Castle Rock Innovations Adds Masterson to Board

Joseph Masterson was appointed as an independent board member at Castle Rock Innovations, a financial services industry technology provider.

Masterson, who is retired from his position as senior vice president and chief marketing officer of Transamerica Retirement Solutions, was a member of the firm’s senior leadership team, where he was responsible for sales growth at double the industry average growth rate.

Previous to his role at Transamerica, Masterson was founder, senior vice president, chief sales and marketing officer and executive committee member at Diversified, which combined with Transamerica Retirement Services to become Transamerica Retirement Solutions. (See “Transamerica and Diversified to Combined Under One Name.”)

Responsible for the design and execution of the rapid-growth strategic plan resulting in pension industry leadership positions in 403(b), 401(k), defined benefit, administrative services and nonqualified deferred compensation (NQDC), Masterson was responsible for innovative positioning that contributed to asset growth, from $6 billion to $71 billion, in assets serviced and sales-close ratios far above industry averages.

Masterson has compliance experience in the Office of Supervisory Jurisdiction (OSJ) for sales, marketing and client management. He advised UK pension regulators about participant services, as well as executives in the defined contribution market in China, France, the Netherlands, the U.K. and Hungary.

Masterson is a frequent speaker, author and innovator on retirement plans, alternatives, custom target date solutions, fee disclosure, fund revenue equalization, asset-allocation strategies, savings, investments and business growth strategies.

Noncompliance with required disclosure is of concern to many senior executives and compliance officers, according to Masterson. “It is great to be associated with a firm that helps so many organizations solve their disclosure, benchmarking and data aggregation issues,” he says.