Retirement services platform Penelope has named three veteran advisors—Marcia Wagner, Kevin Crain, and Lisa Kottler—to support its expansion into new markets as demand for small business retirement solutions accelerates
The appointments come as state-mandated retirement programs continue to roll out across the U.S., prompting small and mid-sized businesses to seek help navigating regulatory changes and implementing retirement plans
“There are 34 million businesses in the U.S., yet only around 700,000 offer a 401(k)—leaving the vast majority of employees underserved,” said Jean Smart, CEO and founder of Penelope.
Smart said the new advisors bring deep expertise in retirement policy, compliance, technology, and financial services—capabilities Penelope will rely on as it builds out its platform, which uses AI-driven tools and a modern tech stack to simplify plan administration.
Advisors bring decades of experience
Wagner, a lawyer with more than 38 years of experience, is the founder of The Wagner Law Group and a nationally recognized expert on ERISA and employee benefits. She regularly advises clients on plan design, fiduciary compliance, and tax issues, and serves on multiple industry boards.
Crain is the former head of retirement research at Bank of America and currently serves in advisory roles with the Milken Institute, McKinsey, and other organizations. His work has focused on financial wellness, longevity, and underserved populations.
Kottler brings fintech and startup expertise to the advisory team. She was an early developer of pooled employer plans (PEPs) for startups and previously led retirement initiatives at firms including NFP, Voya, and Schwab. Her work intersects behavioral finance and technology-driven retirement access.
Platform targets underserved small businesses
Penelope’s platform is designed to simplify retirement planning for small employers, a market historically underserved by traditional providers. The company said it is focused on delivering compliant and user-friendly solutions that help small businesses offer competitive benefits.
The expansion of its advisory team reflects a broader strategy to accelerate adoption among employers responding to shifting retirement mandates and growing employee expectations for long-term financial security.
