Deals and People July 17, 2015

Retirement Industry People Moves

Deana Calvelli joins Lockton; Brett Dutton comes to PNC Institutional Asset Management; Dave Anders & Associates affiliates with PlanMember Securities Corporation.
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Lockton has opened a new retirement practice in its Philadelphia office, with Deana Calvelli as vice president of retirement services for the firm’s Northeast region. The practice will advise clients on 401(k) and other retirement plans.

Calvelli is responsible for overseeing the retirement practice, and serving clients in the areas of fiduciary governance, financial wellness and retirement outcomes, administration oversight, and investment selection and monitoring.

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Calvelli brings more than 25 years of experience in the retirement services sector to Lockton. She held strategic roles at Buck Consultants and Wells Fargo and, most recently, operated her own consulting firm, Calvelli Consulting.

Calvelli holds a bachelor’s degree in economics from Duke University, as well as designations as a Certified Employee Benefits Specialist and an Accredited Investment Fiduciary (AIF). She maintains FINRA Series 7, 63, and 65 licenses. She is also a member of the Forum of Executive Women and a LEADERSHIP Philadelphia Fellow.

NEXT: Brett Dutton comes to PNC Institutional Asset Management.

Brett Dutton has joined PNC Institutional Asset Management (IAM) as an asset liability solutions specialist. In his new role, he works with the IAM team to determine product suitability for customers and prospects, and educates market teams and other bank partners on asset liability management services. His areas of focus include liability driven investing (LDI) for pensions and dynamic portfolio analysis for endowments and foundations. He reports to Debbie Kolsovsky, managing director, PNC Institutional Advisory Solutions.

Dutton, who is based in Columbus, Indiana, previously was a fixed-income analyst and actuary for Reams Asset Management, specializing in consulting on pension risk and LDI strategies. Before Reams, Dutton held positions in the actuarial field with the Ohio Public Employees Retirement System and Mercer in Columbus, Ohio.  

Dutton holds a bachelor's degree in mathematics from Grove City College, graduating first in his class, and a master’s degree in music from Pennsylvania State University. He is a Fellow of the Society of Actuaries, an enrolled actuary, and holds the Chartered Financial Analyst (CFA) designation.

NEXT: Dave Anders affiliates with PlanMember Securities Corporation.

Dave Anders of Dave Anders & Associates in New Smyrna Beach, Florida, has affiliated with PlanMember Securities Corporation as a PlanMember Financial Center. The firm provides retirement investment planning and financial education opportunities for educators and employees of nonprofits in Daytona Beach and Central Florida.

Dave Anders & Associates has more than 25 years of experience in financial planning, and has more than $125 million under management. The firm has spent the past eight years as PlanMember representatives helping their personal clients as well as school districts and nonprofits.

PlanMember, a broker/dealer and investment adviser, with a reported $8 billion in assets, specializes in the fee-based 403(b), 457(b) and 401(k) marketplace.

Investing July 17, 2015

Expect at Least $1T Demand for Custom Investments

The market for investment services devised to meet specific institutional client objectives will grow by more than $1 trillion over the next five years, predicts global analytics firm Cerulli Associates.
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The market for investment services devised to meet specific institutional client objectives will grow by more than $1 trillion over the next five years, predicts global analytics firm Cerulli Associates.

Custom solutions assets have more than doubled since 2010, and asset growth is projected to be substantial, points out Alexi Maravel, associate director at Cerulli Associates, with assets under management forecast to approach $3 trillion by 2020. “The substantial growth in assets from a relatively low base is a consistent theme in conversations we’ve had with institutions and their service providers,” he says.

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“Institutional Custom Solutions 2015: The Drive Towards Objectives-Based Solutions” examines how and why asset managers, investment consultants and other firms are spending millions to build the resources necessary to provide investment strategies more tailored to the unique needs of institutions.

The report defines the U.S. market for custom solutions and analyzes the growth of the various functions that comprise custom solutions, including multi-asset-class solutions (MACS), outsourced chief investment officer (OCIO), liability driven investing (LDI), and pension risk transfer (PRT)/defined benefit plan resolution transactions.

“For such an ill-defined discipline, custom solutions have the potential to upend decades-old practices of asset managers and investment consultants used in assisting institutional investors in meeting their goals,” Maravel says.

Respondents to Cerulli’s proprietary survey report more than 58% growth in custom solutions client assets during the past year, as well as the winning of an average of 13.4 solutions mandates during the same time period, according to Maravel. Given these figures, it is not surprising that firms overseeing custom solutions assets today are so bullish about the future, he says.

More information about “Institutional Custom Solutions 2015: The Drive Towards Objectives-Based Institutional Solutions,” including how to purchase, is at Cerulli’s site.

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