Transamerica Provides New TPA Companies VP
Kent Colwell has transitioned to the position of third-party administrator (TPA) companies vp for Transamerica. His territory covers the Western United States, together with Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah and Washington.
In his new position, Colwell is liable for constructing and sustaining relationships with third-party directors of office retirement plans, serving to them develop inventive methods to extend their corporations’ visibility and worth within the aggressive market. He’ll report back to Joshua MacDonald, senior supervisor and vp of TPA improvement at Transamerica.
Colwell has greater than 20 years of expertise within the monetary business. He first joined Transamerica in 2019.
Colwell holds a number of business designations, together with the chartered retirement plans specialist designation from the School for Monetary Planning and the accredited funding fiduciary designation from the Middle for Fiduciary Research.
“Transamerica is dedicated to offering TPAs with the most effective help within the business. We’re delighted that Kent Colwell is bringing his wealth of expertise and in depth business data to the position of TPA companies vp,” says Deborah Rubin, managing director of TPA Companies and Particular Markets at Transamerica.
Strategic Funding Group Proclaims New Co-Chief Funding Officer
Strategic Funding Group has introduced that Christopher Lvoff is becoming a member of the agency as a co-chief funding officer (CIO), working alongside Co-Chief Funding Officers Eric Bendickson, Markus Krygier and Tim O’Hara. They are going to be liable for all points of the corporate’s funding course of, portfolios and efficiency.
Lvoff will work carefully with funding, analysis and analytical workers in growing, integrating and implementing funding insurance policies for the agency’s purchasers. Lvoff joins a crew that has a mean of 29 years of business expertise and 17 years with the firm.
“Chris brings deep asset administration data and in depth funding expertise of working with buyers of all kinds, together with endowments, foundations and pensions, to help our unwavering give attention to being our shopper’s trusted and sturdy accomplice,” says Brian A. Murdock, strategic funding group president and CEO.
Lvoff is a graduate of the Wharton College on the College of Pennsylvania, a Chartered Monetary Analyst (CFA) and an affiliate of the Society of Actuaries (ASA). He beforehand labored for Goldman Sachs Asset Administration, the place he spent the previous 14 years, most lately as managing director of the agency’s multi-asset options crew. Previous to Goldman Sachs, he labored at Towers Perrin in Philadelphia as an actuarial affiliate and guide.
Constancy Names Joanna Rotenberg to Lead Private Investing Division
Constancy Investments has introduced that Joanna Rotenberg has been named head of the private investing division, efficient in early November. Rotenberg succeeds Kathy Murphy within the position. Earlier this yr, Murphy introduced her determination to step down earlier than the tip of the yr.
Rotenberg joins Constancy from Toronto-based BMO Monetary Group, the place she has been serving as group head of wealth administration and as a member of the corporate’s government committee. Rotenberg will report back to Abigail Johnson, chairman and CEO of Constancy. She may even be a part of the Constancy working committee.
Throughout her time at BMO, Rotenberg labored on revamping the web investing platform for BMO’s direct channel. She additionally helped to steer BMO’s effort to introduce SmartFolio, a robo adviser answer, and AdviceDirect, which is a hybrid recommendation platform.
“Joanna brings to Constancy a forward-thinking, results-driven strategy and a ardour for the digital expertise,” Johnson says. “She is going to assist us speed up our digital working mannequin for the good thing about present purchasers in addition to the subsequent technology of Constancy prospects.”
Constancy’s private investing division serves greater than 30 million shopper accounts with $4.1 trillion in belongings beneath administration (AUA).
AdvisorEngine Grows Management Group
AdvisorEngine Inc. introduced three new management hires this week.
George Tamer is the brand new head of gross sales; Suleman Din is the brand new adviser intelligence lead; and Christina Esfehani turns into head of product advertising and marketing. These additions transfer the corporate nearer to its aim of creating 25 new hires over the subsequent yr and comply with Raj Madan’s arrival at AdvisorEngine as chief funding officer (CIO) in July.
Tamer is an professional on finest practices in wealth administration, having visited 1000’s of adviser workplaces over the previous 25 years. He previously labored at TD Ameritrade Institutional, the place he led the gross sales and relationship administration crew, together with observe administration and expertise consulting. His expertise matches with AdvisorEngine’s aim of being a strategic accomplice to its purchasers, somewhat than merely serving as a vendor.
