In our fast-paced world and ever evolving global financial markets, keeping your 401(k) investment menu consistent with the times can be challenging.  As the conversation swings to investments with a focus outside the US, the conversation can get complex and downright confusing!  With that in mind, Mike Quinn, Senior Client Portfolio Manager at OppenheimerFunds joins me this week to discuss the current state of the global markets, some pros and cons of international investing and his thoughts on whether workplace retirement plans here in the US have developed a home country bias over the years.  Additionally, we tackle what a global vs. international fund is, some basics on on currency hedging and its potential impact on mutual fund returns and whether the reputation international investing has been tagged with as “high risk” is deserved!

Guest Bio

Employers and Retirement Plan Fiduciaries have the difficult task of selecting retirement plan advisors. The names and titles alone can be incredibly confusing! Of the 100,000 practicing advisors, 3,000 are active in the retirement market and may be considered "DC Specialists" as my guest Robin Green, SVP & Head of Data & Analytics at Ann Schleck & Company | Fi360 would call them.  She breaks down DC specialists into three sub-categories: The Broker, the Cowboy, and the Consultant. 

Additionally, we discuss:

• Three types of fiduciaries and what it means when an advisor claims 3(21), 3(38), and participant level fiduciary status.
• Three important questions to ask your current advisor in light of the new DOL rule.
• Weighing the difference between cost and value, and
• How model portfolios, retirement solutions, fees and expertise should be considered while benchmarking and selecting advisory services. 

Episode Guest

Robin Green is Senior Vice President and head of Data & Analytics at Ann Schleck & Co., an Fi360 company.  She is responsible for the proprietary databases that track on DC Specialist advisor practice management, fee, service and overall business trends.  She is responsible for the Fee Almanac®, Fee Benchmarker®, IRA Fee Evaluator and the FI360 Fiduciary Score.  Robin specializes in developing useful patterns, ideas and insights based on data and more than 20 years of retirement industry experience.  She is a research board member at DCIIA and a frequent speaker at industry conferences.  Robin has a BA from Concordia University where she graduated Summa Cum Laude.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over seventy prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

When I ask employers if they have the information they need on the soon to launch state run retirement plans, I get reactions that range from "What state plans?" to "Great, sounds like another scheme to fix the mess with their pension plans!" These and other responses I have gotten haven’t given me a lot of confidence that information, much less accurate information, is filtering down to employers about these programs. With Oregon launching OregonSaves on July 1st, 2017 and many others likely to follow, I thought it might be a good time to revisit the topic! 

I was excited to have Katie Selenski, the first Executive Director of California Secure Choice, the new state sponsored retirement plan for private sector workers in California join me on the 401(k) Fridays Podcast! During our conversation, we start with the basics of why California and other states are launching retirement plans, then move onto some recent developments on the federal level and how states plan to digest them and give Katie an opportunity to address some of the questions, misperceptions and concerns surrounding the California plan. 

If you have employees in California, you should definitely check this out. If you don’t, well, there are over thirty other states that are in the process of launching retirement plans so much of what we talk about will likely apply!

Guest Bio

In April 2017, Katie Selenski was appointed by California State Treasurer John Chiang to serve as the first Executive Director of the pioneering California Secure Choice Retirement Savings Investment Board, which governs the Secure Choice Program. The program will provide a path to retirement security for the seven million Californians who currently lack access to a retirement savings account via their employer, by allowing workers a simple, low cost way to save their own money and participate in professionally managed investments.

Prior to taking the helm at Secure Choice, Ms. Selenski was the State Policy Director for public pension policy at The Pew Charitable Trusts in Washington, D.C., where she managed Pew’s efforts to help fiscally distressed states and cities undertake data-driven pension system improvements. Previously, she was a senior manager with the nonpartisan public sector consulting firm Harvey M. Rose Associates, based in San Francisco, where she advised policymakers on a wide array of budget, management, and policy matters, including pensions. Previously, she worked as a municipal bond rating analyst, a legislative fellow in the California Assembly, and the director of an historic statewide nonpartisan youth voter turnout initiative. Ms. Selenski has previously served on the boards of multiple nonprofit organizations.

She is a graduate of the University of Chicago and the John F. Kennedy School of Government at Harvard University.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over seventy prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

I'll have to admit, when I first heard of Don Barden and the "Perfect Plan" I was pretty skeptical.  What does "perfect" mean?  Who gets to judge "perfect"?  My analytical mind was going crazy.  However, as I became more familiar with Don and the concepts and elements he believes in, I felt it definitely made sense to bring him onto the podcast.  My hope is that you will take away a few kernels of knowledge to help you rethink what retirement means along some motivation and inspiration!

 Guest Bio

Don Barden is a classically trained economist who earned his M.B.A. in Global Technology Management and International Business with an undergraduate B.B.A. in Economics and Finance. He is ABD in doctoral studies with a Ph.D. in Finance. He resides in Atlanta Georgia and is fluent in international business affairs.

Don’s work challenges and motivates people to think deeply about their beliefs, and reveals a plan to consistently achieve maximum communication and sales. His “unfair advantage” theories are revolutionary in today’s economy as he leads you on a journey that exposes the myth of modern sales and communication techniques. He awakens your creative energy, and identifies the path to cultural change.

Expertly mixing humor, academic capital, and time-tested systems, Don engages audiences through his highly personal and interactive speaking style. Don has the unique ability to break down toxic barriers and build an irresistible and motivated force of empowered team talent.

As an author, speaker, advisor and corporate executive, Don Barden’s counsel is highly sought after by some of the world’s most successful businesses. His experience and record-setting sales success have drawn him to corporate and political leaders who want to tap into his real-world experience in order to move their organization to higher levels of sales and cultural achievement.

Don personally averages over $1 billion in annual sales. He is highly noted for his ability to see “three sides” to every coin. He also serves as the past Board President for The Summit Counseling Center in Atlanta, Georgia, a unique multidisciplinary, multispecialty personal and family counseling center that provides over 8,000 hours of counseling each year.  Additionally, he is a leading advisor to several private schools, businesses and faith based organizations.

Don is also a passionate supporter of the US Military, especially the 1^st Ranger Battalion out of Hunter Army Airfield in Savannah, Ga., and is a Special Advisor to the Sua Sponte Foundation.  RLTW!

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over seventy prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

Debt impacts your employees ability to save for retirement, pursue other financial goals, their productivity and physical health!  You might be surprised to hear that based on Fidelity research, there are multiple generations and income levels that struggle with debt which might reframe some of your prior perceptions.  Probably most important though, Meghan shares a few ideas for employers who want to explore helping their employees manage, pay down and avoid future challenges with debt.  

Guest Bio

Meghan Murphy is a Director on Fidelity’s  Workplace Investing Thought Leadership team and is responsible for the development and delivery of data driven points of view on retirement savings and financial wellness trends. This work is leveraged by employers and their employees, advisors, policy makers and the media. Additionally, she is a media representative in the retirement space, helping to bring data based stories to life for the general public. Meghan has been with Fidelity since 2000 and has served in various leadership positions across the organization. 

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over sixty prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!