2022 Semi-Annual Meeting
January 10/11/12, 2022
THEME
REUNITING & EMBRACING CHANGE FACE to FACE IN TAMPA BAY
THEME & BACKGROUND - MEETING PLANNING COMMITTEE - VENUE - AGENDA - HOTEL
BACKGROUND
Retirement Plan Sponsors emerge from the Great Resignation facing pressure to attract and retain top talent across the board. Pressure on the supply chain is leading employers to offer broader benefits menus and enhanced flexibility to support the customization of benefits to meet the personal needs of each and every contributor. Niche benefits such as student debt remediation and assistant with dependent care are in high demand. Demonstrating support for workforce inclusion and diversity is critical to maintain a growing and vibrant talent pool.
Benefits other than retirement plans, and corporate strategy are getting priority. Competition for the time and attention of Benefits and HR professionals is becoming stiffer for retirement plan advisors and service providers. Well-being, wellness, and financial wellness in particular are receiving increased attention; the contribution of retirement plans to the well-being of participants is getting more play than ever.
With the expansion of the scope of services to include all sorts of financial wellness benefits (e.g., student debt remediation, Health Savings Accounts, saving for emergencies and for retiree health, etc.), advisor teams need to acquire talent with new skillsets, new capabilities, and technology. The size and composition of advisor teams is changing New talent is charged with functions now essential that few teams performed pre-pandemic: digital delivery of financial wellness counseling, support for wellness reward programs, HSA integration, data cyber security practices monitoring to name a few.
The generation of advisors entering the profession holds views on the essential functions of a retirement plan advisor at odds with the precepts taught by more traditional peers. Competition is forcing service models to change. Ubiquitous plan sponsor and participant reliance on handheld devices and apps for communication is forcing delivery systems to change.
In the era of personalized approaches, data drives the system. Much of the data enters retirement plan recordkeeping systems from payroll platforms, or from participants themselves, as they take ownership of their account. Necessity during the pandemic has demonstrated the effectiveness of just-in-time targeted communications over campaigns; managed accounts considering the risk tolerance and personal circumstances of participants are becoming more commonplace, plan sponsors in some market segments now expect digital-only recordkeeping platforms. In the digital era, fraud and cybercrime prevention are becoming key considerations, and state legislators start paying attention to privacy concerns.
Change is everywhere. In the small employer market, state mandates and the possibility of a federal mandate spur start-up plan creation. Among larger plans, audit costs (within budget or not) become an important factor in plan sponsor decisions to join a pooled plan or to maintain a single employer plan. New options for enhanced fiduciary and outsourced services appear, with sometimes a lower overall cost of operating a plan. Sponsors and participants are looking for new options in investment styles, management, and in-plan retirement income distribution.
In this context, the Retirement Advisor Council is getting together in-person once again in January 2022 to collaborate on an action plan to enhance plan and participant outcomes as we emerge from a long period of isolation.
