Podcasts about cerulli associates

Send us a message!The Great Wealth Transfer will move $124 trillion by 2048, according to recent data from Cerulli Associates. But the most revolutionary aspect? Women will inherit approximately 70% of this unprecedented wealth transfer.Sylvia Kwan, PhD, CFA, CAIA - CEO and CIO of Ellevest - breaks down this seismic shift during our conversation, revealing that $54 trillion will go to surviving spouses (95% of whom are women) while another $46 trillion flows to younger generations. For many women, particularly those from older generations who delegated financial management to partners, this represents their first opportunity to independently control substantial assets.What makes this transition particularly fascinating is how differently these beneficiaries approach investing. Women typically view investing as a means to achieving specific financial goals rather than simply beating market benchmarks. Both women and younger generations seek investments that align with personal values and generate positive social and environmental impact alongside financial returns. There's also growing skepticism about the traditional 60-40 portfolio, with younger investors gravitating toward alternative investments, private markets, and technology-enabled platforms that offer greater personalization and control.Financial firms hoping to thrive during this transition must adapt accordingly. Beyond upgrading technology infrastructure to meet digital-first expectations, companies need to develop highly personalized offerings, expand beyond conventional stock-bond allocations, and create frameworks that help clients align investments with personal values. As Sylvia wisely advises, regardless of market conditions, success still comes down to fundamentals: create a well-diversified long-term plan and stick with it through inevitable volatility. Ready to prepare for this unprecedented wealth transfer? Listen now to gain invaluable insights that could reshape your approach to wealth management.If you'd like to learn more about the show, have a topic or speaker to suggest, or would like to leave us a comment, email podcast@cfa-sf.org. This podcast is produced by CFA Society San Francisco, a not-for-profit professional association, providing professional learning and career resources to over 13,000 investment industry professionals worldwide. To learn more about CFA Society San Francisco, visit our website or connect with us on LinkedIn.The information contained in this podcast does not constitute financial or investment advice. Please consult your own financial advisor for information concerning your specific situation.

Where do you turn for help in managing your practice? One resource that should be near the top of your list: a study group. Advisor study groups are among the top five most effective practice management resources, according to Cerulli Associates' 2023 US Advisor Metrics report. John Stadtmueller, Founder and CEO of advisor network Good Advisors Finish First, has spent over 20 years in the industry as an advisor, consultant and wholesaler at firms including LPL Financial and Charles Schwab. He dispels some common myths about study groups and details the steps to forming an effective one that can help all its members better manage their practices and serve their clients. For more, visit PracticeLab.com.

UMH is changing the world of wealth management, helping clients earn more and keep more through tax-smart, multi-account coordination. Many advisory firms recognize the benefits of UMH but often face challenges with its adoption. Having access to the right tools and technology solutions, however, best positions firms and advisors to increase assets under management. In this episode, Jack Sharry talks with Scott Smith, Director of Advice Relationships at Cerulli Associates and member of the CFP Board's Digital Advice Working Group. Scott has more than 20 years of experience in the financial services industry and leads Cerulli's research on investor behavior and advisory relationships. His research helps clients understand how to optimize their platforms. Jack and Scott discuss UMH, its core elements, and how it revolutionizes financial advisory services. Scott also unpacks his findings on UMH adoption, the challenges advisors face in its implementation, and the innovative solutions paving the way forward. In this episode: [02:05] - Implementing UMH [04:58] - The core elements of UMH [07:19] - Research methodology and findings on UMH adoption [13:09] - Asset location and its complexities [16:02] - Identifying and addressing barriers to UMH implementation [19:44] - The growing demand for retirement income solutions [23:02] - The future of asset location and income generation [25:31] - Scott's key takeaways [28:32] - Scott's interests outside of work Quotes [14:25] - "People are just getting overwhelmed by the number of accounts they have and the number of passwords they have. Anything we can do to make a client's life easier, bring those things together, and not have them worry about is a compelling story." ~ Scott Smith [25:43] - "Every tax optimization strategy is great, but it only matters if advisors use it. So, lack of adoption is the barrier to real impact." ~ Scott Smith [26:14] - "It (tax optimization strategy) has to be easy to understand. It has to be easier for advisors to use than what they're doing right now. And it has to be easy to explain the benefits to clients." ~ Scott Smith Links  Scott Smith on LinkedIn Cerulli Associates 55ip EY Vanguard Morningstar Envestnet Morgan Stanley Fidelity Investments Charles Schwab Kismet Improv Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

In episode 12 of the Alternative Allocations podcast series, Tony and Daniil discuss the greater focus on alternative investments by asset managers, the wealth management community, and individual investors. With the development of new structures and increasing access to these investment options, they consider the evolution of the industry and both foresee an ever-increasing adoption of alternative investments in the coming years. Daniil is a director of Cerulli's Product Development practice, where he works on the identification, analysis, and reporting of asset management industry trends with a focus on alternative investments. Prior to joining Cerulli Associates, Daniil was part of the Product Management and Business Intelligence teams with the MainStay Funds, part of New York Life Investment Management. At MainStay, Daniil supported sales efforts via fund and ETF competitive analysis, product research, and development of marketing materials, as well as performance reporting. Before New York Life, Daniil was part of the risk management practice at Accenture, and held risk and compliance roles at HSBC's investment bank. Daniil is a CFA® Charterholder and holds the FRM And CIPM designations. Daniil graduated from Baruch College with a B.B.A. in Finance and Investments. Daniil Shapiro, CFA | LinkedIn Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn

Our guest on the podcast today is Andrew Blake. Andrew is associate director of wealth management for Cerulli Associates. He is a member of Cerulli's Wealth Management practice, leading coverage of asset manager distribution strategy for products sold through financial advisors. With a focus on the wealth management landscape, Andrew assesses trends related to advisor use of investment products as well as their relationships with clients and varying practice types. Prior to joining Cerulli, Andrew worked at John Hancock Investment Management and a Boston-area RIA. He has a BBA in marketing as well as management and strategic leadership from Ohio University.BackgroundBioThe Cerulli Report: US Intermediary Distribution 2023The Cerulli Report: US Advisor Metrics 2023ResearchUS Broker/Dealer Marketplace 2023US RIA Marketplace 2023US High-Net-Worth and Ultra-High-Net-Worth Markets 2023US Retirement Markets 2023State of US Wealth Management Technology 2024AdvisorsThe Cerulli Edge: US Advisor“More Advisors Are Making the Move to RIA, Independent Models,” by Josh Welsh, investmentnews.com, Oct. 31, 2023.“The Role of the Retail-Direct Channel in a Growing Financial Planning Profession,” cfp.net, March 28, 2023.“Financial Adviser Shortage Looms, Cerulli Reports,” by Natalie Lin, planadviser.com, Jan. 16, 2024.“Asset Managers Embrace a Technology Arms Race,” cerulli.com, Oct. 27, 2022.“As Retirement Exodus Looms, Rookie Advisor Failure Rate at 72%, Study Finds,” by Ayo Mseka, insurancenewsnet.com, Feb. 12, 2024.OtherCreative Planning“Peter Mallouk: The Financial Advice Industry Is ‘Still Very Messy,'” The Long View podcast, Morningstar.com, March 26, 2024.Vanguard Personal Advisor SelectSchwab Intelligent PortfoliosiCapitalCase IQ

In this episode Bill speaks with Daniil Shapiro of Cerulli Associates to explore significant trends shaping the asset and wealth management landscape. Shapiro, with a background rich in risk management and product development, offers a comprehensive overview of the challenges and opportunities within alternative investments, ETFs, and the evolving demands of the advisory market. This episode not only addresses the intricacies of alternative investments and their place in retail and institutional portfolios but also underscores the necessity for innovative approaches to meet the changing needs of investors and advisors alike. Listen in!

