Asset International Adds Two Market Intelligence Firms
The acquisition of Market Metrics and Matrix Solutions from
FactSet will broaden AI’s portfolio of proprietary data and business intelligence
capabilities for advisers and asset managers.
Asset International (AI), publisher of PLANADVISER and
PLANSPONSOR and provider of data-driven business intelligence for the asset
management industry, today announced plans to acquire Market Metrics and Matrix
Solutions from FactSet.
AI describes Market Metrics and Matrix Solutions as “leading
data and research firms for adviser-sold investments and insurance worldwide,”
pointing out that the acquisition expands Asset International’s deep proprietary
asset management and insurance industry data sets. The acquisition also
provides Asset International with “a unique delivery model from C-level
face-to-face meetings to the industry leading Financial Clarity analytics
platform.”
Through the acquisition and its existing business lines, Asset International aims to
provide a one-stop shop for data and insights supporting product innovation,
manufacturing, sales and distribution for the asset management and insurance
communities—while also providing market surveillance solutions and marketing
channels for this community.
Market Metrics was founded in 1993 and is headquartered in
Boston. Matrix Solutions was founded in 1985 and is headquartered in London. AI
says both companies have a “heritage of providing strategic consulting and
mission-critical data sets for mutual funds, variable annuities, mortgages and
life insurance.” The acquisition is expected to close within 45 days.
Commenting on the acquisition, Asset International CEO Joel
Mandelbaum said the firm will continue its push to “realize our
ambition of creating the go-to supplier for the asset management community. The
combination of Asset International with Market Metrics and Matrix Solutions
represents an excellent fit for our clients and employees, and we are delighted
to be joining forces.”
Owned by Genstar Capital, Asset International provides proprietary
data, business intelligence, information services and marketing solutions to
the global investment management industry. AI‘s portfolio includes investment
flow data, research, analytics, editorial and events for the global asset management
community, asset owners and custodians, plus TCA for 500 million trades per
month.
Segal Group expands communications practice with new hire; Newport Group names leader of institutional sales; Voya Makes organizational changes, and more.
Jennifer Schuster has rejoined The Segal Group as a vice president and senior consultant in the communications practice.
Schuster
has 20 years of experience in planning and managing employee communications and
change initiatives. After first joining Segal in 2003, she worked with
employers and other plan sponsors on various communications projects, including
total rewards, organizational change, health and financial well-being programs,
career frameworks, performance management and social media strategies.
Schuster
rejoins Segal from Mercer, where she served for one year as a principal and
senior consultant. She has spoken at conferences sponsored by the International
Foundation of Employee Benefit Plans, WorldatWork and CUPA-HR and is a recent
recipient of the International Association of Business Communicators Gold Quill
Award.
Schuster
earned a BA from the University of California, Davis. She is based in the
firm’s San Francisco office.
NEXT: Newport Group Names Leader of
Institutional Sales
Micah DiSalvo has joined Newport Group as senior vice president, institutional sales.
DiSalvo
will lead the company’s qualified retirement plan sales team in the further
development of business goals and strategies. He will report to CEO Greg Tschider.
DiSalvo
has 17 years of experience in the retirement services industry. Prior to
joining Newport Group, he was a vice president of retirement sales and service
with BMO Retirement Services, which was recently acquired by OneAmerica. In
that role, he was responsible for all aspects of the company’s institutional
markets, including sales, relationship management, client services, and
marketing.
He
previously served as director of institutional sales for CUNA Mutual Group, and
a regional sales support specialist for U.S. Bancorp’s investments and
insurance group.
NEXT: Voya Makes Organizational Changes
Voya Financial’s retirement business
announced a number of strategic changes to support its goals for accelerated
growth and its commitment to the retirement business.
Voya
is combining its small/mid corporate and large corporate markets segments into
one corporate markets business. Previously, these two businesses were run
separately. While successful on their own, the company sees even greater
opportunity for accelerated growth under one leader. Voya Retriement CEO Charlie Nelson will be overseeing the combined corporate markets business until a new leader has been identified. Rick Mason, who was overseeing the small/mid corporate market segment, will
be focusing on retirement research and taking on a role as a senior adviser for
the company’s Retirement Research Institute.
The retirement organization will also be adding a leader to its tax-exempt markets (TEM) business through an internal
promotion from its insurance solutions organization. Heather Lavallee, who has been successfully overseeing Voya’s employee benefits business, will serve in this TEM leadership role. Going
forward, Carolyn Johnson, who was
managing both Voya’s annuities and tax-exempt markets since 2014, will be dedicating her focus on the annuities business. Johnson, who reports into Alain Karaoglan, Voya’s COO and CEO of retirement and investment solutions, helped reposition and grow the TEM business over the past two
years and leaves a strong foundation for Lavallee to build upon.
