Wealthcare Capital Management
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Building a Revolution
Michael Ashker
Chief Executive Officer
Leonard Reinhart
Executive Chairman
Teresa Schafer
Chief Financial Officer / Senior Vice President of Operations
Jeffrey C. Leighton, CFA®
Managing Director / Advisor Client Group & Business Development
Ronald D. Madey, CFA
Chief Investment Officer & Chief Compliance Officer
Karen K. Nelson
Senior Managing Director / Chief Advisory Services Officer
Robert Redican
Senior Vice President - Service Solutions Group
Robert P. Wilson
Chief Compliance Officer


OUR LEADERSHIP

Michael Ashker
Michael Ashker
Chief Executive Officer

Michael Ashker joined Wealthcare Capital Management in 2013 in order to accelerate and expand the company's leadership of the goals-based wealth management movement. With 15 years experience in the investment industry, Mr. Ashker is a serial entrepreneur with a history of cultivating high-growth, platform-based businesses.

He began his career as a retail stockbroker before transitioning into discretionary money management, eventually founding the hedge fund group, Lynx Capital Group. The onset of the digital era took him outside the investment world, as he co-founded Healthaxis.com, the first digital health insurance agency, and JusticeLink, the first provider of electronic filing services for the legal profession. JusticeLink was sold to Lexis-Nexis in 2001 and HealthAxis became one of the top 100 publicly traded internet companies under his leadership. In 2003, he founded and served as CEO of the first consumer-driven health insurance company, called Imerica, which was funded by Bain Capital. Since 2004, Mr. Ashker has run his own venture boutique, Agility Partners, working with other entrepreneurs as a hands-on investor and advisor in a range of industries.

In 2010, he decided to return to the investment industry. He recognized the need and opportunity to develop a superior business model that would enable investment advisors to provide a superior client experience; the hallmarks of which are cost efficiency, transparency, goals based investing and a client-centric platform. During his research, he met David Loeper, Wealthcare’s founder and inventor of our patented financial planning and investment system. Mr. Ashker jumped at the opportunity to lead the future of Wealthcare, and helped assemble the talent from both existing Wealthcare team members and new executives to compliment other resources and launch Wealthcare 2.0.


Leonard Reinhart
Leonard Reinhart
Executive Chairman

Recognized as one of the founders of the separately managed account industry, Mr. Reinhart brings over three decades of experience and innovation to Wealthcare’s Board of Directors. He is the founder of the Lockwood family of companies, which, upon joining forces with Pershing in 2003, became one of the largest providers of turnkey and private-labeled managed account solutions for the introducing broker-dealer and registered investment advisor markets.

Prior to founding Lockwood and serving as Managing Director and member of the Executive Committee of Pershing LLC, Mr. Reinhardt was President of the Consulting Group of Smith Barney. During his time at Smith Barney and its predecessor, E.F. Hutton, Mr. Reinhart was directly responsible for developing programs that introduced institutional level professional investment management services to the individual investor marketplace.

He was a long-time columnist for Financial Planning Magazine and has appeared on CNN & CNBC. Mr. Reinhart also serves on the Boards of LifeYield, LLC, Wheelhouse, LLC and The University of Rhode Island Business School where he received a 2011 Distinguished Achievement Award. Mr. Reinhart has a Bachelor of Science degree in Finance from the University of Rhode Island.


Teresa Schafer
Teresa Schafer
Chief Financial Officer / Senior Vice President of Operations

Terry Schafer is a seasoned financial services executive with experience in strategic planning and business growth, as well as operations management, technology infrastructure and development. Ms. Schafer will be instrumental in guiding operations, trading, risk management, compliance and the financial performance of Wealthcare's advisory services.

Prior to forming her own Virginia-based consulting firm in 2009 and aligning with Mr. Ashker, Ms. Schafer worked for Credit Suisse as Chief Operating Officer for the Global Equity Derivatives businesses in London and then in the same position for the Equities Americas division in New York. In that role, she directed strategic initiatives ensuring efficient functions across Cash Equities, Electronic and Program Trading, Prime Brokerage, ETF Trading and business/sales support.

Prior to Credit Suisse, she was a Managing Director at Bankers Trust Company, in New York, Tokyo and London, supporting ongoing business management and new business growth and development. She began her career at Price Waterhouse in New York after earning a Bachelor of Science in Accounting from The University of Scranton, where she is now a member of the Board of Trustees.


Jeffrey C. Leighton
Jeffrey C. Leighton, CFA®
Managing Director / Advisor Client Group & Business Development

In nearly thirty years, Jeffrey Leighton’s career has spanned practically every facet of the investment management and financial services industries. He joins the Wealthcare management team to accelerate the growth of our wealth advisory outsourcing business.