Ben Phillips is Head of Asset Management Global Advisory Services at Broadridge Financial Solutions, based in New York, He has had a long background in consulting at firms such as Casey, Quirk, Deloitte and Cerulli Associates and has focused for much of his career on the dynamics and evolution of the asset management industry. I asked Ben here to let us look over his shoulder into his crystal ball to chart the future course of the asset management industry. First Ben draws on the experience of his career in asset management consulting which has spanned over a quarter century. We look at factors such as the: ·   Growing demand for customization of product ·   Generational changes and how this affects client demand ·   What role “mission or purpose” plays in this evolution of demand and what this means for sustainable investment solutions. ·   The evolution of Mutual Funds ·   The key role of data and data-driven approaches in the evolution of the industry. ·  What role AI will play and whether we will see the birth of the new, more intelligent robo-advisor? We look then at the evolution of asset management as a service industry rather than simply as a provider of product, and look at the importance of a dynamic client development function. Series 5 of 2023 is sponsored by With Intelligence, which connects investors and managers to the right people and data to raise and allocate assets effectively. The music in this podcast series – provided by Julia Kwamya – is available on her album on Spotify: Feel Good about Feeling Bad https://open.spotify.com/album/7lTQWSHeaVo3xHuF9q8ilv?si=uvGJZX7FQ9-2wX-0e951ZA&nd=1 Learn more about your ad choices. Visit megaphone.fm/adchoices

Ben Phillips is Head of Asset Management Global Advisory Services at Broadridge Financial Solutions, based in New York, He has had a long background in consulting at firms such as Casey, Quirk, Deloitte and Cerulli Associates and has focused for much of his career on the dynamics and evolution of the asset management industry. I asked Ben here to let us look over his shoulder into his crystal ball to chart the future course of the asset management industry. First Ben draws on the experience of his career in asset management consulting which has spanned over a quarter century. We look at factors such as the: ·   Growing demand for customization of product ·   Generational changes and how this affects client demand ·   What role “mission or purpose” plays in this evolution of demand and what this means for sustainable investment solutions. ·   The evolution of Mutual Funds ·   The key role of data and data-driven approaches in the evolution of the industry. ·  What role AI will play and whether we will see the birth of the new, more intelligent robo-advisor? We look then at the evolution of asset management as a service industry rather than simply as a provider of product, and look at the importance of a dynamic client development function. Series 5 of 2023 is sponsored by With Intelligence, which connects investors and managers to the right people and data to raise and allocate assets effectively. The music in this podcast series – provided by Julia Kwamya – is available on her album on Spotify: Feel Good about Feeling Bad https://open.spotify.com/album/7lTQWSHeaVo3xHuF9q8ilv?si=uvGJZX7FQ9-2wX-0e951ZA&nd=1

Tom O'Shea, a director at Cerulli Associates, explains why taxes and ESG are creating a surge of interest in direct indexing, a separately managed account product that has been around for 20 years. His research firm predicts a 12.4% growth in direct indexing assets, compared with 11.3% for exchange-traded funds and 3.3% for mutual funds. InvestmentNews hosts Jeff Benjamin and Bruce Kelly discuss a report from two academics that suggests $36 million of the $590 million that RIAs accepted in the first round of PPP loans last year went to firms that abused the program.

A recent study by global consulting firm Cerulli Associates found that nearly half of the private banks and wealth managers indicate that a lack of liquidity, high fees, and clients' risk aversion are the top concerns preventing them from increasing private investments within their clients' portfolios.The democratization of private assets faces several challenges. Are there ways to address these? On this latest podcast, FTAdviser deputy features editor Ima Jackson-Obot is joined by Nick Hyett, investment manager at Wealth Club and James Lowe, sales director - private assets at Schroders.The FTAdviser podcast is the podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues. Hosted on Acast. See acast.com/privacy for more information.

In the years ahead, financial advisors will need to be ready for the greatest generational transfer of wealth in American history. • Learn more at thriventfunds.com • Follow us on LinkedIn • Share feedback and questions with us at podcast@thriventfunds.com • Thrivent Distributors, LLC is a member of FINRA/SIPC and a subsidiary of Thrivent, the marketing name for Thrivent Financial for Lutherans.

According to Cerulli's research, “22% of wealth managers said consolidating to a unified managed household (UMH) is a significant priority, with half reporting it as a moderate priority for their firm moving forward.” This discovery is aligned with wealth managers shifting away from transactional brokerage relationships and prioritizing fee-based assets. The Unified Managed Household (UMH) goes further than the Unified Managed Account (UMA), which aggregates accounts at an individual level. The UMH takes into account not only the client's financial situation but also that of their entire household. This week, Jack Sharry talks with Matt Belnap, Associate Director of Retail Distribution at Cerulli Associates, about the latest research in household-level management. Cerulli is a financial services industry leader providing market intelligence and strategic business recommendations. Matt is involved in the development of research across various aspects of retail financial services, including wealth management, managed accounts, and product development. He is involved in creating nine Cerulli reports spanning three research practices and oversees The Cerulli Edge—U.S. Advisor quarterly publication. In this episode, Matt talks with Jack about key challenges managed account sponsors face, why clients should seek more holistic financial advice, and why the household-level approach will take time. Key Takeaways [01:18] - What does the research show about unified managed households? [03:42] - Cerulli's research philosophy. [07:57] - Key challenges managed account sponsors face. [11:53] - Points of entry for account openings. [16:03] - What will progress look like? [20:35] - What will it take for clients to seek more holistic advice? [23:57] - The power of tax-deferred. [25:25] - Matt's key takeaways. [27:33] - How Matt spends his time outside of work. Quotes [06:11] - “It's a complete reframing of the advisor-client relationship, and it's something that is going to be pretty important for these advisors as they look to differentiate their practices going forward.” ~ Matt Belnap [20:39] “I think there's questions for some of the firms that haven't begun anything yet of, ‘Where do we start? How do we even begin to begin? To move into doing something like this? How do you eat an elephant? One bite at a time, but where does that first bite go?' And I think that's something that a lot of firms are grappling with in terms of, ‘how does this happen?'” ~ Matt Belnap [26:56] - “Don't wait for the perfect time to completely flip to a household-level approach because it's not going to be there. It's going to have to be piece by piece.” ~ Matt Belnap Links Matt Belnap on LinkedIn Cerulli Associates Franklin Templeton Goals Optimization Engine (GOE®) | Franklin Templeton Merrill Lynch New York Life Insurance Northwestern Mutual Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

