Deals & People July 15, 2024

TPA-Advocate Group NIPA Names Next Officers

The institute taps five 2024-2025 board officers.

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The National Institute of Pension Administrators has named five retirement industry leaders as officers.

NIPA, founded in 1983, represents the third-party-administrator industry by providing education, training and designations. The group is made up of 800 member organizations and has a total of 14 board members.

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“I look forward to working with the entire board to help our valued members grow their businesses through increased revenue, more efficiencies, world-class education to their employees, best-practice exchanges and deep peer-to-peer relationships,” said Laura J. Rudzinski, executive director of NIPA, in a statement naming the new board officers.

She also thanked outgoing president Shayna Osborne of Osborne & Associates Inc., who will remain on the board as an officer, and outgoing board member Joe Burt, president of Pension Plan Specialists, for 11 years of time on the board. The new officer class includes:

  • Ilene Ferenczy, managing partner of Ferenczy Benefits Law Center, will take over as president of the board of directors. Ferenczy’s work includes advocating to the Department of Labor and IRS on behalf of plan sponsors;
  • Karyn Dzurisin, the TPA retirement plan counselor lead at Capital Group, will be president-elect for 2024-2025. Prior to joining Capital, she was a sales manager at Baden Retirement Plan Services;
  • Osborne, president of Osborne & Associates, will transition to board member as immediate past president. She specializes in profit-sharing, pension, 401(k), cash balance and defined benefit/defined contribution combination plans;
  • Heather Windjue, assistant vice president of third-party administration and customer care for Principal Financial Group, will join as chief financial officer. She has spent her career overseeing and managing service and operations teams for recordkeepers and a TPA firm; and
  • Andy Lovell, vice president of FuturePlan Initiatives at FuturePlan by Ascensus, will serve as an executive member at-large. He has more than 18 years of TPA experience.
Correction: fixes details about the appointments.
Uncategorized July 15, 2024

Advisory M&A News – 7/15/24

Wealth Enhancement Group acquires Peak Financial Services and Rock House Financial; Dalton joins Cetera Advisor Networks, and Rally Wealth and Benefits joins Cetera's Summit Financial Networks; RBC adds Callot Wealth Management Group.

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Wealth Enhancement Group Acquires Peak Financial Services and Rock House Financial

Wealth Enhancement Group announced the acquisition of Peak Financial Services Inc., a hybrid registered investment adviser located in Northborough, Massachusetts. Peak Financial Services oversees more than $123 million in client assets and is led by Kevin O’Brien, its founder and president.

Founded in 1995, Peak Financial Services provides comprehensive wealth management services to Central Massachusetts and beyond. The firm has specific experience in working with clients who are at or near retirement, as well as with executives of high-tech and biotechnology companies.

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“We are pleased to announce the acquisition of Peak Financial Services as we continue to expand our foothold in the Northeast,” said Jim Cahn, chief strategy officer of Wealth Enhancement Group, in a statement.

Additionally, Wealth Enhancement Group announced the acquisition of Rock House Financial, an independent RIA located in Farmington, Utah. The team, comprised of four financial advisers and six support staff, oversees more than $272 million in client assets and is led by Bob Aamodt, its founder; Nicole Roberts; and Zach Nelson.

Founded in 1998, Rock House Financial provides financial planning, asset management and charitable giving strategies to its clients and advises on qualified retirement plans for small businesses. Rock House advisers have specific experience working with business owners, women and social media influencers.

“We are excited to establish a presence in Utah through our latest partnership with Rock House Financial,” said Jeff Dekko, CEO of Wealth Enhancement Group, in a statement. “We look forward to expanding our reach to serve more people in the Mountain West.”

Dalton Joins Cetera Advisor Networks, and Rally Wealth and Benefits Joins Summit Financial Networks

Cetera Financial Group announced that Steven Dalton has joined Cetera Advisor Networks via Cetera Wealth Partners. Dalton provides comprehensive financial planning and investment advice to clients and had more than $146 million in assets under administration as of January 24.

“As I’ve transitioned to Cetera, I’ve been impressed with the firm’s ability to make the big feel small,” said Dalton in a statement. “I look forward to further benefitting my practice and, most importantly, my clients with Cetera’s help.” 

Dalton’s practice works mainly with retirees and those aiming toward early retirement. Outside of work, Dalton serves on the board of the Mary Gale Foundation, which supports low-income women aged 65 or older in Manchester, New Hampshire.

Cetera Financial Group also announced that Rally Wealth and Benefits has joined Summit Financial Networks, a region of Cetera Advisor Networks.

The nine-person team, led by President Bruce Glenn and Managing Partner Kristina Strickland, Glenn’s daughter, provides comprehensive financial planning and investment advice to clients and had more than $325 million in assets under administration as of March 1.

“In particular, we are eager to take advantage of Cetera’s retirement solutions, which we know has been accelerating recently,” said Glenn in a statement. “Overall, we anticipate seeing a boon to our practice while at Cetera, and we believe our clients will feel the difference, too.”

RBC Adds Callot Wealth Management Group

The Callot Wealth Management Group, a New Jersey-based advisory team with about $640 million in client assets, is moving to RBC Wealth Management from Merrill Lynch.

Led by David Callot, its managing director, the team is based in Paramus, New Jersey. Callot will be joined by T. Chris Braun, associate financial adviser; Jon Schulz, investment associate; Evan Levitsky, senior financial associate; and Patricia Kramer, senior client associate.

Callot said RBC was the right fit “because of its global capabilities and supportive, yet entrepreneurial culture.”

RBC was founded in 1909 and currently has approximately $583 billion in total client assets, as well as more than 2,100 financial advisers at 190 offices throughout 42 states.

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