2019 Semi-Annual Meeting

Financial Wellness, Fiscal Fitness: How Many Steps Will That Take?

January 14/15/16, 2019

Sheraton Grand Phoenix Downtown
340 North 3rd Street
Phoenix AZ 85004




  • Can we agree on a definition of the term “financial wellness program”?
  • What are the elements of the industry-accepted program?
  • How will we convince employers of the need to implement a financial wellness program that addresses the diverse needs of their workforce?
  • How will we instill among participants an instinct and desire to seek out information to support sound financial decision-making?

Employees facing financial stress are less productive and more often absent from the workforce. For this reason, employers are genuinely interested in the financial wellness of their employees. Many seek to offer a program to enhance the financial wellness of their employees. However, needs of participants vary according to their life stage and skillset.

New workforce entrants struggle with the basics: budgeting, containing credit card debt, reimbursing student loans, budgeting expenses, and deciding how much to save for retirement. More mature workers are confronted with the more imminent reality of retirement readiness, perhaps dependent care, and their own health issues. Members of the C-Suite may need to address a heavy tax burden, succession planning consideration, and perhaps daunting business transition issues that involves the very survival of the firm. Employees in an IT occupation may be more comfortable with online tools poorly suited to address the learning needs of employees in relationship or service occupations. Employers’ quest for a solution to enhance the financial wellness of employees leads to a confusing medley of partial fixes, none of which address the needs of the entire population.

Plan advisors find themselves in a position to assemble a comprehensive program combining solutions available from a wide range of sources: their own advisory firm, the client’s retirement plan service provider, and third-party vendors. The program needs to fit the employer’s specific circumstances, and to address the needs of each segment of the workforce. At the January 2019 semi-annual meeting, Council members will discuss the necessary components of a program, and how to assemble disparate components into a cohesive program. At the June 2019 annual meeting, we will delve into the specifics of components addressing the fundamentals (budgeting, debt management, retirement plan contribution) well suited to new workforce entrants to age 35.

Key priorities are to encourage plan sponsor to adopt comprehensive programs, and to drive growing numbers of participants to utilize the tools made available to them.



Michael H. Gouldin CRPC®, AIF® – Gouldin & McCarthy
Steve J. Smith - VALIC


Matthew Beaulieu – Franklin Templeton Investments
Michael A. Coelho C(k)P® AIF®
Melissa Cowan – Morgan Stanley
Anthony Fiorenza CPFA, C(k)P®, AIF®, PPC™ - Summit Group Retirement Planners
Derek Fiorenza C(k)P®, CPFA, AIF®, PPC™, MSBA - Summit Group Retirement Planners
Taylor S. Garlesky – Charles Schwab
C. Andrew Harbour CFP® CIMA® – Morgan Stanley Graystone Consulting Atlanta
Joseph W. Mrozek CRPS® – Lincoln Financial Group
Kevin M. Murphy – Franklin Templeton Investments
Daniel J. Peluse AIF®, C(k)P®, CBFA, CRPS® - Wintrust Wealth Management
Chris Phillips – CUNA Mutual
Courtney Rougeau – J.P. Morgan Asset Management
Timothy M. Schannep CFP® - CBIZ
Scott L. Schlappi CEBS®, CPFA®, AIFA® - Wealth Plan Advisors
Christopher G. Venuti CIMA® - Century Financial Group
Charles E. Wenzel – Cohen & Steers


Sheraton Grand Phoenix Downtown
340 North 3rd Street
Phoenix AZ 85004


Monday, January 14

  7:15 a.m. Transportation to Pre-event Hike 
  8:00 a.m. Hike at McDowell Sonoran Preserve
10:45 a.m. Transportation to Hotel
12:00 p.m. Luncheon at The Deli Tavern
  1:30 p.m. Pre-Event Financial Literacy Strategy Session 
At this session, members of the financial literacy committee and others will engage in a series of presentations/ discussions of financial literacy programs to help decide what specific financial literacy initiatives the Council should undertake or support going forward.
  Maryvale A

A few words from our sponsor
Jason Key - Lincoln Financial Group


Context, Objective, and Instructions
Emcee: Thomas E. Hoffman, AIF®, CRPS®, CFS® - KAF Financial Advisors
Timekeeper and referee: Rob Jennings - Zions Bancorporation

 2:00 p.m.