Andrew Blake is a Senior Analyst in the Wealth Management Division of Cerulli Associates. He works daily with asset management firms and their sales leaders. He joins the Internal Use Only podcast to preview the results from their 2023 Intermediary Distribution Trends Report. This report is focused specifically on retail sales and distribution trends and will be available in June 2023. Reach out to Andrew directly to learn more about Cerulli and to get access to the full report. ablake@cerulli.com https://www.linkedin.com/in/andrewwrightblake/

We are joined by Daniil Shapiro, Director of Product Development at Cerulli Associates, to discuss their new report commissioned by Guernsey Finance. The report explores the trends in domiciliation decision making amongst U.S. managers and private capital firms, and advises what they should look for in a prospective fund domicile.Follow Cerulli Associates on Twitter: @cerulli_assocFollow Cerulli Associates on LinkedInFollow Daniil on LinkedInFollow We Are Guernsey on LinkedInFollow We Are Guernsey on Twitter: @WEAREGUERNSEY

With the rise of the alternatives industry and illiquid alts, liquid alts and alternative ETFs have grown apace. But which type of alternative offers better value to the investor? Daniil Shapiro, director of product development at Cerulli Associates, returns to the show to discuss liquids alts and alternative ETFs, and how these compare to illiquid alts and intermittent liquidity products. Show notes: https://altsdb.com/2023/01/daniil-shapiro-083/

Financial markets have faced significant headwinds this year, some of which headwinds haven't been by investors in several decades. But the alt industry has barely skipped a beat, and a new whitepaper from Cerulli Associates details why the current moment may be ideal for alternative investments to shine. Daniil Shapiro, director of product development at Cerulli Associates, joins the show to discuss some surprising insights in his research on the alts industry. Show notes: https://altsdb.com/2022/08/daniil-shapiro-046/

Ed chats with Matt Apkarian, Associate Director, Product Development for Cerulli Associates, about the growth of model portfolios and the benefits they bring to both advisors and investors.

Finally, the much promised episode about ESG investing & retirement plans. Sorry it took so long, but it's definitely worth the wait. Joining me is Jessica Sclafani, director and defined contribution strategies for MFS Investment Management. We start with the not so simple task of defining ESG, then move to how it is being incorporated into retirement investment line-ups. Along the way, we cover a lot of new ground which should leave you with a better idea of how to navigate the conversation with your plan. I learned a lot, I hope you do as well!   Guest Bio Jessica Sclafani, CAIA, is a director and defined contribution strategist for the Investment Solutions Group at MFS Investment Management® (MFS®). Her responsibilities include leading defined contribution research and the firm's thought leadership agenda, as well as working extensively with the firm's client‐facing teams to represent MFS in the marketplace. Jessica joined MFS in 2019 in her current role. She previously spent five years at Cerulli Associates as director of US retirement research, where she was responsible for the US defined contribution and IRA markets. Before that, she served as an analyst on the US pensions team at Wellington Management Company for four years. Jessica earned a Bachelor of Arts degree cum laude from Boston College. She holds the Chartered Alternative Investment Analyst.   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 225 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!  

In episode 40 of Revamping Retirement, Jennifer Doss and Scott Matheson are joined by Shawn O'Brien, associate director of retirement research at Cerulli Associates, a strategic consulting and market research group focused on the financial services industry. With extensive research across industry stakeholders—from plan sponsors and participants to recordkeepers and asset managers—Shawn shares Cerulli's latest insights on key topics like the adoption of environmental, social, and governance (ESG) investing in retirement plans, plan sponsor reaction to inflation, and the prevalence of managed accounts. He also discusses what he considers to be the biggest disconnect between the demand and supply sides of the industry. Later, Mike Webb provides an overview of the taxation of Roth distributions in Minute with Mike.  

Margin Membership Sign-up: https://millennialmargin.com/learn/How are your finances doing? Take the quiz: https://i2tvdm52vbg.typeform.com/to/YFcT68CWAccording to projections from Cerulli Associates; “Between now and 2045, multigenerational wealth transfer in the U.S. will total $84.4 trillion, with $72.6 trillion in assets going to heirs and $11.9 trillion donated to charities,...”. Now I have seen the asset transfer number estimated for the last few years and it seems to only balloon further as time goes by. Now this is much to do with what we've experienced in economic growth through assets surging in value, but it's important to keep in mind that even at the current estimate–this is a significant topic of discussion that not many are actually discussing. Jared created Millennial Margin out of necessity, as he has watched countless people schedule-away, mortgage-up, and max-out their lives. Margin is simply the antithesis, providing leeway in an increasingly margin-less culture. Subscribe for daily tips and discussions about how to better manage your personal finances and, by extension, your margin. Listen to the podcast: https://margin.simplecast.com/ Have a question? Contact Jared at jared@millennialmargin.com Follow Millennial Margin: facebook.com/millennialmargin, instagram.com/millennialmargin1, or simply visit millennialmargin.com Goal/Disclaimer: My goal with [Margin] is to prepare you with the knowledge but then inspire you to act on that knowledge. My goal is to be in your corner bridging the gap between your trusted CPA, attorney, and financial planner. My advice is simply from my own personal experiences and is not meant to override or replace professional advice from your trusted investment professional. The content found here is for entertainment purposes only. #greatwealthtransfer #retirement #inheritance T7

Join Sophie Antal-Gilbert, head of portfolio and business consulting at Russell Investments, and Katherine Fleischmann, business solutions consultant at Russell Investments, as they focus on the transfer of wealth that is set to take place over the next 20 years, according to Cerulli Associates, and the potential opportunities this means for your clients, your practice, and your team.Disclosures:Interviews were recorded as of the date mentioned in the podcast, these views are subject to change at any time without notice based upon market or other conditions and are current as of that date. It is made available on an "as is" basis. Russell Investments does not make any warranty or representation regarding the information. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.This is not an offer, solicitation or recommendation to purchase any security or the services of any organization.Investing in capital markets involves risk, principal loss is possible. There is no guarantee the stated outcomes in the presentation will be met. The audio may contain forecasting or other forward-looking information, this information is inherently uncertain and may be incorrect.This is a presentation of Russell Investments. Nothing in this presentation is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The contents of this presentation are intended for general information purposes only and should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have.The information, analysis and opinions expressed herein are for general information only and are not intended to provide specific advice or recommendations for any individual entity.Russell Investments is the operating name of a group of companies under common management, including Russell Investments Canada Limited.This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments.Russell Investments' ownership is composed of a majority stake held by funds managed by TA Associates, with a significant minority stake held by funds managed by Reverence Capital Partners. Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.Frank Russell Company is the owner of the Russell trademarks contained in this material and all trademark rights related to the Russell trademarks, which the members of the Russell Investments group of companies are permitted to use under license from Frank Russell Company. The members of the Russell Investments group of companies are not affiliated in any manner with Frank Russell Company or any entity operating under the “FTSE RUSSELL” brand.Russell Investments Financial Services, LLC, member FINRA, part of Russell Investments.Copyright© 2022 Russell Investments Group, LLC. All rights reserved. This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments. It is delivered on an “as is” basis without warranty. First used:  January 2022. RIFIS-24532

