About Stadion

A team of smart, dedicated people working hard—for you

Stadion Money Management is a privately owned money management firm based near Athens, Georgia. Since being founded in 1993, our goal has been to help investors—through their advisors or company retirement plans—protect and grow their "serious money." That is, the money that absolutely must be there for the important long-term goals like retirement, education, and future family legacy.

A common value pervades our company culture: do right by our clients. We believe that building and safeguarding a financial future should not be confusing or overwhelming for investors. While our team of experienced money managers do some pretty complicated things to build and manage portfolios for the modern market, we strive to keep our communications with clients clear and straightforward. And we’re only a phone call away.

Firm Management Team

Jud Doherty, CFA

President and CEO, Investment Committee member

Photo of Jud Doherty, CFA

Jud Doherty currently serves as President and CEO of Stadion, is the President of the Stadion Investment Trust, is a member of the firm's investment committee, and serves on the Board of Directors of Stadion. Jud joined Stadion in 2001 after 10 years in institutional investment consulting. Under Jud's leadership, Stadion has grown its assets under management to over $3.7 billion as of 12/31/15. Jud earned his Bachelor of Arts degree in Economics from Vanderbilt University and holds the Chartered Financial Analyst designation. He is a member of the CFA Institute and the Atlanta Society of Financial Analysts. He also serves on the Board of Trustees of the Emmanuel Episcopal Endowment Fund. Previously he has served on the Board of Governors of the Athens Country Club and the Board of Directors of the Stadion Classic at UGA golf tournament; he was also a member of the Athens Historic Preservation Commission. Outside of the office Jud enjoys playing golf, classic mustangs, historic homes, and spending time with his family.

Duane Bernt, CFA

Chief Financial Officer, Investment Committee member

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Duane Bernt is the Chief Financial Officer of Stadion Money Management. Duane joined the firm in September, 2011. Prior to joining Stadion, Duane was senior vice president and head of Finance and Strategy for the Retirement Plan Services business of Lincoln Financial Group, a Fortune 500 company. In addition to this, he managed the rollover and retention business efforts. Prior to his business unit CFO role, Duane was vice president of Brand and Innovation at Lincoln Financial. Previously, Duane served as vice president and corporate treasurer at Lincoln Financial. In his capacity as treasurer, Duane was responsible for the company's corporate finance, risk, capital and cash management, and rating agency and banking relationships. Duane also served as second vice president, corporate planning and development at Lincoln Financial, with responsibility for merger and acquisition initiatives and corporate development activities. A 19-year veteran of the industry, he also played an instrumental role in the strategic development and implementation of Lincoln Financial Distributors. Duane earned a bachelor's degree from the University of Nebraska in Lincoln, Neb., and his masters of business administration from the Wharton School at the University of Pennsylvania in Philadelphia, Pa. He is a Fellow of the Society of Actuaries (FSA) and holds the Chartered Financial Analyst (CFA) designation.

Brad Thompson, CFA

Chief Investment Officer, Investment Committee member

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Brad Thompson joined Stadion in 2006, bringing 20+ years of financial analysis, investment management, and fund management experience with him to Stadion, where he manages the Stadion Portfolio Management team. Prior to joining Stadion, Brad served as the Chief Investment Officer and Chief Financial Analyst for Global Capital Advisors. Brad has a Bachelor of Business Administration Degree in Finance from the University of Georgia, and also holds the Chartered Financial Analyst designation. Brad is a member of the CFA Institute and the Bermuda Society of Financial Analysts and also holds the Chartered Retirement Plan Specialist Designation. Brad has served on the board of the Executive Leadership Council for the American Cancer Society and on the Board of Trustees for the University of Georgia Terry College of Business Student Managed Investment Fund. Brad enjoys watching UGA football and spending time with his family.

David Lacusky

Senior Vice President and Chief Distribution Officer

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David Lacusky, Senior Vice President and Chief Distribution Officer, is responsible for the distribution of Stadion's retail and retirement investment products. Dave joined the firm in 2013 as Director of Retail distribution and, in 2016 has assumed leadership over distribution of all Stadion products in both the retail and retirement lines.

