Michael Steffan (BidMoni)
Overview
Michael Steffan is an American entrepreneur, known for his role as a co-founder and Chief Revenue Officer of BidMoni, a company that innovates in the field of employee retirement plan management. Founded in 2018, BidMoni focuses on providing a platform, FiduciaryShield, which helps streamline the process of managing 401(k) retirement plans for businesses of all sizes. Michael Steffan has made significant contributions to financial technology through his work at BidMoni.
Recent Developments
- March 2024: BidMoni secured a funding round of $130,000 to further develop its FiduciaryShield platform. This seed funding aims to support ongoing development and expansion of its retirement plan comparison service.
- 2021-2023: Michael Steffan transitioned to a role at Equitable, serving as Regional Vice President for Tax Exempt Markets. In this capacity, Steffan has been influential in expanding Equitable’s market reach and refining its offerings in retirement planning.
- 2018-2020: During his tenure at BidMoni, Steffan focused on expanding the platform’s capabilities in direct response to evolving Department of Labor fiduciary regulations, ensuring that retirement plan providers can maintain compliance while offering competitive plan options.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Michael Fisher Steffan Jr. |
| Born | [Not publicly available] |
| Nationality | American |
| Occupation | Entrepreneur, Financial Advisor |
| Known For | Co-founder of BidMoni |
| Education | University of Tennessee-Knoxville |
| Net Worth | [Not publicly declared] |
Early Life and Education
Michael Steffan was born and raised in the United States. He developed an interest in finance early in life, which guided his educational and career choices. Steffan attended the University of Tennessee-Knoxville from 2001 to 2005, where he earned a degree in Finance. His academic background provided him with a strong foundation for his subsequent roles in financial advisory and entrepreneurship.
Career and Notable Achievements
Michael Steffan began his career with roles at prominent financial institutions, gaining experience in retirement planning and investment management:
- 2005-2007: Worked with Morgan Keegan & Company, Inc.; built expertise in financial advisory and investment management.
- 2008-2013: Held positions at Hartford Equity Sales Company Inc., focusing on securities and financial products.
- 2013-2018: Served as Regional Vice President at AXA Distributor LLC, honing his leadership skills and advancing his understanding of large-scale financial operations.
- 2018: Co-founded BidMoni, marking his transition to entrepreneurship. As Chief Revenue Officer, he played a pivotal role in the strategic direction and growth of the firm.
- Innovations: Instrumental in developing FiduciaryShield, the pioneering platform offering transparency and efficiency in retirement plan markets.
Current Work and Impact
Michael Steffan currently serves as a Senior Regional Vice President at Equitable, where he continues to apply his extensive expertise in financial markets to broaden the firm’s reach in tax-exempt sectors. His work at Equitable continues to influence retirement planning and investment strategies, ensuring compliance with fiduciary standards and enabling clients to make informed financial choices.
Conclusion
Michael Steffan’s professional journey reflects his commitment to innovation and excellence in financial services. Through his work with BidMoni and Equitable, he has helped reshape the retirement planning landscape, making it more accessible and transparent for businesses. Michael Steffan remains a respected figure in the financial technology sector, with the potential to influence future developments in retirement plan management and fiduciary services.