Be More Than A Fiduciary Eric Dyson

In this episode of Friday Fiduciary Five, Eric Dyson talks about the fiduciary duty of loyalty and acting exclusively in best the interest of plan participants and beneficiaries. 


Connect with Eric Dyson: 
Website: https://90northllc.com/
Phone: 940-248-4800
Email: contact@90northllc.com 
LinkedIn: https://www.linkedin.com/in/401kguy/ 


The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

About Bryan England, AIF®️: Bryan is the Chief Operating Officer of Sundvold Financial. He leads the firm’s retirement plan education team as well as its investment due diligence processes. Furthermore, he manages a group of the firm’s retirement plan clients, several of whom have been with the firm since Bryan’s first day in 1999.

About Eric Morrison: Eric is the President of Sundvold Financial. He is engaged in the implementation of growth initiatives for the firm as well as leading its business development strategies. Additionally, he is at the point for the firm’s future planning around new lines of business, service sectors, and partnerships.

In this episode, Eric, Bryan, and Eric discuss:
What to look for when searching for a 401k plan advisorThe benefits of holding monthly meetings which are off-cycle from formal committee meetingsAdvice for young advisors Taking ownership and responsibility 
Key Takeaways:
When searching for a 401k plan advisor, focus on how they can help from a fiduciary and plan design standpoint, as well as their strategic approach to education and handling unexpected situations. Holding monthly off-cycle meetings with clients in addition to formal committee meetings helps address timely issues and keeps everyone on the same page, leading to increased productivity. For young advisors, always remember to be patient with results and expectations. Be humble enough to admit when you don't know something and seek guidance from mentors.As a plan committee member, take ownership of the responsibility and handle the plan as if it were your own account. By following insights from industry experts, you can navigate the challenging but rewarding world of 401k plans with confidence and success.
“I would encourage young people to become an expert in everything as it relates to not only retirement plans but also benefits. If you know their benefits, if you know social security, if you know Medicare, you can bring a lot to the table when you develop those relationships and have those value adds going forward.” - Bryan England

Connect with Bryan England and Eric Morrison:
Website: https://www.sundvold.com/ 
Eric’s LinkedIn: https://www.linkedin.com/in/eric-morrison-8076608/ 


Connect with Eric Dyson: 
Website: https://90northllc.com/
Phone: 940-248-4800
Email: contact@90northllc.com 
LinkedIn: https://www.linkedin.com/in/401kguy/ 


The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

In this episode of Friday Fiduciary Five, Eric Dyson begins a five-part series regarding ERISA plan fiduciary basic responsibilities.  He talks about the four basic fiduciary duties in ERISA, which are the duty of loyalty, prudence, diversification, and following plan documents.


Connect with Eric Dyson: 
Website: https://90northllc.com/
Phone: 940-248-4800
Email: contact@90northllc.com 
LinkedIn: https://www.linkedin.com/in/401kguy/ 


The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.

About Renee Scherzer: As a Retirement Plan Specialist, Renee provides clients with strategies to empower their employees to build financial independence while managing the fiduciary liability of organizations and their executives through their 401(k), 403(b), and executive planning needs. 

In this episode, Eric and Renee discuss:
Meeting people at their levelMaking a meaningful impactThe value of building a strong networkHow diversity enhances innovation
Key Takeaways:
Effective leadership in retirement plans is about meeting employees at their financial literacy level and guiding them from there. Aligning one's core values and purpose with the organization's mission is fundamental to making a meaningful impact.Building a strong network and maintaining curiosity is invaluable for professionals seeking success in the retirement advisory space.Diversity of thought in decision-making teams significantly improves outcomes and innovation in the retirement plan industry.
“People who want to get into leadership, if they're leading with their why and they truly are passionate about the initiatives, that's going to show.” - Renee Scherzer

Connect with Renee Scherzer:
LinkedIn: https://www.linkedin.com/in/reneescherzer/ 


Connect with Eric Dyson: 
Website: https://90northllc.com/
Phone: 940-248-4800
Email: contact@90northllc.com 
LinkedIn: https://www.linkedin.com/in/401kguy/ 


The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.

In this episode of Friday Fiduciary Five, Eric Dyson defines his use of the catchphrase “Be More Than a Fiduciary.  He talks about how fiduciaries should prioritize the well-being of the people they serve and strive to be the best steward they can possibly be.

Connect with Eric Dyson: 
Website: https://90northllc.com/
Phone: 940-248-4800
Email: contact@90northllc.com 
LinkedIn: https://www.linkedin.com/in/401kguy/ 


The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.

Mike DiCenso is a seasoned professional in the retirement industry, carrying over three decades of rich experience. His expertise spans a broad range of competencies. Mike crafts visionary strategies and direction, marked by critical thinking and market leadership. He is proficient in practice management and mastering business metrics, demonstrating organizational leadership, with a focus on revenue, asset, and profit growth. 
Mike has a proven track record in sales and marketing leadership, formulating effective models, and offering mentoring. He also has remarkable team-building and recruitment capabilities, strong expertise in managing mergers and acquisitions, and has held prominent positions such as CEO, COO, and CMO. Overall, Mike is well-versed in providing holistic solutions and leadership

In this episode, Eric and Mike discuss:
Should you handle ERISA plan tasks internally or outsource to experts?What are PEPs and PPPs? What purpose do they serve? Considerations when adopting a PEP The value of research, self-education, and analysis in considering a PEP 
Key Takeaways:
Understanding the roles and responsibilities involved in running a retirement plan is more important than ever. Benefit managers must carefully consider whether to handle tasks internally or outsource them to experts. In this context, Pooled Employer Plans (PEPs) have emerged as a viable solution for employers. PEPs are essentially 401(k) or 403(b) plans that combine unassociated employers, while Pooled Plan Providers (PPPs) serve as the ultimate fiduciaries managing and overseeing these plans.Adopting a PEP may require employers to relinquish some control over plan design and fund lineup. PEP providers offer varying degrees of flexibility and customization options for plan design and investment lineups.When considering a PEP, employers should conduct thorough research, should consider engaging in an RFI or RFP process, and evaluate multiple providers to determine the best fit for their needs. Advisors, too, should educate themselves about PEPs to better serve their clients and avoid losing them to competitors who offer PEP solutions.
“A PEP… is for any employer who's looking to offload and outsource as much of the operations and the fiduciary responsibilities as possible. Can they ever get rid of it 100%? No. Because they do have to select which PEP they're going into and that in itself is a fiduciary duty.” - Mike DiCenso

Connect with Mike DiCenso:
Website: https://www.myretirementace.com/ 
LinkedIn: https://www.linkedin.com/in/michael-dicenso-a479b16/ 


Connect with Eric Dyson: 
Website: https://90northllc.com/
Phone: 940-248-4800
Email: contact@90northllc.com 
LinkedIn: https://www.linkedin.com/in/401kguy/