NextCapital co-founder Rob Foregger recently stepped back from the company.
Foregger, who led the establishment of the fintech firm in 2013, left his day-to-day responsibilities at the company in May but is still a shareholder, he confirmed via LinkedIn.
“I am still a senior adviser, cheerleader and significant shareholder,” he said. “I am taking a little sabbatical, having co-founded three companies over the past two decades. In addition to spending more time with my family, I intend to do some advisory/board level work, as well as help some younger fintech companies.”
A NextCapital company spokesperson also confirmed the move.
The company, which has raised more than $82 million in funding since 2014, according to Crunchbase, has numerous deals for managed account services with financial firms, including Resources Investment Advisors, Ascensus, Fisher Investments, Franklin Templeton, John Hancock, MassMutual, Newport Retirement Services, Russell Investments, State Street Global Advisors and Transamerica.
In addition to his work at NextCapital, Foregger is also a co-founder of Personal Capital, which last year was acquired by Empower Retirement.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