Interview with Tom O'Shea – 0:30-19:15Direct Indexing 101.Factors driving the growth.Direct indexing as a way to get factor exposure or tilt.Who are the players and what's the special sauce?How big companies might change the game.Growth projections for direct indexing.Cost of direct indexing.PPP loans aftermath – 19:20-31:15 How many RIA firms took PPP loans, and for how much?The case against RIA firms using the PPP program.The degree of PPP fraud in the industry.Related article: Direct indexing indexing emerges as must-have tool for tax management, ESG investingRelated article: Advisers reportedly gouged PPP loans by $36 millionCerulli article: Improving Client Experience: Customizing with Direct IndexingGuest bio: Tom O'Shea, director of managed accounts at Cerulli Associates, has more than 20 years of experience in the financial services industry. Prior to joining Cerulli, Tom was an investment product manager at Fidelity's Global Asset Allocation Division, where he played a leadership role in the ongoing development of Fidelity Personalized Portfolios, Fidelity's Unified Managed Account (UMA) for retail customers. He also led the investment managers in creating the Breckenridge Municipal Portfolio, Fidelity's first separate account for consumers managed by a third party. Before working on the retail side of Fidelity, Tom built and led the team that developed Fidelity's Separate Account Network for registered investment advisors, and his group partnered with a third-party wrap sponsor to create Managed Account Resources, a UMA platform for RIAs.  

In this week's CXO, we invite Bing Waldert, Managing Director of U.S. Research at Cerulli Associates, to discuss key topics and trends shaping the future of wealth management. In a far-ranging discussion covering demographics, automation, and consolidation, Bing lays out what he believes lies ahead for the industry at large.Hear Bing's views on: Preparing for the next generation of advisors and clientsAcknowledging automation as a complement to – not a replacement of – in person serviceExploring key industry trends: how consolidation may have contributed to lower fees and higher expectations, and understanding the shift towards the hybrid RIA modelLooking beyond succession plans: 1 in 4 advisors plans to exit their business in the next 10 years. 8% of advisors plan to retire in the next 5 years. What more can firms do?Reaching the top – and staying at the top: the potential need to elevate client experience, such as providing access to alternative investmentsFollow Cerulli Associates:  Twitter, LinkedInFollow Bing Waldert: Twitter, LinkedInFollow CAIS: LinkedIn, Twitter, Facebook

Guest Bio Joshua Dietch is the group manager of Retirement Thought Leadership in Global Brand Marketing. Joshua is responsible for leading a team of researchers and writers who create retirement thought leadership in support of the firm's workplace retirement, intermediary, and institutional businesses. He also is a vice president of T. Rowe Price Associates, Inc. Joshua’s investment experience began in 1995 and he has been with T. Rowe Price since 2017. Prior to this, he was employed by Strategic Insight as head of Retirement and Institutional. He also was managing director with Chatham Partners, director of Product Marketing and Management with ADP Retirement Services, and associate director of Institutional Markets with Cerulli Associates.  Joshua earned a B.A. in history from Bates College. He is a Series 7 and 66 registered representative. Joshua is a member of the Defined Contribution Institutional Investment Association and its Retirement Research Center as well as a former member of its Executive Committee.   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 200 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

In a crowded financial advisory space, how can you stand out? To answer this question, Laura Gregg and David Partain welcome Devin Ekberg, chief learning officer and managing director of content development at Investments & Wealth Institute.  Listen to hear about the research that the Investments & Wealth Institute conducted with Cerulli Associates on three … Continue reading Ep 28: Standing Out Among Advisors — with Devin Ekberg →

One common question amongst employers during the COVID-19 pandemic has been how their employees have been reacting in their 401(k) plans. To delve through this, I am excited to welcome back Josh Dietch, VP of Retirement Thought Leadership at T. Rowe Price. During our conversation, we hit on a few of the obvious thinks like stats around investment and contribution changes, but quickly delve into some of the bigger challenges retirement savers face as a result of recent events. Josh also shares some eye popping numbers on the new CARES act provisions and how their clients are approaching them. Since we missed this point in our conversation, Josh is pulling his data and observations from the over 5,700 retirement plans and 2 million participants that T. Rowe Price works with.   Before we get started, if you have been enjoying the podcast please mention it to anyone you think would benefit from listening. If they already like podcasts, suggest they search 401(k) Fridays on their favorite podcast app, if they are new to podcasts, you might have to explain a few things to them. Guest Bio Joshua Dietch is a vice president of T. Rowe Price Associates, Inc., and the group manager of Retirement Thought Leadership. Joshua joined T. Rowe Price in 2017 and is responsible for leading a team of researchers and writers who create retirement thought leadership in support of the firm's workplace retirement, intermediary, and institutional businesses. Prior to joining the firm, he held a number of senior industry roles, including head of Retirement and Institutional with Strategic Insight, managing director with Chatham Partners, director of Product Marketing and Management with ADP Retirement Services, and associate director of Institutional Markets with Cerulli Associates. In addition to his current role at T. Rowe Price, Joshua is an Executive Committee member of the Defined Contribution Institutional Investment Association and is chair of its Retirement Research Board. He earned a B.A. in history from Bates College and is a Series 7 and 66 registered representative. 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 175 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

The post #ItzOnWealthTech Ep 37: Improved Views of Industry Data with Jean Sullivan appeared first on Wealth Management Today and was written by Craig Iskowitz. "We've developed methodologies that provide our clients with views on industry data that don't currently exist." — Jean Sullivan, Head of Research, Ezra Group Consulting Jean Sullivan has over 15 years of industry experience. She began her career with Cerulli Associates, then went on to launch her own firm, Dover Financial Research.  She patterned with […] The post #ItzOnWealthTech Ep 37: Improved Views of Industry Data with Jean Sullivan appeared first on Wealth Management Today and was written by Craig Iskowitz.

The post #ItzOnWealthTech Ep 37: Improved Views of Industry Data with Jean Sullivan appeared first on and was written by Craig Iskowitz. “We've developed methodologies that provide our clients with views on industry data that don't currently exist.” — Jean Sullivan, Head of Research, Ezra Group Consulting Jean Sullivan has over 15 years of industry experience. She began her career with Cerulli Associates, then went on to launch her own firm, Dover Financial Research.  She patterned with […] The post #ItzOnWealthTech Ep 37: Improved Views of Industry Data with Jean Sullivan appeared first on and was written by Craig Iskowitz.