Mr. Leighton is a former partner of Nicholas Applegate Capital Management, where he spent twelve years helping to build one of the largest managed account businesses in the industry. He began his career as a financial advisor with both Dean Witter Reynolds and Prudential Bache Securities. Mr. Leighton was an early adopter of managed accounts and was an industry pioneer in building and delivering educational training models to help advisors grow their practices. He has worked as a research analyst and a portfolio manager, managing corporate, municipal and high net worth portfolios.

Mr. Leighton graduated from the University of Massachusetts and is a CFA charter holder and a member of the Boston Security Analysts Society and the Chartered Financial Analyst Institute.


Ronald D. Madey
Ronald D. Madey, CFA
Chief Investment Officer & Chief Compliance Officer

Ron Madey serves as Chief Investment Officer of Wealthcare Capital Management. He is an industry veteran with extensive expertise in investment management, financial plan modeling and the application of technology to deliver cost-effective, risk-managed solutions to improve the investor experience and help clients achieve life-financial goals. Mr. Madey’s more than twenty-five years of experience includes roles as Chief Investment Officer for SightLine Investments and FolioDynamix, National Director of Investments for Lincoln Financial Advisors, and National Practice Leader for Towers Perrin (now Towers Watson) Asset Consulting.

As an active participant in the industry’s dialogue on investment strategy, financial modeling and risk management, Mr. Madey has presented at conferences sponsored by the CFA Institute, the Institutional Investor Institute, the Investment Management Institute, the American Bankers Association, the Money Management Institute and the Pennsylvania Institute of CPAs. He is also a member of the CFA Institute and the CFA Society of Philadelphia.

He holds a Bachelor of Business Administration, with honors, in finance and real estate and a Master of Business Administration with an emphasis on planning and strategy from Kent State University, and was inducted into Beta Gamma Sigma, the international honor society recognizing business excellence.


Karen K. Nelson
Karen K. Nelson
Senior Managing Director / Chief Advisory Services Officer

Ms. Nelson comes to Wealthcare Capital Management® with extensive project management and systems analysis experience in various vertical markets. She has managed many diverse development projects ranging from financial application development projects to a major supply chain re-engineering project. Prior to joining us in 2000, Ms. Nelson served as Manager of Mid-Atlantic Application Development for The Allied Group. While at The Allied Group, Ms. Nelson managed application development projects for such companies as: AOL Time Warner, National Geographic, Sun Microsystems, General Motors, Phillip Morris, NEXTEL and others. Prior to working with The Allied Group, Ms. Nelson was with the Westvaco Corporation managing numerous system analysis and information system development projects.

Ms. Nelson holds degrees in computer science and business administration.


Robert Redican
Robert Redican
Senior Vice President - Service Solutions Group

Robert Redican has spent over 25 years as a transformation leader in the financial services industry. He joins the Wealthcare management team as Senior Vice President in charge of Wealthcare’s new Service Solutions Group where he will pursue advancements for our wealth management platform designed to create exceptional experiences for our investment advisors and their clients.

Before joining Wealthcare, he was the Head of Managed Accounts/Product Management for BNYMellon/Pershing where he led the creation of their new Wealth Management Platform Solution. Prior to Pershing, Mr. Redican spent 17 years with SEI Investments holding various leadership roles, most notably Chief Data Officer and Senior Vice President of Advisor/Wealth Operations. Mr. Redican is a graduate of Widener University with a Bachelor of Business Administration.


Robert P. Wilson
Robert P. Wilson
Chief Compliance Officer

Mr. Wilson is a co-founder and former director of Wealthcare Capital Management. After serving as Chief Financial Officer since 1999, he is now a senior advisor to the firm. Prior to his time with Wealthcare, Mr. Wilson was Managing Director and Treasurer of First Union Corporation's Retail Securities Group, which is now part of Wells Fargo Advisors. His last assignments at First Union included M&A analysis, acquisition due diligence and financial analysis on First Union's e-commerce brokerage strategy.

Mr. Wilson joined First Union following the merger of First Union and Wheat First Butcher Singer, Inc. in 1998. At Wheat First, he was Managing Director and Treasurer with over 17 years of finance, accounting, financial systems, capital utilization and risk management experience in a variety of positions, including serving as Chairman of Wheat First's Capital Markets and Fully Disclosed Clearing Credit Committees. Prior to joining Wheat First, Mr. Wilson worked for three years in public accounting with Ernst & Young. He earned a BS degree in Accounting from Virginia Tech and a MS in Business with a Finance concentration from Virginia Commonwealth University.


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