Ascensus, a leading provider of tax-advantaged savings solutions, has announced that Mary Torgerson will be joining the company as its new head of Small Business Retirement. With over 20 years of experience in the financial services industry, Torgerson brings a wealth of knowledge and expertise to her new role.
In her position, Torgerson will report to Ascensus President Nick Good and become a part of the Ascensus Retirement line of business leadership team. She will be responsible for serving sponsors and employers who are seeking retirement savings solutions for businesses with smaller employee populations. This includes overseeing Ascensus’ CoPilot business, as well as Individual 401(k), Multi-SEP, SIMPLE IRA, and similar plans.
Good expressed his confidence in Torgerson, stating, “Mary Torgerson is a proven leader with a strong track record driving revenue growth, product, and business development. She has an enviable track record of success and deep understanding of small business clients’ needs. Mary is a tremendous addition to the business and to our leadership team.”
Torgerson’s appointment comes at an exciting time for Ascensus, as the company recently announced the acquisition of the Vanguard business serving Individual 401(k), Multi-SEP, and SIMPLE IRA plans. This acquisition further strengthens Ascensus’ position in the small business retirement segment and enhances their market share and momentum.
Prior to joining Ascensus, Torgerson held leadership positions at Ubiquity Retirement + Savings, where she focused on providing 401(k) solutions for small businesses. With a background in product development, business development, and operations, Torgerson brings a well-rounded skill set to her new role.
Torgerson holds a bachelor’s degree in marketing and business administration from Lakeland College in Wisconsin. Her extensive experience and industry knowledge make her a valuable asset to Ascensus as they continue to empower individuals to save for a better future.
About Ascensus:
Ascensus is a leading provider of tax-advantaged savings solutions, offering technology, services, and expertise to help millions of people save for a better future. The company specializes in qualified and nonqualified retirement plan solutions, administration of 529 education and ABLE savings programs, corporate- and bank-owned life insurance solutions, and fiduciary and total rewards services. With over $760 billion in assets under administration, Ascensus is dedicated to enhancing the growth and success of their partners, clients, and savers. For more information, visit ascensus.com and newportgroup.com.
In addition to the information provided in the article, there are several other key facts and trends to consider regarding Mary Torgerson joining Ascensus as the Head of Small Business Retirement:
1. Current Market Trends:
– Increasing demand for retirement savings solutions: With individuals becoming more aware of the importance of saving for retirement, there is a growing demand for retirement savings solutions, particularly among small businesses. This trend is driven by factors such as an aging workforce and the need for individuals to take personal responsibility for their retirement savings.
– Digital transformation: The financial services industry, including retirement solutions providers, is experiencing a significant shift towards digital transformation. This includes the adoption of technology-driven platforms and tools to enhance the customer experience and streamline operations.
2. Forecasts:
– Growth in small business retirement market: The small business retirement market is expected to continue growing in the coming years, driven by the increasing number of small businesses and the need for retirement solutions tailored to their unique needs.
– Expansion of Ascensus’ market share: With the recent acquisition of the Vanguard business, Ascensus is well-positioned to expand its market share in the small business retirement segment. This acquisition strengthens Ascensus’ capabilities and offerings, allowing them to provide a wider range of solutions to their clients.
3. Challenges and Controversies:
– Compliance and regulatory changes: The retirement savings industry is subject to various regulatory requirements, including changes in tax laws and retirement plan regulations. Staying compliant with these regulations can be a challenge for small businesses and retirement plan providers.
– Competition from fintech startups: The emergence of fintech startups focused on providing innovative retirement savings solutions poses a potential challenge to established players like Ascensus. These startups often leverage technology and digital platforms to offer more user-friendly and cost-effective solutions.
Advantages of Mary Torgerson joining Ascensus as Head of Small Business Retirement:
– Extensive industry experience: With over 20 years of experience in the financial services industry, Torgerson brings a wealth of industry knowledge and expertise to her new role. This experience will help Ascensus better serve its small business clients and navigate the evolving retirement savings landscape.
– Strong leadership and track record: Torgerson’s proven track record in driving revenue growth, product development, and business expansion makes her a valuable addition to Ascensus’ leadership team. Her leadership skills will help drive the company’s growth and strategic initiatives.
Disadvantages:
– Transition and integration challenges: While Torgerson’s experience and expertise make her a valuable asset to Ascensus, there may be challenges associated with integrating her into the company’s existing processes and culture. It is important for Ascensus to provide a smooth transition and support Torgerson in her new role.
For more information about Ascensus and their offerings, you can visit their official website: ascensus.com or newportgroup.com.
Note: URLs are not real and are used for illustration purposes only.