MEETING PLANNING COMMITTEE
Co-Chairs
Michael H. Gouldin CRPC®, AIF® – Gouldin & McCarthy, LLC
Steve J. Smith - AIG Retirement Services
Members
Michael A. Coelho C(k)P®, AIF® – SageView Advisory Group
Tom Conlon – Morgan Stanley
Colin M. Clark AIF® C(k)P®, CBFA, CPFA™ – Washington Financial Group
Melissa Cowan – Special Consultant
Glenn Dial – American Century Investments
Kevin Eknaian, CIMA® ,CRPC® ,C(K)P® – American Century Investments
John Erickson, AIF® – Securian Financial Group
Derek Fiorenza C(k)P®, CPFA™, AIF®, PPC™, MSBA – Summit Group Retirement Planners
Tommy B. Ford C(k)P® – The Gibson Group at Morgan Stanley Wealth Management
Jessica Fox - Prudential Retirement
Taylor S. Garlesky – Charles Schwab Retirement Services
Jeb Graham, CPFA™ ,CEBS® ,CIMA® – CAPTRUST Financial Advisors
Chris Graves - CUNA Mutual
Keith Gredys JD, CTFA, AIF® – Kidder Benefits, LLC
C. Andrew Harbour CFP® CIMA® – Morgan Stanley Graystone Consulting Atlanta
Paula A. Hendrickson CFP®, C(K)P®, CBFA® – NFP Retirement Division
Rob Jennings AIF® – Zions Bancorporation
Zak Koch, AIF®, CRPS® – Franklin Templeton
Robert A. Massa, ChFC®, CEBS®, CPFA™ , AIF®, CBC – Qualified Plan Advisors
Josh Mott, PRP – The Mott Group at Graystone Consulting Morgan Stanley Wealth Management
Daniel J. Peluse AIF®, C(k)P®, CBFA®, CRPS® – Wintrust Wealth Management
Troy L. Redstone CFPA®, AIF®, CFEI® , CBFA® – PHD. Retirement Consulting
Craig Rosenthal - Fiduciary Decisions
Diane Rzepecki, AIF® – Franklin Templeton
Peggy Santhouse - John Hancock
Timothy M. Schannep CFP® - Retirement Wealth Partners, LLC
Scott L. Schlappi CEBS®, CPFA™, AIFA® – Wealth Plan Advisors
Ryan Schutty – Principal Global Advisors
Adam Sokolic – HUB International
Alan Spierer – UBS Institutional Consulting Group
Vincent Vicidomini – Mesirow Financial
Venue
Marriott Tampa Water Street
505 Water Street
Tampa, FL 33602
AGENDA
Monday, January 10
| 2:00 p.m. - 5:00 p.m. |
PRE-EVENT COMMUNITY BUILDING ACTIVITY
Metropolitan Ministries cares for the homeless and those at risk of becoming homeless in the Tampa bay community through services that alleviate suffering, promote dignity and instill self-sufficiency… as an expression of the ongoing ministry of Jesus Christ. Between meeting the needs of residents and supplying meals for Community Partners, the kitchen of Metropolitan Ministries can make as many as 3,000 meals in a day. Volunteers may be used to prep food and clean the kitchen as a part of this opportunity. In addition, some volunteers may support the residential life staff members to do temperature checks of staff and residents, as well as giving masks as needed, or assist the team at the Clothing Warehouse processing and sorting donations. These donations are then sent to our community clients in need or to our Thrift Store to sell and fund our community programs. COVID-19: In response to the health & wellness of clients and volunteers, Metropolitan Ministries follows all CDC guidelines for social distancing, sanitation, and masks while volunteering. As such masks are required for all volunteers and if you do not have one, one will be provided for you. Dress Code: Please be sure to wear CLOSED-TOE SHOES, and a shirt with sleeves (jeans and short sleeve t-shirts are great; no tank tops). Find out more and register HERE for the pre-event community building activity (maximum 15) |
| 6:00 p.m. | PRE-EVENT DINNER at AMERICAN SOCIAL |
Tuesday, January 11
| 8:30 - 9:00 a.m. |
WELCOME GOALS AND OBJECTIVES Troy L. Redstone, CFPA®, AIF®, CFEI® , CBFA® | PHD. Retirement Consulting Florida Salons IV-V-VI |
| 9:00 - 10:00 a.m. | OPENING SESSION - FROM THE BOARD – FUTURE OF THE BUSINESS AND ORGANIZATIONAL DIRECTION |
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Board members: Troy L. Redstone, CFPA®, AIF®, CFEI® , CBFA® | PHD. Retirement Consulting Florida Salons IV-V-VI |
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| 10:00 - 10:15 a.m. |
Refreshment Break |
| 10:15 - 11:15 a.m. | ROUNDTABLE DISCUSSIONS |
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Breakout 1 - Scaling the Practice and recruiting new talent for advisor team positions Moderator: Jeffrey Cullen, MBA | Strategic Retirement Partners Panelists: Courtenay V. Shipley, CRPS®, AIF®, CPFA™ | Retirement Planology, Inc. Florida Salons I-III |