Financial Literacy program presentation marathon 1

1. Foundations in Personal Finance by Ramsey Solutions
     Todd Ward - Ramsey Solutions
2. Money Matters by Boys and Girls Club
     Jared Byrd and Josh Stine  - BGCMP
3.  ASCPA 360 Financial Literacy Program and Game of Life event
      Speaker to be announced

 2:30 p.m. Refreshment Break

 2:45 p.m.


Financial Literacy program presentation marathon 2

4. Junior Achievement of Arizona
     Sam Alpert - Junior Achievement of Arizona
5. Transamerica Financial Literacy Program
     Charmaine Hughes-Lee
6. Everfi Inc.
     Katherine Coats-Thomas

 3:15 p.m.

Recap and Take-aways

 3:45 p.m. Refreshment Break

 4:00 p.m.

Financial Literacy program presentation marathon 3

7. FutureSmart Digital by MassMutual
    Brian Sweeney - MassMutual
8. Schwab Moneywise by Charles Schwab
    Jim West - Charles Schwab
9. Clarifi
    Derek Fiorenza C(k)P®, CPFA, AIF®, PPC™, MSBA - Summit Group Retirement Planners

 4:30 p.m. 

Next steps and Survey
Emcee: Thomas E. Hoffman, AIF®, CRPS®, CFS® - KAF Financial Advisors

 5:00 p.m.


 6:00 p.m. Sponsored Pre-event dinner at The Arrogant Butcher

Tuesday, January 15

8:00 a.m. Sponsored Continental Breakfast Buffet
8:30 a.m. Welcome
    Scott L. Schlappi CEBS®, CPFA®, AIFA® - Wealth Plan Advisors
  Paradise Valley
8:45 a.m. Goals and Objectives 
  Meeting Planning Committee Co-chair
   Michael H. Gouldin CRPC®, AIF® – Gouldin & McCarthy

  Paradise Valley
9:00 a.m. Two Approaches To Financial Wellness

Moderator: Andrew Harbour, CFP® CIMA® CRPS® - Morgan Stanley Graystone Consulting Atlanta

Panelists:   Barbara Bell-Dees - NASCO
                      Cheri Klyn - Vermeer Corporation

  Learn from a dialogue with two plan sponsors who have implemented a Financial Wellness program in their organization. Although Financial Wellness programs can be vastly different, both plan sponsors have achieved a level of success that commends industry recognition. What were their goal? Who initiated the program? What hurdles did they overcome? How do they measure success of their program? Why were they so successful? In what direction are they planning to evolve their program? What recommendations do they have for other plan advisors and plan sponsors interested in implementing a Financial Wellness program?
  Paradise Valley
10:00 a.m. Refreshment Break
10:15 a.m. Breakout Sessions – Financial Wellness For Three Segments (Advisor Panels)

Breakout Session 1 - Financial Wellness for Millennials and Gen Z
Moderator: Amber Harms - ADP Retirement Services
Panelists: David Stofer, ChFC®, CLU®, AIF® Mariner Retirement Advisors
                  Derek Fiorenza C(k)P®, CPFA, AIF®, PPC - Summit Group Retirement Planners
                   Glenn Able - Lockton Retirement
Maryvale A


Breakout Session 2 - Retirement Readiness
Moderator: Chris Phillips - CUNA Mutual
Panelists: Chuck Williams - Finspire
                    Kelly Majdan - Cabana Retirement Solutions
                    Harry James - Lockton Retirement


Breakout Session 3 - Unique Needs of the C-Suite
Moderator Michelle Morey - John Hancock Retirement Plan Services
Panelists: Andrew Harbour CFP® CIMA® CRPS® - Morgan Stanley Graystone Consulting Atlanta
                 Nathan Fisher AIF, CPFA - Fisher Investments 401(k) Solutions
                 Mark Ray - Praxis Consulting
North Mountain

