Expanding Client Connections: Monika Hubbard Introduces Ameritas to the Financial Institution Marketplace

Given Ameritas’s deep experience in retirement plans and our desire to strengthen our influence in key markets, it seems a natural fit that we could serve financial institutions such as community, regional and national banks that are interested in adding retirement planning to their portfolio of services. Our stability, expertise and commitment to service combine to make an exceptional package. The only thing missing? A financial institution expert uniquely skilled to bring our powerful offering to this marketplace.

Enter Monika Hubbard, AIF, CEBS, and now institutional sales director for the financial institutions channel at Ameritas retirement plans. Monika joined Ameritas in April 2023 with a goal of bringing our retirement solutions to community, regional and national banking institutions. She’s quickly recognized how we can make a strong and lasting impact in the marketplace.

“I’ve worked in banking essentially my whole career, eventually moving into the retirement plan space, and always with the goal of helping banks deepen their relationships with their customers,” Monika explains.

“When it comes to offering retirement plans, it can be challenging to provide the necessary level of service and record keeping necessary, so outsourcing the administration of these plans is often a very viable choice for financial institutions. However, not all partnering solutions are equal, which is why I’m so excited about joining Ameritas. This is a company that’s financially stable, with a clear commitment to investing in its technology, personnel and products. We may be new to the financial institution market, but we’re a proven expert in retirement plans,” Monika said.

A commitment to “a record of truth”

Having worked previously with BlueStar Retirement Services, which Ameritas acquired in 2021, Monika had some experience with Ameritas before joining us. “The Ameritas retirement plans marketing team has consistently been impressive, and our service team is best-in-class. Because Ameritas has built our record-keeping platform to be the record of truth, our clients know our plans will remain in compliance. They don’t have to worry about our people not being responsive or errors creeping into the process. That’s simply not how we do business.”

According to Forrest Wilson, senior vice president of sales and distribution for Ameritas retirement plans, Monika’s proven experience in the financial institution marketplace makes her the perfect choice for her new role at Ameritas. “The combination of Monika’s extensive work in the industry and her expert knowledge in retirement plans is unique and powerful,” he says. “That combination has become even more valuable given the requirements imposed by Secure 2.0 legislation that require retirement recordkeepers to invest precious resources to stay current. For many financial institutions, it simply makes more sense to focus on their core business, while finding a great partner for retirement planning. With an expert like Monika on board, Ameritas can be that partner.”

Monika is perhaps most excited about the depth of service Ameritas brings to the financial institution marketplace. “Because I’ve worked in this space in several different roles, I’ve seen just about every business model there is—and I’m confident about the way Ameritas can serve those businesses,” she explains. “As well-positioned as we are, I look forward to showcasing what we have to offer. “

While Monika has identified a subset of financial institutions who may see particular value in partnering with Ameritas, those relationships are only the beginning. “We’re seeing interest from larger banking institutions who have the resources, clients and commitment to setting up their own pooled employer plan (PEP). We can help them with that.”

What Ameritas has to offer

Ameritas is in a unique position to help financial institutions go to market with a retirement offering that can be incredibly profitable, efficient and engaging for their clients. “Because clients who come in for a retirement plan offering will often want to expand the services they use within the bank—especially if they have a good experience—we’re helping these institutions provide products and services for the full range of their clients’ needs,” she explains. “What’s more, we’re a proven provider who will not give a financial institution reason to be concerned about reputational risk. So there’s tremendous upside for them to get into this market and leverage it as a way to deepen relationships with new and existing clients.”

The future looks bright for Ameritas retirement plans in the financial institution marketplace—we are well positioned to lead the growth strategies for our retirement plan management outsourcing solutions for community, regional, and national banking institutions —and we’re only getting started.

Email Monika about her work in this area or how she might help you and your clients.