Automatic enrollment has been a regular theme on the podcast, in fact when I first launched the podcast I got a little worried because we seemed to hit on it in nearly every episode regardless of the topic.  Today, I am excited to welcome back Josh Dietch, a Vice President with T. Rowe Price and the group manager of Retirement Thought Leadership. Without stealing too much of his thunder, Josh and his team have just released a very interesting and thought provoking report called “Auto-Enrollment’s Long-Term Effect on Retirement Savings”.  As you will hear, some assumptions we have made about the benefits of automatic enrollment hold up, but other conclusions they come to were eye opening and have made me rethink a few things.  You can find a link to the study, this week’s bonus question and the episode transcript at 401kfridays.com/trp2019.   Before we get started, ’tis the season to be thankful so on that note I want to thank all of my amazing guests on the podcast who have shared their time and expertise.  Also, thank you to all of our listeners.  I really appreciate the feedback, interaction on social media and sharing with friends.  As the podcast continues to grow, I look forward to a great 2020 with more new episodes, guests and topics.   Guest Bio Joshua Dietch is a vice president of T. Rowe Price Associates, Inc., and the group manager of Retirement Thought Leadership. Joshua joined T. Rowe Price in 2017 and is responsible for leading a team of researchers and writers who create retirement thought leadership in support of the firm's workplace retirement, intermediary, and institutional businesses. Prior to joining the firm, he held a number of senior industry roles, including head of Retirement and Institutional with Strategic Insight, managing director with Chatham Partners, director of Product Marketing and Management with ADP Retirement Services, and associate director of Institutional Markets with Cerulli Associates. In addition to his current role at T. Rowe Price, Joshua is an Executive Committee member of the Defined Contribution Institutional Investment Association and is chair of its Retirement Research Board. He earned a B.A. in history from Bates College and is a Series 7 and 66 registered representative. 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 175 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

A recent study commissioned by Charles Schwab and conducted by Cerulli Associates aims to help financial advisors incorporate behavioral finance into their practices. This podcast (5:50) argues that while behavioral finance provides interesting research opportunities for academics, the field remains something of a nothing-burger for most clients.