“George is properly revered within the business for his authority on observe administration, advocacy for monetary planning and recommendation on expertise options,” says Wealthy Cancro, AdvisorEngine CEO. “He’s a considerate chief devoted to serving the funding adviser group, and we’re thrilled to welcome him to our crew.”
Din, previously the monetary expertise editor at American Banker and Monetary Planning, has joined as adviser intelligence lead, to information AdvisorEngine’s thought management content material program. On this position, Din will interact instantly with wealth administration practitioners to debate urgent alternatives and challenges available in the market.
At Monetary Planning, Din launched INVEST Insights, a e-newsletter devoted to overlaying the evolution of digital wealth administration. He additionally helped to ascertain the INVEST Convention, an occasion centered on digital wealth administration recommendation.
Esfehani joins AdvisorEngine as head of product advertising and marketing, bringing greater than 20 years of monetary companies advertising and marketing expertise. She is going to sharpen how AdvisorEngine communicates its worth to prospects, purchasers, colleagues and companions.
“AdvisorEngine has a pushed crew and a particular platform,” Esfehani says. “I’m excited to assist extra folks join with our imaginative and prescient and our capabilities.”
Franklin Templeton to Purchase O’Shaughnessy Asset Administration
Franklin Sources Inc., working as Franklin Templeton, has introduced that it will purchase the quantitative asset administration agency O’Shaughnessy Asset Administration LLC (OSAM). By means of this acquisition, Franklin Templeton provides to its choices within the individually managed account (SMA) business, the place it has $130 billion in SMA belongings beneath administration (AUM) as of August 31.
OSAM’s capabilities, each as a factor-based funding supervisor and as a customized indexing answer through OSAM’s Canvas platform, will serve to develop and improve Franklin Templeton’s present SMA and customized options capabilities. The Canvas platform launched in late 2019 and now represents $1.8 billion of OSAM’s complete $6.4 billion in AUM, as of August 31.
“Technological advances are reshaping how monetary options are delivered, and we proceed to spend money on modern expertise to boost shopper outcomes and their expertise,” says Jenny Johnson, president and CEO of Franklin Templeton. “Customized indexing is aligned with our dedication to bringing subtle customization to a broader funding viewers, and I’m excited to welcome the OSAM crew to Franklin Templeton.”
In accordance to Franklin Templeton, customized indexing represents a big space of development in asset administration, and Canvas permits monetary advisers to construct and handle customized indexes in SMAs which can be individually tailor-made to the shopper’s particular wants and targets. Advisers can create funding templates; entry issue investing methods; use passive methods; and apply environmental, social and governance (ESG) investing and socially accountable investing (SRI) screens to stick particularly to the shopper’s private beliefs.
Canvas additionally offers the chance for advisers to set tax budgets, establish realized and unrealized positive aspects and losses, and systematically promote sure positions to create offsets.
“Customized indexing represents the subsequent development of investing by way of indexing, ETFs [exchange-traded funds] and direct indexing,” says Patrick O’Shaughnessy, CEO of OSAM. “As a part of Franklin Templeton, we’ll have the chance to speed up shopper development at Canvas and proceed so as to add to present OSAM choices.”
By means of this transaction, OSAM’s greater than 40 crew members are anticipated to hitch Franklin Templeton, together with the mandatory mental property, funding administration processes and principal enterprise belongings essential to evolve and develop the enterprise throughout the Franklin Templeton product options group.
The transaction is topic to customary closing situations and anticipated to shut within the fourth quarter of calendar yr 2021.
Franklin Templeton to Purchase Funding Grade Credit score Group From Aviva Buyers
Franklin Sources Inc., working as Franklin Templeton, has introduced the expertise acquisition of Aviva Buyers’ U.S.-based funding grade credit score crew, together with senior portfolio managers Josh Lohmeier and Michael Cho, each Chartered Monetary Analysts (CFAs). They be a part of Franklin Templeton Mounted Revenue (FTFI).
As well as, Tom Meyers, a CFA who beforehand headed Aviva’s Americas shopper options crew, will be a part of FTFI in a newly created position: senior vp and senior director of investments and technique improvement. Meyers, Lohmeier and the complete funding crew are anticipated to hitch by the tip of the yr. Lohmeier and Meyers will report back to Sonal Desai, chief funding officer (CIO) at FTFI, and the funding crew will proceed to report back to Lohmeier.
