Don Trone - Leadership in a Fiduciary Framework

Be More Than A Fiduciary

#MBA #Trading #Business #Podcasting Education #Eric Dyson

22:08

Host Francesca Amiker sits down with directors Joe and Anthony Russo, producer Angela Russo-Otstot, stars Millie Bobby Brown and Chris Pratt, and more to uncover how family was the key to building the emotional core of The Electric State . From the Russos’ own experiences growing up in a large Italian family to the film’s central relationship between Michelle and her robot brother Kid Cosmo, family relationships both on and off of the set were the key to bringing The Electric State to life. Listen to more from Netflix Podcasts . State Secrets: Inside the Making of The Electric State is produced by Netflix and Treefort Media.…

год назад 34:32

MP3•Главная эпизода

Don Trone is the CEO and one of the Co-founders of 3ethos.

Don was the founding CEO of fi360, and filled that role until 2007. He was the founder and President of the Foundation for Fiduciary Studies; and, the first person to direct the Institute for Leadership at the U.S. Coast Guard Academy. In 2015 he was named by Investment Advisor magazine as the “Father of Fiduciary” and one of the 35 most influential people in the financial services industry. In 2003, he was appointed by the U.S. Secretary of Labor to represent the investment counseling industry on the ERISA Advisory Council. And, in 2007 he testified before the U.S. Senate Finance Committee on the fiduciary issues associated with the management of retirement plans.

Don is a graduate of the U.S. Coast Guard Academy, and served for ten years on active duty, most notably as a search and rescue helicopter pilot. He has a Master’s from The American College and has completed post-graduate studies in theology from the Pittsburgh Theological Seminary and Trinity Episcopal Seminary.

In this episode, Eric and Don Trone discuss:

The role of leadership skills in being a fiduciary
How fiduciaries can utilize AI technology
Key leadership traits and behaviors
Serving the best interest of plan participants

Key Takeaways:

Leadership is a critical component of being an effective fiduciary. There is a direct link between leadership behaviors and decision-making, and this too applies for retirement plan committees and advisors.
The use of the right AI chatbots and heuristics can be a valuable tool for ongoing professional development and training. This allows fiduciaries to quickly access information and refresh their knowledge when needed.
Collaboration and attentiveness are two key leadership behaviors that are often lacking, according to research. Fiduciaries need to focus on truly listening to and working with their clients. Courage is another important leadership trait that may not be explicitly recognized, but is critical for fiduciaries to be willing to speak up and challenge decisions when necessary.
Fiduciaries, whether committee members or advisors, need to embrace a leadership mindset and skill set to be truly effective in their roles and serve the best interests of plan participants.

“When you start to think about the great and successful people we have in our industry today, what you begin to understand is what made their careers so successful was their leadership behaviors.” - Don Trone

Connect with Don Trone:

Website: https://www.3ethos.com/

LinkedIn: https://www.linkedin.com/in/donald-trone-89873013/

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.

The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.

111 эпизодов

Be More Than A Fiduciary

Don Trone - Leadership in a Fiduciary Framework

Be More Than A Fiduciary

published год назад

MP3•Главная эпизода

Don Trone is the CEO and one of the Co-founders of 3ethos.

In this episode, Eric and Don Trone discuss:

The role of leadership skills in being a fiduciary
How fiduciaries can utilize AI technology
Key leadership traits and behaviors
Serving the best interest of plan participants

Key Takeaways:

Leadership is a critical component of being an effective fiduciary. There is a direct link between leadership behaviors and decision-making, and this too applies for retirement plan committees and advisors.
The use of the right AI chatbots and heuristics can be a valuable tool for ongoing professional development and training. This allows fiduciaries to quickly access information and refresh their knowledge when needed.
Collaboration and attentiveness are two key leadership behaviors that are often lacking, according to research. Fiduciaries need to focus on truly listening to and working with their clients. Courage is another important leadership trait that may not be explicitly recognized, but is critical for fiduciaries to be willing to speak up and challenge decisions when necessary.
Fiduciaries, whether committee members or advisors, need to embrace a leadership mindset and skill set to be truly effective in their roles and serve the best interests of plan participants.

