Former MassMutual US chief Mike Fanning is coming out of retirement to succeed Richard Napolitano as CEO of technology platform provider Advisor360°.
Napolitano himself will step down, effective May 1, when Fanning officially takes the role (Napolitano will remain a strategic advisor to the firm).
Fanning spent 17 years at Massachusetts Mutual Life Insurance Company in various leadership roles before retiring in May 2023. In the final years of his tenure, he oversaw the sale of MassMutual's recordkeeping business to empower.
Fanning is already familiar with Advisor360°, having served as the company's board chairman for the past year and has been “instrumental in developing the business case for the company within MassMutual,” according to the company's announcement of his new role.
All-in-one software-as-a-service platform Advisor360° was spun off from Commonwealth Financial Network as an independent business in April 2019. Napolitano joined the firm as CEO in 2020.
The firm won a WealthManagement.com 2022 industry award for achievements in unified (all-in-one) systems by technology providers for spreading his digital input technology.
The firm made its first acquisition in January 2023 by acquiring the onboard digital assets and other wealth management-related assets of provider Agreement Express.
At the time, it was noted that the acquisition would help the firm with future development work, including automation and enhanced workflow and new digital signature features, among other improvements.
MassMutual remains Advisor360°'s largest customer, with the software used by more than 7,500 of that firm's advisors. after two years of developmentit Was delivered to the firm's advisers in June 2021.