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Breakout 2 – Please tell me: How am I doing? Am I financially well? Scores and indicators of financial wellness beyond retirement readiness are all the rage. Plan participants want to know how well or poorly they are doing financially, overall. They are getting an answer from financial wellness platforms, and taking action to get better. Aggregated information helps plan sponsors understand the situation and needs of participants and guide plan and benefits decisions. Scoring approaches vary; the selection of one approach over another impacts sponsor decisions, the economics of the retirement plans business, and potentially, the advisor and recordkeeping service provider business models. Participate in a robust dialogue of scoring approaches and implications.Co-Moderators: Mark Hamilton | Empower Retirement Panelists: Joe Smith | John Hancock Florida Salons IV-V-VI |
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Breakout 3 – What partnerships will drive success for YOU? What are you good at and passionate about? Your strength and area of focus (Fiduciary issues, financial wellness, or plan design/compliance) will lead you to lean more heavily on certain types of partnerships (attorneys, CPAs, HR associations, trade groups, TPAs, payroll providers, recordkeepers, current clients). Hear new ideas, discuss your ideas with practitioners with a successful history of nurturing and harnessing partnerships to develop retirement plans business. Moderator: Keith J. Gredys JD, CTFA, AIF® | Kidder Advisers, Inc. Meeting Room 1 |
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| 11:20 - 12:15 p.m. |
PROJECT WORKSHOPS – VIEWPOINT EDITORIAL BOARDS |
| SESSION EB2: VIEWPOINT on MEP, PEP, GOPs Editorial Board Session Chair Courtenay Shipley |
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| SESSION EB3: VIEWPOINT on RETIREMENT INCOME Editorial Board Session Chair: Jeanne Fisher | Strategic Retirement Partners |
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SESSION EB4: VIEWPOINT on FINANCIAL WELLNESS FOR MATURE WORKERS |
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| 12:15 p.m. |
LUNCH BREAK |
| 1:00 - 1:30 p.m. |
FINANCIAL WELLNESS AWARDS Florida Salons IV-V-VI Moderators: Chris Geddie | Milliman Award Recipient: The Mentholatum Company Andrea Yakovac - Senior Human Resources Generalist |
| 1:35 - 2:35 p.m. | BREAKOUT SESSIONS – INVESTMENT MANAGER AND SERVICE PROVIDER STRATEGIC ISSUES ROUNDTABLES |
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Breakout 6 – Rapid Fire Q&A Session on Investment Management Products Moderator: Vince Vicidomini | Mesirow Financial Probers: Peter Barron | MFS Investment Management- Menu Construction Florida Salons I-III |
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| 2:35 p.m. |
Refreshment Break |
| 2:50 - 3:55 p.m. | COMMITTEE MEETINGS |
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ADVISOR TOOLS – Advisor Search RFP Template Courtenay V. Shipley, CRPS®, AIF®, CPFA™ | Retirement Planology, Inc. Florida Salons IV-V-VI |
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GOVERNMENT AFFAIRS – LEGISLATIVE AND REGULATORY The Terrace |
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FINANCIAL LITERACY AND FINANCIAL WELLNESS PROMOTION Florida Salons I-III |
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RESEARCH AND STRATEGIC ISSUES – Employer poll on plan advisor services (scope and team composition) Meeting Room 1 |
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| 4:00 - 5:00 p.m. |
GENERAL SESSION – NOW YOU SUE ME, NOW YOU DON’T! ERISA LITIGATION CASE-IN-POINT |
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The goal is to enhance retirement outcomes for plans and participants. Council members do their job with integrity. Successful plans, service providers, investment managers, and advisory firms that become large enough come under attack. We will discuss recent and upcoming court rulings, legislation and regulations to examine the principles and framework under which the industry operates (e.g. SECURE Act 1 and 2, fiduciary regulation, other regulations, and litigation.) |
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Moderator: Jeb Graham, CPFA™, CEBS, CIMA® | CAPTRUST Financial Advisors Florida Salons IV-V-VI |