Connect with Don Trone:

Website: https://www.3ethos.com/

LinkedIn: https://www.linkedin.com/in/donald-trone-89873013/

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.

111 эпизодов

#MBA #Trading #Business #Podcasting Education #Eric Dyson

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Be More Than A Fiduciary

1
FF5 #56 - Two Absolutes 6:04

1 day назад6:04

6:04

In this episode of Friday Fiduciary Five, Eric Dyson talks about two key principles in financial planning on his podcast. First, he asserts that individuals with debt problems often lack a written budget. Second, he notes that no one has ever regretted saving too much for retirement. Eric emphasizes the importance of starting early with retirement savings, using the example of a middle-income household saving 3% without auto-escalation, which can yield significant results over time. He also highlights the benefits of financial literacy and budgeting and the potential impact of even small savings contributions. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Mike Dullaghan: Regulation, Legislation, Opportunity and Risk in 2025 43:38

4 дня назад43:38

43:38

Mike Dullaghan is the Director of Retirement Sales Execution for Franklin Templeton. He is responsible for providing thought leadership, promoting new content, and delivering the tools and resources that help enable the Retirement team to effectively market Franklin Templeton products. Mr. Dullaghan is a regular contributor to Kiplinger’s “Building Wealth” newsletter. Previously, at Putnam Investments, he was the Director of Content and Sales Enablement for Putnam’s DCIO Team. Mr. Dullaghan received his Retirement Income Certificate, or RI(k), from the National Association of Plan Advisors (NAPA). In this episode, Eric and Mike Dullaghan discuss: Automatic enrollment and automatic escalation The evolution of retirement income solutions Regularly updating the plan design The blurring of lines between retirement and wealth advisory Key Takeaways: For ERISA plans established since January 1, 2023, automatic enrollment and auto-escalation are now required, reflecting a shift toward helping more workers save effectively for retirement. There's a growing focus on creating in-plan guaranteed income options, with innovations aimed at providing personalized income solutions using technology like AI to help retirees manage their savings. Just like smartphone operating systems, retirement plans need periodic review to ensure they're optimized for changing workforce demographics and participant needs. With state mandates and demographic shifts, advisors are increasingly working across retirement plans and wealth management, creating new opportunities for comprehensive financial guidance. “If we can boil it down to what's the why of retirement income, what's the how of retirement income, and what's the what, then I think we're going to be in a way, better place than we are today.” - Mike Dullaghan Connect with Mike Dullaghan: Website: https://www.franklintempleton.com/ LinkedIn: https://www.linkedin.com/in/mikedullaghan1/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #55 - The 80/20 Rule for ERISA Plans 7:03

9 дней назад7:03

7:03

In this episode of Friday Fiduciary Five, Eric Dyson talks about the 80/20 rule, also known as the Pareto Principle, in the context of ERISA plans. He explains that 70-80% of assets and contributions are in target date funds, yet much time is spent evaluating the core lineup. Eric emphasizes the need to focus on the 20% of issues that drive 80% of outcomes, particularly in target date funds and managed accounts. He suggests that committees should prioritize evaluating these key areas to improve participant outcomes, and a reminder that the primary driver of retirement success is the amount contributed to the plan. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Kevin Mahoney: Stewardship Reporting and Practice Management 28:11