Prior to joining Stadion, David held numerous sales roles at Hartford/Planco, including Divisional and National Sales Management, National Sales Director for the wire house channel, and Head of Distribution for Hartford in Japan. As a 20-year veteran of the industry, David has both leadership and hands-on experience in all aspects of broker dealer distribution inclusive of sales, sales management, relationship management and marketing. He has worked with independents, banks, regionals and wire house firms. His previous product experience included both mutual funds and annuities. David’s extensive experience in distribution, including expanding relationships with wire houses and independent broker dealer firms, positions Stadion to confront distribution opportunities in an increasingly complex product environment.

David earned his Bachelor's degree in Business/Marketing from Florida Atlantic University. Outside of the office, David enjoys spending time with his wife and four children, playing golf, competing in triathlons, and fishing.

C. Todd Lacey

Chief Business Development Officer

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Todd Lacey currently serves as the Chief Business Development Officer (CBDO) of Stadion’s retirement business. In this role, he is responsible for overseeing the relationships with current retirement recordkeeping partners as well as identifying and developing new channels of distribution and product development within the retirement business. Todd has spent his entire 20-year career in the retirement industry. Prior to joining Stadion, Todd held various roles at AEGON/Transamerica including EVP of Strategy & Corporate Development for Investments & Retirement, EVP of Business Development for the US retirement business and Senior Managing Director of Latin America. Prior to Transamerica, Todd was Founder & President of The (k)larity Group, a retirement plan advisory firm that was one of three finalists for the 2010 Plan Sponsor Retirement Plan Adviser Team of the Year Award. Todd is an active contributor to both the retirement industry and his community having served as co-chair of the NAPA 401(k) Summit and board member of the ASPPA Benefits Council of Atlanta. He currently serves as a Board Member of the Foundation for Mitochondrial Medicine. He has a B.S. in psychology from Miami University in Oxford, OH. Outside of the office Todd enjoys running, swimming, and spending time with his wife Cara and two daughters Camryn and Maddie.

Michael Isaac

Chief Compliance Officer

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Prior to joining Stadion as the Chief Compliance Officer in 2010, Michael was the Chief Compliance Officer for a national, independent broker/dealer and responsible for overseeing the development and administration of a comprehensive compliance program. Prior to that, Michael was a securities examiner for seven years with NASD (now FINRA), the nation's preeminent private sector regulatory body. During his NASD tenure, Michael worked in concert with the NASD Department of Enforcement, the SEC, the NYSE and state regulators. Michael was the recipient of the NASD President's Award and was also nominated for the Chairman's Excellence in Service Award. Michael is a member of the National Society of Compliance Professionals (NSCP) and has participated as a Faculty Speaker at NSCP Membership Meetings. Michael has a Bachelor of Business Administration Degree in Finance from the University of West Georgia. Michael enjoys spending time with his family, traveling and being a sports fan.

Michael Chlan

Chief Technology Officer, Chief Operating Officer

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Michael Chlan came to Stadion in 2001 to develop and manage an IT department capable of meeting the needs of the company. Michael has overseen the development of the critical software programs and technology necessary for continued growth and effective management of Stadion's growing enterprise. He is also responsible for overseeing Investor Services and Relationship Management. He brings over 20 years of technology experience in financial services for both Fortune 500 and startup companies. At Equifax, he led the development of new databases and data selection technologies that facilitated the creation of ChoicePoint, Inc. as a separate entity. As CTO of Consumer Financial Network, Michael built the first multi-vendor financial services shopping and comparison system prompting high level investments by GE Capital. Michael is the lead inventor on several technologies and financial services related patents.

Holly MacMillan

Senior Vice President, Chief Marketing Officer

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Holly MacMillan, who joined the firm in 2009, leads the Stadion Marketing Team. She increases the usage and awareness of the Stadion brand as well as Stadion’s investment products through targeted messaging and client segmentation. Holly's background includes project management, product development, strategic marketing and sales management. Prior to Stadion, she was Group Variable Annuity Product Manager with Genworth Financial. Holly received her Finance degree from the University of Georgia. Outside of work, Holly serves on the Board of Directors for the YWCO, a local recreation and wellness organization, and enjoys spending time with her family and traveling.

