Be More Than A Fiduciary

Eric Dyson

Serving as an ERISA fiduciary is not just an honor and a privilege; it is a profound responsibility intertwined with the essential qualities of stewardship, governance, and leadership. Eric Dyson, the Executive Director of 90 North Consulting, dedicates each week to engaging with individuals who are deeply committed to achieving excellence beyond the traditional fiduciary role. If you are a member of a retirement plan committee, a plan fiduciary, or an ERISA advisor genuinely dedicated to enhancing the retirement prospects of hard-working Americans, then this podcast is tailor-made for you. Whether you relish in-depth interviews with industry experts discussing crucial topics or seek concise tips for fiduciary best practices, More Than A Fiduciary is your go-to resource. Tune in and elevate your understanding and performance in this crucial domain.

  1. Sep 23

    Brandon Shea: What Do Plan Sponsors Need to Ask About Private Assets in DC Plans?

    Private assets are flooding into the defined contribution conversation — but are they a breakthrough or a bogeyman? Brandon Shea of T. Rowe Price breaks down what private equity, infrastructure, and credit actually are, and the handful of questions every committee should ask before they ever say yes or no.  In this episode, Eric and Brandon Shea discuss: Private assets 101: equity, infrastructure, creditWhy private assets remain optional, not mandatoryLiquidity vs. valuation in target date structuresThe committee's evolving due diligence frameworkPlan size, advisors, and practical implementation Key Takeaways: Private assets are a tool, not a destination — the goal is helping participants build and preserve enough savings for retirement.Complexity belongs to the professional asset manager. The committee's job stays where it's always been: portfolio-level oversight of philosophy, glide path, fees, performance, and risk.Participant liquidity and investment liquidity are two different things — a participant can have daily access even when underlying holdings don't trade daily.Don't mistake infrequent pricing for low volatility; smoother reported returns may reflect valuation timing rather than underlying economics.Core questions don't scale with plan size — a $25 million plan and a $2 billion plan ask the same things; only the depth of documentation and resources differ.Bonus: a documented "no" is a valid fiduciary outcome — it’s OK to get educated and then decide a particular direction, which includes declining a certain service or strategy.  Record the process and the reasoning. “Keep the decision at the portfolio level. Private assets are not a goal by themselves. Participant outcomes are the goal.” - Brandon Shea Brandon Shea is a defined contribution strategist for the Global Retirement Strategy team. The team leads an enterprise retirement strategy, advises on the development of new products and services, and helps amplify the firm’s voice in retirement security-related public policy initiatives. Brandon is a vice president of T. Rowe Price Associates, Inc. Brandon’s investment experience began in 2000, and he has been with T. Rowe Price since 2017, beginning as a defined contribution investment-only regional consultant. Prior to this, Brandon held multiple sales leadership roles with RidgeWorth Investments, Pioneer Investments, Salomon Brothers Asset Management, and Transamerica Capital. Brandon earned a B.A. in political science, with minors in economics and management information systems, from Miami University of Ohio. He is a Series 6, 7, and 63 registered representative.  Connect with Brandon Shea: Website: https://www.troweprice.com/en/us  LinkedIn: https://www.linkedin.com/in/brshea/  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 and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change. 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, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. 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. The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

    Brandon Shea: What Do Plan Sponsors Need to Ask About Private Assets in DC Plans?
  2. Sep 9

    Eric Dyson on The Gap: What Plan Sponsors Should Really Expect from Advisors

    What if choosing a retirement plan advisor wasn’t about who’s cheapest, but who actually moves the needle for your employees and your HR team? In this episode, you’ll learn how to evaluate advisors like a large plan committee—no matter your plan size—and what “good” really looks like in fiduciary process, education, and fees. In this episode, Eric and Shannon Edwards discuss: Defining fiduciary duties and basic responsibilitiesWhen and how to run an advisor search or benchmarkWhat differentiates a truly great retirement plan advisorParticipant education, KPIs, and small-plan governanceEvaluating fees, services, and culture/fit with advisors Key Takeaways: Before looking at advisor proposals, plan sponsors need to clearly define their priorities and how they want to impact participant outcomes; the search should flow from those needs, not from marketing materials.Fiduciary excellence is grounded in process and documentation—understanding duties like prudence and loyalty and being able to “tell the fiduciary story” through meeting records.A strong advisor goes beyond reporting data to interpreting it, identifying specific problems (like loan usage or low participation) and proposing concrete, customized solutions.Fees should be evaluated in the context of services and value delivered, using periodic benchmarking or competitive bids, and sponsors must know exactly what they pay and what they receive in return.Even small and micro plans can borrow governance practices from large committees—such as regular touchpoints, clear agendas, and documented decisions—without making the process overly complex. “The advisor who is helping you look at data and understand what you need to do—that's what you're looking for.” - Eric Dyson Connect with Shannon Edwards: Website: https://www.tristarpension.com/    LinkedIn: https://www.linkedin.com/in/shannonedwardsplanconsultant/  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 and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change. 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, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. 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. The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

