Tag: California

Transforming Retirement Savings with Auto Portability (Ep.50)

Transforming Retirement Savings with Auto Portability (Ep.50)

What if your 401(k) followed you from job to job as effortlessly as your favorite playlist?

Join host Rebecca Hourihan as she sits down with industry experts Spencer Williams and Neal Ringquist from the Retirement Clearinghouse to explore this game-changing innovation. Discover how the Portability Services Network is tackling the challenge of maintaining retirement savings as employees change jobs, what it took to bring this idea to life, and why it matters to the evolving mobile workforce.

Spencer and Neal discuss:

  • The fascinating journey of auto portability from concept to critical mass and its impact on small account balances (00:01:06)
  • The role of the Portability Services Network and its collaboration with major record keepers like Fidelity and Vanguard (00:05:54)
  • How shifting demographics and technology are reshaping retirement savings behavior (00:08:35)
  • Navigating the mechanical process of auto portability and its implications for advisors (00:12:24)
  • Exploring the significant impact auto portability has on underrepresented communities and reducing cash-out leakage (00:24:56)
  • Vision for the future of Retirement Clearinghouse and upcoming innovations in retirement services (00:27:42)
  • And more

Connect With Rebecca Hourihan: 

Connect With Spencer Williams and Neal Ringquist:

About Our Guests:

Spencer Williams is Retirement Clearinghouse’s Founder, President & CEO and also is the President & CEO of Portability Services Network, LLC. Retirement Clearinghouse is a specialized provider of retirement savings portability and account consolidation services for America’s mobile workforce. Portability Services Network, LLC is a retirement industry-led utility dedicated to the industry-wide adoption of auto portability.

Williams is an innovator, including RCH’s singular innovation, Auto Portability, which was specially designed to help low-income and minority workers. Portability Services Network is built on a foundation of Retirement Clearinghouse’s intellectual property, technology, and operations.

Neal Ringquist is the Retirement Clearinghouse’s Executive Vice President & Chief Revenue Officer and is a member of RCH’s Executive Leadership Team. Ringquist is responsible for the company’s overall marketing strategy and for all institutional sales activities.

Ringquist has been at the forefront of developing and delivering innovative wealth management solutions to the retirement and investment advisory market for more than 25 years. He joined RCH from Advisor Software, Inc. (ASI), where he served as President and Chief Operating Officer for nine years, responsible for the day-to-day operations of this privately held financial technology company. Previously, Ringquist was vice president of sales and marketing for Morningstar Associates, LLC, a registered investment advisor. Earlier, he was executive vice president of sales, marketing, and client service for mPower.com, Inc.(acquired by Morningstar), which established him as one of the early entrants into the online advice movement.

The Power of AI for Retirement Planning Professionals with Spencer X. Smith (Ep. 48)

The Power of AI for Retirement Planning Professionals with Spencer X. Smith (Ep. 48)

Are you keeping up with the AI wave in the financial services industry?

Rebecca Hourihan chats with Spencer X. Smith from AmpliPhi Digital about the transformative power of AI in the retirement plan industry. Get ready to explore how AI has quickly evolved from a niche technology to an everyday tool for financial advisors. Spencer and Rebecca discuss the innovative ways AI is being embraced, share insightful case studies, and offer practical advice for integrating AI into your business to enhance efficiency and profitability. 

Spencer discusses:

  • The rapid adoption of AI since the release of ChatGPT 
  • How advisors are leveraging AI for time savings and efficiency 
  • Case studies of early AI adopters in the financial sector
  • The upcoming trend of AI agents for task automation
  • Practical tips for using AI to tailor communications and better understand client language
  • And more

Resources:

Connect With Rebecca Hourihan: 

Connect With Spencer X. Smith:

About Our Guest:

After starting his career at IBM during the Y2K days, Spencer X. Smith has always been an early adopter of new technology, with a passion for teaching others what he learns. This dedication to education has led Spencer to deliver over 300 in-person speeches, including at prestigious venues like the New York Stock Exchange, Gillette Stadium in Boston, and the Superdome in New Orleans. From 2008 to 2015, Spencer worked as a 401(k) wholesaler. Since then, he has been a regular presenter at the NAPA 401(k) Summit, the nation’s largest retirement plans conference. The rise of “DeFi Summer” in 2020 sparked Spencer’s deep interest in cryptocurrency and all things Web3, including NFTs, metaverses, and blockchains. Spencer is also among the first graduates of the Economics of Blockchain & Digital Assets program at the University of Pennsylvania’s Wharton School of Business.

