For more stories like this, sign up for the PLANADVISERdash daily newsletter.
Deals & People April 7, 2017
Retirement Industry People Moves
Marsh & McLennan Agency Acquires Advisory Firm; Segal Names Public Sector Market Director; CAPTRUST Financial Advisors Grows Business; and more.
Reported by Javier Simon
Marsh & McLennan
Agency Acquires Advisory Firm
Marsh & McLennan Agency (MMA) has acquired RJF Financial Services, a retirement advisory firm based in Brooklyn Park, Minnesota.
All RJF Financial employees, including its president and founder Jim McQuillan, will join MMA and continue to work out of the firm’s existing office in suburban Minneapolis.
“I have known and worked with Jim McQuillan and his firm for more than two decades and couldn’t be happier to formalize our business relationship,” says Bill Jeatran, CEO of MMA’s upper Midwest region. “RJF Financial’s experienced and principled people are the right team to expand MMA’s retirement services capabilities into the upper Midwest.”
McQuillan added, “Our team is excited about the additional resources we can now bring to our clients, and eager to help build and grow the MMA retirement services practice in the Minneapolis area and throughout the upper Midwest.”
NEXT: Segal Names Public Sector Market Director
Segal Names Public Sector Market Director
The Segal Group has named Andrew D. Sherman its new national public sector market director, effective May 1, 2017. Sherman will succeed Cathie G. Eitelberg, who is retiring after more than two decades with Segal.
Sherman has decades of industry experience behind him including 30 years spent at Segal. He currently manages the firm’s public sector consulting for its Boston and Hartford offices. He has also been the firm’s multiemployer health practice leader and he has served on the Board of Directors for the past 10 years. He is the lead consultant to a number of large public sector employee benefit plans including city and state health plans. He earned his bachelor’s degree from Brandeis University in Waltham, Massachusetts and a master’s degree in public policy with a concentration in health care policy from Harvard University.
“Andrew has a deep understanding of public sector issues,” said CEO David Blumenstein. “He is dedicated to our clients and assuring benefit security for their plan participants. I am confident that Segal Consulting’s public sector practice will continue to thrive under his leadership.”
He would assume the position from Eitelberg who has been with the firm for 40 years. She joined Segal from the Government Finance Officers Association (GFOA), where she was the chief tax lobbyist and the founder and director of the GFOA’s Pension and Benefits Center.
NEXT: CAPTRUST Financial Advisors Grows Business
CAPTRUST Financial Advisors Grows Business
CAPTRUST Financial Advisors, an independent wealth management and retirement plan advisory firm, announced Windsor Financial Group has joined the CAPTRUST family. Based in Minneapolis, Minnessota, this firm provides investment and wealth planning for individuals and institutional clients.
"In CAPTRUST we have found a long-term partner that cares about our clients, and about looking after their interests in a fiduciary capacity, as much as we do," says Windsor Financial Group Founder, Tyron K. Estlick.
Windsor President David O. Koch adds, "A firm with our thirty-year history of doing right by clients owes it to them to find an excellent fit for them above all—not just a good fit for us. We know that CAPTRUST shares our values and passion for our profession, and we look forward to what the future holds," he said.
NEXT: Securian Expands Retirement Business
Securian Expands Retirement Business
Brody Geist has joined Securian Financial Group as a regional sales vice president with the company’s Retirement Plans division. He will focus on providing retirement plan solutions to small and mid-size employers throughout Utah, Colorado and Wyoming.
Prior to joining Securian, Geist served as a retirement services district sales manager with the Major Accounts division of ADP. He holds Series 6 and 63 registrations and earned a bachelor’s degree from St. Cloud State University in Minnesota.
“Brody is an outstanding addition to our sales team, which we are continuing to expand due in part to the enthusiasm for our open architecture platform as well as the recent addition of an optional platform level ERISA 3(38) fiduciary service on our Signature Series investments,” said Vince Giordano, Securian’snational vice president of retirement plan sales.
NEXT: Lockton Expands Business
Lockton Expands Business
Lockton is planning to open a new office in Greenville, South Carolina, with a focus on consulting clients on employee benefit programs. Marti Smith and Erin Sottile are set to join the firm on April 15 to lead the newly-formed South Carolina Employee Benefits Practice.
Smith comes onboard as producer tasked with expanding the business and advising clients on employee benefits strategies. Sottile comes in as account executive of employee benefits with the responsibility to advise clients on program implementation techniques, as well as consulting them on their health and welfare programs.
"Marti and Erin are both respected employee benefits professionals with diverse skills who help clients solve business challenges," says Doug Hutcherson, president of Lockton's Southeast operation. "They will be a great addition to our new office starting April 15 as we expand our operations into the Greenville region."
Smith has more than 20 years of experience in employee benefits, human resources and the financial services industry. She recently worked at Willis Towers Watson. Sottile is an experienced employee benefits account executive, working with an array of clients on long-term benefits planning as well as day-to-day operational issues for human resources clients.