In this conversation, we discuss Pooled Employer Plans (PEPs) and their growing impact on the retirement industry. We explore the different flavors of PEPs and the importance of advisor centricity in designing and implementing these plans. We also touch on the challenges faced by HR and benefits teams, the concept of indirect fee compression for financial advisors, and the need for a flexible framework in PEPs.
The conversation highlights the importance of good data, the role of a pooled plan provider, and the value of insulating plan sponsors from operational failures. We also discuss the benefits and challenges of Pooled Employer Plans (PEPs). We explore topics such as the service-first approach, intraplan subsidization, the role of advisors in PEPs, the potential for cost savings, and the timeline for setting up a PEP.
Patrick emphasizes the importance of curiosity and education for advisors considering PEPs. He also shares lessons learned from their experience with PEPs, including the high level of interest from employers and the need for flexibility and collaboration. Listeners are encouraged to connect with Patrick on
LinkedIn or via
email to learn more.
What is The Fiduciary U™ Podcast?
The Fiduciary U™ Podcast shares the latest information on corporate retirement plan trends, ideas, and best practices to assist decision-makers and others in this industry in being more effective at their jobs. The show features industry experts across multiple disciplines who share their unique perspectives and actionable insights about how to provide a great retirement plan for employees in a rapidly changing world.
Your host, Josh Itzoe, is the Founder & CEO of FiduciaryWorks and the author of The Fiduciary Formula and Fixing the 401(k). The goal of Fiduciary U™ is to build a community that helps all of us enhance our knowledge, sharpen our skills, and stay at the forefront of industry trends so we can do our jobs better and make a positive impact in the lives of real people whose financial futures depend on us.