Retirement Industry People Moves

Doug Field has been named chief growth officer of Veriphy Analytics, a firm aiming to bring transparency and value measurement to retirement plan committees. He brings to his new role more than 35 years of experience growing businesses and committees serving the employee benefits and retirement planning market.

“We have known Doug for years and have seen first-hand the innovative work he has done in the market” says Al Otto, Veriphy Analytics CEO/Co-Founder. “He is an energetic and transformative thought leader who will no doubt make a huge and immediate impact on the plan sponsor and investment adviser community as we change the game for retirement plan committees.

Veriphy is a web-based, business-intelligence platform. Its Veriphy database along with its search, analysis, reporting tools and graphical outputs measure the skill of an investment professional or plan committee based on the investment decisions made over time.

NEXT: Newfleet Brings on Head of Institutional Business Development

Newfleet Brings on Head of Institutional Business Development

William A. Irvine has joined Newfleet Asset Management as senior managing director and head of institutional business development.

Irvine has more than 25 years of financial-services industry experience concentrated on institutional fixed income strategies, as well as consultant and client relationship management. In his new role, he will offer Newfleet’s suite of fixed income portfolios. He will focus on multi-sector mandates to institutional clients including foundations, endowments, public funds, and multiemployer plans.

“We are delighted to have Bill join our team and believe his experience in institutional fixed income business development, coupled with his exceptional client relationship skills, will not only better support our existing institutional clients, but allow Newfleet to expand its footprint in these markets” says David L. Albrycht, Newfleet’s president and chief investment officer. “We are committed to delivering a comprehensive array of fixed income portfolios, and, together with our clients and partners, we want to build portfolios that provide investors with solutions for their investment needs in any market environment. The addition of Bill to the team is essential to strengthening that commitment.”

Before coming on to NewFleet, Irvine served as managing director leading institutional business development for RBC Global Asset Management, where he worked closely with corporate, and government, endowment and foundation clients including state government pension funds. He’s also held similar roles at Dimensional Fund Advisors, Eaton Vance Investment Management, and State Street Research and Management. He started his investment career in institutional fixed income sales at Lehman Brothers focusing on U.S. high-grade corporate debt.

Irvine is a graduate of Trinity College with a bachelor’s degree in economics. He holds FINRA Series 7, 63, and 65 licenses.

NEXT: Lincoln Financial Group Hires Retirement Plan Services Leader

Lincoln Financial Group Hires Retirement Plan Services Leader

Molly Garrett has joined Lincoln Financial Group as senior vice president and head of operations for its Retirement Plan Services (RPS) business.

Garrett is now responsible for overall strategy development and execution for the operations function, which includes front-line customer service and plan administration. She brings to her new role more than 30 years of experience in the retirement-services industry, where she’s held leadership positions at Voya, Prudential Financial and Cigna.

“The RPS business is focused on delivering a best-in-class customer experience through a combination of high-tech and high-touch service for all of our clients,” says Jamie Ohl, president of RPS. “Molly is a proven leader who will ensure that every interaction we have with a client from implementation to ongoing maintenance is seamless and easy for our customers. She is a strong addition to the RPS senior leadership team and to Lincoln Financial.”

Garrett earned a bachelor’s degree from the State University of New York at Plattsburgh and holds Series 7, 24 and 63 FINRA licenses.

NEXT: Teachers Tax Service Joins PlanMember

Teachers Tax Service based in Rancho Mirage, California, has affiliated with PlanMember Securities Corporation as PlanMember Financial Center. The move allows the organization to expand retirement-investment planning and financial education opportunities for educators and employees of non-profits in the Coachella Valley area.

PlanMember is a nationally recognized broker/dealer, investment adviser, and member of FINRA/SIPC, providing retirement planning to the public education and non-profit sectors. The organization offers personalized retirement planning services and various investment and annuity solutions. The company is headquartered in Carpinteria, California. PlanMember specializes in the fee-based 403(b), 457(b), and 401(k) marketplace.

By co-branding with PlanMember as a Financial Center, independent advisers such as Robert Torrie and John Urrutia of Teachers Tax Services have access to resources and preferred market access of a national company while maintaining their own local identity. PlanMember has established 31 Financial Centers in 19 states, with a goal of expanding to 80 nationally. Last, July PlanMember partnered with United Financial NW.

“I’ve always enjoyed helping others, and I cherish the opportunity to help educators,” says Urrutia. “I look forward to employing PlanMember’s impressive array of products and services to help my clients invest for a meaningful and enjoyable retirement.”

Torrie founded Teachers Tax Service in 1990 with his wife Judy, both former professional educators. “Though I no longer teach students I still consider myself an educator,” says Torrie. “Now I focus on helping educators with all aspects of their financial and tax needs. PlanMember is an indispensable partner in that mission.”

NEXT: Trust Builders Rebrands to Retire Ready Solutions 

Trust Builders Rebrands to Retire Ready Solutions

Trust Builders, a company that has been producing professional retirement planning software for more than 30 years, has changed its name to Retire Ready Solutions. The firm’s leadership made the move to better reflect the company’s role in providing advisers with retirement education tools.

“The new name, Retire Ready Solutions, clarifies who we are and what we do,” says Edward Dressel, president of the Dallas, Oregon-based firm. “Our corporate focus has always been about helping advisers to provide engaging retirement education to their clients. We’ve always been about helping individuals connect to the retirement planning process.”

