CUNA Mutual Group has hired two executives to top wealth management posts in a bid to broaden its brokerage services and distribution channels.
The Madison, Wisconsin-based company recruited Rob Comfort, the onetime overseer of LPL's broker-dealer services to banks and credit unions, to run CUNA Brokerage Services as president. He will lead sales operations and develop the firm's network of 400 advisors working at more than 250 credit unions nationwide, CUNA Mutual said in an announcement on Monday.
While at LPL, Comfort guided strategy for the company's business consulting team and managed partnerships with banks and credit unions. He parted ways with LPL in April, according to his LinkedIn profile.
CUNA Mutual also snagged a Lincoln Financial senior account manager to lead the expansion of CUNA's annuity products into broker-dealer relationships. Martin Powell joined as vice president of strategic account development and management for the company's wealth management business.
At Lincoln Financial, Powell led strategic partnerships and product sales strategy, CUNA Mutual said.
"We continue to innovate and grow to provide products and services that help people build financial security in retirement," David Sweitzer, senior vice president of CUNA Mutual's wealth management business, said in a statement.
Comfort was upbeat about what he described as CUNA's positive momentum in the marketplace. "Despite some industry headwinds, CBSI is in a great position to fulfill our long-standing commitment to doing what's right," he said.
Powell was equally optimistic. "We have an opportunity to help meet the needs of today's consumer with expanded annuity products that are straight-forward and built to alleviate some of the fear associated with investing," he said.