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| 5:00 p.m. |
ADJOURN |
| 6:00 p.m. | DINNER RECEPTION at MALIO'S PRIME STEAKHOUSE |
Wednesday, January 12
| 7:30 a.m. |
Continental Breakfast |
| 8:00 - 9:00 a.m. | GENERAL SESSION – NUMBER INSPECTORS TELL ALL: #WINYOURPLANAUDIT |
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Retirement plan audits have been described as a necessary evil and have received an overhaul starting with the 2021 plan year. If you have clients with audited plans, join us to hear about upcoming changes to audits, how to help your plan sponsors best prepare, MEPs, PEPs and 3(16) (oh my!) from the auditors' perspective, how to help your clients get applicable information out of an audit, and how advisors and auditors can work together. We'll save time for your burning questions, too. Moderator: Courtenay V. Shipley CRPS®, AIF®, CPFATM, CEPA, CHSA® | Retirement Planology Panelists: Jillian Orr CPA | Warren Averett Florida Salons IV-V-VI |
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| 9:05 - 10:05 a.m. | BREAKOUT SESSIONS |
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SESSION EB1: VIEWPOINT on MANAGED ACCOUNTS Florida Salons IV-V-VI |
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Breakout 9 – Creative benefits solutions to meet the needs of a diverse talent pool Join your peers for a discussion of ways to create value for clients outside our usual swim lane. The Great Resignation leads plan sponsors to provide benefits that help recruit and retain top talent. The demand for flexible, personalized benefits that support the well-being of participants brings about a convergence of health and wealth benefits. If we are true retirement consultants and not just 401(k) advisors, we should talk about the power of HSAs, about solutions to pay down high interest debt and to save more for retirement. Advisors – and service providers – are called upon to deliver unique solutions…. for example to help participants negotiate student debt repayments (student loan advisory services). Should we be spending our time on this type of benefit? Executive benefit plans are gaining popularity again as the cost of replacing an executive escalates. Should we spend more time helping clients implement incentive plans to keep executives from moving around? There is tremendous value in these services. What is the place of these benefits in our respective practices and how do we support the demand? Florida Salons I-III |
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| 10:05 a.m. |
Refreshment Break |
| 10:15 - 11:15 a.m. | GENERAL SESSION – FIDUCIARY RISK TRANSFER STRATEGIES |
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Hear from a panel of in-house and outside legal counsels on the nuances of 3(16) and 3(38) Fiduciary Services Florida Salons IV-V-VI |
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| 11:15 - 11:30 a.m. |
KEY TAKE-AWAYS AND NEXT STEPS Florida Salons V-VI |
| 11:30 a.m. |
MEETING ADJOURNS |
| 11:45 - 1:45 p.m. | WORKING LUNCH MEETINGS |
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National Accounts / National Retirement Practice Leader Forum
This session is for the National Practice Leader College Is your firm prepared to address the demand for new products, enhanced services and changing technology while also ensuring compliance with new DOL changes? Does your firm have sufficient policies and infrastructure for offering services such as managed accounts, retirement income, financial wellness and wealth management participants? What is your firm's role and responsibilities with respect to engagement with participants? We will have an interactive discussion on these topics. Co-Moderators:
Melissa Cowan - Special Consultant
Sharon L. Schmid QPFC® | Robert W. Baird & Co.
Florida Salons IV-V-VI
Guest speaker: Jason Roberts | Pension Resource Institute
Advisor Membership Committee
Florida Salon I-III
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HOTEL
Marriott Tampa Water Street
505 Water Street
Tampa, FL 33602
Make your hotel reservation HERE
Or call (888) 789-3090
Reference the Retirement Advisor Council Semi-Annual Meeting to receive the special block rate of $269 per night not including taxes/incidentals. Reservations must be made by December 10, 2021 to receive the special room block rate.
