Retirement Industry People Moves

Financial Independence Selects FSC as Broker-Dealer

FSC Securities Corporation, a broker-dealer representing more than 1,000 advisers across the country, announced that wealth advisory firm, Financial Independence, LLC, has selected FSC as its broker-dealer.

FSC Securities represents more than 1,000 advisers overseeing $38 billion in total client assets. The firm’s open architecture is designed to offer advisers solutions for business planning, streamlined workflow solutions, portfolio management, and a wide range of resources integrated into one dynamic platform.

“True to our name, we’re committed to helping clients large and small achieve financial independence,” says Financial Independence co-founder and senior partner Steve Case. “Joining FSC Securities will help propel that goal. Not only does FSC provide a tremendous level of adviser service and support, it also allows us to be flexible in terms of our business model. As we continue to build our business and streamline our processes, we are glad to have a partner that can support and anticipate our evolving needs.”

Financial Independence is based in the Detroit metropolitan area, and operates primarily in Southeast Michigan. The firm represents individual and corporate clients including 4,500 participants and 100 small-company 401(k) plans. It specializes in developing long-term financial strategies and retirement planning options for individuals, with a focus on continuing financial education.

“We’re thrilled to be joining the team at FSC Securities. Their support network for advisers is unparalleled,” says Financial Independence co-founder and senior partner Bill Kumm. “Steve and I have been working together for nearly 30 years, with a shared mission of helping people achieve financial independence by building, protecting, and transferring wealth. We’re looking to grow, and with FSC, we’ll be plugged into one of the most adept adviser networks in the country.”

FSC Securities Corporation President and CEO Jerry Murphy adds, “We’re excited to welcome Financial Independence, LLC into the FSC family. They put their clients first and are looking to take their business to the next level. We’ll always be in Bill and Steve’s corner, providing them with the support and tools they need to succeed.”

FSC Securities Corporation is a subsidiary of Advisor Group, a network of independent financial advisers, serving nearly 5,000 advisers and overseeing approximately $160 billion in client assets.

NEXT: Hueler & NISA Collaborate With Focus on Retirement Income 

Hueler & NISA Collaborate With Focus on Retirement Income

Hueler Income Solutions and NISA Investment Advisors have formed an alliance with a mission to help defined contribution (DC) participants focus on enhancing retirement income. NISA says its minority investment in Hueler will allow both firms to create and deliver effective retirement-income solutions in order to address the longevity risk of participants in the plans they serve.

Working with NISA will help us realize our vision for the next generation of technology and connectivity,” says Kelli Hueler, founder and CEO of Hueler Income Solutions. “This collaboration allows us to enhance Hueler’s suite of services and delivery model for the benefit of our existing client base and to capitalize on new business opportunities to enhance lifetime income into defined contribution offerings. Importantly, we remain an independent entity empowered to run our business consistent with our longstanding focus on innovation and industry collaboration.”

NISA is an asset manager focusing on custom investment solutions with more than $220 billion under management. Hueler is a market data and research firm with an institutional priced annuity purchase platform.

NEXT: Capital Fiduciary Advisors Team Joins Bronfman E.L. Rothschild 

Capital Fiduciary Advisors TeamJoins Bronfman E.L. Rothschild 

Rockville, Maryland-based independent advisory firm Bronfman E.L. Rothschild LP welcomes a team from Capital Fiduciary Advisors. The team will be led by Capital Fiduciary Advisors CEO John H. Wolff. He will become a principal and managing director of Bronfman E.L. Rothschild. Also joining the team is Capital Fiduciary Advisors Managing Director Ted Leasure.

“John, Ted, and their team are a perfect fit for us,” says Neal Simon, CEO of Bronfman E.L. Rothschild. “They are true wealth managers who use an investment approach similar to ours. Like us, they have a reputation for putting clients’ interests first, and I believe their clients will benefit from our scale and resources.”

Wolff adds “Our firms operate with a similar philosophy towards our clients’ advice and service. Bronfman E.L. Rothschild has smart and talented people, excellent technology and a recognizable brand. By joining their firm, we can expand the services we offer to clients; the firm has deep resources to serve wealth management clients, institutions, and retirement plans. Most importantly, we can continue to take care of our clients in the fashion they have become accustomed to and deserve, and that means everything to us.” 