Franklin Templeton Mounted Revenue has $156 billion in belongings beneath administration (AUM), with roughly $13 billion of that in company credit score methods, as of August 31. The agency’s present company credit score analysis crew contains 31 funding professionals, organized by area.
The funding grade credit score crew presently manages greater than $7.5 billion in institutional AUM at Aviva, throughout its suite of funding grade credit score methods, together with U.S. funding grade credit score, U.S. lengthy length credit score, U.S. lengthy length authorities/credit score and U.S. intermediate credit score—with extra custom-made variations of every technique for numerous institutional purchasers. Aviva purchasers in these methods can have the chance to proceed to have the crew handle their belongings at Franklin Templeton.
“Bringing this skilled crew aboard will complement our present credit score capabilities by additional deepening our experience in funding grade credit score, strengthening our analysis and evaluation sources, and increasing our technique choices and capabilities additional into the institutional market, with a particular give attention to outlined profit [DB] and liability-driven investing [LDI],” Desai says. “I sit up for working with Josh and the crew to bolster and differentiate our funding grade credit score choices, and with Tom to deliver this messaging to our purchasers and consultants, particularly within the institutional area.”
Lohmeier brings greater than 18 years of funding administration business expertise, together with 12 years as a portfolio supervisor. He had served as head of U.S. funding grade credit score and portfolio implementation for mounted earnings at Aviva Buyers and as an funding officer for the North American area. Previous to becoming a member of Aviva, Lohmeier labored for AllianceBernstein and American Fairness Funding Life Insurance coverage Co. as an funding grade portfolio supervisor. He’s a candidate for a grasp’s diploma in information science from Northwestern College and has a bachelor’s diploma in finance from the College of Northern Iowa.
Meyers brings greater than 35 years of expertise within the funding administration business. He has served as government director, head of Americas shopper options for Aviva Buyers, main shopper options efforts overlaying the institutional market and sub-adviser relationships. He additionally oversaw funding specialists, guide relations, gross sales, shopper servicing and advertising and marketing groups.
Previous to becoming a member of Aviva, Meyers was managing senior funding director at Authorized and Normal Funding Administration America, the place he launched its institutional efforts within the U.S. Meyers has additionally held senior distribution and funding positions at Seix Funding Advisors, Phoenix Funding Companions and Conseco Capital Administration, and has served as a credit score dealer, analysis analyst, director of credit score analysis and portfolio supervisor over the course of his profession. He graduated from Brown College with a twin bachelor’s diploma in organizational conduct and administration and psychology.
FA Acquires Waddel & Reed
Monetary Advocates (FA) has acquired Waddell & Reed by LPL Monetary.
Now supporting greater than 250 unbiased monetary advisers, FA offers enterprise consulting, advertising and marketing, mannequin portfolio administration, inside hiring and recruiting, social media and internet help, info expertise (IT) consulting, compliance counsel, and enterprise monetary planning.
“We’re excited to welcome these new advisers into our group and sit up for supporting them to successfully handle and attain their enterprise targets,” says Angela Vlach, FA president and CEO. “The Monetary Advocates crew is devoted to making sure a seamless transition and taking administrative strain off advisers in order that they will give attention to offering their purchasers with the best high quality of service.”
The Wagner Legislation Group Acquires Idaho-Primarily based Agency
The Wagner Legislation Group has opened a brand new Iowa workplace with the acquisition of Germaine Legislation Agency PLLC.
The acquisition contains the addition of legal professional Jason Kotlyarov, who shall be becoming a member of the agency as an affiliate; legal professional Jennifer Germaine, who shall be becoming a member of as a guide; and Kate Prenatt, a paralegal.
Kotlyarov focuses his observe on representing coaching funds for building trades, in addition to different collectively managed multiemployer (i.e., Taft-Hartley) funds, together with outlined profit (DB), outlined contribution (DC) and well being and welfare funds. He offers complete illustration for multiemployer plans, together with evaluation and preparation of requirements and insurance policies, compliance with laws and necessities issued by the Division of Labor (DOL), plan design and drafting, litigation in federal and state courts, and compliance with state regulation and the Worker Retirement Revenue Security Act (ERISA).
Moreover, Kotlyarov focuses on privateness and cybersecurity regulation and advises purchasers on finest practices for assembly cybersecurity-related fiduciary obligations.