Americans are doing record time on the roads in traffic crawling to work. As many metros have developed by sprawl, public transit is not the answer. Solutions require behavior changes, including from employers. To increase employee happiness and retention, they need to flex on how and when you work. Allow employees to work from home at least 1 day a week. Depending on the job, work from home can be done most or all of the time. Often productivity is higher at home. Flex schedules are helpful for workers too, allowing workers to shift their hours to avoid heavy traffic. In congested cities, some are turning to electric-assist bikes, as cheap as $500, for bike lane commutes under 10 miles. Full commission stock brokers are often tied to giant monster mega-banks. Wells Fargo, BOA's Merrill Lynch, Morgan Stanley and UBS are the big 4. A recent study by Cerulli Associates found that these 4 overwhelmingly put their investors into high cost mutual funds. They are not bound by the fiduciary standard. Go to an independent fee-only financial advisor or a low-cost mutual fund company instead. When you allow an authorized user on your credit card, you're creating potential hardship for yourself. The user has no responsibility for the debt they rack up. Don't make these decisions lightly. We hear the consequences when things goes wrong. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, podcast host and author of “Control Your Retirement Destiny”, Dana Anspach, covers part 1 of Chapter 12 of the 2nd edition of the book titled, “Whom To Listen Too.” If you want to learn even more than what there is time to cover in the podcast series, you can find the book “Control Your Retirement Destiny” on Amazon. Or, if you are looking for a customized plan for your retirement, visit us at sensiblemoney.com to see how we can help.   Chapter 12 (Part 1) – Podcast Script Hi, this is Dana Anspach. I’m the founder and CEO of Sensible Money, a fee-only financial planning firm. I’m also the author of Control Your Retirement Destiny, a book that covers the numerous decisions you need to make as you plan for a transition into retirement. This podcast covers the material in Chapter 12, on “Whom To Listen To”. Meaning, when you need financial advice, who can you turn to? If you like what you hear today, go to Amazon and search for Control Your Retirement Destiny. And if you are looking for a customized plan, visit sensiblemoney.com to see how we can help. ----- Not everyone needs a financial advisor, but certainly everyone needs reliable financial advice. So where do you find it? That’s what I cover in this episode. There are three main places to find advice – the media, the product manufacturers, and the 250,000 to 350,000 people out there who go by the label “financial advisor.” I’m going to cover all three. First, the media. Early in my career in the mid 90’s, I had an experience that made me realize the impact of the media. A client called up one day, quite excited, and said, “Do you have municipal bonds?” “Yes,” I replied. “Why do you ask?” “Well,” she said, “they told me I need municipal bonds.” I was a bit confused, as I was her financial advisor, so I apprehensively said, “Do you mind telling me who ‘they’ are?” “Oh,” she said, “you know—the people on TV.” Municipal bonds provide interest that in most cases is free from federal taxes, and if the bond is issued by the state you live in, it may be free of state taxes too. That means municipal bonds can be a good choice for investors in high tax brackets who have investment money that is not inside retirement accounts. This client however, was in a low tax bracket and most of her money was inside her IRA. The TV host didn’t provide specifics—only an overview of municipal bonds and the fact that they paid tax-free interest. This woman heard “tax-free” and thought it must be something she should pursue. The media doesn’t know you. I don’t know you either. I get inquiries from strangers on a regular basis asking for advice. Most of the journalists and other media personalities I know experience the same thing. Someone emails us a few pieces of data and wants to know what to do. It’s hard, because we want to help. But we don’t want to guess. To feel comfortable giving financial advice, most of the time I need to do a thorough financial projection. To do it right, I need to know everything about someone’s financial life. Once I see the entire picture, I can answer a question about the particular puzzle piece someone is asking about. Today, the media encompasses both traditional venues, such as TV, radio and magazines, as well as numerous online mediums, like blogs and podcasts. In all forms of media, there are pay-to-play articles, spotlights and links. There is nothing wrong with the pay-to-play model, as long as it is disclosed. As a consumer, you just need to be aware that many things you see, such as certain top advisor lists, are put together because someone paid to be on the list. Many product endorsements in blogs are there because the blogger gets affiliate revenue, or advertising revenue. The other challenge with media advice is that, by nature, it is designed to be mainstream broad content. For eight years, I worked to write articles that fit within a 600-800 word count requirement. For most financial topics, you can’t cover all the rules in 600-800 words. Then I would receive emails from people letting me know which items I missed. For example, I can write about the topic of Roth IRAs and generically say that most people are better off funding after-tax Roth IRAs or 401ks instead of pre-tax IRAs, and as I write that I can instantly think of numerous exceptions. Media advice is not personal. That means you should think of it as education – but not as advice. For it to be good advice, it must be personal. By all means, use the media, books, podcasts, articles and shows as a great resource to learn from. But don’t forget that the person producing that content doesn’t know you. Next, I want to discuss the industry of financial advice. There is a big difference between a product and advice, and as a consumer, you need to be able to identify which is which. In 1995, at age 23, I started my career as a financial advisor. I studied for 60 days and passed an exam. I was granted a Series 6 securities license. I didn’t know much, and I didn’t know that I didn’t know much—but I was a financial advisor. This Series 6 license granted me the right to sell mutual funds. That meant I could legally collect a commission on sales. I went to work. I was lucky enough to have a mentor who taught me to make a financial plan for each client and then recommend products based on the results of the plan. But, I worked for a product company. My job was to sell their proprietary mutual funds and insurance products and I was paid based on what I sold. What if a client wanted advice on their 401(k) plan offered by their employer? I wasn’t supposed to provide that type of advice because it was outside the scope of the company’s offerings and outside the scope of the errors and commissions insurance. What is someone had tax questions? I was supposed to tell them to go talk to their tax advisor. As I learned more about the industry, I decided I wanted to be independent. I wanted to be able to recommend any product that fit the client’s needs. And I wanted to be able to answer questions on all aspects of their finances. Today, 25 years later, many financial advisors are still not independent. They carry an insurance license or securities license and are paid primarily to sell the products their company authorizes them to sell. What do I mean by product? I mean mutual funds, exchange-traded funds, mortgages, annuities and other insurance products. A company must produce it, make sure it complies with current laws, and then have a distribution channel to market the product. Some companies market directly to the public. Vanguard, who’s flagship product is mutual funds, comes to mind when I think of this type of distribution channel. Other companies market both to the public and through a network of advisors. Fidelity and Charles Schwab are two examples of companies who have their own products, and who distribute their products directly to the retail public as well as through a network of advisors. Then you have insurance products, which are generally marketed through a network of either captive or independent agents, or through brokers who also carry an insurance license. As an independent advisor, I receive solicitations almost daily from product manufacturers. I find many of them offensive. For example, although it has been almost 15 years since I have carried an insurance license, I routinely receive email offers explaining how I can make $50,000 or more in commissions next month by putting clients in the latest annuity offering. It is hard for me to believe that that the advisors out there who respond to these offers have their clients’ best interest in mind. In addition to products such as mutual funds and mortgages, you have service packages to choose from. For example, there are now online firms called RoboAdvisors who offer a platform where the investments are selected and managed for you for a fee. This service package is for investment advice. I like these service packages and I think they are better than product-oriented sales people. Yet, investment advice should not to be confused with holistic financial planning. A service that manages a portfolio for you is not the same as a financial planner who looks at your household finances and gives advice on all aspects of your balance sheet. Many financial advisors—and the media—place far too much emphasis on product selection and investment advice and far too little emphasis on financial planning. Think of it this way; you would probably find it odd if you went to the doctor, told them your symptoms, and without any examination they began to write you a prescription. This situation happens regularly with the delivery of financial advice. I hear war stories from consumers who come in to interview us. They tell me about advisors who began the conversation by touting their investment prowess, or talking about a variable annuity that can somehow both grow and protect your money at the same time. These advisors start off by talking about products instead of starting with a household view of the client’s finances. Financial planning is about how much you save, what types of accounts you contribute to, how you track your expenses and net worth, and how to set yourself up for success no matter what happens with the economy or the stock market. There is not a product out there that can solve a financial planning problem. Just as you can’t take a drug that overcomes the effect of a lifestyle of no exercise and unhealthy eating, you can’t find a magic investment answer to a habit of not planning and not updating your plan on a regular basis. Your key take-away is do not confuse a product recommendation with advice. If you can recognize the difference, you’ll be well on your way to being able to know who to pay attention to, and who to ignore. That brings us to the last topic, which is do you need a financial advisor, and if so, how do you find the right one for you? I am clearly biased when it comes to this topic. I am a financial advisor, and I own a firm that delivers financial advisory services. Thus, I would like to share someone else’s thoughts on this question. I’m fan of the online advice website Oblivious Investor (www.obliviousinvestor.com), written by Mike Piper. Mike also has a series of short cliff-note like books on various financial topics. In his book titled Can I Retire?, Mike states that “… most investors do not need a financial advisor if they’re willing to take the time to learn all the ins and outs.” But he adds that “as an investor gets closer to retirement the usefulness of an advisor increases dramatically.” I agree with this. Not everyone needs an advisor. If they are willing to learn all the ins and outs. Yet, as you near retirement you have a series of permanent and often irreversible decisions to make. Most people can benefit from expert advice at this phase. Smart advice can provide results that are measurable in dollars and priceless in terms of how comfortable you feel as you transition into retirement. So, where do you find the right advisor? I’m going to walk you through the main criteria to consider. I’ll cover how advisors are licensed and regulated, how they are compensated, and what credentials to look for. First, regulations. There are two organizations that regulate the financial advice industry. One is FINRA, which is an abbreviation for the Financial Industry Regulatory Authority. When you carry a securities license you are regulated by FINRA. A securities license legally allows you to collect a commission from a transaction. I started my career with oversight from this organization. Then there is the SEC which stands for the Securities and Exchange Commission. When you are an investment advisor who charges a fee for advice – a fee that is not dependent on the sale of a specific product, and you have over $100 million of assets that you manage, then you are regulated by the SEC. If you are a smaller firm with less than $100 million then you are regulated by your state securities commission instead of the SEC. You can be regulated by both FINRA and the SEC. In technical language this is referred to as a “hybrid advisor”. In my mid-career years, I worked at a CPA firm and we carried securities licenses, insurance licenses and were able to charge a fee for investment advice. We were regulated by FINRA, our states’ insurance office, and our state’s securities division. Now my firm is only regulated by the SEC. We carry no securities or insurance licenses. We cannot be compensated from the sale of a product. We fall under the rules of the Investment Advisor Act of 1940, which means as a matter of law, we have a fiduciary duty to our clients. As it stands today in 2019, the majority of advisors are still not fiduciaries. I advise people to seek financial advice from someone who is a fiduciary and will acknowledge that they have a legal duty to provide advice in their client’s best interest. The simplest way to find advisors that meet this standard is to find advisors who are regulated by the SEC or their state, but not by FINRA. You can also visit an organization called NAPFA, the National Association of Personal Financial Advisors, and use their search for an advisor feature. All advisors who are members of this organization are fee-only advisors who have a fiduciary duty to their clients.The way someone is regulated also has a relationship to how they are compensated, which is the next key thing to consider when hiring someone. I’ll cover four of the most common compensation structures. First, commissions. Under a commission structure, when you buy an investment or insurance product, your financial advisor receives a commission for the sale of that product. Advisors who are compensated by commissions may have a limited set of investment products to choose from. I have met advisors under this model who sell only variable annuities, only mutual funds, or only life insurance. They know their products inside and out, but all too often, they have limited knowledge of the choices available outside of their product line. If you have already determined the type of investment product you need, the right commissioned advisor may be a great resource to help you sift through the choices in that product line, but they may not be the best resource in helping you design your overall plan. Next, there is hourly pricing. With an hourly pricing structure, you are paying for your advisor’s time. Most advisors who charge hourly will provide you an up-front estimate of the amount of time it may take. With hourly pricing, much like that of an attorney or CPA, rates vary with the experience level of the advisor. Average rates range from about $100 to $300 an hour. I used to offer a la carte financial advice where someone would pay an hourly rate and I’d assist with whatever project they asked for. Why did I stop doing this? I found that when looking at only a piece of someone’s finances I couldn’t feel confident I was giving the right answer. For some folks, hourly pricing is a perfect fit. An organization called Garret Planning Network offers a great search feature where you can locate hourly planners. If you want portfolio advice on an hourly basis, check out RickFerri.com. Rick is a Chartered Financial Analyst who offers customized investment advice on an hourly, as-needed basis. Next, you have financial planning fees. Some advisors charge per financial plan. They quote you a specific price that covers a set of services. Pricing may range from $1,000 to $15,000 for a written plan, recommendations, and a defined number of meetings. Typically, you get what you pay for, so if the plan is free, watch out. The plan pricing is often customized to the complexity of your situation. And last, there is one of the most common structures, which is charging a percentage of assets managed. Under this method of compensation, an advisor will handle the opening and management of accounts and may also offer financial-planning advice along with investment advice. Pricing ranges from about 0.5% to 2% per year. Usually the more assets you have, the lower the rate. Many advisors have minimum account sizes. You can ask an advisor what their minimum is before you meet. There can be a vast difference in services offered for exactly the same rate. For example, brokers may put you in a fee-based account model where investments are managed by software. They may charge 1.5% a year and yet not be able to offer any tax planning advice. At my firm, for a lower rate, we do far more than put you in an account model and rebalance once a year. We update your financial plan, provide advice on accounts outside our management, run an annual tax projection, and match your investment needs to your retirement cash flow needs. It takes far more hours than most people think. And, we keep people from making horrible mistakes with their money. Not everyone is cut out to do their own financial planning and investing. For those who aren’t, 1% is a great value. As you age, you must also consider your spouse. You may be well qualified to manage your finances and investments on your own, but whose hands might your spouse end up in when you’re gone? It may be better for you to select the appropriate firm now rather than leave such a thing up to chance. The last thing I want to cover is credentials. As of 2017, a research firm named Cerulli Associates estimates there are about 311,000 financial advisors in the United States. About 82,000 have a Certified Financial Planner designation. To make sure your advisor has the basic education, what I might call a bachelor’s degree in financial planning, choose someone with the CFP® designation. Another similar designation that qualifies someone is the PFS or Personal Financial Specialist designation which can only be acquired by a CPA. By hiring a CFP or PFS you can be confident that your advisor has the needed education in the basic financial concepts they must know. I started my career without any credentials and without any education in financial planning. I was earnest, believable, and genuine. I had never owned a home, didn’t know anything about taxes, and had no perspective on what a bear market would look like. Yet I was a financial advisor. I believe a lot of advisors are like I was when I started my career: well-intentioned. However, that doesn’t mean they know what they are doing. At my firm we work as a team, so planners who are younger in their careers work side by side with someone more experienced. You’ll have to determine how much experience you think is appropriate. I recommend a minimum of five years. You’ll also have to determine if you have other advanced needs. If you need an advisor who is a specialist, then look for additional designations. At Sensible Money, we are retirement income specialists. We carry an RMA or Retirement Management Advisor designation, which I equate to getting a master’s degree in the distribution phase. The focus of an RMA is on decumulation planning. If you want an investment specialist, look for a CFA, or Chartered Financial Analyst. You most often see this designation among people who manage institutional money such as for mutual funds or pension funds. You may want a CFA, or want to work with a firm that has a CFA as part of their team, if you have advanced investment-management needs—for example, you may own a big chunk of employer stock, are an officer of a publicly traded company, or have inherited complex investments. When it comes to hiring an advisor, lay out what you are looking for in terms of how the advisor is regulated, compensated, and what credentials they carry. Then only interview those who fit your criteria. That wraps it up for the first part of Chapter 12 on “Whom to Listen To”. I will be recording additional content from Chapter 12 on “Interviewing Advisors” and on one of the most important topics I can think of - “Avoiding Fraud.” ----- Thank you for taking the time to listen today. Visit amazon.com to get a copy Control Your Retirement Destiny in either electronic or hard copy format. You can also visit sensiblemoney.com, to see how a staff of experienced retirement planners can help.  

