A year ago, Charlotte Hickey of BlackRock and Zachary Rosenoff of Marsh McLennan Agency joined Gray to Great for a conversation about private markets in defined contribution (DC) plans. In this follow-up episode, host Dan Dal Degan reconnects with Charlotte and welcomes a new voice to the conversation: Josh Anderson, AIF®, CEPA®, Vice President, Investments at the Workplace Retirement Group of Raymond James.
In this follow-up episode, Josh and Charlotte revisit where the conversation stands today, from the initial wave of plan sponsor concern following the August 2025 executive order to the more constructive dialogue that has emerged since. They cover the DOL's proposed safe harbor framework for fiduciaries, the practical difference between 3(21) and 3(38) arrangements and how each affects adoption pace, why target date funds remain the most thoughtful entry point for most plans, and what advisors should be doing right now to stay ahead of this landscape. Charlotte's advice is direct: you do not have to be an expert in private markets, but your partners do.
More About Our Guests:
Charlotte Hickey is a Director of Defined Contribution National Accounts at BlackRock, based in Boston. With experience spanning roles at PIMCO and BlackRock, she brings deep expertise in DC plan strategy and the evolving conversation around private markets in retirement portfolios.
Josh Anderson, AIF®, CEPA®, is a Vice President, Investments and partner of the Workplace Retirement Group at Raymond James, based in Newtown, Pennsylvania. With over two decades of experience in retirement plan consulting, Josh guides companies through the full spectrum of plan strategy including governance, plan design, fiduciary responsibility, and service provider evaluation.
Chapters:
00:00 - Introducing Charlotte Hickey and Josh Anderson
01:40 - The Regulatory Climate Around Private Investments
05:31 - Balancing Risk and Opportunity as a Plan Advisor
09:08 - Understanding Private Market Allocations
12:29 - The Advisor's Role in an Evolving Landscape
14:52 - Communicating Complex Concepts to Plan Sponsors
17:36 - Career Reflections and Advice
Disclosures:
Great Gray® and Great Gray Trust Company are service marks used in connection with various fiduciary and non-fiduciary services offered by Great Gray Trust Company, LLC.
The opinions and thoughts expressed here are those of Charlotte Hickey of BlackRock and Josh Anderson of Raymond James, based on their professional and personal experience, and do not represent the views or opinions of BlackRock, Raymond James, Great Gray Trust Company, or any of their parent companies or affiliated entities.
What is Gray to Great?
Rewrite your practice growth playbook.
Hosted by Dan dal Degan—known to many as Triple D—this bi-monthly podcast pulls back the curtain on what it takes to thrive as a corporate retirement plan advisor in an increasingly tech-centric business world.
As a former powerhouse sales leader at Salesforce and Oracle, now sitting on the board of Great Gray Trust’s holding company, Dan’s sales experience and curiosity provoke compelling conversations with top advisors.
Each episode of ‘Gray to Great’ focuses on the crucial parts of the business that often get overlooked: prospecting, referral business, challenger selling, client service, tech adoption, and cutting-edge marketing tactics.
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