Techniques To Help Advisors Consult To The Fastest Growing DC Plan Market

To show advisors how to tap into the unprecedented growth opportunities in the nonprofit market, this session will discuss two interrelated sources of new business. Many nonprofit plan sponsors have DB plans that are currently under severe stress. To address this need, we will provide the top techniques advisors can utilize to help these organizations mitigate stress, including fee reductions, asset aggregation, hard freezes, soft freezes and implementing varying interest and mortality tables. These techniques will position advisors to showcase their value, skills and knowledge. As a complement, we will discuss the legal aspects applicable to 403(b) plan sponsors who use financial products which were not designed to comply with the ERISA fiduciary standards. Contract issues and litigation will also be discussed. To help advisors identify the plan sponsor’s fiduciary liability we will provide guidance on how to determine when a plan is subject to ERISA. To the surprise of many, most are subject to ERISA. On the investment front, many ERISA 403(b) plans have significant assets that are languishing in underperforming investment products with high fees, surrender charges and fixed income liquidity restrictions. The new era of 403(b) plans is riddled with compliance challenges. To reduce costs, administrative burden and mitigate risk, a growing number of plan sponsors are interested in learning how to consolidate their offering and transfer inappropriate 403(b) investments to better alternatives. Excluding parallel plans, 403(b) plan assets are in excess of $1 trillion and a significant number of these plans are going out to bid. By attending this session, advisors will learn how to motivate plan sponsors to review and replace these products with institutional programs.


Segments

Segment One
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Guest

Brodie Wood
Nonprofit VP & National Practice Leader
Diversified Investment Advisor

Brodie Wood is a VP of Sales and the National Practice Leader for Diversified’s Not-For-Profit Division. In this capacity, Mr. Wood leads the company’s not-for-profit sales, product development efforts and manages the Western Regional Sales Team. Prior to his current role, Brodie was the VP of Diversified’s Participant Counseling Organization. This organization is dedicated to delivering employee education, assisting with asset consolidation and retirement planning. Prior to joining Diversified in 2008, Mr. Wood worked for Fidelity Investments in several capacities over a ten year period. Brodie earned his Bachelor of Arts with a dual major in Spanish and Business from Utah State University. He has also completed his Masters of Business Administration from Brigham Young University in 2002. In addition to his CRPC designation, Brodie holds FINRA’s Series 26, 7 and 63 licenses.

For more information, call (801) 693-3602 or email: bwood@divinvest.com


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