NEXT: Heffernan Hires Adviser for Orange County
and Los Angeles Offices
Sean Kelly has joined Heffernan Retirement Services, a
division of Heffernan Insurance Brokers, to serve as the retirement plan adviser for the Orange County and Los Angeles
offices.
Kelly
comes to Heffernan with well-rounded experience in the retirement plan space.
He began working for Bill Chetney at NRP,
followed by heading up the West Territory Retirement Partners Consulting team
under Greg Koleno after the LPL
acquisition, and most recently recruiting advisers to LPL as part of Geoff White's Retirement Partner's business development team. Kelly also worked extensively within the bank channel at
LPL, integrating LPL's banks and credit unions in to the retirement plan space.
Since
starting with NRP in 2007, Kelly had always planned on transitioning in to an
adviser role at some point.
Since
2007, Sean has worked with Blake
Thibault, John Prichard, Sr., and John Clark from the corporate BD/RIA side
at NRP and LPL. "The Heffernan team is on the short list among the most
respected retirement advisers in the industry," Kelly states.
"Recruiting and consulting to hundreds of retirement plan advisers for
just fewer than 10 years enables a person to develop a well-rounded perspective
on advisers and our industry… joining Heffernan is the right call."
"We
are excited that Sean has joined the Heffernan Retirement Services team,"
says Blake Thibault, managing director.
"With Sean's background and experience, we feel strongly about his ability
to build relationships with plan sponsors and participants, and guide them down
the retirement plan pathway."
NEXT: Ellwood Associates to Acquire Watershed
Investment
Investment
consultancy Ellwood Associates has
entered into a purchase agreement to acquire Colorado-based Watershed Investment Consultants,
subject to customary closing conditions, including obtaining consents from
Watershed clients.
The
closing is expected to occur on or about May 31. Ellwood and Watershed are both private,
Securities and Exchange Commission (SEC) registered, employee-owned firms that
provide research-based investment related counsel and services for institutions and high net worth
individuals and families.
According
to Russell Hill, Ellwood’s chairman and
CEO, the combination is designed to benefit the clients of both firms: “Ellwood clients will gain from the addition of three highly respected
investment professionals with decades of experience, who share our core values
and standards of client service. Watershed clients will gain from the
professional depth and operational and research resources that Ellwood has
established over the past 39 years.”
Upon
completion of the transaction, Watershed’s
three principals—Dale Connors, Paul Schreder and Kevin Yoshida—will become
senior consultants and have equity ownership positions at Ellwood, and will
continue to operate from Watershed’s current location in Greenwood Village,
Colorado. The transaction will not affect existing relationships with Ellwood
clients, or the current operating structure of Ellwood. Watershed clients will become clients of Ellwood
upon completion of the transaction.
NEXT: Sheridan Road Hires Adviser Team in
Indianapolis
Sheridan Road
Financial,
an institutional investment consulting and private wealth management firm, has hired a five-person team led by Brett
Ramsey based in Indianapolis.
“Brett
and his team, Steve Davis, Justin Fisk,
Brandon Lewis, and Cindy Ruble, are an ideal fit for Sheridan Road,” says Daniel Bryant, managing partner. “In
addition to his growing wealth management practice as president of Novus Wealth
Advisors, Brett has been working with retirement plan participants for over 15
years. His team has created some unique processes around working with in-plan
participants and has an established track record with corporate retirement
plans. Further, the team enthusiastically embraces the collaborative Sheridan
Road culture,” notes Bryant.
“While
we have had a great presence in Indianapolis for some time, this move will
significantly expand our effort through the entire state of Indiana,” adds Chris Karam, chief investment officer.
NEXT: PENSCO Selected as Alternate Asset
Custodian for Certain Morgan Stanley Clients
Opus
Bank’s subsidiary PENSCO Trust Company,
a tech-enabled alternative asset IRA custodian, has entered into an agreement
to be appointed successor custodian for
certain Morgan Stanley Smith Barney LLC clients’ self-directed individual
retirement accounts, qualified plans, and other self-directed custodial
accounts that are invested in alternative assets.
The agreement
makes clear that Morgan Stanley and its approximately 16,000 registered
investment adviser may begin referring new Morgan Stanley accounts to PENSCO
and that approximately $1.2 billion of assets in approximately 8,000 existing
Morgan Stanley client IRA accounts invested in alternative assets will be transferred
in bulk to PENSCO at the start of June of 2016.