Portfolio Management Team

Brad Thompson, CFA

Chief Investment Officer, Investment Committee member

Photo of Brad Thompson, CFA

Brad Thompson joined Stadion in 2006, bringing 20+ years of financial analysis, investment management, and fund management experience with him to Stadion, where he manages the Stadion Portfolio Management team. Prior to joining Stadion, Brad served as the Chief Investment Officer and Chief Financial Analyst for Global Capital Advisors. Brad has a Bachelor of Business Administration Degree in Finance from the University of Georgia, and also holds the Chartered Financial Analyst designation. Brad is a member of the CFA Institute and the Bermuda Society of Financial Analysts and also holds the Chartered Retirement Plan Specialist Designation. Brad has served on the board of the Executive Leadership Council for the American Cancer Society and on the Board of Trustees for the University of Georgia Terry College of Business Student Managed Investment Fund. Brad enjoys watching UGA football and spending time with his family.

Paul Frank

Senior Portfolio Manager, Tactical Growth Strategy Lead

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Paul Frank joined Stadion Money Management in 2013 as a Senior Portfolio Manager. Prior to joining Stadion, Paul founded Aviemore Asset Management, LLC in 1993 and served as its President until 2013. In 2004 he established the ETF Market Opportunity Fund. He also served as President, Treasurer, Trustee and Chief Compliance Officer of Aviemore Funds from 2004 until 2013. Paul has a Bachelor of Arts in History and Economics from Drew University. He also completed a Masters of Business Administration in Finance from Fordham University's Graduate School of Business Administration in 1992, where he earned the Dean's award for academic excellence and was named class Salutatorian. Outside of the office Paul enjoys spending time with his family, is an avid hockey fan and enjoys fishing.

Rob Dailey

Portfolio Management Analyst

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Rob Dailey joined Stadion in 2008 as a Portfolio Management Analyst on our Portfolio Management team. Rob is responsible for assisting in the daily monitoring of Stadion’s proprietary investment model, as well as completing research projects originating from inside and outside the company. Prior to joining Stadion, Rob was an independent financial advisor. He received his degree in Business Administration from Georgia Perimeter College. Rob enjoys playing golf and watching football.

Clayton Fresk, CFA

Portfolio Manager

Photo of Clayton Fresk, CFA

Clayton is a portfolio manager on several of Stadion’s portfolios, including the Alternative Income portfolio. He is responsible for managing the fixed income and cash allocations across Stadion’s suite of products. He conducts in-depth model, market, product, and performance analysis and is a key liaison between the department and Sales and Marketing. He is also a regular contributor to etf.com and was named an "ETF Rockstar" in 2013 by ETF Report. Clayton joined Stadion in 2009, before which he was most recently a Sr. Business Analyst at RiverSource Investments, LLC in Minneapolis, MN. Clayton holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Minnesota. He also received an MBA degree and a Bachelor's degree in Finance & Marketing from the University of Minnesota. Outside of work, Clayton enjoys traveling, golfing, and playing & watching sports.

Bobby McKnight

Lead Quantitative Analyst

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Bobby joined the Stadion IT Team in 2008. As a Software Engineer, Bobby develops the connectivity and functionality of the Stadion systems, ensuring Stadion's data integrity. Prior to joining Stadion, Bobby was a database administrator for the Warnell School for Forestry and Natural Resources at the University of Georgia. He also received his Master's and Bachelor's degrees in Computer Science from the University of Georgia. Outside of the office, Bobby enjoys skiing, reading, and watching football.

Will McGough, CFA

Senior Vice President, Portfolio Manager

Photo of Will McGough, CFA

Will McGough joined Stadion Money Management in 2003. He leads the implementation of model-driven investment decisions and investment/market analysis to fulfill Stadion's investment products’ mandates. Will also helps guide the development of systems and processes critical to achieving scalable growth. A key interface with Stadion's institutional partners, Will is responsible for Stadion's best execution efforts and has played a pivotal role in managing Stadion's operational on-boarding of new products and the Portfolio Management team's launch or integration of them. Will received his BBA in Finance from the University of Georgia and also holds the Chartered Financial Analyst designation. Will is a member of the CFA Institute, the CFA Society of Atlanta, the American Association of Professional Technical Analysts, National Association of Active Investment Managers, the UGA Alumni Association and National Eagle Scout Association. Outside of the office, Will and his wife Casey lead an active community life and stay busy keeping up with their two young daughters and a houseful of dogs.