Bronfman E.L. Rothschild manages more than $4.5 billion in assets. In January, the firm announced the acquisition of TriCapital Advisors in Maryland. In March, it added Marilyn Napoli to its New York office.

NEXT: CIEBA Appoints Executive Director

CIEBA Appoints Executive Director

The Committee on Investment of Employee Benefit Assets (CIEBA) announced that Dennis Simmons has been appointed by the CIEBA Board as their new executive director. Simmons joins CIEBA with more than 20 years of experience in government policy, legal and plan administration. He’s worked with all types of employee benefit plan sponsor clients. He’s most recently worked at Vanguard, the Malvern, Pennsylvania-based mutual fund provider.

"The CIEBA Board is very excited to have Dennis join us at such an important time in CIEBA's history," says Andrew T. Ward, CIEBA's Chair. "CIEBA has a growing membership of plan fiduciaries who oversee over $2 trillion on behalf of 15 million hard-working retirement plan participants. CIEBA's voice will be critical as important fiduciary and tax changes are being considered by the new Administration. Dennis' advocacy experience will help CIEBA maintain a strong presence as new public policies directly impacting plan fiduciaries and their participants are contemplated."

Simmons will succeed Ray Kanner, the former CIO at IBM 

"We'd encourage anyone who works with benefit plan investments to consider joining up with CIEBA to take advantage of the world-class network of investment fiduciary plan sponsors," says Simmons. "We'd be glad to talk to anyone who is interested in discussing our mission and values for strengthening the private sector retirement system and enhancing retirement plan investment management effectiveness."

NEXT: United Financial NW Joins PlanMember Securities Corporation 

United Financial NW Joins PlanMember Securities Corporation

Jim Mustard and Nick Hankerson, partners of United FinancialNW in Portland, Oregon, have announced their affiliation with PlanMember Securities Corporation as a PlanMember Financial Center.

This collaboration will allow the firm to expand retirement investment planning and financial education opportunities for educators and employees of nonprofits in Portland and the surrounding metropolitan area.

United Financial NW has about 700 clients in and around Portland with $55 million in assets under management. In addition to specializing in the 403(b) and 457(b) education market, the firm intends to provide enhanced products and services to the 401(k) market and individual investors as part of PlanMember.

Hankerson says, “We see PlanMember as an opportunity for stability and consistency in leadership so we can grow our Financial Center. They provide a team we can work with to help us service our school districts and give our client base some consistency as well.”

PlanMember is a nationally recognized broker/dealer, investment adviser, and member of FINRA/SIPC. It has established 30 Financial Centers in 19 states, with a goal of expanding to 80 nationally. For more information about PlanMember’s retirement solutions, visit www.planmember.com.

NEXT: Financial Management Network Expands Retirement Business

Financial Management Network Expands Retirement Business

Aran Sahagun has joined Financial Management Network, a California-based retirement plan consulting and advisory firm. He will be tasked with 401(k) and pension plan management. Sahagun has 18 years of industry experience behind him. He will assist employers and employees in creating an effective plan in regard to efficiency and compliance. He’s held roles in money management, investment modeling and 401(k) administration. 

Sahagun graduated from the University of Redlands with a degree in business management. 

“Financial Management Network is expanding to support pre-retirees as they work to save and prepare for retirement, and Aran is an important component of that expansion,” says Financial Management Network Founder Curtis Farrell. “We look forward to seeing our plan sponsor clients and employees enjoy the benefits of his expertise.”

NEXT: Allianz Life Hires COO 

Allianz Life Hires COO

Allianz Life Insurance Company of North America has hired Tobias Fritsch as chief operating officer for the Allianz Investment Management (AIM) division. He will tasked with enabling all hedging, investment strategy, and portfolio management activities for AIM.

Fritsch will lead the functions responsible for middle and back office accounting and operations support, strategic IT systems, and overall program and financial management. He will report to Allianz Life Chief Investment Officer Todd Hedtke

“Tobias brings a strong understanding of global Allianz initiatives, which is hugely beneficial as our team collaborates with colleagues around the world to direct our company-wide investment strategy,” says Hedtke. “We are excited to utilize his vast leadership experience in both operations and investment management in order to make AIM a more efficient and effective organization.”

Fritsch joins Allianz Life from Allianz Global Investors (AGI) in Berlin, Germany, where he was an executive program manager responsible for leading a strategic initiative to redesign and transform the target operating model of AGI. He was also responsible for an acquisition and post-merger integration of Rogge, a global fixed income asset manager, into AGI. Fritsch joined Allianz in 2009. He holds multiple advanced degrees in the areas of business administration, eTechnical engineering, computer science, economics, political science and government.  

