Welcome to The 401JA(k)E Show, hosted by the ambitious, passionate, 401(k) practitioner Jake Rushton, AIF. On this podcast you will hear from 401(k) industry leaders, business owners, employees, and other influencers to help you win more business efficiently and effectively. You will also hear ideas about sales, operations, marketing, personal branding, and lifestyle design. The content we cover will be useful for anyone in the 401(k) industry including advisors, wholesalers, TPAs, auditors, and plan sponsors. Get ready to take your 401(k) practice AND YOUR LIFE to a new level!
Early in my career I spent hours learning online and one source kept showing up from the one and only Ary Rosenbaum. I'm sure you have had a similar experience while looking for an answer to a tough 401(k) plan question. Ary has been consistently sharing some of the most direct and useful content for a decade. Recently he started "That 401(k) Conference" where he originally brought together advisors and other industry professionals at Major League Baseball Stadiums for a fun event which includes a professional athlete and a tour. I've attended two of these and it was a great time. Covid has changed these to virtual, which has increased the attendance. I'm thrilled to be speaking at his next National event in January 2021.
Connect with Ary here: https://www.linkedin.com/in/ary-rosenbaum-1135a41/
The 401(k)lub is open now through November 25th: https://www.401klub.com
Aaron Pottichen is one of biggest influencers in the 401(k) Industry! It doesn't take long to see why. His approach to find ways to help his clients create savings to fund the most advantageous 401(k) plan designs is a strong talent his clients benefit from. It includes creative complete benefit plan designs with his parters at Alliant (https://www.alliant.com/pages/default.aspx).
Aaron has also won every award possible including the 401(k) Specialist Magazine "Top Advisor Participant Outcomes" Award (2018) as well as the Reireholiks Advisor Brawl. It will be exciting to see what Aaron does next.
Connect with him on Linkedin here: https://www.linkedin.com/in/aaronpottichen/
Also, check out the 401(k)lub launching this WEEK!!! https://www.401klub.com/
James Hou is an attorney who was drawn to the insurance industry early in his career. He has found his niche helping physicians reduce risk through the right coverage. I have been fascinated with some of the case studies James has shared with me and scared with others. In my experience, one of the key influencers on the 401(k) advisor selection can be the property and casualty insurance agent. Most companies worry out insurance needs before starting a plan. My hope is this episode will encourage you to find a valuable partner like James in your niche. You can connect with him here: https://www.linkedin.com/in/mrjameshou/
Also, get on the list now for the 401(k)lub launching next week!! https://www.401klub.com/
Alex Assaley has done some incredible work in the 401(k) industry. One of the most impressive is his attention on participant education. I've looked to Alex as an influencer for many years and it was a really fun to finally sit down and talk with him.
You can learn more about Alex here.
Make sure to head over and join the 401(k)lub too: https://www.401klub.com/
Dan Kravitz has been in the industry for over 25 years. In this episode you will learn why cash balance plans are an account you need to learn and know how to explain. Dan tells us why and how he build the strongest cash balance brand in the country. He also covers how you can get started or take your cash balance practice to the next level. He mentions a few webcasts covering a variety of topics including one of the hottest right now, Strategic Plan Termination. I strongly urge you to spend some time on his website learning as much as possible on how to use this powerful account to help your clients. https://www.cashbalancedesign.com/
I'll see this Friday Oct 30 at 3:30est at the Excel Conference with Matt Jackson and Jania Stout. Register here: https://app.livestorm.co/advisor2x/how-to-avoid-burnout-and-manage-stress?utm_source=Livestorm+company+page
Finally, make sure to sign up to be notified of the 401(k)lub launch next month: https://www.401klub.com/
This episode was a fun look at the 401(k) experience from the eyes of a participant. Tiffany Thomas is an old friend of mine who was sick of working in her 9-5 job so she took action and found a way to not only be financially independent, but she is also helping others do the same. She is now known as Wealthy Tiffany and we can learn a ton from what motivated her to do what most never dare.
