Vice President of Institutional Sales
As V.P. of Institutional Sales, Steve works to increase PenChecks Trust’s presence in the institutional space by developing strategic relationships with financial institutions such as, banks, trust companies, insurance companies, and other retirement platform providers. He also introduces institutional solutions, such as our Abandoned Plan/QTA and uncashed check services, to help these clients streamline operations and reduce fiduciary risk. A former Director of Sales for DST Systems, Inc., a leading provider of strategic advisory, technology, and operations outsourcing to the financial and healthcare industries, Steve has more than 20 years of financial services and retirement industry experience. While at DST, he managed the sales team while also helping retirement plan providers design and execute communication strategies for third-party administrators, advisors, plan sponsors and plan participants.
A former Registered Investment Advisor and Financial Planner, Steve brings a deep understanding of the needs of financial institutions to the PenChecks Trust team. He holds a Bachelor of Science degree from the University of New Hampshire, where he was a member of the UNH football team.
From broker (right out of college) to financial planner to Director of Sales for a strategic advisory firm, every step of Steve’s professional career has contributed to his broad understanding of financial and retirement markets. When PenChecks Trust decided to hire a senior sales executive dedicated to serving large, institutional accounts, Steve turned out to be a perfect fit.
“The transition to PenChecks Trust couldn’t have gone smoother,” says Steve. “My background gives me important insight into the challenges and issues our large institutional clients face. I have experience sitting on both sides of the table – the advisor and the service side. And in many cases I already have relationships with many of the people and institutions I call on. I also like the culture at PenChecks. Senior management gives you a lot of autonomy and responsibility and expects you to get the job done without the need for micro-management.”
In addition to his experience and expertise in the retirement plan space, Steve shares two important attributes with every member of the PenChecks Trust team – a problem-solving mindset and a strong customer service orientation.
“We solve many of the same problems for our big institutional clients that we do for smaller TPA firms – we make their lives easier by taking a lot of time-consuming back-office functions away from them,” adds Steve. “We do a lot of the ‘heavy lifting’ so they have more time to focus on growing their businesses and building stronger relationships with their clients and partners.
“As a leader in our industry, PenChecks brings a lot of value and expertise to the table. We also make sure everything we do is compliant, which takes another load off our clients’ shoulders. It gives me a great deal of satisfaction to provide solutions that our clients appreciate and truly value.”
Family, Fitness, Self-Reflection
With three teenage daughters reaching the age of making important life decisions, Steve devotes most of his non-working hours to quality family time. This includes many weekends cheering on his daughters in their sports activities. Yet, no matter how busy his schedule, Steve always carves out an hour a day of quality “gym time.” In addition to staying fit, he uses this time to de-stress and reflect on where he is in life and where he’s going.
Steve admits the best advice he ever received is a bit of a cliché: “People don’t plan to fail, they fail to plan.” Yet, to this day he takes a few minutes each morning to plan and organize, a strategy that seems to be working in his professional and personal life.
Meet the Team:
> Peter Preovolos, APA, RIA, AIFA, PPC / Chairman Emeritus
> Spiro Preovolos / President and CEO
> Mike McWherter, JD / Chief Compliance Officer
> David Peace / Chief Technology Officer
> Kevin D. Smallen / Chief Information 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
> Laurie Kemp / South Central Regional Director