NEXT: Industry Vet Returns to SSGA to Lead DC Business 

Industry Vet Returns to SSGA to Lead DC Business

Dave Ireland will return to State Street Global Advisors to serve as the firm’s global head of defined contribution (DC).

He will be tasked with leading the firm’s $421 billion global defined contribution (DC) businessincluding all business development activities, product development, thought-leadership, marketing, and retirement-related public policy advocacy. Ireland will lead a global team of more than 40 employees located in Boston, London and San Francisco.

Ireland served with SSGA for more than 13 years which saw him fill various roles including US Consultant Relations, director of the North American Defined Contribution Sales and Strategy and senior investment strategist and portfolio manager for the Global Asset Allocation team. He was involved in designing and distributing SSGA's Target Retirement Funds. He most recently served as director of Defined Contribution Distribution at Wellington Management, where he played a strategic role in building out its DC business.

“The defined contribution market continues to expand, both in size and complexity,” says Barry F.X. Smith, head of the Americas Institutional Client Group. “Plan sponsors and the participants they serve face many challenges as they seek the shared goal of a financially secure retirement. This includes providing the right investment choices, educational tools and plan features that help participants reach their goals. It will also soon include providing choices that help them manage the income from their savings throughout retirement. Dave is a leader who has been helping clients meet these challenges for many years and we are pleased to have him re-join SSGA to help us make retirement work for everyone.”

NEXT: Pinnacle Acquires TPA 

Pinnacle Acquires TPA

Pinnacle Plan Design announced that it has acquired Kollman & Associates, a local third-party administration and actuarial consulting firm. The company brings employer-sponsored retirement plan expertise to the team and will continue to serve current clients. With the addition of Kollman, Pinnacle now has four enrolled actuaries and 23 professionals on staff to design and administer customized 401(k), profit sharing plans and defined benefit (DB) plans.

"As a Baby Boomer, I see people in my generation aging, experiencing health issues and moving on to a different life," says Barbara A. Kollman. "Although I do not foresee an interruption in the services I am able to provide, it is a concern to me as to what would happen to my clients' retirement plans in the event I was unable to continue providing on-going services, even if the disruption in service was for a short period of time. Therefore, I have decided to join a larger pension company that has an excellent reputation and together we will provide full administration and actuarial services to my clients."

Amanda Iverson, CEO at Pinnacle Plan Design adds: "Barb is a very well-respected member of the retirement plan industry and the Phoenix community. We are very excited to welcome her and her clients to the Pinnacle family as we continue to expand our footprint in the Valley."

NEXT: T. Rowe Price Expands DCIO Business 

T. Rowe Price Expands DCIO Business

Heidi (Walsh) Delauter and Victoria Fung are now senior defined contribution plan specialists with the North American Global Investment Services division of T. Rowe Price. Delauter will be based in Baltimore and support clients in the northeast; meanwhile, Fung will be based in San Francisco and support clients across the western U.S. 

Delauter rejoins T. Rowe Price from J.P. Morgan Asset Management, where she served most recently as executive director and client adviser in the firm’s defined contribution institutional group. Prior to her time at J. P. Morgan, she spent 15 years at T. Rowe Price, where her roles included vice president and director of consultant and adviser relations for the firm’s retirement plan services division. Delauter holds an undergraduate degree from Hood College and a master’s degree from the University of Maryland.

Fung comes to T. Rowe Price from BlackRock, where she was vice president and senior account manager of institutional sales within the firm’s defined contribution retirement group. Prior to her time at BlackRock, Fung worked with Fisher Investments where she was a client account coordinator and account executive. She holds an undergraduate degree from the University of California, Berkeley.

T. Rowe Price’s Global Investment Services division offers investment management services to institutional investors and financial intermediaries around the world.

“T. Rowe Price’s DCIO business is a significant priority for the firm,” says Michael Davis, head of defined contribution plan specialists for GIS. “Heidi and Victoria are great additions to our outstanding team of institutional defined contribution plan specialists, who channel the firm’s global defined contribution expertise to work with our clients in a strategic, solutions-oriented manner. We are excited to welcome them to T. Rowe Price, and in Heidi’s case, to welcome her back.”