    Eric Dyson on The Gap: What Plan Sponsors Should Really Expect from Advisors
  3. Sep 2

    Introducing 90 North's Polaris

    In this solo episode, Eric Dyson unveils Polaris, a governance framework designed to turn IPS language into disciplined, principled fiduciary action. In this episode, Eric discusses: Mission and focus of 90 North ConsultingWhy investment policy statements matter under ERISAThe concept of structured discretion in IPS languageDocumentation, monitoring, and fiduciary governanceHow Polaris evaluates and strengthens investment policy statements Key Takeaways: An investment policy statement is more than a legal or investment document; it is fundamentally a fiduciary governance document that should help fiduciaries make better decisions.Overly rigid IPS language can force imprudent outcomes, while overly flexible language undermines governance; the goal is “structured discretion” that creates clear decision points.Under ERISA, drafting and determining the terms of an IPS is itself a fiduciary act, and fiduciaries must generally act in accordance with the IPS as a governing document.Good governance is not only about prudent decisions but also about documenting the process in a way that demonstrates care, skill, prudence, and diligence if later scrutinized.Polaris provides a multi-lens framework—trust law, ERISA, DOL guidance, and investment governance best practices—to clarify responsibilities, delegation, and monitoring without simply making the IPS longer. “Documentation is not a substitute for prudence; it's evidence that the prudent process actually occurred.” - Eric Dyson 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 and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change. 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, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. 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. The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

    Introducing 90 North's Polaris
  4. Aug 19

    Salam Safi & Tanya Brooks: Beyond Analytics – Choosing the Right Partner for Complex Benefits

    When is it time to rethink a long-time benefits consultant? Salam Safi and Tanya Brooks discuss their health plan consultant search and what HR leaders should look for beyond data and tools, especially when improving the employee experience matters as much as the bottom line. In this episode, Eric, Salam, and Tanya discuss: Expectations and mindset for benefits service providersSimplifying a complex benefit structure after acquisitions and system changesWhy Darling decided to reevaluate its health plan consultantServing a dispersed, manufacturing workforce with limited tech accessLessons from the RFP: relationships, “vibe,” and avoiding status quo comfort Key Takeaways: Providers should understand a company’s history, needs, and goals rather than offer one-size-fits-all solutions.Simplifying plan design can improve compliance, administration, and employee understanding.Consultants on “autopilot” may overlook changes in client needs and strategy.Data matters, but communication, trust, and clear recommendations set consultants apart.Empowering HR leaders in vendor decisions strengthens accountability and employee outcomes. “I hire for my team the same way that I look at vendor partners. If I can't get along with you, this will not be a good relationship.” - Salam Safi “They are the bulk of our population. They're also the reason why we have a desk in an office to sit in. They do the hard work; we are here to support them.” - Tanya Brooks About Salam Safi: Salam Safi is a strategic Human Resources executive with extensive experience in people strategy and organizational transformation. As Vice President of Human Resources, US at Darling Ingredients, she works with executive leadership to align talent strategies with business priorities and drive performance. Her expertise includes talent management, organizational design, leadership development, workforce planning, employee relations, HR technology, and change management. She is known for building high-performing teams, strengthening leadership, and enhancing the employee experience. About Tanya Brooks: Tanya Brooks is an experienced Human Resources and Payroll leader with over a decade of experience in HR operations, payroll, benefits, retirement programs, and HR technology. As Director of Human Resources, Benefits & Retirement, she leads employee benefits and retirement programs while ensuring compliance and a positive employee experience. Previously, Tanya served as Director of Payroll & HRIS and Payroll Manager, overseeing payroll operations, HR systems, compliance, and process improvements. She is known for developing efficient HR solutions that support employees and organizational goals. Connect with Salam & Tanya:  LinkedIn: https://www.linkedin.com/in/salamsafi/ & https://www.linkedin.com/in/tanya-b-aba24373/  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 and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change. 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, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. 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. The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

    Salam Safi & Tanya Brooks: Beyond Analytics – Choosing the Right Partner for Complex Benefits
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About

Serving as an ERISA fiduciary is not just an honor and a privilege; it is a profound responsibility intertwined with the essential qualities of stewardship, governance, and leadership. Eric Dyson, the Executive Director of 90 North Consulting, dedicates each week to engaging with individuals who are deeply committed to achieving excellence beyond the traditional fiduciary role. If you are a member of a retirement plan committee, a plan fiduciary, or an ERISA advisor genuinely dedicated to enhancing the retirement prospects of hard-working Americans, then this podcast is tailor-made for you. Whether you relish in-depth interviews with industry experts discussing crucial topics or seek concise tips for fiduciary best practices, More Than A Fiduciary is your go-to resource. Tune in and elevate your understanding and performance in this crucial domain.

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