Why Financial Wellness Programs Often Miss the Mark (Ep.45)

Why Financial Wellness Programs Often Miss the Mark (Ep.45)

Rebecca Hourihan speaks with Blake Allison, founder and CEO of LifeCents, on the evolving concept of financial wellness, its challenges, and how it impacts both employers and employees. He emphasizes the need for personalized financial wellness programs and critiques overly complex, one-size-fits-all programs, advocating instead for tailored approaches that consider each employee’s unique financial situation, stressors, and goals. Blake highlights the importance of measuring success through behavioral changes rather than just numerical outcomes, advocating for a more holistic approach to financial health.

Gain insight from today’s conversation as Rebecca and Blake highlight:

  • People are more than numbers–what truly defines financial wellness
  • Serving diverse employee needs–the significance of financial access and inclusion
  • Beyond the bottom line–why every employer should invest in financial wellness 
  • How LifeCents is Redefining Financial Wellness Programs
  • The pitfalls of current financial wellness programs and how LifeCents innovates
  • And more

Connect With Rebecca Hourihan: 

Connect With Blake Allison:

About Our Guest:

Blake founded LifeCents with a mission to empower individuals by making financial health accessible, personalized, and behaviorally driven. Since 2005, Blake has championed a holistic approach to financial wellness, pioneering LifeCents as an adaptive platform that responds to each user’s unique needs, values, and goals. Under his leadership, LifeCents has set a new standard in the industry by combining technology, behavioral insights, and inclusivity to transform the way people engage with their financial health—changing lives and redefining what it means to be financially well.

Creating Compelling Video Content with Laura Garfield (Ep. 44)

Creating Compelling Video Content with Laura Garfield (Ep. 44)

Rebecca Hourihan is joined by Laura Garfield, co-founder of Idea Decanter, to discuss the evolution and significance of short-form content and video marketing, particularly for financial advisors. Laura emphasizes the importance of adapting to your audience’s evolving preferences, leveraging video for effective communication, and utilizing AI tools to enhance video production.

Gain insight and actionable takeaways surrounding:

  • Short-form video content 
  • How to structure compelling video marketing strategies 
  • AI’s role in enhancing video creation and engagement
  • Maintaining consistency in content creation
  • And more

Connect With Laura Garfield:

Connect With Rebecca Hourihan: 

About Our Guest:

Laura Garfield spent her teenage years idolizing Jane Pauley and Katie Couric. A thirst for learning and a love of writing had her hooked on broadcast journalism – where you didn’t have to know everything except how to ask the right questions. After graduation, Laura landed her first news gig at a tiny TV station in Hastings, Nebraska. Over the span of more than a decade, she worked her way up through stations in Omaha and New Orleans to a position at CBS News in New York and then CNN in Atlanta. 

Retirement Income Solutions with Nevin Adams (Ep.42)

Retirement Income Solutions with Nevin Adams (Ep.42)

In this episode, Rebecca is honored to welcome Nevin Adams, a legendary figure in the retirement planning industry. With a career spanning nearly five decades, Nevin has played a pivotal role in shaping the landscape of retirement plans. His wealth of experience and knowledge is undeniable as he shares his insights and future projections.

Dive into the transformative impact of target date funds, the advent of automatic enrollment, and the challenges with retirement income solutions as Rebecca and Nevin discuss:

  • How target date funds have simplified the investment process for 401(k) participants
  • Why automatic enrollment could change significantly increase participation rates
  • Challenges and missed opportunities regarding retirement income
  • Forecasted growth and changes in the 401(k) industry by 2030.
  • And more

Resources:

Connect With Nevin Adams:

Connect With Rebecca Hourihan: 

About Our Guest:

Now “retired” (whatever that means), Nevin is the former Chief Content Officer and Head of Retirement Research for the American Retirement Association.  One of the retirement industry’s most prolific writers, these days he’s “retired”, which means he writes less but continues to keep his eye on developments in, and threats to, the nation’s private retirement system.  In addition to helping guide the agenda development for the NAPA 401(k) Summit, he’s also the “Nevin” in the Nevin & Fred podcast (along with renowned ERISA attorney Fred Reish), offering irreverent, but relevant perspectives on the critical issues confronting plan sponsors, advisors, and retirement industry professionals.