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WMSI Names Michael T. Shafer Vice President of Relationship Management

Innovative, veteran of retirement and insurance industries will enhance WMSI's client relationships and expand utilization of IRA rollover services.

Bedminster, NJ (November 29, 2007) - Wealth Management Systems Inc., the first company to offer fully automated IRA rollovers in the retirement services industry, appointed Michael T. Shafer Vice President of Relationship Management.

In his new role, Mr. Shafer will have primary responsibility for managing existing client relationships with leading record keepers, plan administrators and financial institutions, enabling these clients to achieve significant growth in their asset retention and asset acquisition programs while streamlining their processing requirements.

"For almost 10 years, Michael has successfully driven both asset retention and asset acquisition at multiple firms with his innovative strategies", said John Geli, CEO of Wealth Management Systems Inc. "Michael's unique background in retirement sales, marketing, and operations allows him to consult with our clients on multiple aspects of their retirement strategy to help them develop end-to-end solutions to complex issues. We are very pleased to welcome Michael to our team â€“ his insights and experience will be invaluable to us as we move forward."

Previously, Mr. Shafer served as a Corporate Vice President of New York Life Insurance Company and the head of the Retirement Market team for New York Life's Agency Department. In this role, Mr. Shafer was responsible for the sales and marketing of IRA rollover and retirement income products, as well as life insurance and long term care insurance products for pre-retirees and retirees, for New York Life's agency distribution channel. Prior to joining New York Life, Mr. Shafer was an Associate Manager with Prudential Retirement Services, where he was instrumental in creating their asset retention strategy for their DB and DC plans, in addition to leading their IRA rollover sales desk.

Mr. Shafer holds the Chartered Financial Consultant (ChFC), Chartered Life Underwriter (CLU), and Chartered Advisor for Senior Living (CASL) designations from the American College.

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