Germaine advises apprenticeship packages throughout the nation on dealing with dangers and figuring out hidden alternatives. Her observe focuses totally on multiemployer Taft-Hartley profit plans, together with advising boards of trustees of collectively bargained multiemployer well being and welfare plans, retirement plans (DC and pension plans) and apprenticeship packages with respect to plan design, compliance, participant communications and litigation.
Prenatt has 17 years of expertise working as an workplace supervisor for a labor union.
Allianz Life Names Chief Development Officer
Allianz Life Insurance coverage Co. of North America has employed Susan Sachatello as senior vp, chief development officer, beginning on September 27.
Sachatello oversees improvement of the corporate technique and has total accountability for brand spanking new markets, ventures, product innovation, enterprise advertising and marketing and expertise administration. She experiences on to Jasmine Jirele, Allianz Life president and CEO.
“Susan brings deep experience in technique improvement, advertising and marketing, strategic partnerships, product administration, operations and digital transformation,” Jirele says.
Sachatello most lately labored for Principal Monetary Group and CUNA Mutual Group. She additionally held chief advertising and marketing officer positions for Lands’ Finish, L Manufacturers, and DoubleClick—now Google Advert Supervisor.
Sachatello holds a bachelor’s diploma in economics and English from the College of Richmond, and a grasp’s in enterprise administration diploma from the School of William and Mary.
Okay&L Gates LLP Provides New Associate
International regulation agency Okay&L Gates LLP has welcomed Amanda Albert as a accomplice in the advantages, worker inventory possession plans (ESOPS) and government compensation observe.
Albert joins the agency’s New York workplace from Allen & Overy LLP. Her arrival carefully follows the additions of New York companions Josh Berick and Jacqueline Duval to the agency’s company and asset administration and funding funds observe areas, respectively.
Albert has substantial expertise advising each private and non-private purchasers on worker advantages, employment and government compensation issues. She counsels purchasers on the complete vary of tax, Worker Retirement Revenue Security Act (ERISA), governance, securities and regulatory points. As well as, she advises purchasers on new traits in these areas. This contains representing purchasers on all worker advantages, employment and government compensation points of company transactions, together with mergers and acquisitions (M&As), spinoffs, preliminary public choices (IPOs), reorganizations and restructurings, non-public fairness and funding transactions.
OneAmerica Selects Relationship Managers for Core Market Shoppers
OneAmerica has added Kristin Greim, Rachel Michaelson and Jaimie Beisel as relationship managers specializing in its core market purchasers.
Greim, who joined OneAmerica in August, is serving purchasers in 4 states—Pennsylvania, New Jersey, Maryland and Delaware—from Downingtown, Pennsylvania, a suburb of Philadelphia. She has 23 years’ expertise, together with 20 years at The Vanguard Group. The previous two years, she was vp at USI Consulting Group. She experiences to Bob Blumberg.
Michaelson, who joined OneAmerica in June, relies in Denver and works with purchasers in Colorado and Wyoming. Her greater than 20 years as a monetary skilled contains 12 complete years with Northwestern Mutual. She experiences to Lee Sutton.
Beisel, a 25-year retirement business veteran with plans throughout all markets, joined OneAmerica in June and relies in Indianapolis. He serves purchasers in Indiana, Illinois and Ohio. Previous to becoming a member of OneAmerica, he spent 18 years at Empower Retirement, and earlier than that, seven years at CitiStreet. He experiences to Amy Rice.
Worker Advantages Veteran Joins Lockton in San Diego
Michelle Wong lately joined Lockton Corporations as vp, senior advantages guide, to steer shopper relationships and repair for center market firms in San Diego.
Wong brings greater than 30 years of expertise in worker advantages consulting, holding management positions at a number of high brokerages together with Principal at Mercer in San Diego. She was liable for Mercer’s shopper and market relationships, crew efficiency and repair, high quality management and drawback decision for greater than 20 years. Previous to Mercer, she served as account government at Gallagher Profit.
In her position at Lockton, Wong shall be offering consultative recommendation to center market employers and growing profit options to assist them obtain their recruitment, retention and monetary targets. Along with negotiating on purchasers’ behalf, she may even be liable for worker profit plan administration and communication.
Wong has a grasp’s diploma in enterprise administration from Metropolis College of Washington and bachelor’s diploma in advertising and marketing from Central Washington College.