You can connect with Tiffany here:
MAKE SURE TO SIGN UP TO BE NOTIFIED ABOUT THE 401(k)lub!!
Look I know bundled sounds good in the early stages of a plan, but you may be setting yourself up for a compliance nightmare. Partnering with the right TPA in your 401(k) practice is one of the best ways to win long term. It may cost a little more, but the value will be much higher. In this episode I discussed this with Shannon Edwards from TriStar Pension in Oklahoma City. Her experiences will help you be a better advisor and wholesaler.
Also, make sure you sign up for reminders about the 401(k)lub. We will be launching later this month.
Tom Frost is a 401(k) advisor is southern California doing something super valuable and honestly very unique. He is the founder of The 401(k) Plan Company. His mission is simple, to help employers provide a better solution and avoid the expensive penalties for not offering a retirement plan. The problem is, there are over 750,000 employers in California alone and he needs more help. Check out his great ideas he is executing.
More information on the SECURE ACT and it's impact in California.
Look for more information on your specific state here!
Cycling (k)its Here
I had an amazing conversation with Dr. Ronald Stair from Creative Plan Design. If you are looking for some ideas on how to approach the retirement industry as an advisor, wholesaler, or administrator this is the right podcast for you. Connect with Ronald here on Linkedin.
This episode was so much fun for me! Matthew Jackson is so genuine and experienced. He is driven with a "WHY" that will push you to be at your best. Check out what he is doing in the managed account space at 401(k) Maneuver. Or you can even find his bestselling book on Amazon.
I always hate staying up late to fix and review a proposal to get it just right. Seems like a huge wast of time and honestly very old fashioned. Lucky for us, I'm not the only one who feels this way. Scott Buffington, the Founder and CEO of 401plans.com spent some time with me today explaining his solution and how it can help you. We cover both angles as an advisor and a wholesaler.
Make sure to get your 401JA(k)E cycling kits ordered today. The store closes Sep. 30th. Use code "401k" for $40 off!
Tons of business owners want to offer a 401(k) plan, but often struggle to commit to a match. Does it make any sense to set up a plan in this scenario? Let's talk about 3 valid reasons the answer is YES!
#401k #Financial Advisors
We all know the 401(k) plan fits into an employers overall benefits package, but how many of you are spending time working with the benefits broker. This relationship is one you need to work on and give back to if you want incredible results. Executive teams often turn to their benefits brokers and consultants for direction on the 401(k). Learn how to be top of mind when that conversation happens. Katie Wood is one of the best brokers I've ever met. If you are looking for help with a clients benefits you can find her here. Or email her at: email@example.com
Remember (k)lub Sesh is every 3 weeks. More info here: https://www.401jake.com/sesh
#401k #financialdvisors #benefits #employeewellness
The HSA is quickly becoming the go to retirement account. What do you need to understand to prepare your 401(k) practice? The big players are making moves to capture assets. You need to spend time on this website to stay relevant and valuable: https://thehsareportcard.com/
Make sure to join our next (k)lub Sesh: https://www.401jake.com/sesh
You know how much I value a top notch TPA (Third Party Administrator) partner. They can help you win more plans with plan design help than almost any other way. They can come in the form of a CPA firm, a specialists firm, or inside of a recordkeeper. So how can decided who to trust to help your clients? After all, they are getting paid the client just like the advisor and recordkeeper.
In this episode I dive into this topic with Coleton Hutchins, QKA from The Ryding Company. Connect with him on Linkedin.
Sign up fo the (k)lub Sesh here: https://www.401jake.com
You can find me all over social media too:
A HUGE value you must bring to the table in your advisor role is knowing which record-keepers to recommend. In this episode I discuss the key points to review and consider when you start to look for a better home for your 401(k) plans. You must consider the service, technology and pricing. A small fee difference could lead to you loosing or keeping a plan when you don't value the other important aspects.
