Retirement Industry People Moves

Early assumes role of chief strategy officer at Vestwell; Principal selects Dessouki as chief marketing officer; Puerto joins J.P. Morgan Private Bank as head of retirement plan solutions.


Early Joins Vestwell as Chief Strategy Officer

Danya Early

Vestwell announced that Danya Early has joined the executive leadership team as chief strategy officer. Reporting to Aaron Schumm, Vestwell’s founder and CEO, Early will oversee strategic initiatives and lead corporate development.

“Now is the perfect time to bring Danya onboard, as her strategic fintech experience will be an additive component to the next level in our growth,” said Schumm in a statement.

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Previously, Early was the chief strategy officer and chief of staff at Securitize, a blockchain-based platform for alternative assets. She was also part of the launch team for Two Sigma’s fintech startup called Two Sigma Insurance Quantified.

Prior to those roles, Early was chief of staff and head of finance for Goldman Sachs Investment Management Divisions-Operations. She began her Wall Street career at Goldman Sachs in equity research covering software companies.

Principal Announces Dessouki as New Chief Marketing Officer

Mona Dessouki

Mona Dessouki will join Principal Financial Group as chief marketing officer, responsible for driving global marketing efforts across key market segments.

“Mona brings a wealth of knowledge, experience, and perspectives to Principal, all of which will help elevate our marketing strategy to reach and engage current and prospective clients with Principal,” said Ellen Shumway, senior executive managing director and global head of product and marketing for Principal Asset Management.

Based in New York, Mona will report to Shumway and lead an asset management marketing team of over 35 individuals across the United States, Europe, and Asia, according to Principal.  

Mona has over 20 years of marketing experience. She joins Principal from J.P. Morgan Asset Management, where she served as executive director of acquisition marketing and digital experience.  

Puerto Joins J.P. Morgan Private Bank as Head of Retirement Plan Solutions

Abe Puerto has started as head of retirement plan solutions at J.P. Morgan Private Bank, according to the company.

Puerto will be responsible for leading a team of retirement plan consultants and investment consulting specialists. They work with the Private Bank’s wealth advisers to provide retirement plan solutions to business owner clients. Puerto joins the firm with over two decades of experience in the retirement industry, most recently from UBS, where he was head of retirement plan provider relationship management.

Based in New York City, Puerto will report to Chris Fletcher, global head of the private bank’s outsourced chief investment office.

Former BlackRock Head of iShares Hired 

Turing Technology Associates has hired Robert Nestor as senior managing director and chief commercial officer at the financial technology firm, effective August 15, a spokesperson confirmed by email.

Nestor is responsible for driving the commercial side of the business—including product and services, sales and marketing and business administration, says the spokesperson. He reports to Vadim Fishman, co-founder, CEO and chief technology officer at Turing.

Turning provides financial technology through artificial intelligence and advanced machine learning processes focused on asset management and technology innovation, licensing its’ technology and intellectual property to investment management, insurance, brokerage, and RIA/wealth firms to support investment solutions.

Nestor was previously self-employed. Prior to that, Nestor was the president and head of financial products provider Direxion and worked at BlackRock in several roles for more than a decade, attaining the final title of managing director and head of iShares and Smart Beta.

Investment Product and Service Launches

Snappy Kraken introduces AI email builder; American Life & Security Corp. launch annuity product; Vanguard expands active lineup; and more.


Snappy Kraken Introduces AI Email Builder

Snappy Kraken announced the launch of an artificial intelligence-powered email builder for advisers with the goal of cutting down on the time and effort of sending personalized client emails.

The new offering uses AI-driven technology to provide a drag-and-drop email builder through which advisers can craft more engaging email text and headlines. The email builder can also generate personalized images and includes smart buttons to drive adviser conversions, according to the announcement.

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“Our AI-powered email builder functions like a highly energized professional writer, marketer and designer, minus the accompanying overhead,” Angel Gonzalez, Snappy Kraken’s chief marketing officer, said in a statement. “With our new email builder, advisers can go from idea to finished email in mere minutes.”

Snappy Kraken’s product leverages insights from sending more than 100 million emails on behalf of advisers, according to the firm.

American Life & Security Corp Announce New Annuity Product

American Life & Security Corp., a subsidiary of Midwest Holding Inc., has announced a new annuity product called American Fusion.

The product, distributed by American Life’s IMO partners, combines key characteristics of a Multi-Year Guaranteed Annuity and a Fixed Index Annuity with the goal of providing a guaranteed rate for five years, with potential to participate in market growth without downside exposure, according to the announcement.

“Fusion combines a competitive full-term guaranteed rate with a strong performance threshold rate that can help meet the needs of pre-retirees and retirees of all ages,” Tom Bumbolow, head of distribution and business development, said in a statement.

American Fusion policyholders can take a required minimum distribution starting in the second contract year without a penalty. If any withdrawals are taken except RMDs starting in year two, the contract will be ineligible for a bonus interest credit.

American Fusion is approved for sale in 21 states and the District of Columbia: Arizona, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, South Dakota, and Texas. Approval is pending in the remaining 4 states of the company’s current footprint, according to the announcement.

Vanguard to Expand Active Lineup with International Dividend Growth Fund

Vanguard announced plans to launch Vanguard International Dividend Growth Fund, an actively managed equity designed to compound wealth over the long term by investing in international companies with sustainably growing dividends

The International Dividend Growth Fund’s portfolio manager will construct a portfolio of companies with strong balance sheets and high, sustainable free cash flows, according to Vanguard. The fund will seek to invest in companies that can withstand the ups and downs of the business cycle, with an emphasis on market resilience in all environments.

“Investors can use the International Dividend Growth Fund as a meaningful component of their international equity holdings, and it can be paired with the U.S.-focused Dividend Growth Fund to build a globally diversified, actively managed equity allocation,” Dan Reyes, global head of the portfolio review department at Vanguard, said in a statement.

The fund will be managed by the investment team from Wellington Management Company LLP that is behind the Vanguard Dividend Growth Fund.

The fund is expected to be available for investment in the fourth quarter of 2023 with an expense ratio of 0.54%. It will have a single share class with a minimum initial investment of $3,000, according to the announcement

CreativeOne and RISA Enhance Retirement Income Planning

CreativeOne announced a new strategic partnership with RISA, the Retirement Income Style Awareness profile run by retirement income experts Wade Pfau and Alex Murguia.

CreativeOne’s financial advisers will have access to the RISA platform to survey clients’ retirement income preferences. The RISA profile will then provide advisers with actionable data to implement targeted retirement income strategies.

“By identifying individual retirement income preferences, CreativeOne’s advisers will be better equipped to tailor retirement strategies to each client’s unique needs,” Alex Murguia, co-founder of RISA, said in a statement.

“CreativeOne’s commitment to creating meaningful, personal relationships aligns perfectly with the RISA’s goal of empowering financial advisors with the insights they need to make the most informed decisions for their clients’ retirement income planning,” Mike Miller, president, partner, and CEO of CreativeOne, said in a statement.

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