11 дней назад28:11

28:11

Kevin has dedicated his career to helping people prepare for retirement. He assists corporate plan sponsors and their committees in meeting fiduciary responsibilities while guiding employees toward their financial goals. With over 25 years in financial services, he is a Certified Investment Management Analyst and Accredited Investment Fiduciary Analyst. His expertise spans corporate retirement plan design, implementation, and distribution. Before joining Raymond James in 2015, Kevin spent 24 years at Merrill Lynch. He holds a bachelor’s degree from Fordham University and is an active member of several professional organizations, including the Investment Management Consultants Association and the Society for Human Resource Management. He also serves on the leadership councils for the National Association of Plan Advisors and The Retirement Advisor Council. Kevin is deeply committed to community service, currently serving on the Board of Directors for Rockland Hospital Guild and the Finance Committee for United Hospice of Rockland. He previously held leadership roles with Meals on Wheels of Rockland, St. Margaret of Antioch Church, and the Boy Scouts of America. His contributions have earned him notable recognition, including Meals on Wheels Business Man of the Year (2015) and the Fordham University Community Leadership Award (2016). He has also been named to the Financial Times 401: Top U.S. Retirement Advisors annually since its inception. In this episode, Eric and Kevin Mahoney discuss: The benefits of thoroughly documenting service hours Ensuring consistency in delivering value Exercising caution when benchmarking services Engaging in holistic retirement planning Key Takeaways: Thoroughly documenting the time and effort spent servicing each client is an important process for advisors who want to truly justify their fees, enhance client retention, and identify both high and low-value engagements. Establishing a fiduciary training program, detailed service plans, and accountability measures is essential to ensure advisors consistently deliver value commensurate with their fees. Benchmarking services and fees against industry standards is vital, but advisors must exercise caution in data input to avoid erroneous conclusions regarding fee competitiveness. Advisors should engage in holistic retirement planning, including employee education, to succeed in the industry, while committees must scrutinize advisors' processes and pricing to meet fiduciary obligations. “If all you're speaking to is investments. You're going to struggle. You need to talk to the plan holistically. You need to talk to employee education. And you have to be committed to the best interest of the participants. And if you do that, I think there's staggering upside potential.” - Kevin Mahoney Connect with Kevin Mahoney: Website: https://www.raymondjames.com/mahoneygroupadvisors/ LinkedIn: https://www.linkedin.com/in/kevinmahoneytmg/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #54 - 3(21) vs 3(38) 9:36

16 дней назад9:36

9:36

In this episode of Friday Fiduciary Five , Eric Dyson breaks down the key differences between ERISA 3(21) investment advisors and ERISA 3(38) investment managers. He explains how these roles impact plan sponsors, committee responsibilities, and investment decision-making. Eric highlights the main advantage of hiring a 3(38) investment manager. He also discusses the cost structure, the importance of monitoring fiduciary duties, and the potential risks of over-delegation. For plan sponsors deciding between these two fiduciary roles, he provides practical guidance on evaluating advisors, understanding the investment policy statement, and ensuring clear communication with service providers. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Marcia Wagner: Adopting Best Practices 40:39

18 дней назад40:39

40:39

Marcia Wagner is the founder of The Wagner Law Group, one of the nation’s largest and most highly regarded law firms specializing in ERISA, employee benefits, and executive compensation, and has practiced employee benefits law for over 38 years. Ms. Wagner is an authority on qualified and non-qualified plans, fiduciary issues, deferred compensation, and welfare benefit arrangements, with experience in plan design and drafting, compliance, tax planning, and consultation on all aspects of ERISA and the Internal Revenue Code. Ms. Wagner also serves as an expert witness in ERISA litigation. Ms. Wagner has recently been appointed to the Board of Directors for the American Benefits Council, as well as a Member to the Board of Governors of the American College of Employee Benefits Counsel. Ms. Wagner has written hundreds of articles and 27 books. She is a highly sought after lecturer, is widely quoted in financial journals and has been a guest on Fox, CNN, Bloomberg, and NBC. In this episode, Eric and Marcia Wagner discuss: Committing to continually enhancing services Best practices that benefit professionals must follow Adopting investment policy statements and other governance documents Doing things with integrity and excellence Key Takeaways: Providers must continually enhance services to meet evolving industry standards, legal requirements, and client expectations. Benefit professionals should follow best practices, such as documenting processes, monitoring fees, evaluating service providers through RFPs and benchmarking, and thoroughly documenting meeting minutes to demonstrate prudent fiduciary processes. Investment policy statements, although not legally mandated, are considered fiduciary best practices for retirement plans and should be treated as plan documents if adopted. Believe in the industry's support for the middle class and social stability, maintaining humanity, generosity, flexibility, enthusiasm, pursuing excellence and integrity, and embracing the notion that everything will work out in the end. “Remember your humanity, and don't let the bastards get you down because you will encounter people who are good. Have a generous heart and just be as flexible as you can be. Be open to things that are new. Be enthusiastic. Try to do what you do with excellence and integrity.” - Marcia Wagner Connect with Marcia Wagner: Website: https://www.wagnerlawgroup.com/attorney/wagner-marcia-s/ LinkedIn: https://www.linkedin.com/in/marciawagner Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #53 - Your IPS for Target Date Funds 11:37