You can find me all over social media too:
The SECURE Act approved the new PEP or Pooled Employer Plan option for 2021. I wanted to explore this new option with Brendon Moore, and advisor out of Hartford Connecticut. He is working to launch a PEP in January 2021. Listen in as we discuss the good and bad of this new plan option. We both agree if you are a 401(k) advisor, you better start talking about this option now even if you don't plan to offer them.
Make sure to get to the (k)lub Sesh!!
My good buddy Klodian finished up 8 years as a consultant for Deloitte. He is a triple major CPA with a ton of experience looking to make his next move. As a pro elite Ironman triathlete he knows how to push it and not take no for an answer. I was fascinated to hear how he managed his 401(k). It seems the larger the plan the less personal touch there is. I'm working to change that and improve how experienced and educated employees like Klodian deserve more to help with retirement planning.
Connect with Klodian here:
Also don't miss out on the next (k)lub Sesh on July 17th . We are covering recordkeeper due diligence. https://www.401jake.com/sesh
I see a ton of advisors trying to run their business AND be an advisor. This limits your growth and full potential. You need to figure out what you love and excel at. Double down on that!
Next (k)lub Sesh July 17th: https://www.401jake.com/sesh
Joey Ossey is one of a kind. His story of following his passions is contagious. You will learn how he combined his love for the drums with the 401(k) space to bring a valuable solution for advisors all over the country.
Follow him here:
And don't forget to join the (k)lub at: https://www.401jake.com/sesh
What’s stopping you from reaching your goals? Most of us know exactly what we need to do, however, we feel safer following the status quo doing the same things daily. It’s time to get out and take action.
If you are looking for help, I've posted my top 5 secrets for 2020 over at https://www.401jake.com
Make sure you attend the (k)lub Sesh this Friday! https://www.401jake.com/sesh
Safe Harbor is only the start to a great plan design. You need to know what questions to ask to steer the business owner in the right direction. They won't have a clue what the gateway percentage is, but you SHOULD! Listen up to learn from one of the best in the industry! Chad Johansen explains how he approaches plan design conversations for professional groups like doctors, dentists, attorneys and engineers. You can see more of Chad on the Retireholi(k)s ( https://www.retireholiks.com/) show or find him hard at work at Plan Design Consultants (https://www.plandesign.com)
Next (k)lub Sesh is June 26th 10:30pst/1:30est https://www.401jake.com/sesh
It's obvious no one likes taxes, but to say the 401(k) is a bad tax move makes ZERO sense to me. In this episode I discuss why some people try to use taxes to scare people into other financial products, when in fact they should do the opposite and try to understand how to maximize tax savings in their 401(k) with the proper distribution strategies.
Understanding the proper plan design is critical for each industry. Today we discuss what niche Nate is in and how he brings value. You can learn more about Nate here: https://independent401kadvisors.com/construction/
Don't miss the (k)lub Sesh: https://www.401jake.com/sesh
Have you ever been to a boring 401(k) meeting? I have and it sucked and made me avoid starting a 401(k) for years. I want to share with you how I've made improvements to see better outcomes for employees.
Now that COVID-19 has accelerated our approach to online and remote working, will we see a change in how we work towards retirement? I'll be discussing my experience and why I've created 401JA(k)E. I will also talk about the huge opportunity you have and may not even know it yet.
Check out https://www.401jake.com/ for more helpful information.
Who else goes 100% family on the weekends? I really try and put all my attention on my wife and kids on Saturdays and Sundays. This weekend was all about Iphones and haircuts. What a mess that can be with 5 kids.
You would never let a general doctor operate on your brain, right?! Well, we do this all the time when we buy a product or service from someone that is just cross selling to increase their revenue. Sometimes this is ok, but NOT with your 401k. A specialist in this will be critical to help you succeed!