Daybright Financial Hires CFO

CFO of Daybright Financial Hires

Daybright Financial announced that Wes Gilbreath has joined the company as Chief Financial Officer effective July 20, 2026. Gilbreath will lead Daybright’s financial organization as the firm continues to scale and invest in its next phase of growth.

Gilbreath joins Daybright from Integrity Wealth and has nearly 20 years of experience in the financial services industry, including significant work as a CFO. He will serve as the company’s chief financial officer and will oversee all aspects of the finance function.

Matt Riordan, who has served as Daybright’s CFO for the past 18 years, will continue with the company as Chief Operating Officer. In this role, he will focus on ensuring continuity in the financial organization and supporting Gilbreath’s transition, including the implementation of key relationships and institutional knowledge developed over nearly two decades.

“This is an important step in strengthening our leadership team as we continue to grow,” said Megan Schneider, chief executive officer of Daybright Financial. “Wes has deep experience at leading financial organizations in our industry, and we are equally fortunate to have Matt continue in his leadership role. His knowledge, relationships and leadership have been fundamental to Daybright, and his partnership will be critical as we move into our next chapter.”

“Daybright has built a strong financial foundation and I’m excited to be joining the team at such an important time,” said Gilbreath. “I look forward to working closely with Matt and the wider management team to support the continued success of the company and deliver for our customers.”

PensionBee, ASC’s automatic transfer partner

PensionBee, an online pension provider, and Actuarial Systems Corporation (ASC), a provider of pension plan automation software, have announced a partnership to simplify automatic retirement transitions for ASC and third-party administrators (TPAs) and their clients.

The new integration is said to reduce complexity, streamline compliance and save valuable time for pension plan administrators by expanding access to PensionBee’s member-friendly Automatic Rollover IRA solution.

“We are very pleased to be working with ASC to simplify involuntary eviction and termination planning for our clients,” said Helen O’Brien, PensionBee’s VP of Employer Relations. “Forced opt-outs increasingly carry significant reputational and fiduciary weight, and this integration makes it even easier for administrators to align their plan health with member outcomes.”

“This partnership helps our clients and other TPAs ​​reduce their workload in keeping their plan sponsor clients in compliance with the mandatory shutdown rules,” explains Cheryl Stuckey, ASC Senior Vice President. “Without this type of automation, TPAs ​​spend significant resources on these compliance efforts.”

Arax Advisory Partners acquires Transcend Capital Advisors

Arax Advisory Partners has signed a definitive agreement to acquire Transcend Capital Advisors, a multi-state registered investment advisor (RIA) that provides comprehensive wealth management and investment advisory services to high net worth individuals and families.

With assets under management (AUM) of more than $3 billion as of June 30, 2026, Transcend will be the seventh firm to join Arax in 2026, further expanding the firm’s presence in the growing country.

“At Arax, we have always believed that exceptional wealth management firms are built around exceptional advisors,” said Haig Aryan, Chief Executive Officer of Arax. “From our first conversations, it was clear that the Transcend team shares this philosophy. They have built an outstanding firm by bringing together seasoned advisors, seasoned investment professionals and an unwavering commitment to client service. Equally important, they foster a culture that attracts great people, prioritizes winning client trust and is focused on the long term. We are honored that Transcend has selected Arax for its next chapter on our way, and we look forward to shaping the future of wealth management together.”

“When we founded Transcend, we believed that customers deserved the best: an independent fiduciary committed to putting customers first, providing objective advice and aligning its best interests with those it serves,” said Duncan Niederauer, founder and vice chairman of Transcend. “Everything we’ve accomplished over the past seven years has been guided by these principles. As we looked to the future, we wanted a partner that would preserve what makes Transcend stand out while expanding what we can offer customers. This partnership with Arax accomplishes just that, and I couldn’t be more excited about the future.”

The transaction is expected to be completed in the 3rd quarter.

Capital Group expands PlanPremier solution

Capital Group has expanded capabilities with its PlanPremier recordkeeping solution, designed to help advisors grow and scale their workplace retirement businesses.

The improvements come as financial advisers increasingly view workplace pension plans as a key driver of practice growth and client acquisition. Demand for flexible service-oriented platforms that include access to a range of investment options continues to grow.

“Providing access to retirement plans is at the core of Capital Group’s mission to improve people’s lives through successful investing,” said Ross MacDonald, National Director of Capital Group Retirement Plan Sales. “As plan sponsors look to provide more meaningful retirement benefits for their members, advisors are being asked to do more, from investments to member engagement and financial education. They need strategic partners who can meet the full spectrum of their needs. This allows them to scale their business to reach more people saving for retirement.”

PlanPremier has always included access to Capital Group funds that are actively managed to benefit long-term retirement. The advanced features are designed to simplify plan management for financial advisors while expanding choices for plan sponsors, including:

• Open architecture offers investments from dozens of respected managers, including Capital Group Collective Investment Trust, with no equity requirement
• Personalized service includes an advanced communications team
• Capital Group’s digital membership engagement program ICanRetire, available to all PlanPremier customers, now includes holistic financial wellness while keeping retirement readiness at the center

In addition to these advanced features, PlanPremier continues to offer competitive fixed dollar pricing that does not increase as plans grow.

With more than $200 billion in retirement assets in more than 370,000 plans, Capital Group’s retirement solutions also include RecordkeeperDirect, SEP, SIMPLE IRA and SIMPLE IRA Plus.