Pittsburgh-based retirement industry fintech provider IRALOGIX announced today that Dave Bernard stepped down as chief executive officer effective immediately. The board has appointed Peter de Silva as the new CEO.
IRALOGIX did not offer any comment on the sudden transition beyond comments in a press release issued today.
“On behalf of the board, I want to thank Dave and the IRALOGIX team for the great job they have done in leading the company from a fledging startup to a truly disruptive force in the retirement market,” board member Jim Smith said via the press release. “During his tenure, Dave has been instrumental in not only building out a great product and a cutting-edge technology platform but also assembling a very talented group of employees and senior leaders.”
de Silva has been an IRALOGIX investor and board member for the past two years, and is a nationally recognized and highly accomplished financial industry executive. He assumes the reins at a critical juncture in the company’s history as it continues to mature. Last fall’s successful capital raise allows IRALOGIX to capture the significant growth opportunities ahead.
de Silva has more than 35 years’ experience leading established companies in the financial services industry, including roles as president of TD Ameritrade’s retail business, president of Scottrade Financial Services, CEO of UMB Bank, and 17 years of experience at Fidelity Investments in various leadership roles.
“This is a really exciting time for IRALOGIX, its employees, and clients,” de Silva said. “We’ve had tremendous success helping to redefine and, in many cases, disrupt the wealth industry beginning with IRAs. My objective is to continue our innovative heritage while speeding up our growth trajectory, scaling our business, and expanding our client base and distribution channels. I am thrilled to be given this opportunity to lead IRALOGIX as it enters its next lifecycle and to help solidify our mission of transforming the retirement experience for every investor in America.”
IRALOGIX enables institutional partners to rapidly launch profitable white-label IRA programs that leverage institutionally priced investments as well as professional advice and education. The company’s modular technologies are cloud-native and support a fully paperless process with no account minimums.
Earlier this month, Shlomo Benartzi’s PensionPlus and IRALOGIX announced a partnership to offer PensionPlus’s personalized retirement income planning through IRAs.
SEE ALSO:
• PensionPlus-IRALOGIX Deal Brings Benartzi’s Tool to IRAs
• Personalized IRAs Coming Q1 2024 from New Morningstar Retirement, Envestnet Partnership
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
