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Wise Rhino’s Dick Darian on Opportunities and Threats in DC Plans

RPA, Uncategorized, Wealth Management, , , , , ,

While RPAs and wealth managers have long been considered separate practices, retirement planning advisors are turning to wealth management in search of new clients while expanding their own expertise and why RIAs are starting to use DC plans as a way to find more Wealth Management clients.

In this episode, Fred Barstein, contributing editor for RPA Edge, is joined by Dick Darian, founder and CEO of Wise Rhino Group. They dive into RPAs and wealth management, discussing the differences while considering the opportunities for new business and clients.

Dick and Fred discuss:

  • Why RIAs should care about DC plans – what opportunities exist and more importantly the threats to their business if they ignore them.
  • What RPA aggregators like Captrust are doing to build relationships with participants and capture rollovers more efficiently.
  • The impact of state and potentially federal mandates on DC plans
  • Can Wealth Advisors survive under a single vertical, or is it better to consider a second vertical in retirement to help grow your business.

Connect with Dick Darian:

Connect with Fred Barstein:

About our Guest:

Dick spent 8 years on the executive committee of BlackRocks DC business and focused on the firm’s DCIO business. Before joining BlackRock, Dick was a founder and managing principal at National Retirement Partners (NRP), focusing on advisor firm recruiting, practice management and marketing. NRP was sold to LPL in July 2010.

He began his career in the retirement industry at Mutual Benefit Life in 1983 where he led the development and distribution of one the industry’s first 401(k) products. Dick joined Williams, Thacher and Rand (WTR), a NYC based benefit consulting firm in 1986 to build and manage the firm’s institutional retirement consulting group. Dick led the development of a thriving qualified plan consulting practice as well as an industry leading TPA recordkeeping operation. WTR was sold to ADP in 1995.

In 1996 Dick moved to the product distribution side of the business joining ReliaStar Financial, a Minneapolis MN based insurance company. There he helped develop, manage and distribute an early generation open architecture full service retirement product. Reliastar was sold to ING in 2001.

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Ascensus CEO David Musto on Acquisitions and Purposeful Tech

RPA, Wealth Management, , , , , ,

DC record keeper consolidation is heating up affecting almost every RPA who now must decide which providers will prevail in a highly competitive market.

Here from Ascensus CEO David Musto about their pending acquisition of the Newport Group and what it means for their clients as well as plans for the future of the combined companies.

In this episode, Fred Barstein, contributing editor for RPA Edge, is joined by David Musto, CEO of Ascensus. David shares his experience within the company, discussing why Ascensus decided to acquire Newport and how they can compete with the Fab Five.

David and Fred discuss:

  •  The rationale behind the acquisition of Newport by Ascensus
  • Integration plans and the impact on clients
  • Will record keeper consolidation continue and what will the profile of the winning organizations look like
  • Why financial advisors struggle to change platforms
  • What does the future horizon look like for Ascensus?

Connect with David Musto:

Connect with Fred Barstein:

About Guest:

As President and CEO of Ascensus, David is responsible for leading execution of the firm’s overall corporate strategy as well as overseeing all facets of its Retirement, FuturePlan, Government Savings, and Health & Benefits lines of business. He has more than 30 years of experience in the retirement, investment, and insurance industries. Prior to joining Ascensus, David was president of Great-West Investments. He earned a master’s degree in finance and international business from NYU, Stern School of Business, and a bachelor’s degree in finance from The College of William and Mary.

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Voya Financial’s Charlie Nelson on Optimizing Financial Planning

RPA, Wealth Management, , , ,

Automation through technology has paved the way for efficient and optimal financial planning and comprehension for financial advisors and their clients.

In this inaugural episode, Fred Barstein, contributing editor at Wealth Management’s RPA Edge, is joined by Charlie Nelson, vice chairman and chief growth officer at Voya Financial. Charlie shares his expertise of RPAs and how financial advisors can leverage their utility to benefit clients’ retirement plans, financial plans and employee benefit programs.

 Charlie and Fred discuss:

 How advisors can address the needs and opportunities of employee benefits using RPA

  • The first step an RPA can take into integrated savings
  • What RPAs need to consider when creating IRA retail strategies
  • How RPA optimizes financial outcomes

Connect With Charlie Nelson:

Connect with Fred Barstein:

About Our Guest:

Charles Nelson is vice chairman and chief growth officer of Voya Financial, Inc. (NYSE: VOYA), which helps Americans plan, invest and protect their savings — to get ready to retire better.

Nelson has more than 30 years of leadership experience in the retirement and employee benefits industry. He was named the second most influential player in the 401(k) market, according to the 401(k) Wire’s 2012 Most Influential ranking list. During his career, Nelson has managed all aspects of defined contribution businesses. He has overseen government, healthcare, nonprofit, 401(k) and FASCore institutional lines of business, while also managing recordkeeping, administration, operations, sales, products, financial results and broker-dealer services. Nelson began his career at Great-West in the employee benefits business marketing retirement plans, healthcare, stop loss and various benefit offerings.

 

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