Voya Adds New Roles, Expanding Wealth Solutions Team

Voya Financial has expanded its retirement products wealth solutions distribution team, adding two positions focused on new-market growth, the firm announced Monday.

Shelly Nolfi.

Voya appointed Shelly Nolfi and Holly Monday to the newly created positions of assistant vice president for client management and expansion, with both starting last week.

Nolfi and Monday are responsible for leading the New York City recordkeeper and investment manager’s strategic growth in emerging, mid-market, large and government market segments. 

“Voya has an opportunity to expand our presence and further growth, particularly within the mid-market, which is why Voya is investing in additional resources within distribution to support this [market segment],” Sheila McCullough, Voya’s senior vice president and wealth solutions client engagement leader, said in a statement.

Voya considers plans with assets between $50 million and $250 million the mid-market retirement plan segment. Voya representatives did not provide details for how the moves may affect their work with existing plan sponsor clients.

“These newly created positions within our client engagement team will allow for an even greater focus on being able to execute Voya’s plans to grow our existing scale and workplace benefits and savings products with our clients today, including solutions such as an entrance to the [health account solutions] market, managed accounts, executive benefits, emergency savings and Voya’s broader guidance and advice solutions,” McCullough wrote by email. “As we continue to purposefully expand our offerings where additional solutions may advance our customers’ overall experience, Shelly and Holly will play a critical role in our future success, given their broad breadth of client experience.”

Holly Monday.

Nolfi joined Voya eight years ago, working most recently with the client engagement division as a senior director focused on strategic planning and service delivery. Monday joins Voya from Fidelity Investments, working most recently as a vice president and managing director, and has extensive experience in sales, strategic planning, business development, relationship building and customer service.

The new roles at Voya were added to build on “recently introduced positions” within the broader distribution team and, more specifically, Voya’s intermediary relations team, according to the company.

The firm expanded its wealth solutions retirement distribution earlier this month, moving to develop enhanced dual investment defaults.

Two of Voya’s competitors, Principal Asset Management and T. Rowe Price, expanded their retirement planning and product distribution capabilities with internal promotions and outside hires in July.