The firm will continue to enhance The Retirement Analysis Kit (TRAK). This retirement modeling, analysis and illustration software has been designed especially for use by professional financial advisers working with individuals and those who support plan sponsors.

“Our proven tools engage people in retirement planning and show them how they, personally, can increase their current contributions to be on track for retirement. This can motivate them and, perhaps, even put their minds at ease for retirement,” says Dressel. “The reports we create help people see exactly how the higher contributions affect their take-home pay and offer a clear path for success. The reports show them how increasing their income tax deferrals now will help them be more ready for retirement in the future.”

NEXT: Kestra Financial to Acquire HBI

Kestra Financial to Acquire HBI

Independent adviser platform Kestra Financialhas agreed to acquireH. Beck (HBI), a national independent financial adviser platform from Securian Financial Group.

HBI will remain an autonomously operated RIA and broker-dealer servicing the independent adviser community. HBI will not be absorbed into Kestra Financial, and the firm will be managed by its own dedicated executive team.

“We look forward to partnering with the HBI leadership team to create the next chapter of success for the quality advisers they serve,” says James Poer, CEO of Kestra Financial. “Their commitment to culture combined with our technology and service expertise will empower the organization to enhance its service and value proposition. This acquisition represents our continued commitment to intentional growth through both organic initiatives and acquisitions. We have a history of making thoughtful acquisitions that align with our values and business strategies, and we believe that the H. Beck adviser force and the clients they serve will benefit from the transaction.”

HBI’s home office and adviser services will remain intact and the company will retain its own brand, operational autonomy, and its headquarters in Maryland. Investments will be made to further optimize the technology solutions and operations of HBI.

“The Kestra Financial management team has a proven track record of fostering an environment where advisers are equipped to grow their practices,” says George Connolly, senior vice president in charge of Wealth Management at Securian Financial Group. “We’ve entrusted this business to Kestra Financial with the intention to increase our focus on our other businesses, including Securian Financial Services, and the expectation that Kestra Financial will be a good steward for the 600-plus advisers affiliated with HBI.”

The acquisition is expected to close before the end of the year.

NEXT: Retirement Advantage to Acquire Retirement Planning Inc.

Employee benefits consulting and technology provider The Retirement Advantage has announced the acquisition of Retirement Planning Inc., an independently owned third-party administration and consulting firm headquartered in Grand Rapids, Michigan.

The collaboration will allow TRA to continue supporting its financial adviser and recordkeeping clients with new, customized retirement plan solutions.

"RPI has a strong reputation as a premier third-party administration firm for privately held businesses in the Great Lakes region," says Matt Schoneman, TRA's President. "The acquisition furthers our corporate growth strategy and we are excited to welcome RPIs' clients and consultants to TRA. Our goal is to ensure a seamless experience for clients during the integration of our two firms."

RPI President Mark Whited adds, "We are thrilled to be a part of TRA. They are one of the fastest growing, independently owned, consulting and technology firms in the nation. Both organizations share similar cultures and values focused on delivering a high level of personalized customer service to clients. We believe we will be able to better serve our clients and partners with the pro-active approach they deserve."

NEXT: AndCo Consulting Names Senior Consultant in Michigan Office

AndCo Consulting Names Senior Consultant in Michigan Office

Mike Holycross has joined AndCo Consulting, an independent institutional-investment consulting firm, as a senior consultant in the company’s Southfield, Michigan office. 

Holycross will work with AndCo’s Michigan team to expand the company’s growing presence in the region, while servicing institutional plans including public, Taft-Hartley, foundations and corporate plans. 

Holycross joins AndCo with more than 20 years of investment consulting and leadership experience. Most recently, he was an executive director and institutional consulting director at Graystone Consulting in Birmingham, Michigan.

"As a firm, we are committed to Michigan and the surrounding markets, and adding someone with Mike’s client service reputation to our local team will help us continue to offer a high level of quality service to our existing clients and prospects in the Midwest,” says Mike Welker, president and CEO of AndCo, formerly Bogdahn Group. “Over the years, Mike has also worked with some of our Michigan-based team members, so bringing him onboard was a good fit for both parties. We are thrilled to have him on our team.”

Holycross received his bachelor’s degree in accounting from Central Michigan University and his master’s degree in finance from Walsh College. He also holds his Certified Investment Management Analyst (CIMA) designation. 

NEXT: Portfolio Evaluations Expands Leadership Team

Jennifer Putney has joined Portfolio Evaluations (PEI) as director of Retirement Plans Consulting. She will be responsible for overseeing the firm’s research, while facilitating benchmarking studies and recordkeeping vendor searches on behalf of clients.

Putney has more than 20 years of experience in the retirement plans industry. She has practical knowledge surrounding Employee Retirement Income Security Act (ERISA), legislative and regulatory issues, as well as defined contribution plan design for 401(k), 403(b) and 457 plans. Prior to joining the firm, she served as vice president of the Total Retirement Solutions Marketing Group at Prudential Financial. Putney joined Prudential from Transamerica Retirement Solutions, where she ran Participant Communications and Strategy. Prior to her role there, she worked in the Retirement Services Division at Pentegra.

“We are excited about the addition of Jennifer to the team,” says Partner Michael Sasso. “Jennifer brings a wealth of knowledge and experience, which will only enhance our already deep pool of talent to better serve our clients and their retirement programs.”