenced by Proteus and Callan, Proteus’ research partner. Further, member firms will have available to them managed pools, or asset class-centric strategies, and models, or risk-based alternative asset portfolios, that are designed and managed by Proteus.