  The C-suite is an important audience that every comprehensive financial wellness program should address.  It is also one of the most challenging.  Highly-compensated employees face a unique set of issues:  heavy tax burden, complex financial planning, succession planning needs, and perhaps daunting business issues that involve the survival of the firm.  As a result, “wellness” for this audience translates to terms such as financial success, wealth maximization, tax efficiency, and legacy planning.   At this session, panelists will discuss the breadth of solutions available to advisors that address the unique financial needs of the C-Suite.
11:15 a.m. General Session: Lessons From Building AI for Retirement Plans and What it Means for Plan Advisors 

Emcee: Michael H. Gouldin CRPC®, AIF® – Gouldin & McCarthy

Speaker:   Grant Easterbrook
                  Dream Forward

Grant Easterbrook - Co-Founder of Dream Forward - will give a short presentation on the lessons from three years of building a conversation AI chatbot focused on retirement. Grant will share insights from a dataset on the questions employees ask and show how technology can help boost participants' savings rate. The presentation will conclude with thoughts on the future of the retirement plan industry.

  Paradise Valley
12:15 p.m. Luncheon 
12:55 p.m. Opening 
  Emcee:   Michael H. Gouldin CRPC®, AIF® – Gouldin & McCarthy
1:00 p.m. General Session: Regulations and Legislation: Moving the Frontline
  Speaker:  Jason Roberts - Pension Resource Institute
  The potential enactment of the Retirement Enhancement and Savings Act of 2018 (RESA) bodes well for retirement plan coverage, opening a new frontier in the small and micro employer market with greater availability of Multi-Employer Plans (MEP). New legislation and regulation may also increase the visibility of income options among participants. Simultaneously, a proposed SEC rule on fiduciary responsibilities rekindles the debate on Best Interest
  Paradise Valley
2:00 p.m. Breakout Sessions: Best Practice Peer Discussion Roundtable
  Tough questions from your peers will keep you on your toes and help you stay ahead.
  Breakout Session 4 - Practice Consolidation and Scaleability of the Practice 
Moderator: Eric Garofalo - Principal Financial Group
Maryvale A

  Breakout Session 5 – Motivating Plan Sponsors to Adopt Best Practices in Plan Design
Moderator:  Brian Sweeney - MassMutual

  Breakout Session 6 – Finding New Ways to Add Value In Client Relationships
Moderator: Jeff Hemker - Invesco
North Mountain

3:00 p.m. Refreshment Break
3:15 p.m. General Session – Dissecting Two Litigation Case Studies
  Emcee: Michael H. Gouldin CRPC®, AIF® – Gouldin & McCarthy
  Speaker: Jason Roberts - Pension Resource Institute
  Paradise Valley
4:15 p.m. General Session – The Latest and Greatest in Investment MenuDesign, QDIA Selection and ERISA 3(38) Support
  Moderator: Jen  DeLong - AllianceBernstein
Panelists: John B. Abeyta CRPS® - The Abeyta Bueche & Sanders Group at Morgan Stanley
                   Marta Rodriguez, CFA - J.P. Morgan Asset Management
                   Vince Vicidomini - Mesirow Financial
  There is a lot going on in the world of investment menu design for defined contribution plans. A large share of plan assets are invested in QDIAs: managed accounts, custom model portfolios, and custom asset allocation funds are hot topics in QDIA selection. How should advisors think about these in relation to traditional target-date funds? Recent equity market volatility is raising the profile of alternative asset classes for use in QDIAs and in the array of core funds. Has their time finally come? Additionally, the use of ERISA 3(38) fiduciary services is growing but where is the demand coming from? Why is the service so important? What is the guarantee in the event of a breach of duty? How do plan sponsors and plan participants benefit of the latest and greatest in investment menu design, QDIA selection, and ERISA 3(38) support?
  Paradise Valley
5:15 p.m. Adjourn
6:00 p.m. Sponsored Event Dinner at Mancuso's Restaurant

