2014 PLANADVISER Lifetime Achievement Awards
Jim McCarthy
Head of Workplace and Investment Solutions, Morgan Stanley
At the annual PLANSPONSOR/PLANADVISER Awards for Excellence Dinner, Jim McCarthy, head of workplace and investment solutions at Morgan Stanley, was honored with the 2014 PLANADVISER Lifetime Achievement Award.
McCarthy also serves as a member of Morgan Stanley Wealth Management (MSWM)’s management committee. His group supports the firm’s financial advisers in the retirement markets, both corporate and personal, including its corporate retirement directors and affiliate Graystone Consulting’s institutional consulting directors. The group oversees the distribution of mutual funds, annuities, insurance products, exchange-traded funds and notes (ETFs and ETNs), and unit investment trusts; it also is accountable for the relationship management function for the traditional asset management community that distributes through MSWM.
One of the largest businesses of its kind in the world, with more than $1.8 trillion in client assets, Morgan Stanley Wealth Management provides a range of wealth management products and services to individuals, businesses and institutions.
Prior to his current role, McCarthy was accountable for retirement, corporate stock programs, financial planning and trust services at Morgan Stanley.
McCarthy currently serves on the board of the Employee Benefit Research Institute (EBRI) and on the board of Morgan Stanley Private Bank, N.A., where he is a member of the trust committee.
He earned a B.S. from the College of William and Mary and a J.D. from St. John’s University.
“Jim has championed the retirement-focused plan adviser,” says Alison Cooke Mintzer, editor-in-chief of PLANADVISER. “His support for these advisers at Morgan Stanley and at Graystone Consulting has facilitated the growth and development of some of the most sophisticated retirement deliverables in the industry. Thousands of plans across the country, and the hundreds of thousands of participants in these plans, have achieved better retirement outcomes as a result of Jim’s efforts.”
Charles Nelson
President, Retirement Services, Great-West Financial
At the annual PLANSPONSOR/PLANADVISER Awards for Excellence Dinner, Charles Nelson, president of Retirement Services at Great-West Financial, was given the 2014 PLANSPONSOR Lifetime Achievement Award.
Nelson joined Great-West Financial in 1983 and was appointed president of its Retirement Services division in 2008, after serving as the unit’s senior vice president since its inception. He continues as the senior officer responsible for the firm’s defined contribution (DC) and defined benefit (DB) programs, overseeing the corporate, government, health care, nonprofit and institutional lines of business.
Under Nelson’s leadership, Great-West Financial has grown from the 38th largest recordkeeper, in 1995, to a top-tier retirement plan provider that supplies 401(k), 401(a), 403(b) and 457 retirement plan services to 30,000 plans, representing 4.9 million participant accounts and $219.9 billion in assets as of December 31, 2013.
Per PLANSPONSOR’s 2013 Recordkeeping Survey, Great-West Financial is now the fourth-largest recordkeeper in terms of total participants; seventh-largest by total assets; largest 457 plan provider; and ninth-largest in terms of total 401(k) and 403(b) recordkeeping assets.
Outside of the recordkeeping platform, Nelson has also led the development of the company’s multimanager, open architecture, multi-glide-path target-date funds (TDFs) and its Retirement Income Control Panel offering.
He has served as president of the board of directors of The SPARK Institute and has been a member of the National Association of Government Defined Contribution Administrators (NAGDCA) since 1985.
Nelson is a graduate of Whitman College with a degree in chemistry and economics.
“Charlie has grown the retirement plan group at Great-West from an also-ran into an industry leader, by virtue of a tireless commitment to quality and service, all at a reasonable cost,” says Alison Cooke Mintzer, editor-in-chief of PLANSPONSOR. “He has a vision for what a recordkeeper should offer to advisers, plan sponsors and participants, and he has made that vision a reality.”