23 дня назад11:37

11:37

In this episode of Friday Fiduciary Five, Eric Dyson talks about the importance of investment policy statements (IPS) for target date funds (TDFs). He emphasizes the need for well-crafted IPS sections specifically for TDFs, cautioning against over-reliance on custom benchmarks that often fail to provide meaningful comparisons. Eric likens TDF evaluation to a fruit salad, underscoring the complexity of assessing multiple funds with varying glide paths and strategies. He advocates for conducting a glide path determination to align the TDF's risk level with plan demographics and participant needs, whether conservative or aggressive. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
David White & Raechel Peters: Solving Employee Financial Stress with Smart Voluntary Benefits 36:04

25 дней назад36:04

36:04

In 1989, entrepreneur and sales professional David White began using payroll deductions through his successful companies, The Corporate Shoe and Corporate Warehouse Club. He operated seven employee stores at major companies like Texas Instruments, Lockheed Martin, and Frito-Lay and sponsored sales at Fortune 500 companies nationwide. In 2002, he applied this model to onsite sale events at over 40 major hospitals in the southern U.S., making them top fundraising activities. His extensive experience in retail and payroll purchasing has given him deep insight into buying preferences and trends. With letters of recommendation from nearly every key account he has ever managed, David’s work ethic and genuine interest in satisfying the customer have translated into long-term relationships. Raechel Peters is the President of BenefitsMe, a company focused on enhancing financial wellness in employee benefits through its Employee Purchasing Assistance Program. A strategic leader, Raechel has been instrumental in shaping the company’s strategy, driving growth, and delivering exceptional experiences for both clients and users. With a strong background in leadership, marketing, operations, and strategic planning, she is dedicated to advancing innovation in the employee purchasing space and expanding access to financial wellness solutions. In this episode, Eric, David White, and Raechel Peters discuss: Financial Stress is Widespread BenefitsMe Offers a No-Interest Solution for Necessary Household Purchase Items Easy Implementation and Low Risk Versatile Benefit Across Income Levels Financial Wellness and Financial Literacy Program Included Key Takeaways: 67% of Americans are worried about the cost of living, 77% live paycheck to paycheck, and 97% of employees spend time worrying about personal finances at work. The program allows employees to purchase essential items (like appliances, electronics, and travel) through payroll deduction with 3-12 month terms and zero interest, helping them avoid high-interest debt. The program requires minimal effort to set up (4-6 hours), comes with a free financial wellness module, and the company assumes the risk if an employee terminates before paying off their purchase. The program is beneficial for employees across all income brackets, not just low-wage workers, as personal financial challenges can affect anyone regardless of salary. “One thing that really ensures that it's going to be a successful launch and a successful partnership is communication with the program sponsor and our team.” - Raechel Peters Connect with David White & Raechel Peters: Website: https://benefitsme.com/ Email: davidwhite@benefitsme.com , raechelpeters@benefitsme.com Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #52 - Is the IPS a "Plan Document?" 8:02

30 дней назад8:02

8:02

In this episode of Friday Fiduciary Five, Eric talks about the importance of the Investment Policy Statement (IPS) as a plan document under ERISA. He references Interpretive Bulletin 2016-1, which clarifies that the IPS is a written guideline for fiduciaries, essential for maintaining plan investments. Eric emphasizes that drafting an IPS is a fiduciary act and must be adhered to unless it would be imprudent to do so. He cites a quick example of when that may not be prudent or appropriate in the case of a well-funded pension plan preparing to terminate which may want to have all assets in cash or other instruments for preservation of capital.. He advises against NOt having as IPS, as it provides a roadmap for fiduciaries, ensuring compliance with ERISA and maintaining prudence and loyalty in investment decisions. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Chelle O'Keefe and Janine Moore: The Right Enterprise Benefit Strategy and The Right Partner 43:56

