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Morgan Stanley Names New Retirement Chief: Recruiting Roundup

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Morgan Stanley has hired Anthony Bunnell to serve as its head of Retirement. Bunnell comes from Goldman Sachs, where he led the digital efforts in Private Wealth Management after the firm bought Honest Dollar, a retirement savings platform he co-founded in 2014. 

Earlier, Bunnell spent 12 years working on retirement products at services at Prudential, Mercer, and JP Morgan “where he drove cultural change in the 401(k) business to an advisor-centric distribution model,” according to Brian McDonald, head of Morgan Stanley at Work & Digital Solutions.

Morgan Stanley’s Retirement group is st to focus on bringing “a new digital experience to the retirement model that builds brand awareness for Morgan Stanley with our plan sponsors and their participants,” he explained in a memo.

“The team will also work to evolve our rollover strategy and ensure our retirement offering is deeply connected to our Financial Wellness model as participants seek more avenues to help them meet their financial goals,” according to McDonald.

Mercer News

RIA Mercer Global Advisors has acquired Regent Wealth Management Group, an RIA located in Woodbridge, Connecticut, working with about $300 million in client assets.

With the deal, Mercer has 11 branches and $2.7 billion in assets in the Northeast, including three locations in Connecticut. Overall, Mercer has 43 branches nationwide and about $16.5 billion in assets.

Mercer said recently that it has signed the United Nations’ Principles for Responsible Investing (PRI) and will adhere to “its stringent principles and provide detailed annual reporting.”

“We’re proud to be among the first independent wealth advisory firms in the United States to become a signatory to the PRI,” said CEO Dave Welling, in a statement. “Since our founding we’ve worked hard to become an industry leader and incorporate best practices into everything that we do, especially when it comes to managing our clients’ wealth.”

LPL Recruiting

LPL Financial says financial advisors Shawn Peroff and Matt Tollett of Spokane, Washington-based Inland Empire Financial have joined its hybrid platform. 

The duo — who worked together at Merrill Lynch more than 20 years ago — have about $150 million of combined assets and joins from Raymond James Financial Services and Wells Fargo, respectively. 

“I am excited to be a part of a team again,” according to Peroff. “Collaborating with Matt and having the support of LPL is an opportunity to improve how we work with clients and position our firm for growth.”

Tollett added in a statement, “We believe LPL’s RIA platform has the legs to get our firm to where we want it to be. And with access to their technology and resources, we believe we can create an environment where we have greater flexibility and more efficiency, helping us keep our focus on our clients and planning for their futures.”

Other Developments 

Chalice Financial Network is rolling out a new cybersecurity protection package for its members, so independent advisors can “identify cyber threats and mitigate both the risk of and potential damage from cyber-attacks in a cost-effective way.:

The platform includes software that closes vulnerabilities and prevents attacks and cyber insurance that provides coverage in the event of an attack and solutions from Bryce Point Insurance Agency and Coalition.

In addition, Chalice members will receive a free cyber-risk assessment with an option to buy affordable cybersecurity insurance, along with cyber software and compliance support.

“Cybersecurity is fast becoming a top priority in the industry that no advisor can afford to ignore,” according to Chalice Chairman and CEO Keith Gregg.

With regulators “focused intently on punishing firms with lapses and the Financial Services Institute recently forming a Cybersecurity Taskforce, our members needed a reliable and trusted resource that confronts the realities of their entire business, which ultimately will enable them to best serve their clients,” Gregg explained. 


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