Retirement Industry People Moves

TRA Acquires Retirement Solutions Firm

The Retirement Advantage, Inc. (TRA) has acquired Garden Ridge, Texas based McCaw & Salesberry Retirement Solutions, LLC.

“We are very excited about the McCaw & Salesberry team joining the TRA family,” says TRA President, Matt Schoneman. “Our combined resources and capabilities position us to continue providing clients with superior administrative and consulting services. This transaction is an excellent strategic fit and directly aligns with TRA’s long-term plans for growth and scale in the retirement plan market.”

“TRA certainly appreciates the intricacies of structuring an agreement of this nature. Having already worked closely with Matt and the TRA team, I am confident that the acquisition will allow us to continue to support our clients in the manner they have come to expect,” says John McCaw, president of McCaw & Salesberry Retirement Solutions, LLC. “TRA provides the level of service, technology and ongoing enhancements that plan sponsors and advisors deserve in this day and age.”

“We are proud of our more than 35-year history serving the retirement plan needs of the Texas business community. We recognized that our next step was to join with a firm that would allow us to continue delivering outstanding client service with an expanded suite of offerings,” says Laurien Salesberry, partner of McCaw & Salesberry. “TRA is well known in the third-party administration circles and complements our client service approach very well. We are confident that we will be continuing the high level of service and expertise that we have always provided our clients.”

“TRA continues to build and deliver a comprehensive spectrum of services,” says Jeff Schreiber, vice president of Distribution at TRA. “We continuously look to expand our array of innovative solutions, always seeking to provide demonstrable value to our clients and their advisors. We look forward to working with the McCaw & Salesberry team going forward.”

Northern Trust Lengthens Partnership with Driehaus

Northern Trust has extended its relationship with Driehaus Capital Management and its affiliated family of mutual funds. Through this expanded relationship, Northern Trust will provide fund accounting, fund administration, regulatory administration, transfer agency and global custody services to the Driehaus Mutual Funds.   

Northern Trust was appointed in 2009 to provide global custody and related services to Driehaus entities, including the Driehaus Mutual Funds and The Richard H. Driehaus Foundation.

“The top-to-bottom professionalism and industry expertise of the Northern Trust team allowed us to successfully consolidate multiple service provider relationships into a single provider model. Through the combination of administration, fund accounting, transfer agency and custody with Northern Trust, we were able to reduce operational risk and further scale expenses to the benefit of our shareholders,” says Bob Kurinsky, chief operating & financial officer of Driehaus Capital Management and treasurer of the Driehaus Mutual Funds.

“We appreciate our long-standing relationship with Driehaus and look forward to continuing to partner with them to help achieve their strategic goals,” says Ryan Burns, head of Global Fund Services, Americas at Northern Trust. “As a fund services provider, we support the asset manager’s whole office by delivering scale, efficiency, and flexibility across the investment lifecycle. Our aim is to continually build on our support, and to grow along with our clients.” 

FAR Joins Stanford Center on Longevity Corporate Affiliate Program

Finance of America Reverse LLC (FAR) has joined the Corporate Affiliate Program of the Stanford Center on Longevity (SCL).

As a new Corporate Affiliate Program member, FAR will support research that helps retirees and pre-retirees more effectively plan for retirement. This membership extends from FAR’s mission to help address the retirement crisis in the U.S. and provide solutions that can bridge the funding gap many Americans face in retirement. 

“We share a common goal with the Stanford Center on Longevity – ensuring that individuals are equipped with the right tools that they need to live their best lives in retirement. In fact, we believe that education is one of the most important tools people need to achieve financial wellness and longevity,” says Kristen Sieffert, president of FAR. “We are proud to support SCL’s work and, at the same time, build on FAR’s commitment to ensure long-term, positive outcomes for our borrowers.” 

Sieffert adds, “I’m confident that SCL’s insights will resonate with our customers and also help inform our thinking as we continue to bring innovative products to market that solve for the retirement challenges encountered by a growing number of individuals.”  

As part of its membership, FAR employees will receive virtual briefings on SCL’s research and how it applies to FAR’s customer base. 

“We welcome and foster engagement with industry collaborators to solve important problems of aging,” says Martha Deevy, SCL associate director and senior research scholar, “and we welcome FAR to our group of collaborators, interested in investigating how people can live long, healthy, financially secure lives.”