5 weeks назад43:56

43:56

Chelle O'Keefe, SPHR is a seasoned HR executive with over 20 years of experience, specializing in fostering growth and vibrant workplace cultures. As Chief People Officer at Platinum Dermatology Partners, she drives initiatives that build cohesive cultures, optimize processes, and elevate company results. Previously, as EVP and CHRO at Associa, Chelle championed innovative HR methodologies and diversity initiatives, significantly reducing employee turnover and increasing leadership diversity. She holds a BS in Psychology from Texas A&M University and an MS in Industrial/Organizational Psychology from Capella University. Passionate about creating workplaces where people thrive, Chelle’s expertise spans HR, change management, training, and marketing strategy. Janine Moore, AIF®, CPFA, CFS has over 25 years of financial services experience. She co-founded Peak Financial Group in 2002 and served as Principal until the HUB International acquisition in 2019. Janine specializes in 457(b) and 401(a) governmental deferred compensation plans and served as the City Director for the City of Houston’s deferred compensation plan for six years. Recognized as a Top Women Advisor All Star and Captain, she has led professional and non-profit organizations committed to improving lives and promoting women in business. Janine holds a BA in Journalism and Public Relations from The Ohio State University and multiple registrations through LPL Financial. She is also registered with Global Retirement Partners as an Investment Advisor Representative. A proud veteran, she served as a Staff Sergeant with the Ohio Air National Guard and received the Air Force Achievement Medal. In this episode, Eric, Chelle O'Keefe, and Janine Moore discuss: Benefit philosophy matters Building trust and partnership The potential for underutilized plans Building trust and transparency Simplify and educate Key Takeaways: Companies should intentionally develop a clear benefit philosophy that reflects their goals, demographics, and employee needs, rather than just maintaining a status quo plan. Successful service provider relationships are built on more than just expertise - they require listening, education, transparency, and the ability to have difficult conversations. Even seemingly neglected or underutilized 401(k) plans can be transformed through collaborative efforts, persistent advisors, and a commitment to participant outcomes. Financial professionals should focus on simplifying complex concepts, seeing the potential in plans, and educating clients in a way that doesn't make them feel overwhelmed or inadequate. “We are the reflection of all of the people that we spend the most time with.” - Chelle O'Keefe Connect with Chelle O'Keefe: LinkedIn: https://www.linkedin.com/in/chelleokeefe/ Connect with Janine Moore: LinkedIn: https://www.linkedin.com/in/janinejeffersonmoore/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #51 - A Few of My Favorite Things - Revenue Share and Participant Fee Disclosures 13:26

5 weeks назад13:26

13:26

In this episode of Friday Fiduciary Five, Eric Dyson talks about Field Assistance Bulletin 2012-02R, focusing on participant-directed accounts and disclosure regulations (404(a)-5). Eric points out some details that are not commonly understood by many advisors and plan fiduciaries. He emphasizes the need for clear, understandable fee disclosures to participants, particularly those using revenue share or per capita fees. Eric highlights that fees must be expressed in terms a typical participant can understand. He provides examples from the bulletin, such as explaining legal expenses and record-keeping costs. Eric advises plan sponsors and advisors to collaborate and consult legal counsel to ensure compliance with these disclosure requirements. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
Jason Levy: The ABCs of CITs 24:51