Wednesday, January 16

7:30 a.m. Continental Breakfast Buffet
8:00 a.m. Opening Day Two
  Emcee: Michael H. Gouldin CRPC®, AIF® - Gouldin & McCarthy
8:05 a.m. General Session Panel – The Next Generation of Advisors
  Moderator: Derek Fiorenza C(K)P®, CPFA, AIF®, PPC, Summit Group Retirement Planners
  Panelists: Steve Dimitriou AIF®, C(k)P® and QFPC - Mayflower Advisors LLC
                   Erin Hall AIF®, C(k)P® - The Bermudez/Hall Retirement Plan Group of Wells Fargo Advisors
                   Scott Sides CRPS®, PPC - The Sides Group at RBC Wealth Management
  In the haystack, we can find diamonds who will ensure the retirement readiness of working Americans. In the midst of every new class of workforce entrants are the next-generation plan advisors, 100% committed to serving clients as financial consultants. They are concerned with debt consolidation, basic budgeting, as well as implementing simple saving strategies through employer-sponsored retirement programs. They are focused on ensuring that ALL Americans have an opportunity to retire and having coverage in the form of a retirement savings program and a financial advisor they can trust. Each elite advisor on our panel brings something unique to the table, a perspective to share: care for clients, fellow humans, and market conduct characteristic of Millennials and Gen Z, and the ability to speak to the unique challenge female advisors are facing in a male-dominated profession.
9:00 a.m. Breakout Sessions: Best Practice Peer Discussion Roundtable
  Tough questions from your peers will keep you on your toes and help you stay ahead.
  Breakout Session 7 – Service Models in the Small, Micro, and Mid- Market – Exchange of Advisor and Service Provider Views (Plan assets under $100 million)
Moderator: Lisa Smith - Fidelity Investments

  Breakout Session 8 – Service Models in the Large and Jumbo Market – Aggregation and Integration – Service Provider and Consultant Views (Plan assets $100 million and over)
Moderator: Doug Mason - Wells Fargo IRT
North Mountain

10:00 a.m. Refreshment Break
10:15 a.m. General Session – Dialogue With the Board
  Emcee: Michael H. Gouldin CRPC®, AIF® - Gouldin & McCarthy
Board:  Eric Garofalo – Principal Financial Group
                 Jeff Hemker CIMA® - INVESCO
                 Mike Kane CLU®, ChFC®, AIFA®, CBFA™ - Plan Sponsor Consultants
                 Troy Redstone AIF®, CFEI®, CBFA® - PHD Retirement Solutions
                 Sharon L. Schmid QPFC® Robert W. Baird
11:15 a.m. Closing

   Eric Henon - Executive Director, Retirement Advisor Council

Curtain Close Drawing
Brian McCarthy - Envestnet Retirement Solutions

 11:20 a.m. Meeting Adjourned
1:00 p.m. Health Savings Account Training (Sponsored)
  Presenter: Matthew Clarkin CHCS, CHSA® - Access Point HSA LLC

Training opportunity limited to the first 20 attendees.

The Certified Health Savings Adviser (CHSA®) training/designation program provides financial professionals the knowledge needed to take full advantage of the rapidly growing consumer-driven healthcare and HSA marketplace. The training/designation benefits your clients and your practice.

More than 500 financial and benefit professionals from 31 states have completed the program and have earned the CHSA® designation.

The CHSA® is more than just the rules and regulations surrounding health savings accounts. The CHSA® is designed to provide context as to how the HSA fits into the bigger picture of healthcare financing and retirement planning. In addition, information as to how one can successfully incorporate the HSA into his or her practice is provided.

The training is sponsored by OppenheimerFunds and three other firms to be announced. Advisors wishing to take the test that confers the CHSA® designation will be charged a $100 fee on location. Not all advisory and broker/dealer firms support the CHSA® designation. Please consult with your firm’s compliance officer before taking the test.

4:00 p.m. Training Adjourned


Sheraton Grand Phoenix Downtown
340 North 3rd Street
Phoenix AZ 85004

Reserve your guest room HERE





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