West Regional Vice President
As Regional Vice President for PenChecks, Tom Drosky is responsible for new business development and relationship management. He has more than 35 years’ experience in the financial services industry, including 20 years of banking experience in the areas of retirement services and wealth management. Prior to joining PenChecks, Drosky worked for several different financial institutions, including 12 years with CNA Trust as Vice President of Administration, and 11 years with First Bank as Regional Vice President and Trust Officer, where he was responsible for retirement services. Tom currently serves on the board of directors of the Orange County California Western Pension and Benefit Council, and teaches finance classes as an adjunct professor at the University of Phoenix. He holds a B.A. degree in business administration and an M.B.A. in financial management from National University.
From Hawaii and Alaska to Colorado, New Mexico and all states in between, Tom covers a lot of territory for PenChecks Trust. With more than 35 years’ experience in the financial services industry, including 20 years in banking, he also brings a wealth of knowledge to the process of helping companies solve their retirement distribution problems.
Tom first encountered PenChecks Trust while working for a previous employer that offered employee benefit retirement plan services. Impressed with the knowledge and entrepreneurial drive of company President Peter Preovolos, he was also drawn to the company’s products and services, as well as its simple but powerful business model.
“At PenChecks Trust, we do what other companies have to do but don’t like doing,” he says. “And we do it faster and at a lower cost. By streamlining our processes and creating economies of scale, we can provide our services for less than most companies can do it themselves, while taking tedious, time-consuming tasks of their plate.”
A Consultative Approach
Having taught business and finance at several universities, Tom strongly supports the consultative approach employed by the PenChecks Trust sales team.
“We serve many different market niches, from plan sponsors to financial institutions, TPAs and more,” says Tom. “To help solve their unique problems, we have to take the time to learn about their businesses. The first thing I do when meeting with potential clients is to learn all I can about what they do and how they do it. I also ask what they don’t like about what they’re doing, and what they want to improve about their distribution processing. Then we explore which PenChecks Trust services could facilitate making those improvements.”
Tom also advises existing clients on the impact on regulatory and other industry changes. Whenever the Department of Labor, IRS or Pension Benefit Guarantee Corporation introduces new regulatory guidelines, he works with clients to identify the impact to their businesses and come up with solutions to accommodate their needs.
For example, when the IRS eliminated their 8109 tax payment coupons, Tom helped clients determine which PenChecks Trust distribution services were a good fit for their distribution processes. When the IRS and Social Security Administration eliminated their letter-forwarding programs for missing participants, he showed how PenChecks Trusts’ Missing Participant search services could provide a cost-effective solution.
“When the government passes new legislation that affects our industry, we don’t wait around to see what everyone else does,” adds Tom. “Instead, we proactively find or create solutions to help our clients manage the change. PenChecks Trust also has the best customer service of any company I have worked for. I regularly receive positive feedback from clients regarding our online technologies and our support staff.”
Until recently, Tom filled his time away from the job by getting actively involved in coaching and watching his children’s sport activities. Since all three have headed off to college, he now enjoys traipsing around golf courses chasing a little white ball that doesn’t always behave like he wants it to.
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
> Masood Roashan / Director of IT
> Kevin Smallen / Vice President of Information Technology
> Wendy Henderson / Vice President / Director of Operations
> Scott Okrasinski / Vice President/National Sales Director
> Tom Drosky / West Regional Vice President
> Lydia Jun / Northeast Regional Director
> Mark Russell / Mid Atlantic Regional Director