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SVP, Head of Investments
401(k) Investment Vehicles Beyond Mutual Funds
Collective Investment Trusts, Separate Accounts & ETFs
Guest: Jeff Kletti, CFA
You might be asking yourself, what else is there and why should I consider any investment vehicle other than a mutual fund? Well, if those thoughts passed through your head, this episode is a great way to get answers to those questions! To explore the topic I have Jeff Kletti, a CFA and the Senior Vice President of Investments at Wells Fargo Institutional Retirement Trust with me today. With all of the attention and focus on 401(k) plan fees and the rapid improvements in technology, alternative investment vehicles such as Collective Investment Trusts, commonly referred to as CITs, Separate Accounts and Exchange Traded Funds otherwise know as ETFs are gaining more assets each year within 401(k) plans. We start with thoughts on why retirement plan sponsors are even entertaining investment vehicles beyond traditional mutual funds. Then we unravel how they are either similar or different from mutual funds. Jeff also provides great questions for plan fiduciaries to ask when exploring alternative investment vehicles and his perspectives on a few different narratives that are floating around in the media around alternative investment vehicles. My hope is the that you walk, or drive away for that matter, with a better understand of when alternative investment vehicles could make sense and how to evaluate and determine if they would be suitable or beneficial for your plan and participants.
As a reminder, we release a valuable new episode each Friday, if you are not already subscribed to the podcast, please visit www.401kfridays.com/subscribe or search 401(k) Fridays on your favorite podcast app today! Now, I hope you enjoy our conversation!
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Jeff Kletti is Head of Investments for Wells Fargo Institutional Retirement and Trust. In this role Jeff is responsible for leading asset consulting, discretionary asset management, investment operations, and the compliance and risk management activities for Wells Fargo Institutional Retirement and Trust’s discretionary clients. Wells Fargo Institutional Retirement and Trust provides retirement plan services to more than 5,000 employer-sponsored retirement plans and custody accounts, representing 4 million participants and more than $330 billion in retirement account assets.
Jeff has over 25 years of investment experience. Prior to joining Wells Fargo, he was the director of investment management at Allianz Investment Management SE. In this position Jeff served as president of AIM LLC, a registered investment adviser, portfolio manager AZL Fusion Funds, chairman of the AZL Funds board of trustees, and trustee of the Allianz of America pension committee.
Jeff holds a B.A. in finance from the University of Wisconsin - Milwaukee and an MBA in finance from the University of Minnesota. He is a CFA® charter holder.