News

FuturePlan Marks Major 2022 Growth with Four Expanded Sales Territories and Ten Strategic New Hires

FuturePlan by Ascensus—a leading national retirement third-party administrator (TPA) that specializes in the delivery of customized retirement plan consulting and administration services—announced a major expansion of the firm’s national footprint with four new sales territories and ten strategic new hires across the country. Both expansion moves significantly strengthen the consultative, expertise-driven sales model that delivers a competitive advantage to advisors.  

The following new FuturePlan sales territories were developed and staffed to serve high-demand areas with notable small to mid-size business growth trends:

  • Central/Northern New York and Metro NYC, led by regional vice president Ed Meade
  • Michigan, led by regional vice president Tricia Bailey
  • Southeastern New York and Northern New Jersey, led by regional vice president Charles Rosenberg
  • Southern Florida, led by regional vice president Jacki Betz

“FuturePlan is a national brain trust, bringing together a wide range of specialized expertise. We needed an expanded sales model to deliver all the advantages to our advisor partners,” said Kasey Price, President of FuturePlan. “We also added eight new internal sales partners to support our rapid growth and enhance our advisor-centric strategy. Every member of our sales organization has a high level of technical and plan design knowledge.”

Price, who was promoted to the role of President earlier this month after previously holding the role of Head of Sales, will continue guiding growth of the overall sales organization while recruitment is ongoing. The organization’s fast-growing network of institutional partnerships is another driving factor behind the expanded sales territories and staffing model—the organization doubled the size of the Institutional Sales Team this year.

In the past year, FuturePlan launched three major institutional partnership products and expanded internal teams dedicated to 3(16) and Cash Balance Centers of Excellence. “FuturePlan is in a unique position for developing institutional product and service offerings,” said Carlo Guerrera, Head of Institutional Sales. “Our industry-leading size, scope and scale are well matched to serve major recordkeeping and  distribution partners alike.” Both Price and Guerrera said they’re anticipating even more growth in institutional partnership opportunities following the Newport merger with Ascensus earlier this year, as unification expands organization-wide capabilities in many key service areas.

Other specialty practice areas driving growth include Nonqualified Deferred Compensation Plans and Prevailing Wage Plans, both of which have experienced unprecedented market interest in response to legislative changes and the challenging labor market.

With more product and service innovation in the 2022 pipeline and a new advisor portal under development, the firm is anticipating new sales territories and an increased focus on talent acquisition and retention in the year ahead. “With the backing of Ascensus and the caliber of acquired TPA firms, we now have a tremendous opportunity to revolutionize the TPA sales and service model on national level,” Price commented, “We’re just getting started—our team is incredibly motivated.

About FuturePlan by Ascensus
FuturePlan is a leading national TPA for America’s advisors and recordkeepers, empowering them to deliver better outcomes for savers. We combine highly responsive, personalized service with the unmatched strength and security of a national leader. FuturePlan’s experienced team of experts supports more than 45,000 plan sponsors with more than 1.9 million participants and more than $104 billion in assets under administration. For more information, visit futureplan.com.

About Ascensus
Ascensus is a market-leading enabler of tax-advantaged savings—providing technology, services, and expertise that help more than 15 million people save for retirement, education, and healthcare. We are a premier savings program service provider, third-party administrator, and government savings facilitator. Our platforms, industry knowledge, and data-based insights enhance the growth and success of our partners, their clients, and savers through co-branded, private-labeled, and governmental partnerships.

Ascensus offers comprehensive qualified and non-qualified retirement plan solutions, third-party retirement plan administration, 529 education and ABLE savings program administration, health savings and COBRA administration, corporate- and bank-owned life insurance solutions, and fiduciary and total rewards services.

The company’s brands include Ascensus; Newport, an Ascensus company; PAi, an Ascensus company; and FuturePlan by Ascensus. Ascensus has more than $706 billion in assets under administration and employs more than 5,600 associates as of June 30, 2022.

For more information, visit ascensus.com and newportgroup.com.

Regulatory Updates

IRS Releases Draft Forms 1099-R and 5498 for 2023 Tax Year

IRS Releases Draft Forms 1099-R and 5498 for 2023 Tax Year

The IRS has posted draft versions of Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., and Form 5498, IRA Contribution Information for tax year 2023.