According to a press release, DST Retirement Solutions, LLC was formed by DST Systems, Inc. and Boston Financial Data Services, Inc. to “meet the needs of today’s defined contribution service providers.” DST Retirement Solutions, a wholly-owned subsidiary of DST Systems, combines DST’s TRAC technology solution with Boston Financial’s defined contribution full plan administration and recordkeeping unit.
Metcalfe has had senior positions at Wealth Management Systems, Inc. (WMSI) (see Wealth Management Systems, Inc. Appoints Metcalfe as CEO ), Mellon HR Solutions, Fidelity Investments, and Kwasha Lipton, among others. His contributions were highlighted in PLANSPONSOR’s 10th Anniversary issue (see Personalities: Jude Metcalfe). He joined Boston Financial in September 2007 to help grow that organization’s defined contribution services, according to the firm, which said his new objective is to “â€¦lead the single largest technology and servicing outsourcer in the industry, bringing to market the broadest array of servicing options for retirement plan providers in a single offering.”
“First and foremost, this move was done to help our clients continue to grow their participant base with innovative products and services,” said Metcalfe. “DST Retirement Solutions’ recordkeeping platform and plan administration services all in one organization leverages our combined strengths to meet clients’ current and future needs. As the marketplace continues to consolidate and outsourcing strategies change, plan providers can rest assured that our solution is flexible enough to meet their changing needs, enabling them to define their markets and develop products while controlling costs,” Metcalfe added.
According to the firm, financial service companies, such as mutual funds, banks, insurance companies and third party administrators, will benefit from their “flexible service model that utilizes an end-to-end technology solution and provides support for financial intermediaries.” Servicing nearly 4 million participants, DST Retirement Solutions supports any plan size and investment vehicle, according to the firm.