Russell Picks DC Advisory Director

Andrew Scherer was appointed director of defined contribution (DC) intermediary distribution for Russell Investments’ U.S. adviser-sold business.

Scherer’s team delivers retirement plan insights and solutions, such as mutual funds and other multi-asset solutions, to DC recordkeeping platforms, retirement plan sponsors and retirement plan advisers.

Scherer joined Russell in March, bringing 28 years of experience in financial services. He is based in the firm’s Chicago office and reports to Michael Winnick, managing director of U.S. sales and partnerships for the adviser-sold business. 

One of Scherer’s tasks will be continuing to build momentum in Russell’s defined contribution investment-only (DCIO) business. He will focus on managing relationships with DC recordkeeping platforms, and lead the team that works with Russell’s sales and service teams to deliver DCIO solutions to retirement plan intermediaries and strategic distribution partners.

Scherer and the DCIO team also will work closely with Russell’s institutional DC group, led by Dick Davies, to deliver institutional quality solutions to plan advisers, plan sponsors and their participants, as well as Russell’s perspectives on plan design, investments and implementation.

Before joining Russell, Scherer was a national sales director at Invesco, and also served as a managing director at Morgan Stanley and Van Kampen. Scherer launched and expanded Van Kampen’s DCIO business and later took on leadership of Morgan Stanley’s DC, variable annuity, managed accounts, registered investment adviser and Latin American businesses.

Russell Investments is a global asset manager with assets of more than $24 billion under management and assets of more than $117 billion under advisement in its DC business.