Summary
Steven J. Musmanno is Co-Managing Principal and Chief Investment Officer of APS Pension & Financial Services and CIO of APS Investment Management in Melville, New York, and a co-founder of APS Wealth Management, LLC. Earlier, he worked at Merrill Lynch in New York, rising to Vice President of Institutional Research Marketing.
Current roles
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Co-Managing Principal and Chief Investment Officer
APS Pension & Financial Services · Melville, NY
- Oversees the firm’s investment strategy
- Serves as pension and qualified plan consultant to the firm’s actuarial consulting and third-party administration (TPA) business
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Chief Investment Officer
APS Investment Management (APSIM) · Melville, NY
- Sets asset allocation policy and direction for all APSIM risk-based investment portfolios and leads portfolio management
- Chairman and Chief Fiduciary of the APSIM Fiduciary Investment Committee
- Manages day-to-day portfolio trading and operations for the institutional fiduciary business
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Co-Founder, Managing Member and Chief Compliance Officer
APS Wealth Management, LLC · Melville, NY
- Co-founded the firm, an SEC registered investment adviser
- Oversees the investment policies and accounts of wealth management clients
Earlier career
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Vice President, Institutional Research Marketing
Merrill Lynch · New York, NY
- Headed marketing and sales for the Emerging Markets Equity Research group
- Earlier, in the investment banking and private client area, provided equity portfolio strategy to high-net-worth clients and helped syndicate direct placement programs on new equity issues
Education
- New York University, Stern School of Business – Master of Business Administration (MBA), Finance
- State University of New York at Oswego – Undergraduate degree
Professional designation
Steven holds the Accredited Investment Fiduciary Analyst (AIFA) designation. The AIFA builds on the Accredited Investment Fiduciary (AIF) program and prepares designees to assess fiduciary practices, such as how well a retirement plan’s investment process follows a defined standard of care. Professional designations do not imply a level of skill or guarantee results; FINRA keeps a professional designations database that lists the requirements for the AIFA.
Areas of expertise
- ERISA fiduciary governance for 401(k), 403(b) and defined benefit plans
- Investment policy statements and investment lineup oversight
- Risk-based model portfolio construction and management
- Asset allocation policy and portfolio trading
- Pension and qualified plan consulting for closely held businesses
- Private wealth management
Read the full biography, or learn how this experience applies to fiduciary services for plan sponsors.