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A Broker, Cowboy or Consultant:
Which Type of 401(k) Advisor Are You Working With?
Guest: Robin Green
Employers and Retirement Plan Fiduciaries have the difficult task of selecting retirement plan advisors. The names and titles can be very confusing; of the 100,000 practicing advisors, 3,000 of them may be considered "DC specialists". Robin Green SVP & Head of Data & Analytics at Ann Schleck & Company, an Fi360 company, breaks down DC specialists into three sub-categories: The Broker, the Cowboy, and the Consultant. Additionally, we discuss three types of fiduciaries and what it means when an advisor claims 3(21), 3(38), and participant level fiduciary status. In addition, Robin provides three valuable questions to ask your current advisor in reference to the new DOL rule, we evaluate the difference between cost and value and how model portfolios, defaults, retirement solutions, fees and expertise should be considered while benchmarking and selecting advisor services.
Guest Bio
Robin Green is Senior Vice President and head of Data & Analytics at Ann Schleck & Co., an Fi360 company. She is responsible for the proprietary databases that track on DC Specialist advisor practice management, fee, service and overall business trends. She is responsible for the Fee Almanac®, Fee Benchmarker®, IRA Fee Evaluator and the FI360 Fiduciary Score. Robin specializes in developing useful patterns, ideas and insights based on data and more than 20 years of retirement industry experience. She is a research board member at DCIIA and a frequent speaker at industry conferences. Robin has a BA from Concordia University where she graduated Summa Cum Laude.