Retirement People Industry Moves

E*Trade and Edelman Financial Engines announce custody relationship; Edelman Financial Engines appoints former EBSA leader to board; Investment strategist joins FIA; and more.

TCA by E*TRADE has introduced an new custody relationship with Edelman Financial Engines

Edelman Financial Engines will gain a national presence in the E*TRADE Advisor Network, a channel for financial professionals to connect with clients in need of higher-touch services on the TCA by E*TRADE platform. The referral network is set to launch in the coming months.

“Edelman Financial Engines is excited to join E*TRADE’s national referral program to expand our reach and provide more financial help to American families,” said John Bunch, chief operating officer of Edelman Financial Engines.

Edelman Financial Engines appoints past EBSA Assistant Secretary to board of directors

Phyllis Borzi has joined Edelman Financial Engines’ board of directors. Borzi was the assistant secretary of the Department of Labor for the Employee Benefits Security Administration (EBSA) from 2009 to 2017.

Today, Borzi serves on the Institute for the Fiduciary Standard board of advisers and is a chartered member and former president of The American College of Employee Benefits Counsel. She has also held positions on the advisory board of the BNA Pension & Benefits Reporter, the advisory committee of the Pension Benefit Guaranty Corporation, and the advisory board of the Pension Research Council. Borzi also serves on the board of the Women’s Institute for a Secure Retirement.

Prior to Borzi’s role as assistant secretary, she was a research professor at George Washington University Medical Center’s School of Public Health and Health Services. She was also counsel to the law firm of O’Donoghue & O’Donoghue LLP on Employee Retirement Income Security Act and legal issues affecting employee benefit plans.

Investment strategist joins FIA

Fiduciary Investment Advisors (FIA) has hired Kate Pizzi, as a senior consultant. She has more than 19 years of experience serving the investment advisory and actuarial needs of both public and private clients.

Prior to joining FIA, Pizzi was a managing director with the Hooker & Holcombe investment advisory group. She was also previously employed by Prime Advisors Inc. as senior investment strategist and fixed-income portfolio manager.

MassMutual names workplace distribution head

Bob Carroll has been appointed as head of workplace distribution for Massachusetts Mutual Life Insurance Co. (MassMutual).

Carroll, who reports to Teresa Hassara, head of workplace solutions for MassMutual, is responsible for executing the workplace distribution strategy, continuing to develop sales talent, driving revenue and growing MassMutual’s share of the retirement and workplace markets. Additionally, Carroll will represent MassMutual as a thought leader in the retirement and voluntary benefits markets, and partner with key accounts and relationship management teams to drive business growth and retention.

Carroll comes to MassMutual from John Hancock Financial Services, where he was most recently vice president of national sales.  He has a bachelor’s degree in finance and business administration from Illinois State University and Series 7, 24 and 63 licenses.

Alegeus adds SVP of corporate development and strategy

Alegeus has named Brian Colburn as SVP of corporate development and strategy. This newly created position comes on the heels of the recent Vista Equity Partners acquisition of Alegeus in early September.

Previously, Colburn led initiatives such as the joint purchasing venture between CVS Health and Cardinal Health, and spent spent seven years at Bain & Company in the healthcare and results delivery practice.

Colburn received a master’s degree in finance and strategic management from the University of Chicago Booth School of Business, and he received his bachelor’s from Northeastern University. Colburn currently resides in Massachusetts and will be operating out of Alegeus Headquarters in Waltham.

Morningstar shuffles CIOs in America and Australia regions

Morningstar has appointed Andrew Lill as chief investment officer for Morningstar Investment Management, Americas. Lill currently serves as chief investment officer for Morningstar Investment Management’s Asia-Pacific operations, and as part of a transition plan, will continue to lead this area until Matt Wacher—the newly appointed chief investment officer, Asia-Pacific—joins Morningstar Australia in late January 2019. 

Lill brings more than two decades of experience in investment management, investment consulting and advice, asset allocation, portfolio construction, and related fields to the U.S. and Canadian investment management groups. Moving forward, he will be responsible for leading Morningstar Investment Management’s investment strategies and teams throughout the United States and Canada, and for contributing to Morningstar’s global investment management committees, policies, capabilities, and thought leadership.

Lill will be based in Chicago, while Wacher will be based in Sydney. 

Prior to joining Morningstar, Lill worked for AMP Capital Investors as head of investment solutions in the multi-asset group. Previously, he spent seven years with Russell Investment Group as director of consulting, Asia-Pacific, and ultimately as director of investment strategy. Lill holds a master’s degree in economics from Cambridge University, England, and is a fellow of the UK Institute of Actuaries.

PCS Hires marketing and communications VP

Professional Capital Services LLC (PCS) has added a new member to its executive leadership team—Vice President of Marketing and Communications Michael Kazanjian. 

Kazanjian brings 15 years of experience in the financial services industry. Most recently, he served as vice president, annuity solutions and retirement plan services for Lincoln Financial Group, where he led marketing strategies.