The Standard Expands Retirement Plan Team with Key Hires

In a strategic move to bolster its presence in the retirement planning sector, Standard Insurance Company has announced the dual hiring of Tony McMasters as regional vice president and James Schugel as national sales consultant for retirement plans. This expansion not only reflects The Standard’s commitment to enhancing client and advisor support but also underscores the growing demand for retirement income solutions amid a shifting demographic landscape in the United States.

McMasters and Schugel's appointments come at a time when the retirement planning industry is experiencing increased pressure to provide innovative solutions. With more than 35 years of experience, McMasters will focus on advisors, plan sponsors, and third-party administrators in eastern Pennsylvania, while Schugel will support plans with over $10 million in assets, enhancing The Standard’s capabilities at both regional and national levels.

The Growing Need for Retirement Solutions

The demand for effective retirement income products has never been more pressing. According to LIMRA's U.S. Individual Annuity Sales Survey, annuity sales reached an impressive $107.4 billion in the first quarter of 2026. This represents a 1% increase year-over-year and follows a record-setting 2025, where total sales hit $464.1 billion. Such growth can be attributed to demographic shifts, particularly as more than four million Americans reach the age of 65 every year, many of whom lack adequate pension coverage.

This demographic trend not only fuels the broader retirement product market but also highlights the importance of workplace retirement plans, which remain vital in ensuring financial security for employees as they transition into retirement. With McMasters and Schugel joining The Standard, the company is poised to address these evolving needs more effectively.

The Expertise Behind the Appointments

Tony McMasters brings a wealth of experience to his role. Having previously served as regional vice president at Voya Financial, McMasters has developed a strong background in retirement plan sales and benefits consulting. He holds a bachelor’s degree in marketing from Clarion University of Pennsylvania and possesses FINRA Series 6 and 63 licenses, which allow him to provide investment advice and manage securities transactions.

On the other hand, James Schugel’s focus will be on larger plans with significant assets. His experience as a senior product and solution consultant at Lincoln Financial equips him with the insights necessary to support clients through the complex sales process. Schugel holds a bachelor’s degree in accounting from Saint Louis University and carries the Chartered Retirement Planning Counselor and Chartered Retirement Plans Specialist designations, in addition to his FINRA licenses. This combination of skills positions him to effectively support advisors during critical phases, such as finalist presentations and product positioning.

Implications for Financial Advisors

For financial advisors, the addition of McMasters and Schugel represents new opportunities to enhance their service offerings. Advisors in eastern Pennsylvania, for instance, now have a dedicated regional contact in McMasters, who can provide localized expertise and support. This can be particularly beneficial for those who have previously struggled to access resources tailored to their specific needs.

Similarly, advisors dealing with retirement plans that exceed the $10 million threshold can leverage Schugel’s national insights earlier in the Request for Proposal (RFP) process. Engaging with him at the positioning stage can provide a competitive edge, as his role is designed to fortify the advisory process from the outset rather than waiting until the finalist presentation stage. This proactive approach can significantly enhance the chances of securing high-value plans for advisors.

Market Dynamics and Strategic Growth

The economic landscape for retirement solutions is shaped by several key factors. As the workforce ages and more individuals approach retirement, the pressure on retirement plans to deliver sustainable income increases. This has led to a surge in annuity sales and a growing interest in employer-sponsored retirement plans.

The Standard’s expansion comes at a crucial juncture, as the firm seeks to capitalize on these trends by fortifying its sales team. According to Derek Fuller, divisional vice president at The Standard, McMasters' extensive background is expected to enhance the firm’s relationships with advisors and plan sponsors. Meanwhile, Jason Burlie, head of retirement plan sales, asserted that Schugel's expertise would enrich the company’s finalist strategy and bolster advisor support resources.

• McMasters’ Experience: Over 35 years in retirement plan sales and benefits consulting.
• Schugel’s Focus: Plans with assets exceeding $10 million.
• Market Growth: U.S. annuity sales reached $107.4 billion in Q1 2026.
• Advisory Opportunities: New resources for advisors in eastern Pennsylvania and beyond.
• Proactive Engagement: Importance of early involvement in the RFP process.

Key Takeaways

• The Standard enhances its retirement plan sales team with two key hires.
• McMasters focuses on eastern Pennsylvania, while Schugel targets larger plans.
• Growing demand for retirement products reflects demographic shifts.
• Advisors gain new resources for both local and national support.
• Early engagement in RFP processes can enhance success rates.

Frequently Asked Questions

What specific roles will Tony McMasters and James Schugel play at The Standard?

Tony McMasters will serve as the regional vice president focusing on retirement plans in eastern Pennsylvania, working directly with advisors and plan sponsors. James Schugel will act as a national sales consultant, primarily supporting plans with assets exceeding $10 million, assisting in the sales process, product positioning, and finalist presentations.

How do these hires align with current trends in the retirement planning market?

The appointments of McMasters and Schugel come at a time when the demand for retirement income products is on the rise, driven by demographic shifts such as an aging population. Their expertise is expected to enhance The Standard's ability to meet the needs of clients in a competitive market, particularly for larger retirement plans.

What should financial advisors take away from these changes at The Standard?

Financial advisors should recognize the value of engaging with McMasters and Schugel to strengthen their own advisory practices. With direct access to regional and national resources, advisors can enhance their proposal strategies and client support, particularly for larger retirement plans where competition is fierce.

How is The Standard positioned to grow in the retirement plan market?

The Standard is strategically positioning itself for growth by expanding its sales team amid rising demand for retirement solutions. By leveraging the extensive experience of McMasters and Schugel, the firm aims to improve its service offerings and strengthen relationships with advisors and plan sponsors, ensuring it remains competitive in a rapidly evolving market.