Scott Smith—Director Advice Relationships, Cerulli Associates With more than 20 years of financial services industry experience, Scott leads Cerulli's research efforts focused on investor behavior and advisory relationships. In his time at Cerulli he has authored more than two-dozen in-depth reports on topics ranging from investors' risk preferences impression to the rise of digital advice platforms. His research helps Cerulli's clients understand how to optimize their platforms given the evolving demand for financial advice. Scott, who received his B.A. from The Johns Hopkins University in Economics and his M.B.A. from Bryant University started his career on th front lines of client service at Putnam Investments, and now helps firms optimize their investor engagement strategies. To contact Scott call 617-437-1098x132 or email him at ssmith@cerulli.com

Bloomberg Opinion columnist Barry Ritholtz interviews ETF expert Dave Nadig, who is managing director of ETF.com and former director of ETFs at FactSet Research Systems. Nadig helped design some of the first ETFs as managing director at BGI, and as co-founder of Cerulli Associates, he conducted some of the earliest research on fee-only financial advisers and the rise of indexing. 

If someone was to tell you that you have to pay for goods and services, you would probably look at them in a manner that would say “Of course! Why do you feel like you even need to tell me what I already know?” What if someone told you the services provided by your financial advisor come at a cost? For some, this isn’t new information, but a February 2017 study performed by Cerulli Associates and reported by Bloomberg indicates that nearly half of American investors either aren’t sure what fees they pay or believe (incorrectly) that the investment advice is free.

How do our most senior leaders, and those that offer them consultation, feel about the direction and trajectory of our industry? What is their outlook on the future state of wholesaling and, based on their considerable experiences, what lessons would they help us all learn?  In this episode, sponsored by Money Management Institute's Center for Distribution Excellence, we explore what wholesalers need to do to thrive in the future world of wholesaling – a world where they are responsible not just for their own efforts and outcomes, but for harnessing the resources of their firm to capture advisor partnerships and assets. Show summary: Home offices and advisory practices are becoming increasingly sophisticated and diverse in their portfolio construction processes and use of share classes and investment vehicles. This is adding to many asset managers' preexisting challenges of defining top-tier partnerships and locating true centers-of-influence. Many asset managers are facing mounting pressures in balancing their prioritization of growth opportunities and efficient distribution strategies. Cerulli Associates will discuss how these trends are impacting the future of distribution. Emphasis is given to the importance of Key Accounts, territory management, and the growing need for wholesalers to possess a blend of relationship management, analytical, and consulting skills. Our guests for this episode are: Bing Waldert – Managing Director, U.S. Research: Bing has oversight over Cerulli's U.S. research and data products and consulting business. He has authored multiple Cerulli Reports, and contributes to the Cerulli Edge series. Bing has more than 15 years of financial services industry experience. Donnie Ethier – Director of Wealth Management: Donnie leads consulting engagements and research initiatives as it pertains to Cerulli Associates' intermediary distribution capabilities. He directionally leads Cerulli's U.S. High Net Worth practice and provides internal consultation to the Annuities & Insurance practice, specifically distribution strategies. He contributes to multiple consulting projects, Cerulli Reports, and the Cerulli Edge series.

