IRA Financial Names New CEO

Clay Cowan

IRA Financial Trust Co., a retirement platform for self-directed retirement clients, appointed Clay Cowan as CEO last week; his predecessor, Tyler Northrup, has transitioned to president and chief operating officer.

The company’s retirement platform has more than $8 billion in assets and more than 27,000 accounts. According to the announcement, Cowan and Northrup will focus on scaling the platform and the company.

In May, IRA Financial first allowed its clients to access both traditional investments and alternative assets—such as real estate, private equity, precious metals and cryptocurrencies—within a single self-directed retirement account.

“Retirement investors are looking for more control, more flexibility and better alignment from the platforms they trust with their long-term wealth,” Cowan said in a statement. “By expanding access to the kind of investment opportunities once reserved for large institutions, we’re giving everyday Americans a stronger wealth-building playbook.”

Cowan, who was previously the chief marketing officer of IBM, held prior senior roles at Betterment, McKinsey and consumer-focused companies such as Gilt Groupe and Starwood Hotels. He earned an MBA from Harvard Business School and a bachelor of arts degree from Harvard University.

“Clay is an exceptional executive with the strategic range and operating experience to help lead IRA Financial through its next chapter of growth,” said Adam Bergman, IRA Financial’s founder, in a statement. “Clay’s background across major technology and fintech organizations makes him the right leader to help us scale that vision.”

IRA Financial’s accounts include self-directed individual retirement accounts, solo 401(k)s, checkbook IRAs, crypto IRAs and health savings accounts.