Retirement services provider Definiti announced the additions of former Sen. Patrick Toomey and former AssetMark CEO Ronald Cordes to its board of managers Wednesday.
The two high-profile board appointments follow the recent investment in Definiti by private equity player Lovell Minnick Partners, which closed March 16.
Toomey represented Pennsylvania in the Senate from 2011 to 2023. He was the ranking member of the Senate Banking Committee from 2021 to 2023 and previously chaired the Subcommittee on Financial Institutions and Consumer Protection. Prior to entering the Senate, Toomey served in the House of Representatives from 1999 to 2005, where he was a member of the House Financial Services and Budget Committees.
Cordes co-founded and served as CEO and executive co-chairman of managed account platform provider AssetMark, which is also a former portfolio company of Lovell Minnick. He co-authored “The Art of Investing.” Cordes is currently a member of Lovell Minnick's advisory council.
“Building the right team of leaders and advisors has directly impacted Definiti’s ability to offer best-in-class services to our valued customer base,” Tom Gaillard, CEO of Definiti, said in a statement. “We’re thrilled to welcome Pat and Ron to the Board and look forward to working with them to expand our distribution partners and product suite and continue our legacy of providing effective and unique retirement solutions to our clients.”
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
