Recordkeepers Ascensus, July Make Divisional Hires

Ascensus LLC and July Business Services made divisional head moves Tuesday for business lines including nonqualified retirement plans, recordkeeper business sales and third-party administrator partner services.

Ascensus, a provider of tax-advantaged solutions including qualified, nonqualified, TPA and 529 and ABLE programs, hired Michael Dunn as president of enterprise solutions.

In the role, which he starts September 4, Dunn will oversee unbundled and outsourced nonqualified retirement plan administration services and other solutions, including corporate- and bank-owned life insurance consulting and administration, as well as fiduciary and total rewards consulting services. Dunn will report to Nick Good, president of Ascensus, and be part of the company’s executive operating committee.

Michael Dunn

Dunn joins Ascensus from Massachusetts Mutual Life Insurance Co., where he was most recently head of institutional insurance after a nearly 20-year career in various leadership positions. He brings experience in the institutional insurance markets, including the corporate- and bank-owned life insurance segments, which Ascensus notes are key to its “strategic offerings” in the enterprise solutions business.

Dunn succeeds Kurt Laning, who joined Ascensus in 2022 through a merger with Newport and retired earlier this year.

Ascensus has more than $760 billion in assets under administration across its client accounts as of the end of 2023.

July Hires National Sales Head, Promotes VP to TPA Partner Services

July Business Services, a 401(k) plan services provider for small to mid-sized employers, hired Bill Riccio as vice president of sales, taking over Adam Barker’s role leading its national sales team.

Barker, meanwhile, is being promoted to vice president of third-party administrator partner services, according to the firm.

Riccio joins from CUNA Mutual Group, where he was director of national sales and gained experience in TPA business development and retirement plan consulting. Riccio will work on fostering adviser relationships and accelerating company growth.

Barker has been with July for 18 years, including roles in which he built up outsourced staffing solutions for TPAs, developed key TPA and institutional relationships and expanded the national sales team.

As vice president of TPA partner services, his team will help partners “reduce operating costs, enhance quality, and streamline delivery times,” according to the announcement.

“We are delighted to have Bill Riccio join JULY as our VP of Sales during a time in which JULY has experienced substantial growth,” said Blake Willis, July’s chief operating officer, in a statement. “Bill’s exceptional reputation and experience will provide strength to the execution of our sales strategies to further support advisors in growing their qualified plan business.”

July services more than 8,500 401(k), cash balance, defined benefit and other retirement plans. It also provides white label and co-branded support for other organizations.