Meet the Team
Over 25 Years of payment processing leadership and industry innovation.
Since joining PenChecks in 2002, Spiro has held several different positions, including Director of Operations, Director of Sales and Marketing, and most recently, Vice President of Strategic Development. This combination of hands-on operational and marketing experience has built a solid foundation for Spiro’s new role as company President, where he will focus more on strategic growth while continuing to oversee the IT, product management and sales and marketing functions. His new responsibilities will also include cultivating strategic partnerships and initiating the development of new products and services to keep the company’s service offerings at the forefront of the rapidly changing retirement plan industry. Most important from a customer service standpoint, Spiro will continue to ensure that PenChecks maintains its current commitment to delivering customized solutions and fast, personalized service.
Spiro earned his Accredited Pension Representative (APR) designation from the National Institute of Pension Administrators (NIPA), and holds a B.A. in Philosophy from the University of Southern California.
A second-generation family member, Spiro began working in the family business at a fairly young age. He joined PenChecks in 2002, and since then has held positions in almost every aspect of the business, from client services to operations to sales management, gaining a diverse and invaluable perspective on the company’s internal operations as well as the needs of its clients.
As President, Spiro focuses on strategic growth while overseeing the IT, product management and sales and marketing functions. His responsibilities include cultivating strategic partnerships and initiating the development of new products and services to keep the company’s service offerings at the forefront of the rapidly changing retirement plan industry. Most important from a customer service standpoint, Spiro continues to ensure PenChecks maintains its commitment to delivering customized solutions and fast, personalized service.
“We resolve client headaches by taking care of things they don’t want to do themselves,” he says. ”Many of these tasks are tedious and time-consuming, such as filing 1099Rs and tax withholdings, but they’re all important. What sets us apart is that we manage them with great care and expertise. Our proprietary systems and processes enable us to perform these tasks faster, better and cheaper than our clients can do for themselves, and this allows them to leverage our efficiencies in the form of better service and solutions for their own clients.”
Keeping One Step Ahead
Over the years, Spiro has watched the retirement industry grow, evolve and constantly adapt to changing regulations and consumer needs. With the industry now consolidating on many fronts, consumers have fewer choices as many TPA firms merge, get bought out, or opt to leave the market. In response, Spiro sees his role as helping PenChecks Trust® continue to develop new operating efficiencies while also offering innovative niche solutions to serve the market more effectively. He credits his father, CEO Peter Preovolos with making innovation an integral part of the PenChecks Trust culture by constantly communicating the importance of developing creative solutions and staying responsive to changing customer needs. As a result, staff members really internalize their roles as genuine problem solvers who help people.
In particular, Spiro enjoys being part of a business that constantly stays one step ahead of the industry. PenChecks Trust was the first to introduce Missing Participant and Auto Rollover IRAs, and developed them into very effective mainstream products. PenChecks Trust developed and was offering these solutions long before the government eventually wrote legislation that not only validated its solutions but also mandated the approach in the marketplace. The company also began crafting uncashed checks and missing participant solutions at least 10 years before anyone else. Their approach is now regularly used by institutions to clean up problems that pose difficult and potentially significant legal risks.
“As a financial services company, we are heavily technology and process driven, which allows us to have a lean, streamlined business model,” says Spiro. “I also like the fact that we are known as a thought leader, and we work hard to produce content that adds value to our clients and others within the industry. But what I like best about working at PenChecks is the opportunity to do things nobody else has done before, to create new products or services nobody else has created. It’s especially rewarding when clients thank us and tell us how much they enjoy not having to deal with the things we do for them now.”
A relatively new parent (a son age 5 and a daughter age 4), Spiro spends most of his free time playing with the kids and watching them grow. When he needs some “alone” time, he laces up his running shoes and hits the road for a brisk run. Spiro also enjoys reading, going out to the movies, and travel, both in the U.S. and abroad.
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