Vice President of Strategic Development
Spiro Preovolos joined PenChecks in March of 2002, holding several different positions including Director of Operations and Director of Sales and Marketing. In his current role as Vice President of Strategic Development he is responsible for overseeing all marketing operations for the PenChecks family of companies, primary vendor management and internal strategic initiatives and planning. Spiro focuses on developing strategic level integrations, partnerships and service offerings that span sales, marketing, IT and operations. He oversees the planning and production of all marketing and promotional materials, including print collateral, advertising, and the company’s online presence. Prior to joining PenChecks, Spiro served as a special agent and financial representative for Northwestern Mutual in Los Angeles, selling life, health and disability insurance. He is an Accredited Pension Representative (APR), a designation bestowed by the National Institute of Pension Administrators, and holds a B.A. in Philosophy from the University of Southern California.
A second-generation family member, Spiro began working in the family business at a fairly young age. In his 17 years with PenChecks Trust, he has held positions in almost every aspect of the business, from client services to operations to sales management, gaining a diverse and invaluable perspective on the company’s internal operations as well as the needs of its clients.
As Vice President of Business Development, Spiro oversees the marketing function, manages the company’s Default, Missing Participant and Traditional IRA account operations, and helps to develop strategic relationships that can improve internal efficiencies and external service capabilities to clients. But if you ask him to describe his job from a big picture perspective, he says it’s all about making life easier for PenChecks clients.
“In a nutshell, we resolve client headaches by taking care of things they don’t want to do themselves,” he says. ”Many of these tasks are tedious and time-consuming, such as filing 1099Rs and tax withholdings, but they’re all important. What sets us apart is that we manage them with great care and expertise. Our proprietary systems and processes enable us to perform these tasks faster, better and cheaper than our clients can do for themselves, and this allows them to leverage our efficiencies in the form of better service and solutions for their own clients.”
Keeping One Step Ahead
Over the years, Spiro has watched the retirement industry grow, evolve and constantly adapt to changing regulations and consumer needs. With the industry now consolidating on many fronts, consumers have fewer choices as many TPA firms merge, get bought out, or opt to leave the market. In response, Spiro sees his role as helping PenChecks Trust continue to develop new operating efficiencies while also offering innovative niche solutions to serve the market more effectively. He credits his father, company President and CEO Peter Preovolos with making innovation an integral part of the PenChecks Trust culture by constantly communicating the importance of developing creative solutions and staying responsive to changing customer needs. As a result, staff members really internalize their roles as genuine problem solvers who help people.
In particular, Spiro enjoys being part of a business that constantly stays one step ahead of the industry. PenChecks Trust was the first to introduce Missing Participant and Auto Rollover IRAs, and developed them into very effective mainstream products. PenChecks Trust developed and was offering these solutions long before the government eventually wrote legislation that not only validated its solutions but also mandated the approach in the marketplace. The company also began crafting uncashed checks and missing participant solutions at least 10 years before anyone else. Their approach is now regularly used by institutions to clean up problems that pose difficult and potentially significant legal risks.
“As a financial services company, we are heavily technology and process driven, which allows us to have a lean, streamlined business model,” says Spiro. “I also like the fact that we are known as a thought leader, and we work hard to produce content that adds value to our clients and others within the industry. But what I like best about working at PenChecks Trust is the opportunity to do things nobody else has done before, to create new products or services nobody else has created. It’s especially rewarding when clients thank us and tell us how much they enjoy not having to deal with the things we do for them now.”
A relatively new parent (a son age 3 and a daughter age 2), Spiro spends most of his free time playing with the kids and watching them grow. When he needs some “alone” time, he laces up his running shoes and hits the road for a brisk run. Spiro also enjoys reading, going out to the movies, and travel, both in the U.S. and abroad.
Meet the Team:
> Peter Preovolos, APA, RIA, AIFA, PPC / President and CEO
> Spiro Preovolos / Vice President, Business Development
> James Hensel, CPA, CVA, CFA / Chief Financial Officer
> Mike McWherter, JD / Chief Compliance Officer
> Kevin D. Smallen / Chief Information Officer
> Bryan Pruden, MBA / Chief Operating Officer
> Wendy Henderson / Vice President / Director of Operations
> Scott Okrasinski / Vice President/National Sales Director
> Steve Wagoner / Vice President of Institutional Sales
> Tom Drosky / West Regional Vice President
> Mark Russell / Eastern Regional Director
> Chip Davis / Southern Regional Director
> Paul Kociuruba / Central Regional Director