Brian Rosso

Portfolio Management Analyst

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Brian Rosso joined Stadion in 2015 as a Portfolio Management Analyst on our Portfolio Management team. Brian is responsible for the daily monitoring of clients' portfolios, trading portfolios in line with their investment objective, and reporting and reconciling clients' accounts. In addition, Brian assists in the investment analysis, performance measurement, and research in Stadion's model-driven investment decisions. Brian graduated from the University of Georgia in 2014 with a BBA in Finance. Prior to joining Stadion full time, Brian worked as an intern for Vickery Financial Services and as an intern in our Portfolio Management department. Outside of work, Brian is an avid bass fisherman who also enjoys attending sporting events, golfing, and spending time with friends and family.

Clayton Shiver, CFA

Portfolio Manager

Photo of Clayton Shiver, CFA

Clayton Shiver joined Stadion's Portfolio Management team in 2009 and is a portfolio manager for the Trilogy Alternative Return strategy and the Alternative Income strategy. Clayton plays a key role in research, analysis and high level process driving the options based multi-strategy portfolios. He is also involved in the day to day decision making and implementation of the strategies in terms of daily positioning and trade strategy. Clayton heads up performance analysis and composite construction that helped Stadion to complete its Global Investment Performance Standards (GIPS) compliance verification, and continues to maintain composites for the firm. Clayton helps design and monitor systems that help the Portfolio Management team to manage a growing number of strategies across a growing number of platforms. Clayton received a BBA in Finance from the University of Georgia and is a member of the CFA Institute and the CFA Society of Atlanta. In his free time, Clayton enjoys gardening, being outdoors and spending time with his family.

John Wiens, CFA, CMT

Vice President of Portfolio Management, Investment Committee Member

Photo of John Wiens, CFA, CMT

John serves as a key member of the portfolio management team and is a member of the Investment Committee. As a portfolio manager John participates in the research process, strategy discussions and portfolio risk assessment. Prior to joining Stadion, he held various positions in institutional investment asset management over a 30 year career at major Wall Street firms both in the US and Europe. John's extensive experience includes trading, portfolio management and construction for both institutions and high net worth individuals through multiple market cycles. John received his BA and MBA from the University of Alabama. Additionally, he holds the Chartered Financial Analyst and Chartered Market Technician designations. John also serves on the Board of Directors of Preferred Apartment Communities Inc. He is a member of the CFA Institute, the Atlanta Society of Financial Analysts and the Market Technicians Association.

Clayton Wilkin

Portfolio Management Analyst

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Clayton Wilkin joined Stadion in 2013 as a Portfolio Management Analyst on our Portfolio Management team. Clayton is responsible for the daily monitoring of clients' portfolios, trading portfolios in line with their investment object, and updating cash sheets. In addition, Clayton assists in model, market, and investment analysis, performance measurement, and research. Clayton graduated from the University of Georgia in 2013 with a BBA in Finance. Before joining Stadion full-time, Clayton worked as an intern for the Portfolio Management department. Outside of work, Clayton enjoys going to sporting events, playing golf, and spending time with family and friends.

Board of Directors

Roy Burns

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Roy is a Managing Director at TA Associates, a leading global private equity firm with an investment strategy of investing in high growth, high quality businesses. At TA, Roy focuses on investments in financial services, business services and other services companies. Prior to joining TA in 2001, he worked at Banc of America Securities in its High Yield and Leveraged Finance Group. Roy also worked at Davidson Kempner Partners, where he focused on public company investments. He received a BS degree in Business Administration, with Special Attainments, from Washington and Lee University and an MBA degree as an Arjay Miller Scholar from the Stanford Graduate School of Business.

Tim Chapman

Founder and Chairman

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Tim Chapman co-founded Stadion, formerly known as Personal Mutual Fund Management (PMFM, Inc.), in 1993, having begun his investment career in 1981 while studying Economics at the University of Georgia. In 1993, he worked to create the technology-driven actively managed investment model that has evolved into a keystone of Stadion's investment management success. Several years later, Tim created Stadion Retirement, formerly known as 401k Toolbox, to bring Stadion's 'win by not losing' investment philosophy to 401(k) plan participants nationwide. Over 100,000 401(k) investors use the professional managed account services offered by Stadion. That number rapidly grew since the 2006 Pension Protection Act included managed accounts among investments approved as Qualified Default Investment Alternatives (QDIA). Under Tim’s leadership, Stadion was named Defined Contribution News Advice Provider of the Year in 2004 and has been featured on the cover of Investment Advisor Magazine. Tim is a noted speaker on financial planning and investment management topics at national industry conferences. Tim enjoys playing golf and spending time with his family.

