Deals and People April 15, 2025

Financial Finesse Appoints New President

Todd Lacey will lead the financial wellness platform’s development amid the growing demand for personalized coaching solutions.

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Todd Lacey

Financial Finesse announced the appointment of Todd Lacey as president, slated to play a “critical role” in the financial wellness platform’s expansion and in the company’s plans to meet the growing demand for personalized financial coaching solutions.

Lacey’s appointment is planned to allow CEO Liz Davidson to focus more on the company’s vision and strategic direction, dedicating her time to innovations, partnerships, investments and acquisitions, according to the announcement.

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Lacey previously served as the chief revenue officer at Stadion Money Management; executive vice president of investments and retirement strategy and corporate development for Transamerica; and founder and president of the Klarity Group. He brings expertise in business development, scaling operations and “leading high performing teams.”

“My goal is to help take Financial Finesse to the next level—scaling the business in a way that expands our reach while enhancing the personalized, high-impact coaching we’re known for,” Lacey says.

With nearly three decades of experience in retirement and benefits, Lacey says he will focus on expanding Financial Finesse’s sales and business development efforts and building its infrastructure to meet the growing demand.

“It’s important to me that we grow with intention—making sure our teams stay aligned with our mission to increase our impact in changing users’ financial lives and delivering measurable ROI to our clients and partners,” he says.

Davidson says Lacey’s appointment comes at a “pivotal moment for Financial Finesse.”

“Demand for financial coaching is rising rapidly, and more companies are recognizing its value—not just for employee well-being, but for overall organizational success,” she says. “[Lacey] brings the expertise we need to scale our impact while strengthening the quality of our services.”

Davidson adds that she is excited to “return to her entrepreneurial roots” and continue working on the company’s artificial intelligence-based financial coaching solutions to motivate employees to take action to improve their finances.

Financial Finesse’s AI coach, “Aimee,” is backed by human planners and 25 years of live coaching experience. According to the company, Aimee provides employees with a unique financial wellness score based on data connected to their account, as well as a personalized action plan to help them achieve their financial goals.

Financial Finesse also recently partnered with workplace emergency savings account provider SecureSave to help users more seamlessly sign up for emergency savings accounts and view their savings progress in real time.

Compliance April 15, 2025

5th Circuit Grants DOL 60 More Days on Fiduciary Rule Lawsuit

The Department of Labor will have more time to decide its next steps in litigation against the Biden-era Retirement Security Rule.

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U.S. Circuit Judge Catharina Haynes, of the U.S. 5th Circuit Court of Appeals, granted the Department of Labor’s request for another 60 days to consider its next steps in two court cases challenging the department’s 2024 Retirement Security Rule.

On Tuesday, Haynes granted the DOL’s unopposed motion to extend the existing abeyance for an additional 60 days to June 16, 2025.

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The DOL sought an additional delay, in a motion filed on Monday, due to the change in presidential administration and the time required for new DOL leadership to become familiar with issues presented by the litigation.

The DOL had previously requested a stay in February, which was set to expire on Tuesday. At that time, Secretary of Labor Lori Chavez-DeRemer’s nomination was still under consideration; she has since been confirmed.

The Retirement Security Rule, or the “fiduciary rule,” proposed in April 2024 under former President Joe Biden, sought to amend the test for determining when an individual falls within the statutory definition of a “fiduciary” to an Employee Retirement Income Security Act plan based on “rendering of investment advice for a fee or other compensation, direct or indirect, with respect to any moneys or other property of such plan.”

The rule was scheduled to take effect on September 23, 2024, but hit legal roadblocks in the form of complaints filed by industry firms and member organizations.

The U.S. District Court for the Northern District of Texas put a national stay on the rule in a July 26, 2024, opinion in American Council of Life Insurers v. DOL. One day prior to that ruling, the U.S. District Court for the Eastern District of Texas had also granted a stay in a separate case, Federation of Americans for Consumer Choice Inc. et al. v. DOL et al. 

Both lawsuits sought to block the rule, which required “trusted investment advice providers” and financial institutions working with them to operate as fiduciaries in most cases when advising on retirement plan design, annuity sales and individual retirement account rollovers.

Plaintiffs have argued in both cases that the DOL’s rule exceeded its authority under federal law, is “arbitrary and capricious” and has the “same legal defects” as the 2016 version of the rule that was eventually struck down by the 5th Circuit.

The extension granted this week gives the DOL more time to consider how to reply to appeals in the two cases, which have been consolidated.

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