Benefits industry newsmakers: PlanMember, Mercer Advisors, PayScale, Intrado

Here are recent employee benefits and retirement industry awards, promotions, hires, and more.

Torchlight welcomed new Board member Joanne Derr. Derr served as Vice President of Human Resources at Care.com, Neighborhood Health Plan and UMass Medical School, and led initiatives at Nortel Networks and Digital Equipment Corporation, among other notable roles. She is an active caregiver herself, and is involved in several human and social interest groups in her community.

LPL Financial announced that financial advisors Carter Johns, Michael Chu and John Gillis have joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms. The three advisors comprise JCG, LLC in Chesapeake, Va., and reported having served more than $150 million of client brokerage, advisory and retirement plan assets.

Massachusetts Mutual Life Insurance Company announced enhanced field support and digital tools for third-party administrators that support 401(k)s and other defined contribution retirement plans.The enhancements include launching a new website to provide tools and information for TPAs that work with MassMutual. With this comes the addition of three TPA field support staff:

• Kathy Lake, TPA Market Director for the Southern Division
• Lynette Golly, TPA Market Director for the Central Division
• Rob Ayers, TPA Champion

The new additions join Kellen Craig, who is based in Arizona and covers the Western Division, and Sean Miller, based in Enfield, Conn., who covers the Northeast Division.

The National Association of Plan Advisors (NAPA) announced its list of 100 Top Defined Contribution (DC) Wholesalers, as selected by the nation’s leading retirement plan advisors. The list is available at NAPA’s site.

PayScale announced that Scott Torrey takes on the role of CEO in a planned succession from CEO Mike Metzger. Metzger has led the company as CEO for the last 15 years. Torrey is a former 20-year senior executive with SAP/Concur.

Intrado’s Health Advocate announced that it has been granted three U.S. patents for the technology behind its customer relationship management and case tracking system, MemPHIS (Member Personal Health Information System). The first granted patent covers the technology in MemPHIS that automatically opens a member’s health and benefits profile when they contact Health Advocate; the second and third patents apply to the transfer and conferencing capabilities within MemPHIS.

Mercer Global Advisors announced the acquisition of Sage Future Financial, a wealth management RIA located in Albuquerque, New Mexico, serving approximately 45 high net worth households with AUM of approximately $100 million. The Sage acquisition brings the firm’s total offices to 44 and increases Mercer Advisors’ total AUM to over $16.5B billion.Sage was founded by Donna Skeels Cygan, CFP, MBA. Cygan will join the Mercer Advisors team.

PlanMember Financial Corporation is proud that the first Richard H. Ford Volunteer Service Award has been created by the National Tax-Deferred Savings Association (NTSA). The award honors Ford, who was PlanMember’s Senior Vice President of Marketing and one of its longest-serving employees. The new award recognizes and promotes NTSA members’ volunteer and service work both with NTSA and with their local governmental and nonprofit communities. PlanMember is a broker/dealer, investment advisor, and member of FINRA/SIPC.

Alera Group announced its acquisition of Comprehensive Benefit Administrators (CBA), effective August 1, 2019. Terms of the transaction were not disclosed. All CBA employees will continue operating out of the firm’s existing locations under the name Comprehensive Benefit Administrators, an Alera Group Company, LLC.

Voya Financial announced that its retirement business has been selected to serve as the new recordkeeper for the Baptist Health Care Corporation defined contribution and deferred compensation plans. With more than 6,500 employees and employed physicians, Baptist Health Care is the second largest non-governmental employer in northwest Florida. As of Mar. 31, 2019, the Baptist Health Care retirement savings program represents more than $243 million in assets under administration.

LocatorX announced the appointment of Thomas “Tom” Watjen to its Board of Directors. Watjen is the former President and CEO of workplace benefits provider Unum Group.

Ease announced its partnership with The Standard. With this connection, The Standard will become Ease’s newest EaseConnect+ partner, allowing brokers to submit enrollment data directly to The Standard. Additionally, Ease will fully set up and maintain this connection for brokers.

MetLife announced that Mark Weinberger has been elected to its board of directors. Weinberger is former global chairman and chief executive officer (CEO) of EY. Weinberger also has extensive government experience, including as Assistant Secretary of the U. S. Department of the Treasury in the administration of President George W. Bush. With the addition of Weinberger, the MetLife board will be comprised of 13 directors, 12 of whom are independent.

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