Retirement Industry People Moves – 11/15/24

Creative Planning Acquires $550M RIA Edmonds Duncan

Creative Planning LLC has acquired the Lawrence, Kansas-based Edmonds Duncan Registered Investment Advisors LLC, bringing over its six employees in a deal that closed October 1.

The deal will bring over about $550 million in assets under management to one of the country’s largest wealth and retirement advisories. Edmonds Duncan Advisors was founded in 2013 by partners Jason Edmonds and Don Duncan; prior to founding the firm, the pair had been working for 15 years at wirehouses.

The firm provides about 600 clients with services, including investment management, retirement income planning and estate settlement.

“This merger is the culmination of our efforts to bring a comprehensive suite of services to our clients under one roof,” Edmonds, the advisory’s lead partner, said in a statement. “Ultimately, my partner Don and I concluded that we could most efficiently accomplish that objective for our clients by joining our friend Peter [Mallouk] and his team at Creative Planning.”

This is Overland Park, Kansas-based Creative Planning’s ninth acquisition since the start of 2023; the firm and its affiliates currently oversee $325 billion in AUM and assets under administration.

Minter-Jordan to Replace Jenkins as AARP CEO

The AARP has named Myechia Minter-Jordan as its next CEO, replacing Jo Ann Jenkins, who announced her resignation earlier in November after 10 years in the role.

Minter-Jordan takes the role after having served as president and CEO of CareQuest Institute for Oral Health and CEO and chief medical officer of the Dimock Center in Massachusetts, one of the largest community health centers.

“This is a pivotal moment for AARP and the nation. For more than 65 years, AARP has been instrumental in improving the lives of older Americans, helping people age on their own terms and live their lives to the fullest,” Minter-Jordan said in a statement. “As AARP looks ahead, we have exciting opportunities to empower, uplift and make a positive impact on the health, wealth and wellness of the more than 110 million Americans ages 50 and older and the entire country.”

The AARP has offices in every state and is focused on health security, financial stability and personal fulfillment for what it counts as 110 million Americans who are at least 50 years older. The nonprofit is also focused on bolstering Social Security, Medicare, family caregiving, lower prescription drug costs and social isolation for the aging.

Nationwide Promotes From Within for Lead Brokerage Annuity Distribution

Nationwide Annuity promoted Brad Carrier to lead its brokerage annuity distribution channel from a role he has held for 14 years as the divisional vice president for the Northeast region.

Carrier will oversee the distribution of annuities through all broker/dealers, including banks, wirehouses and independents.

Carrier started at Nationwide in 1999 and has held roles as manager of the internal sales desk and external wholesaler. He is replacing Rich Porter in the lead distribution role; Porter was promoted to lead Nationwide’s retirement solutions distribution team earlier this year.

American Benefits Council Names Johnson President

The American Benefits Council named Katy Johnson president, effective January 1, 2025, succeeding James Klein, who has held the position for 33 years.

Johnson will take the position from her current role as senior counsel for health policy. The transition takes place after Klein had told the council’s board of directors this year that he wanted to pass the torch; he will become a senior adviser and will also become managing director of the council’s research and education affiliate, the American Benefits Institute.

Johnson joined the council in 2019, focusing on federal regulatory and judicial advocacy related to health policy. Prior to that role, she held positions in the administrations of both former President Barack Obama and former President Donald Trump in the Office of Benefits Tax Counsel at the U.S. Department of the Treasury and in the Office of the Chief Counsel at the IRS.

Johnson will now lead the Council’s release of a five-year strategic plan in early 2025, including goals and policy recommendations for policymakers, according to the announcement.