Money Management Institute Elects Five Firms to its Board of Governors: New Governors Bring Deep Experience and Additional Perspective

Wednesday, April 10, 2019

NEW YORK, NY, April 10, 2019 – The Money Management Institute (MMI) today announced the election of five new firms to its Board of Governors.

Each firm will be represented on the Board by an experienced, senior-level executive. Joining the MMI Board of Governors, effective May 1, 2019, are:

  • Brendan Clark, Chief Executive Officer, Clark Capital Management Group
  • Anne Steer, Head of Distribution, Congress Asset Management
  • Steve DeAngelis, Senior Managing Director, Head of Distribution, FS Investments
  • Jeff Welday, Executive Vice President, National Sales Director, Invesco
  • Sue Thompson, Executive Vice President, Head of SPDR Americas Distribution, State Street Global Advisors

The addition of the five new firms is the first stage of a multi-year transition to implement term limits for firms represented on the MMI Board of Governors. The term limits were enacted by the Board of Governors a year ago to ensure firm rotation on the Board and to give more member firms the opportunity to join the leadership group over time.

“We are excited to welcome these firms – and the distinguished industry leaders chosen to represent them – to the MMI Board,” said Patty Loepker, MMI Chair and Managing Director, Head of Research Directed Advisory Programs at Wells Fargo Advisors. “As our organization continues to grow and expand, the Board recognized that we had a responsibility to create an orderly process to allow more firms to join the Board. We unanimously agreed to rotate incumbent firms off the Board, providing a pathway for new firms to participate.”

Ms. Loepker added, “These individuals and the leading asset management firms they represent are at the forefront of innovation in the advisory solutions industry. As we collectively work to enhance the solutions we provide to financial advisors and investors, their diverse input and points of view will be invaluable to our efforts.”

Said Craig Pfeiffer, MMI President and CEO, “The Board acted responsibly and in the best interests of MMI by agreeing to initiate Board term limits at the firm level and by devising an orderly transition plan to implement them. Our organization will be strengthened by the addition of new firms and fresh perspective to the Board each year.”

Mr. Pfeiffer added, “In addition to welcoming our five new Board firms and Governors, I want to specifically acknowledge those firms and individuals that will be transitioning off the Board. We offer them special thanks for their service and for the perspective they have brought to our Board discussions, and we look forward to their continued engagement with MMI and contributions going forward.”

The firms and individuals transitioning off the MMI Board, effective May 1, 2019, are:

  • Matt Johnson, Director, Private Client Sales, Brandes Investment Partners
  • Noreen Beaman, Chief Executive Officer, Brinker Capital
  • Tim Stinson, Group Head of Wealth Management, Cetera Financial Group
  • Dan O’Lear, President, Franklin Templeton Distributors
  • Andrea Lisher, Managing Director, Head of the Americas, Global Funds, J.P. Morgan

About the Money Management Institute (MMI): Established in 1997, the Money Management Institute (MMI) is the industry association representing financial services firms that provide financial advice and investment advisory solutions to investors. Through conferences, educational resources, and thought leadership, MMI facilitates peer-to-peer connections, fosters industry knowledge and professionalism, and supports the development of the next generation of industry leadership. MMI member firms are dedicated to helping individual and institutional investors, at every level of assets, plan for and fulfill their financial goals. For more information, visit

Joan Lensing,
 Money Management Institute,, (646) 868-8518
Matthew Conroy, Peppercomm,, (212) 931-6133