ARS, an institutional lifetime income provider, today announced a new CEO in Dave Paulsen, an industry veteran with over 30 years of experience in retirement plans, asset management, and insurance solutions.
In his new role, Paulsen will drive innovation and growth at the firm, said ARS in a release.
Paulsen first came to ARS when it was formed in 2020 and worked as a product designer for its Lifetime Income Builder solution, a guaranteed income strategy embedded within investment portfolios as an underlying holding with its own daily unit value. Today, the tool has seen close to an 80% increase in participant enrollment to solutions embedded with the feature, signifying a need for products that generate income guarantees without sacrificing growth, control, or simplicity, ARS stated.
“I am honored to take on this role and excited to continue to work toward the many opportunities we have ahead,” said Paulsen. “Our focus at ARS remains designing cutting-edge lifetime income solutions that enable better participant outcomes and help more Americans become retirement ready.”
Since its inception, ARS has also introduced two target-date fund (TDF) series aligned with its Lifetime Income Builder solution. For the future, the firm says it is continuing to focus on ongoing product development efforts aimed at expanding its portfolio of offerings and will announce additional partnerships with recordkeepers and insurance providers later this year.
ARS says its team is in “active discussions” with over 30 mega plans and nearly 1,000 advisors about the opportunities its Lifetime Income Builder series brings to participants. ARS is also currently working with advisors who are pushing for a TDF series with Lifetime Income Builder to be added as the plan’s qualified default investment alternative (QDIA).
“Our success is largely due to our strong leadership team, combined with industry veterans and experience outside of our industry, that brings perspective to solve one of our country’s greatest challenges–helping ensure Americans are financially prepared for retirement,” added Paulsen.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.