Recorded live at the 2017 Options Industry Conference, Mark is joined by Eric Cott, Director of Advisor Education, and Emily Sweet, Senior Analyst at Cerulli Associates. They discuss: Merging the Options Industry Conference and the Financial Advisor Conference The survey Cerulli Associates did for the OIC on financial advisors Surprising findings from the survey Downside protection, hedging, and other ways larger advisors are using options How many advisors participated in the survey When there is a dedicated CIO, there is more use of options Improving professional trading tools How many advisors aren't comfortable talking about options with clients? Options as a counterpoint to the robo advisor What about the advisors who previously used options but stopped? The client influence on options is hard to quantify

Recorded live at the 2017 Options Industry Conference, Mark is joined by Eric Cott, Director of Advisor Education, and Emily Sweet, Senior Analyst at Cerulli Associates. They discuss: Merging the Options Industry Conference and the Financial Advisor Conference The survey Cerulli Associates did for the OIC on financial advisors Surprising findings from the survey Downside protection, hedging, and other ways larger advisors are using options How many advisors participated in the survey When there is a dedicated CIO, there is more use of options Improving professional trading tools How many advisors aren't comfortable talking about options with clients? Options as a counterpoint to the robo advisor What about the advisors who previously used options but stopped? The client influence on options is hard to quantify

For the first time, the Options Industry Council and Cerulli Associates team up to provide the investing community with a new benchmark study on the current state of how and why financial advisors implement exchange-listed options in client investment portfolios. Cerulli Senior Analyst Emily Sweet presented key findings of the just-released study which examines how top advisors are using options, why others are not, and opportunities for the industry to broaden adoption of their use.

For the first time, the Options Industry Council and Cerulli Associates team up to provide the investing community with a new benchmark study on the current state of how and why financial advisors implement exchange-listed options in client investment portfolios. Cerulli Senior Analyst Emily Sweet presented key findings of the just-released study which examines how top advisors are using options, why others are not, and opportunities for the industry to broaden adoption of their use.

We have spent a lot of time on the podcast talking about how to make your retirement plan stronger and healthier.  Today, we turn the conversation on its head and discuss strategies to make your retirement plan unattractive, to plaintiff’s attorneys and the ERISA lawsuits.  With me I have two previous podcast guests, we have our legal eagle Tom Clark, ERISA Attorney with Wagner Law Group and our voice of the retirement industry Josh Dietch.   There is laughter, witty banter and even some great suggestions you can take away and bring to your next retirement committee meeting.   Before we get started, we will soon announce our next live webinar to our email subscribers coming up in May.  Thank you again to everyone who voted!  I am happy share that our next topic will be, drum roll, “Should Your Employees Consider Your HSA Plan as a Retirement Plan?”.  Again, stay tuned for the email soon to come email announcement.  As a reminder, if you are not an email subscriber, you are missing out on valuable podcast updates, opportunities to submit ideas for topics to explore, questions to future guests, timely white papers and invitations to our webinars and other live events.  If you are not part of our growing community, go to www.401kfridays.com/subscribe today and you can get that taken care of.     Guest Bios Tom Clark is Of Counsel with The Wagner Law Group, a law firm specializing in ERISA & Employee Benefits, Estate Planning, and Employment, Labor & Human Resources Law. His expertise encompasses all aspects of employee benefits programs, including the design, implementation and compliance of retirement plans, health and welfare plans, and executive and incentive compensation arrangements. He also has a robust practice assisting industry service providers in meeting their ERISA compliance and general business needs. Tom is also a well-seasoned ERISA litigator. Earlier in his career, he worked for the law firm of Schlichter, Bogard & Denton including on such landmark cases as Tibble v. Edison, which was heard this year by the U.S. Supreme Court. Tom is Editor-in-Chief of the Fiduciary Matters Blog, a blog visited over 150,000 times since its first publication in March 2013. He also teaches ERISA Fiduciary Law as an Adjunct Professor at the Washington University in St. Louis School of Law, his alma mater. ​ Josh Dietch joined Chatham Partners in 2005 and is a Managing Director. In this capacity, Joshua manages research and consulting engagements that focus on client retention and new business development processes. Prior to joining Chatham, Joshua was Director, Product Marketing and Management with ADP Retirement Services managing product development and marketing for ADP's defined contribution and executive deferred compensation products. Earlier in his career, Joshua was a consultant with Cerulli Associates, helping financial service firms with both business strategy and new product development, and previously worked for a subsidiary of the Principal Financial Group. He has been quoted on financial issues for leading publications such as the New York Times, The Wall Street Journal, Pensions and Investments, Investment News and several trade publications, and has also appeared on CNBC. Joshua received his B.A. in History from Bates College.     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 fifty prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

Episode Overview Have you ever wondered why other employers and plan sponsors either stay with or make changes to their retirement service providers?  Has it been a little while since you have been out to the market to evaluate your retirement service partners and want to what your peers are looking for in record keepers and consultants?  If so, then my conversation with Josh Dietch, Managing Director at Chatham Partners should be helpful!  Who is Chatham Partners and how can they speak credibly about what employers are thinking?  In short, they are the go to firm the retirement industry uses to gather feedback on their services and analyze why they either were successful or not in a securing or retaining relationships with employers.  During my conversation with Josh, we hit on so many great topics such as the valued and commoditized offerings of retirement service providers, how the drive for low fees is forcing providers to ration service, the paradox of participant education and how the new DOL fiduciary rule might impact provider searches and evaluations in the future.  There is a little “inside baseball” talk in this episode, but I think you will find it enlightening and could help put some of the responses or strategies of your service providers in perspective. Last thing, I would really be interested to hear which points we covered had you nodding your head in agreement or shaking it in disagreement.  Shoot me an email at info@401kfridays.com with your thoughts. Now, here we go! Guest Bio Joshua Dietch joined Chatham Partners in 2005 and is a Managing Director. In this capacity, Joshua manages research and consulting engagements that focus on client retention and new business development processes. Prior to joining Chatham, Joshua was Director, Product Marketing and Management with ADP Retirement Services managing product development and marketing for ADP's defined contribution and executive deferred compensation products. Earlier in his career, Joshua was a consultant with Cerulli Associates, helping financial service firms with both business strategy and new product development, and previously worked for a subsidiary of the Principal Financial Group. He has been quoted on financial issues for leading publications such as the New York Times, The Wall Street Journal, Pensions and Investments, Investment News and several trade publications, and has also appeared on CNBC. Joshua received his B.A. in History from Bates College. 401(k) Fridays Podcast Overview Helps employers navigate the evolving retirement benefits landscape through weekly engaging interviews with industry leaders, subject matter experts and progressive employers with unique viewpoints. The diverse in-depth perspectives and relevant topics help employers make more informed decisions about their retirement benefit programs which will positively impact their employees and business.  For more information please visit www.401kfridays.com/podcasts.