Retirement Industry People Moves

WEX Health and dailyVest Form Collaboration for HSA Consumers

WEX Health has selected dailyVest to further enhance the investment capabilities and user experience for WEX Health consumers utilizing health savings account (HSA) investment tools.

The new partnership leverages dailyVest’s core investment personalization and performance calculation engine known as PIP for producing interactive, real-time investment and personal rate of return content and visualization for WEX Health’s platform. The addition of the new portal technology can provide employers and benefits administrators access to improved data analytics and customization tools that can create a more seamless, integrated experience for consumers.

According to the Devenir Research 2017 Midyear HSA Market Report, the number of HSA accounts surpassed 21 million, holding about $42.7 billion in assets, from June 2016 to June 2017. The report also states that HSA investments have seen substantial growth—with assets reaching an estimated $6.8 billion in June 2017, up 44% year over year. With HSA investing on the rise, WEX Health hopes to enhance consumer engagement within this growing space by partnering with dailyVest.

“The dailyVest platform aligns nicely with the user experience and the team brings a wealth of expertise to the table. They have the ability to present important financial information to consumers in a way that is impactful, yet easy to understand,” says Matt Dallahan, senior vice president of Strategy and Development at WEX Health. “By providing user-friendly visualizations, we can now offer an experience that appeals to both novice and experienced investors.”

FIA Promotes Consultants and Analysts Within Firm

Fiduciary Investment Advisors, LLC (FIA) has announced the following promotions within the firm.

Kevin O’Brien, has been named a partner and senior consultant of the firm. He most recently served as a senior consultant after joining FIA in 2011. O’Brien is a member of FIA’s Investment Committee and the Discretionary Investment Subcommittee. His experience includes advising institutional clients and assisting them with asset allocation, investment manager selection, and pension plan issues such as de-risking strategies and plan terminations.

Peter Nadeau, has been named a senior consultant at the firm. He most recently served as a consultant after joining FIA in 2014. Nadeau is a member of FIA’s Employee Communication and Education Committee. His focus is on defined contribution (DC) retirement plans in both the corporate and tax-exempt markets.

Scott Boulton has been named a consultant and research analyst at the firm. He most recently served as a research analyst and associate consultant after joining FIA in 2014. He is a member of the defined contribution team, advising both ERISA (Employee Retirement Income Security Act) and non-ERISA defined contribution plans. He is a member of FIA’s Employee Communication and Education Committee.

Andrea McAndrew, has been named a consultant and research analyst at the firm. She most recently served as a research analyst after joining FIA in 2015. McAndrew has over 15 years of investment experience, with a focus on alternative investments. She is a member of the CFA Institute and the Hartford CFA Society.

Dennis Scarpa, has been named a consultant and research analyst at the firm. He most recently served as a research analyst and associate consultant after joining FIA in 2013. Scarpa is a member of the defined contribution team and services clients including for-profit corporations, colleges and universities, and healthcare organizations. He is a member of the CFA Institute and the Hartford CFA Society.

Matthew Pranaitis has been named a research analyst at the firm. He most recently served as an associate research analyst after joining FIA in 2016. Matt is a member of the client-focused research group. He interned at FIA for two summers before joining the firm full-time.