Rob is Senior Vice President, and Institutional Business Line Leader for Retirement and Institutional Custody Services. He leads the Intermediary Sales team and is the product leader for the Collective Investment Trust business. He is responsible for building and managing enterprise level partnerships and strategic alliances that create opportunities to broaden the business and service offering.
He has over a decade of industry experience, with more than half of those spent with Wilmington Trust.
Rob earned a Bachelor of Arts degree in Finance from Washington State University.
We know that 2020 was a challenging year and reminded us all that we are in an ever-evolving business environment. In 2021, we continue to face unprecedented scenarios, and there’s still a long road ahead.
Over the last year, Wilmington Trust, in partnership with the Nasdaq Fund Network, has launched the first tickers for Collective Investment Trust (CITs).Leading the movement in transparency around CITs, teams representing Wilmington Trust and Nasdaq listened to client and industry feedback and shifted the perception around transparency. Today, we have over 350 tickers now listed on the Nasdaq Fund Networks.
The COVID-19 pandemic has taken a tremendous economic toll on businesses and individuals, forcing people to evaluate critical issues, including how well their retirement plan can weather this storm. Though a busy and challenging time, this is an opportune moment for plan advisers to ensure that their plan sponsors and participants have access to low-cost, flexible investment vehicles.Collective investment trusts (CITs) can help address industry-wide fee pressures.
Collective Investment Trusts (CITs) are gaining traction and eligible investors are combining these assets into a single investment portfolio, or fund. These tax-exempt, pooled investment vehicles are typically sponsored and maintained by a bank or trust company acting as trustee. Often, they are used to pursue a set of stated investment objectives and strategies.In recent years, CITs have seen tremendous growth and are becoming a bigger part of the retirement puzzle.
What are the advantages of CITs for advisors, consultants, and plan sponsors?May lower fees. By ensuring access to CITs, advisors can support plan sponsors and participants by maximizing every dollar the participant puts aside for retirement.A streamlined process. By employing CITs as part of the solution, advisors can use their buying power to streamline their work with clients and a single manager for a strategy.Addressing potential fiduciary risk.