6 weeks назад24:51

24:51

Jason is a key advisor at Great Gray Trust Company, specializing in CIT eligibility and investment-related matters. He negotiates agreements with plans, subadvisors, and service providers. Previously, Jason spent 13 years at Covington & Burling LLP, focusing on ERISA investing and policy issues. Committed to retirement policy, he has a proven track record of legislative and policy changes. Jason holds a JD from Columbia University and a BA from the University of Pennsylvania. He serves on the Pension Rights Center Board and frequently speaks at industry events, shaping the future of retirement planning. In this episode, Eric and Jason Levy discuss: The growing popularity of CITs Regulations involving CITs CIT availability Why fiduciaries should consider CITs Key Takeaways: Collective Investment Trusts (CITs) are growing in popularity as a cost-effective alternative to mutual funds for retirement plans, offering similar investment strategies at lower costs. CITs are regulated under a regime tailored specifically for retirement plans, providing enhanced investor protections compared to mutual funds. Historically, CITs were only accessible to the largest retirement plans, but minimum investment requirements have decreased, making them available to smaller and mid-sized plans as well. Plan fiduciaries and advisors should consider adding CITs to their investment lineups, as the cost savings can significantly impact participant retirement outcomes over time. “Even in the small plan market, CITs are available, even the smallest plans through those aggregators would be able to access CITs. Regardless of the size of your plan, CIT should be on your radar.” - Jason Levy Connect with Jason Levy: Website: https://greatgray.com/ Email: jason.levy@greatgray.com LinkedIn: https://www.linkedin.com/in/jason-levy-19783a17/ Great Gray Trust Company, LLC Collective Investment Funds (“Great Gray Funds”) are bank collective investment funds; they are not mutual funds. Great Gray Trust Company, LLC serves as the Trustee of the Great Gray Funds and maintains ultimate fiduciary authority over the management of, and investments made in, the Great Gray Funds. Great Gray Funds and their units are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933, respectively. Investments in the Great Gray Funds are not bank deposits or obligations of and are not insured or guaranteed by Great Gray Trust Company, LLC, any bank, the FDIC, the Federal Reserve, or any other governmental agency. The Great Gray Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the Great Gray Funds. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #50 - A Few of My Favorite Things - Per Capita or Pro Rata? 10:48

6 weeks назад10:48

10:48

In this episode of Friday Fiduciary Five, Eric Dyson talks about the Department of Labor Field Assistance Bulletin 2003-03, which provides guidance on how to allocate plan expenses among participants. He discusses that plan sponsors should consider writing checks for plan expenses as an effective way to manage risks in regard to plan fees. Eric explains that per FAB 2003-03 ERISA does not specify a method for fee allocation, giving fiduciaries considerable discretion. He stresses the need for a deliberative process to weigh competing interests and ensure the method chosen is solely in the interest of participants, provided it has a rational basis. Eric also warns that methods unfairly benefiting committee members could raise prohibited transaction issues. He advises reviewing this bulletin in upcoming committee meetings. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Patrick Williams: Fiduciary in a Box 37:54

7 weeks назад37:54

37:54

Patrick Williams has over 39 years of experience in retirement and employee benefits consulting. As the co-founder of Fiduciary in a Box®, he has created a cloud-based solution to help employers manage their fiduciary responsibilities effectively. With his deep understanding of the Consolidated Appropriations Act of 2021, Patrick offers invaluable insights to ensure compliance with evolving regulations for ERISA health plans. Patrick earned a Bachelor of Arts in Finance from the University of Minnesota and holds the Accredited Investment Fiduciary® (AIF®) designation. He has served as president of the Minnesota Association of Health Underwriters and is a founding member of the Minnesota and Florida Fiduciary Roundtables. A dynamic speaker, Patrick simplifies complex topics for his audience, making his presentations both educational and impactful. He is dedicated to guiding organizations toward achieving fiduciary excellence. In this episode, Eric and Patrick Williams discuss: Comprehensive solution for fiduciary responsibilities Critical coverage areas for health plans and retirement plans Who can benefit from Fiduciary in a Box? Establishing repeatable processes as a manager Key Takeaways: Fiduciary in a Box is a comprehensive solution that helps you manage fiduciary responsibilities for both retirement and healthcare plans, providing a repeatable process and documentation. The platform covers critical areas such as governance, risk management, vendor relationships, and compliance with regulations like the Consolidated Appropriations Act (CAA). Fiduciary in a Box can be leveraged by various professionals, including employee benefits consultants, retirement plan consultants, and organizations focused on addressing healthcare cost and transparency challenges. As a young benefit manager, you can use Fiduciary in a Box to establish a repeatable process, evaluate vendor relationships, and communicate your organization's commitment to managing costs and compliance to participants and committees. “We've created a solution that you can manage both of those responsibilities: retirement plan, and health care, with one product, which is fiduciary in a box.” - Patrick Williams Connect with Patrick Williams: Website: https://www.fiduciaryinabox.com LinkedIn: https://www.linkedin.com/in/corporatefiduciary/ | https://www.linkedin.com/company/fiduciaryinabox/?viewAsMember=true Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #49 - Plan Forfeiture Lawsuits - Part 2 7:22

7 weeks назад7:22