David Reich, a well-known executive in the retirement plan service industry, died Sunday.
Reich, 50, was national president of retirement services at Hub International. He suffered a heart attack while on a bike ride, according to a post on the National Association of Plan Advisors’ website.
“Our condolences go out to David’s family, and our thoughts and prayers are with them,” a Hub spokesperson said in an email. “We have acquired some of the strongest financial advisement firms in the country under David’s direction and at the appropriate time, we will address the leadership of the practice going forward.”
At Hub, Reich oversaw acquisitions of retirement-plan-focused advisory groups, including the 2019 deal to buy the then $40 billion RIA Global Retirement Partners, which was LPL Financial's largest retirement-focused branch.
Prior to joining Hub in 2017, Reich was head of Retirement Partners at LPL. He joined that firm in 2011 as chief operating officer of the Retirement Partners group and was promoted to head in 2014, according to his LinkedIn profile.
Prior to his work at LPL, Reich worked at Ameriprise Financial Services from 2004 to 2010, according to Finra’s BrokerCheck.
“Dave took over the reins at LPL retirement during a tough time after they bought and integrated NRP and did a great job,” Fred Barstein, founder of The Retirement Advisor University, said in an email. “He elevated Hub International from being a footnote among defined-contribution aggregators to a top-three player, with the acquisitions of GRP and Sheridan Road. He will be missed as a thoughtful leader in the DC industry and good friend.”
Reich's attention to his family was a defining characteristic, Dick Darian, partner at Wise Rhino Group, said in an email.
"He was such a dedicated and loving father to his six kids. It seemed like every conversation we had since he began working from home was interrupted at least once by one of them," Darian said. "Dave was always so patient, always taking the time to handle whatever situation that arose. Those are the moments I will remember most when I think of him."
A funeral service is being held Wednesday at El Camino Memorial Park in San Diego, according to an obituary posted by AM Israel Mortuary.
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