End to End Servicing: The Newcleus Difference

December 12, 2021

We know, every advisory says they’re different from the rest. But the difference is, at Newcleus, we are.

Today, we have Richard Pearson, EVP and Chief Operating Officer at Newcleus, on video talking about what makes Newcleus, well, Newcleus.

Rich is a graduate of Lehigh University, class of 2003 with a Bachelor of Science degree in Business Information Systems. In October 2014, Rich was appointed Chief Administrative Officer (CAO) of BFS Group, a role he continued to serve under Newcleus.

Currently, as Chief Operating Officer, Rich oversees all enterprise resource management systems, which include Newcleus MINTS, processes related to compliance, new business, and benefit plan servicing.

Here’s what he has to say.

End to End Service

At Newcleus, one of our key differentiators is that we provide end-to-end service, from procurement of product to reporting. Some competitors in the space choose to outsource their service needs, however, we understand that service from start to finish makes a seamless experience for our customers.

Another key differentiator of Newcleus is that we’re not affiliated with a life insurance carrier, this provides us with more flexibility for our customers.

Tenured Staff

We have a lot of individuals that have been with Newcleus for a long period of time. The longevity of our staff breeds continuity and consistency for both our employees and our customers. For example:

Richard Pearson, EVP and Chief Operating Officer (presentee) – 15 years
Chris Pezalla, Executive Vice President – 15 years
Dan Barbaree, President and CEO – 14 years
Rachel Wentz, VP and Account Executive – 16 years
Renee Wentz VP, Director of Human Resources – 25 years (our longest-term employee)

We love to bring people into this culture and for it to stick. This goes a long way with our clients.

Responsible and Influential

Our culture has been a major focus, especially after the Waterfall transaction. We’re accomplishing a lot on the marketing side at Newcleus in relation to creating an effective social corporate responsibility strategy. Read on here for how to implement a CSR strategy for your bank or credit union.

Secure and Efficient

At Newcleus, we pride ourselves on providing secure and efficient service. This is where MINTS comes into play. Newcleus owns MINTS, which allows us to:

Make changes quickly
Do ad hoc reporting
Adapt quickly

In addition to MINTS, we perform self-imposed audits*. We also perform financial audits due to our new arrangement with Waterfall and our lenders.

What We Do

At Newcleus, 99% of our business is focused on the placement of BOLI and CUOLI; employer-owned assets. We also focus heavily on putting in properly designed deferred compensation plans for our bank and credit union executives and directors. We also provide compensation consulting for our customers, which is led by the Compensation Advisory division.

Always Improving

At Newcleus, we don’t want to stay with the status quo. This is why we are constantly thinking about different strategies to innovate. For example, LINQS+ and Titanium. We’re not going to stop implementing those technologies and services. However, we may add on a few different services that only enhance our customer’s experience.

All of these things combined are what separate us from our competition.

To learn more about who is on the Newcleus team, read on and meet:

*The audit is SSAE 18 SOC 1 Type 2. We’ll be adding SSAE 18 SOC 2 Type 1 and Type 2 in 2022. Internally, all of our 2021 Financials will also be audited.