RSI In The News

RolloverSystems Bolsters Leadership Team with Addition of COO, CMO

Charlotte, NC – RolloverSystems Inc. (RSI), a retirement plan optimization specialist that helps plan sponsors manage fiduciary responsibility and reduce administrative burden and excess costs, today announced that two veteran industry leaders have joined the firm in key roles.

Dan Wright, who has more than 20 years experience in the broker dealer, mutual fund, investment management and retirement services industries, will assume the role of chief operating officer. And Jim Langenwalter, who has a 26-year track record of developing and marketing technology-based business models in the investment services and banking industries, will take on the job of chief marketing officer.

"The addition of Dan and Jim to our team brings a wealth of experience at a time when we are growing and enhancing our services for sponsors and participants,” said Spencer Williams, CEO of RolloverSystems. “Dan will help us to further strengthen our already-solid back-office operations, customer service and record-keeping. And Jim will take the lead in expanding our market reach, developing new products and improving our participant communication efforts."

The appointments come as the demand for RSI’s services is growing among plan sponsors who increasingly face potentially serious gaps in plan performance. A rising number of low-balance and terminated accounts -- a trend fueled by the mobility of the workforce and exacerbated by the growing popularity of automatic enrollment -- are creating costly inefficiencies and time-consuming administrative headaches for sponsors. At the same time, sponsors are continually faced with the challenge of helping participants stay invested in retirement even as they exit the plan.

RolloverSystems helps sponsors handle these issues with a three-point strategy for:

• Rolling in the assets of new participants, which can increase the plan’s average account balance;
• Rolling out the assets of participants who are no longer employees, have low account balances, and/or can no longer be located, thereby reducing plan costs, eliminating headaches and managing fiduciary risk; and
li>Rolling over the assets of participants who are leaving the plan by providing them with an independent, third-party advisor who will guide them throughout the rollover process and provide them with a choice of high-quality, low-cost IRAs.

"Plan sponsors benefit from streamlined administration, fewer headaches, higher average account balances, real plan cost savings, and the assurance that they are doing well by their participants," said Williams.

Wright and Langenwalter will enhance RSI’s already-robust abilities with their deep understanding of the retirement plan space and their expertise in technology.

Prior to joining RolloverSystems, Wright was a partner with Hobbs/Madison Inc., where he specialized in business and technology strategy, design and operations management. Previously Wright held senior level positions at Pioneer Investments, Persumma Financial, Babson Capital, and Liberty Financial Companies.

Langenwalter joins RolloverSystems from Mid-Market America, Inc., a firm he founded that wholly held a subsidiary, SaveSimply Inc., which provided an internet-based IRA and investment products platform to profitably deliver fully advised investment services to small balance investors. RolloverSystems acquired the SaveSimply technology platform in 2007.

Prior to founding Mid-Market America, Langenwalter held senior positions in large financial services and technology services companies, such as Mellon Bank, Federated Investors, Carnegie Group, SMS Consulting, and the Mellon Bank Datacenter.