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Entrepreneurs & Retirement Plans: Scoping, Selecting & Scaling a Sound Strategy
Guest: Pat Shelton
When we get the question of “What is the best strategy for me to save for retirement” and it comes for an entrepreneur, the answer is seldom as simple as it might seem. So, where and how do you start? We thought it would be helpful to cover a few key concepts and then follow the progression of an entrepreneur along their journey from a “solopreneur” with an idea or inspiration for a business to experiencing some success, hiring employees, scaling and eventually selling the business and weave in along the way how different retirement plan strategies could potentially support their personal and business goals along the way.
While I know some in our audience are not necessarily entrepreneurs, however I bet you know someone who is or maybe you might be one down the road! Be sure to share with your friends, colleagues or social networks that might have entrepreneurs, sole proprietors or business owners who could benefit! They can easily find the podcast on iTunes, their favorite podcast app by searching 401(k) Fridays or on the web at 401kfridays.com/Shelton.
Finally, This episode came about because of several questions from our listeners and some recent industry conversations I was a part of. If you have questions or a topic that you think could make for a great future episode, please shoot us an email to feedback@401kfridays.com.
Guest Bio
Patrick is the Managing Member of Benefit Plans Plus and has more than 25 years of retirement plan industry experience in banking/trust, insurance, and third party administrative environments. He is responsible for innovating and executing the firm’s business plan. Additionally, he specializes in financial advisor relations, including 401k sales prospecting presentations, vendor searches, and fiduciary consulting.
Patrick’s reputation as a nationally recognized industry thought leader has allowed him to give back through various platforms in the media, speaking at industry events, and participating on various panelist presentations.
Additionally, Patrick serves on the American Funds, Transamerica, and Lincoln TPA leadership roundtables. He is also a board member and past President of the National Institute of Pension Administrators (NIPA).
Patrick was the first recipient of Brown Smith Wallace’s prestigious Founder’s Award, which recognizes top employees for excellence in leadership and contribu on to firm growth since 2003.
A graduate of Westminster College in Fulton, Missouri, Patrick holds a Bachelor of Arts degree in Business/Committee Plan.
He has also earned the Group Benefits Associate (GBA) designation from the International Foundation of Employee Benefits Plans Certified Employee Benefit Specialist (CEBS) program. Patrick also holds a Life and Health Insurance License in the state of Missouri and is a member of the Financial Planning Association.
As a youth, Patrick had two separate basketball coaches that were former NBA players, and he also played college basketball. Patrick is also a fan of fantasy/ SIFI.