Tell us a fun fact about yourself! I’ve run 3 marathons and am training for a ½ marathon right now.
What’s the hardest part of running your own practice? Knowing when to ask for help….just because I run my practice doesn’t mean I have to do everything.
What advice do you have for those who are just starting out in this space? Find a mentor/accountability partner; nobody can do it all alone. Whether it is someone inside or outside your area, you need to find someone to share ideas with so you can have a sounding board.
Tell us about what a typical day looks like for you? I wish I had a typical day; they’re all different!
Where do you find your leads? Referral sources, I host a quarterly happy hour with a few trusted COIs—just networking, no sales. We all invite clients/prospects and can interact with them in a non-threatening environment.
Name one personal or professional change you made over the past year that helped you be more successful. I hired a plan consultant to help me better service my existing book of business, allowing me to concentrate more on business development.
What is a quote you live by? If the first person you meet in the morning is a jerk, they’re a jerk. If everybody you meet is a jerk, you’re the jerk.
Has your outlook on the 401(k) industry changed over the past year? Yes, I think we are moving from a place where changes to retirement plans that were perceived to help smaller investors but actually helped larger investors (ie - fee transparency…moving to flat fee pricing actually benefits those with larger balances by allowing them to pay lower actual dollars in fees), to a scenario with features that truly benefit smaller investors (emergency savings, student loan debt replacement programs, financial wellness programs, expanding access to retirement plans for small businesses). The more people that participate in retirement plans, the better off everyone (both in the industry and as a saver) will be.
What is one trend you foresee impacting plan advisors over the next few years? I think increasing access to retirement plans will be a huge focus in both the industry and Washington. Those who are able to serve that market at scale will be well-positioned for growth going forward.