Jud Doherty, CFA

President and CEO, Investment Committee member

Photo of Jud Doherty, CFA

Jud Doherty currently serves as President and CEO of Stadion, is the President of the Stadion Investment Trust, is a member of the firm's investment committee, and serves on the Board of Directors of Stadion. Jud joined Stadion in 2001 after 10 years in institutional investment consulting. Under Jud's leadership, Stadion has grown its assets under management to over $3.7 billion as of 12/31/15. Jud earned his Bachelor of Arts degree in Economics from Vanderbilt University and holds the Chartered Financial Analyst designation. He is a member of the CFA Institute and the Atlanta Society of Financial Analysts. He also serves on the Board of Trustees of the Emmanuel Episcopal Endowment Fund. Previously he has served on the Board of Governors of the Athens Country Club and the Board of Directors of the Stadion Classic at UGA golf tournament; he was also a member of the Athens Historic Preservation Commission. Outside of the office Jud enjoys playing golf, classic mustangs, historic homes, and spending time with his family.

Roger Kafker

Photo of Roger Kafker

Roger is a Managing Director at TA Associates, a leading global private equity firm with an investment strategy of investing in high growth, high quality businesses. He heads the Boston office’s Financial and Business Services Group, focusing on investments in financial and business services companies. He is also a member of TA Associates' Executive Committee. Prior to joining TA, Roger served the Bankers Trust Company focusing on leveraged acquisitions. He received his BA, magna cum laude, from Haverford College and his MBA, with honors, from Harvard Business School. Roger is also the co-Founder of the Down Syndrome Research and Treatment Foundation as well as a member of the Board of Managers of Haverford.

Robert Wagner

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Robert Wagner was the Chairman and Chief Executive Officer of Victory Capital Management and was responsible for all aspects of Victory's asset management business. He was the Chairman of the Victory Capital Management Board of Directors and led Victory's Senior Management Committee. He was also a member of the KeyCorp Executive Council. Robert joined the firm in 2004 as President and was promoted to Chairman and Chief Executive Officer in March of 2005. Prior to joining Victory, Robert served as President and CEO of Gartmore Emerging Managers, LLC, as well as Executive Vice President of Institutional Markets. Prior to joining Gartmore in 2002, Robert was President and CEO of PMG Systems, a privately held company which was backed by private equity firm JMI. PMG provided technology and consulting solutions to the financial services market. Prior to that position, he served as President of the Institutional Markets Division at Pilgrim Baxter & Associates. He also spent 13 years with SEI Investments in a number of executive management positions and is on the board of the University of Colorado Leeds School of Business. Robert received a Bachelor of Science in Business from Western Illinois University.

John Walters

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John C. Walters is currently a private investor and consultant to various entities in the financial services sector. Prior to his current endeavors, he was most recently the President and Chief Operating Officer of Hartford Life Insurance Company in Hartford, CT. Hartford Life is one of the largest life insurance companies in the US by assets and part of the Hartford Financial Services Group, one of the largest diversified US insurance organizations. Hartford Life's businesses have been in industry leading positions in the annuity, mutual fund, retirement plan, and life insurance arenas. Under his leadership, Hartford Life had operating entities in the US, Japan, the UK, Canada and Brazil. While at The Hartford, Walters was also a board member of the American Council of Life Insurers and a member of the Executive Committee of the Investment Company Institute. Walters joined Hartford Life in 2000 after a 16 year career at First Union Securities and its predecessors. During this time, he led the product platform supporting all of the financial advisers for the firm, and at various times ran the mutual fund, investment consulting, insurance, and research efforts of the firm. Walters has a BA in finance from the University of North Carolina at Chapel Hill and an MBA from the Fuqua School at Duke University.

Rick Wolfert

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Rick Wolfert has 32 years' experience in the financial services industry that includes the following executive positions: 

- Vice Chairman, CIT Group Inc (a NYSE Commercial Finance Company) 

- President & CEO, GE Capital/Healthcare Financial Services, and an officer of the General Electric Company and GE Capital 

- President & COO, Heller Financial Inc (a NYSE Commercial Finance Company) 

- Chairman & CEO, KeyBank USA N.A. (a banking subsidiary of KeyCorp, a large financial services company). 

In total he has been closely involved with approximately 30 business acquisitions/divestitures.