Francis LLC's Fiduciary Advice @ Work Podcast Francis LLC

Ensuring Adherence to Plan Documents. In the third and final part of this three-part conversation, Marquette University's Claudia Paetsch (Vice President for Human Resources) and Jessica Franken (Associate General Counsel) discuss the steps they’ve taken to improve their operational controls and cybersecurity practices.

During this episode, we cover:

· Performing operational review on plan document provisions (2:00)

· Perception of plan operation vs. Intention of plan documents (7:43)

· Ensuring security of assets and accounts and privacy with participant information (11:01)

· Marquette’s meaningful changes to employee retirement benefit (17:14)

Learn more at https://www.francisinvco.com/.

Monitoring Plan Costs. In part two of this three-part conversation, Claudia Paetsch (Vice President for Human Resources) and Jessica Franken (Associate General Counsel) discuss the effective steps they’ve taken to better manage and ultimately reduce Marquette’s plan costs.

During this episode, we cover:

· What has contributed to Marquette’s great ability to monitor plan costs over the years and how Francis has contributed (1:50)

· Asset-based vs. Participant-based fee methods (3:44)

· Participant-focused approach to paying service provider (7:58)

· Wisdom for peers at other institutions (14:50)

Learn more at https://www.francisinvco.com/.

Improving Governance Documents. Get first-hand plan sponsor insights from Marquette University. In part one of this three-part conversation, we hear from Claudia Paetsch (Vice President for Human Resources) and Jessica Franken (Associate General Counsel) as we discuss the important steps they’ve taken to improve their plan governance documents and their administrative procedures.

During this episode, we cover:

· Need for independent advisor for Retirement Plan Committee (1:24)

· Typical growth areas for governance documents (3:34)

· What initiatives are coming up next to improve Marquette’s retirement plan benefit (8:45)

· Operational audit of communication from recordkeeper (14:00)

· Meaningful changes to Marquette’s retirement benefit (16:38)

Learn more at https://www.francisinvco.com/.

Get first-hand plan sponsor insights from Olmsted Medical Center. In part two of this conversation, we discuss how Olmsted enhanced the plan participant experience by expanding financial wellness services and modifying their recordkeeper’s marketing practices, specifically covering:


Why Olmsted expanded its approach to employee financial education and advice (1:53)
Concerns Olmsted identified in its recordkeeper’s marketing strategy (6:07)
Tips for plan sponsors to minimize risks associated with recordkeepers’ marketing tactics (7:51)
Four recordkeeping practices plan sponsors should be aware of in order to limit their fiduciary exposure (15:04)

The information presented is from sources believed to be reliable but Francis Investment Counsel cannot guarantee its accuracy or completeness.  Olmsted Medical Center retains Francis Investment Counsel as its 3(21) investment adviser for investment consulting and employee financial wellness services. Neither Olmsted, nor any of its representatives, were compensated for participation in this podcast, and there are no conflicts of interest to be disclosed.  The information and experience described by Olmsted is not necessarily representative of all Francis Investment Counsel clients.  MoneyAdvice@Work® is offered through Francis Investment Counsel, a Registered Investment Adviser with the SEC. Francis Investment Counsel is not a registered broker/dealer. Neither the firm nor any employee is licensed to sell or be compensated for the recommendation of any financial products or product providers.

Get first-hand plan sponsor insights from Olmsted Medical Center. In part one of this two-part conversation, we discuss the impact of proactive plan cost management, including:


Why improving fee transparency mattered to Olmsted (5:10)
How to better match retirement plan recordkeepers' responsibilities with their compensation (11:45)
What impact investment share class selection has on fees (16:03)
The trust employees place in their employers (21:21)
Strategies that work best for equitable cost allocation (22:40)

The information presented is from sources believed to be reliable but Francis Investment Counsel cannot guarantee its accuracy or completeness.  Olmsted Medical Center retains Francis Investment Counsel as its 3(21) investment adviser for investment consulting and employee financial wellness services. Neither Olmsted, nor any of its representatives, were compensated for participation in this podcast, and there are no conflicts of interest to be disclosed.  The information and experience described by Olmsted is not necessarily representative of all Francis Investment Counsel clients.  MoneyAdvice@Work® is offered through Francis Investment Counsel, a Registered Investment Adviser with the SEC. Francis Investment Counsel is not a registered broker/dealer. Neither the firm nor any employee is licensed to sell or be compensated for the recommendation of any financial products or product providers.

In this episode, we focus our discussion on the concept of financial wellness. While its popularity resulted in an explosion of services and solutions, will this interest last? Join experts from our team as we explore:

What financial wellness looks like in practice (and what’s often missing)
Overcoming common obstacles to implementing financial wellness
The evolution of financial wellness and what that will look like within the workplace