Houston, TX, January 2, 2011 – Nova 401(k) Associates, a leading Third Party Administration (“TPA”) firm in the 401(k) industry, announced today two new company shareholders, Arasely Colchado, Nova Practice Manager, and Kim Davis, Director. Both employees now directly hold Nova 401(k) Associates shares.
“We’re very excited about the addition of Arasely and Kim to our shareholders, because it affirms our commitment to Nova 401(k)’s business model of promoting our employee engagement and retaining key staff through ownership,” says Karen Smith, founder and president of Nova 401(k) Associates. “Both of these women exemplify the traits we look for in our shareholders and are stellar examples of the consummate professional who can translate technical concepts into English that clients and advisors can understand. They are smart business women who embrace the entrepreneurial spirit.”
Colchado is the Defined Contribution Practice Manager for Nova 401(k) Associates. She is responsible for managing Nova 401(k)’s defined contribution practice’s daily operations in the Austin, Dallas and Houston offices including developing, implementing, and monitoring processes, procedures, and controls to maximize operational efficiency and to enhance the client experience. “Arasely has lead some of our most successful client initiatives including implementing our client management system in 2008 and assisting clients with timely filing of Forms 5500 and 5500-SF’s when electronic filing rolled out in 2010,” said Smith. Colchado is a member of the National Institute of Pension Administrators (NIPA), having attained her APA (Accredited Pension Administrator) designation in 1999 and continues to expand her pension knowledge with her involvement in NIPA and ASPPA (American Society of Pension Professionals and Actuaries).
Davis is the Director of Nova 401(k) Associates’ Dallas office and has been with the firm since 2004. She opened Nova 401(k)’s office in Dallas in 2008 and has day-to-day responsibility for overseeing the Dallas office. Her other responsibilities include consulting with plan sponsors on 401(k) Plans and reviewing technical work prepared by junior staff. “Dallas is a strong marketplace for Nova 401(k), and Kim is big part of our growing success in Dallas,” says Russ Hooker, Executive Vice President of Nova 401(k) Associates. Davis is a member of the American Society of Pension Professionals and Actuaries (ASPPA) and of the ASPPA Benefits Council of Dallas/Fort Worth. She holds the Qualified 401(k) Administrator (QKA) designation and has completed six out of seven exams towards obtaining the Qualified Pension Administrator (QPA) designation.