Kravitz, a national provider of cash balance retirement plans, announced the opening of a Chicago office to meet the growing demand for cash balance retirement plans throughout the Midwest region.
The firm says it already serves a large client base across the Midwest, so expanding to Chicago was an obvious next step from a growth and client service perspective. The firm shares figures suggesting the number of new cash balance plans “has been increasing more than 20% annually while the traditional 401(k) market remains flat.”
Kravitz tapped Chicago native and cash balance expert Steve Stone to lead the new office. Stone brings more than 15 years of retirement industry experience, including roles at John Hancock and J.P. Morgan. Most recently he worked for a large regional third-party administration firm.
NEXT: Stadion Hires Sales VP in New England
Stadion Money Management announced the hire of Chris Barrett as a regional vice president, with responsibility for retirement sales in New England and Northern New Jersey.
Stadion says Barrett is a retirement industry veteran who has more than 28 years of industry experience. Immediately prior to joining Stadion, he worked for Transamerica Retirement Services, where he was a divisional vice president responsible for managing the sales and marketing effort for defined contribution and defined benefit plans in the Northeast U.S.
Previously, he held senior sales and sales management roles with U. S. Trust, UBS, and MFS Investment Management.
Barrett received his bachelor’s degree in history from the University of Massachusetts, Dartmouth, and an M.B.A. from the Suffolk University Sawyer School of Management. He also holds the accredited retirement plan consultant (ARPC) designation from FINRA.
NEXT: Franklin Templeton adds fund manager
Franklin Templeton Investments hired James Macey as co-lead on the Franklin Allocation Funds and Franklin LifeSmart Retirement Target Funds.
Macey becomes a senior vice president and portfolio manager in the new role, and will maintain a focus on retirement solutions. He joins current co-lead managers Tom Nelson, senior vice president, director of investment solutions, and Tony Coffey, senior vice president, on the management team for the allocation and target-date funds.
With 15 years of investment industry experience, Macey was previously at Allianz Global Investors, where he was a co-lead manager for their target-date and retirement income portfolios. He was also a portfolio manager for Allianz’s multi-asset U.S. mutual funds and helped to operate target-risk, multi-asset real return and 529 college-savings plan funds.
Macey holds a master’s of science degree in astrophysics from University College London. He also holds chartered financial analyst, chartered alternative investment analyst and professional risk manager designations.
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