When we get the question of “What is the best strategy for me to save for retirement” and it comes for an entrepreneur, the answer is seldom as simple as it might seem. So, where and how do you start? We thought it would be helpful to cover a few key concepts and then follow the progression of an entrepreneur along their journey from a “solopreneur” with an idea or inspiration for a business to experiencing some success, hiring employees, scaling and eventually selling the business and weave in along the way how different retirement plan strategies could potentially support their personal and business goals along the way.
While I know some in our audience are not necessarily entrepreneurs, however I bet you know someone who is or maybe you might be one down the road! Be sure to share with your friends, colleagues or social networks that might have entrepreneurs, sole proprietors or business owners who could benefit! They can easily find the podcast on iTunes, their favorite podcast app by searching 401(k) Fridays or on the web at 401kfridays.com/Shelton.
Finally, This episode came about because of several questions from our listeners and some recent industry conversations I was a part of. If you have questions or a topic that you think could make for a great future episode, please shoot us an email to feedback@401kfridays.com.
Guest Bio
Patrick is the Managing Member of Benefit Plans Plus and has more than 25 years of retirement plan industry experience in banking/trust, insurance, and third party administrative environments. He is responsible for innovating and executing the firm’s business plan. Additionally, he specializes in financial advisor relations, including 401k sales prospecting presentations, vendor searches, and fiduciary consulting.
Patrick’s reputation as a nationally recognized industry thought leader has allowed him to give back through various platforms in the media, speaking at industry events, and participating on various panelist presentations.
Additionally, Patrick serves on the American Funds, Transamerica, and Lincoln TPA leadership roundtables. He is also a board member and past President of the National Institute of Pension Administrators (NIPA).
Patrick was the first recipient of Brown Smith Wallace’s prestigious Founder’s Award, which recognizes top employees for excellence in leadership and contribu on to firm growth since 2003.
A graduate of Westminster College in Fulton, Missouri, Patrick holds a Bachelor of Arts degree in Business/Committee Plan.
He has also earned the Group Benefits Associate (GBA) designation from the International Foundation of Employee Benefits Plans Certified Employee Benefit Specialist (CEBS) program. Patrick also holds a Life and Health Insurance License in the state of Missouri and is a member of the Financial Planning Association.
As a youth, Patrick had two separate basketball coaches that were former NBA players, and he also played college basketball. Patrick is also a fan of fantasy/ SIFI.
This is a pretty straightforward episode, Collective Investment Trusts, or CITs are more widely available as options for plan fiduciaries and their service providers to utilize in their investment line-ups, they are still misunderstood by many. To help inform the conversation I have Rob Barnett, Vice President of Wilmington Trust and Head of their Institutional Retirement Sales & Service. I am not going to spoil what the one question is that all retirement plans need to ask, but what you will hear is Rob has a great deal to say about what a Collective Investment Trust is, how they differ from mutual funds and helps dispel some common concerns and misperceptions employers and service partners have. In the current environment which is hyper sensitive to fees, we also discuss how CITs are many times able to offer lower fees for a similar investment strategy than the comparable mutual fund.
Guest Bio
Rob Barnett manages and provides leadership for the institutional retirement sales and service teams. Additionally, he is responsible for national and regional key account relationships. Rob is a subject matter expert in collective investment trusts, retirement advisory solutions, and trust and custody services.
He has over a decade of industry experience, with more than half of those spent with Wilmington Trust, N.A. focused on the institutional retirement services market.
Mr. Barnett earned a Bachelor of Arts degree in Finance from Washington State 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 one hundred prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!
Today is a real treat, not only is this a timely episode based on current market conditions but we welcome back Rob Arnott, the Founder & Chairman of Research Affiliates who manages billions of dollars and who for the third time, shares his insights with us on the podcast. If you have missed any of our prior conversations go check them out after you finish this one, in 2016 we talked about whether Third Pillar Investment Belong In Your 401(k) Plan, then in 2017 we talked about Avoiding the Bubble in Complacency and this year doesn’t disappoint. With the recent volatility in the financial markets, Rob shares his thoughts on interest rates, inflation, market valuations and how diversification is a double edged sword. We also hit on a few important topics such as smart beta, factor investing and the challenges that come with potential low investment returns in the future. I won’t steal his thunder, trust me this is a good one.
Guest Bio
Rob Arnott is the founder and chairman of the board of Research Affiliates. He is also portfolio manager on the PIMCO All Asset and All Asset All Authority family of funds and the PIMCO RAE™ suite of funds.
Over his career, Rob has endeavored to bridge the worlds of academic theorists and financial markets, challenging conventional wisdom and searching for solutions that add value for investors. He has pioneered several unconventional portfolio strategies that are now widely applied, including tactical asset allocation, global tactical asset allocation, tax-advantaged equity management, and the Fundamental Index approach to investing. His success in doing so has resulted in a reputation as one of the world’s most provocative practitioners and respected financial analysts.
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 one hundred prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!