Nearly six
in 10 Americans, 59%, expect the markets to become more volatile following the
results of the presidential election, Edward Jones found in a survey of 1,000
people between October 13 and 16.
Among those
saving for retirement, 46% think the election results will have an impact on
their long-term retirement savings and investment portfolio, and 33% think the
impact will be negative.
“Investors can’t afford to let short-term volatility veer their
retirement plans off course. Although the outcome of a presidential election
certainly influences the overall direction of policy decisions, the mix of
investments you own makes more difference to your long-term ‘victory’ or ‘defeat’
as an investor than any election results,” says Kate Warne, principal and
investment strategist for Edward Jones. “With this in mind, consult with
your financial adviser before making any changes to your portfolio to ensure
that you aren’t overreacting as you prepare for retirement.”
John Hancock Retirement Services Names Taft-Hartley Plan Consultant; T. Rowe Price Expands Mega Market Sales Team; Broadridge Financial Expands Mutual Fund and ETF Division; and more.
The
American Society of Pension Professionals & Actuaries welcomes
Richard A. Hochman as its new president.
Hochman is the director of Retirement Plan Consulting
Services at Actuarial Systems Corporation (ASC), where he leads a team of experts
providing best-practice solutions for a range of administrative issues faced by
industry practitioners. He regularly participates as an instructor in continuing
education programs, at in-house programs, and at a variety of pension industry
forums such as ASPPA and the National Institute of Pension Administrators
(NIPA). He
was the recipient of ASPPA’s Educator of the Year Award in 2012. As
a longtime ASPPA volunteer, he has worked with both the
Government Affairs and the Conferences Committees, and has also chaired the
Annual Conference and General Conferences Committees.
Hochman assumes the role with the introduction of new
officers: President-Elect, Adam C. Pozek, and Vice President James
R. Nolan. Joining the ASPPA Leadership Council are Justin Bonestroo, Robert M. Kaplan and Frank Porter,
QKA, QPA.
ASPPA is
part of the American Retirement Association, a non-profit
professional organization established to educate all types of retirement plan
professionals, and to preserve and enhance the employer-based retirement plan
system as part of the development of a cohesive and coherent national
retirement income policy.
NEXT: John Hancock Retirement Services Names Taft-Hartley Plan
Consultant
John
Hancock Retirement Services Names Taft-Hartley Plan Consultant
John
Hancock Retirement Plan Services has named Joseph Gallagher,director,Taft-Hartley, Employment Retirement Income Security Act
(ERISA) consultant. He is tasked with helping Taft-Harley plan sponsors
remain compliant with ERISA and the Internal Revenue Code (IRC), while also ensuring
these plan sponsors are meeting their participants’ needs.
Gallagher joined John Hancock in 2003 and served
numerous roles including leading the ERISA Complaince & Government
Reporting. Previously, he oversaw a group providing daily plan administration
to corporate 401(k) and Taft-Hartley plans. He also managed a legal team within
John Hancock's ERISA Services division.
"Servicing the unique needs of Taft-Hartley
clients and participants is a priority for John Hancock and we're excited to
have Joe take on this important role on our team," says Patrick Murphy, president, John Hancock Retirement Plan Services. "His
experience makes him uniquely qualified to help us serve our Taft-Hartley
clients."
Gallagher earned a bachelor’s degree in business
management from Springfield College, and holds a FINRA Series 6 license.
NEXT:
T. Rowe Price Expands
Mega Market Sales Team
T. Rowe Price Expands
Mega Market Sales Team
T. Rowe Price Retirement Plan Services has hired Christine
Carolan to join the Retirement Plan Services Sales team as vice president and senior retirement sales
executive. In this new role, Carolan will focus on mega market prospects
and work directly with plan sponsors as well as with consultants and advisers
in the Western region of the United States.
David Kasparian, vice president
and senior retirement sales executive, will be transitioning into a mega market
sales role for the Eastern region of the U.S.
“Both Christine and
David have deep expertise in the defined contribution (DC) market and proven
skills that will be instrumental for the continued growth our record keeping
business,” says Kevin Collins, head of sales
at T. Rowe Price Retirement Plan Services.“We look forward to not only the impact they will have on
growing our mega market client base, but the continued expansion of our sales
efforts across the country.”
Carolan has more than
20 years of experience in the DC industry, including prior sales experience at
T. Rowe Price from 1996 to 2010. Before joining T. Rowe, she served as investment sales director at Mercer, elling and marketing investment
consulting services throughout the Western U.S.
Kasparian has been with T. Rowe Price for
almost two years. He has more than 18 years of retirement sales experience with
several leading recordkeeping firms. Prior to joining T. Rowe Price, he was a
vice president of Retirement Plan Sales at Schwab Institutional for more than
twelve years, and he held various positions during his six years at Fidelity
Investments.
NEXT: Broadridge Financial Solutions Expands Mutual Fund and
ETF Division
Broadridge
Financial Solutions Expands Mutual Fund and ETF Division
Broadridge
Financial Solutions has enhanced Matrix Financial Solutions,
its mutual fund and exchange-traded fund (ETF) processing division, with the
addition of the team’s new Chief
Solutions Officer John Moody.
Also new to the division is General Manager Cindy Dash who has spent the last year in the role
guiding and executing business strategies as well as day-to-day operations.
Moody, a founding partner of Matrix, will oversee
sales and product development, while working closely with clients to develop
new data-driven solutions for the changing trade processing and investing
landscape.
"Cindy and John's leadership has been critical to
the growth and success of Matrix," says Michael Liberatore, president of Broadridge's Mutual Fund and Retirement
Solutions group. "Their expertise and guidance has made Matrix one of
the largest trade processing businesses in the marketplace. With Cindy now
responsible for overseeing all aspects of Matrix, and John focused on business
and product development, we are well-positioned to help our clients grow their
businesses."
He added, "Our mission is to help Americans save
more for retirement by providing innovative technology-driven platforms for
advisers that help them meet their fiduciary responsibilities and make the
right choices for their clients," says Dash. "The landscape continues
to get complicated with new rules like the fiduciary standard and increasing
fee scrutiny from plan participants and providers. We are committed to helping
advisers solve for these compliance mandates while meeting their business
goals."
Matrix serves more than 400 financial institutions
with more than $300 billion in customer assets processed through its mutual
fund and ETF trading platform.