Fiduciary vs Settlor Decisions

Be More Than A Fiduciary

MP3•Pagina principale dell'episodio

1:14:43

Artificial intelligence is evolving at an unprecedented pace—what does that mean for the future of technology, venture capital, business, and even our understanding of ourselves? Award-winning journalist and writer Anil Ananthaswamy joins us for our latest episode to discuss his latest book Why Machines Learn: The Elegant Math Behind Modern AI . Anil helps us explore the journey and many breakthroughs that have propelled machine learning from simple perceptrons to the sophisticated algorithms shaping today’s AI revolution, powering GPT and other models. The discussion aims to demystify some of the underlying mathematical concepts that power modern machine learning, to help everyone grasp this technology impacting our lives–even if your last math class was in high school. Anil walks us through the power of scaling laws, the shift from training to inference optimization, and the debate among AI’s pioneers about the road to AGI—should we be concerned, or are we still missing key pieces of the puzzle? The conversation also delves into AI’s philosophical implications—could understanding how machines learn help us better understand ourselves? And what challenges remain before AI systems can truly operate with agency? If you enjoy this episode, please subscribe and leave us a review on your favorite podcast platform. Sign up for our newsletter at techsurgepodcast.com for exclusive insights and updates on upcoming TechSurge Live Summits. Links: Read Why Machines Learn, Anil’s latest book on the math behind AI https://www.amazon.com/Why-Machines-Learn-Elegant-Behind/dp/0593185749 Learn more about Anil Ananthaswamy’s work and writing https://anilananthaswamy.com/ Watch Anil Ananthaswamy’s TED Talk on AI and intelligence https://www.ted.com/speakers/anil_ananthaswamy Discover the MIT Knight Science Journalism Fellowship that shaped Anil’s AI research https://ksj.mit.edu/ Understand the Perceptron, the foundation of neural networks https://en.wikipedia.org/wiki/Perceptron Read about the Perceptron Convergence Theorem and its significance https://www.nature.com/articles/323533a0…

circa un anno fa 8:50

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.

The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

103 episodi

#MBA #Trading #Business #Podcasting Education #Eric Dyson

Fiduciary vs Settlor Decisions

Be More Than A Fiduciary

published circa un anno fa

MP3•Pagina principale dell'episodio

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.

103 episodi

#MBA #Trading #Business #Podcasting Education #Eric Dyson

Tutti gli episodi

1
FF5 #52 - Is the IPS a "Plan Document?" 8:02

3 hours fa8:02

8:02

In this episode of Friday Fiduciary Five, Eric talks about the importance of the Investment Policy Statement (IPS) as a plan document under ERISA. He references Interpretive Bulletin 2016-1, which clarifies that the IPS is a written guideline for fiduciaries, essential for maintaining plan investments. Eric emphasizes that drafting an IPS is a fiduciary act and must be adhered to unless it would be imprudent to do so. He cites a quick example of when that may not be prudent or appropriate in the case of a well-funded pension plan preparing to terminate which may want to have all assets in cash or other instruments for preservation of capital.. He advises against NOt having as IPS, as it provides a roadmap for fiduciaries, ensuring compliance with ERISA and maintaining prudence and loyalty in investment decisions. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

1
Chelle O'Keefe and Janine Moore: The Right Enterprise Benefit Strategy and The Right Partner 43:56

2 giorni fa43:56

43:56

Chelle O'Keefe, SPHR is a seasoned HR executive with over 20 years of experience, specializing in fostering growth and vibrant workplace cultures. As Chief People Officer at Platinum Dermatology Partners, she drives initiatives that build cohesive cultures, optimize processes, and elevate company results. Previously, as EVP and CHRO at Associa, Chelle championed innovative HR methodologies and diversity initiatives, significantly reducing employee turnover and increasing leadership diversity. She holds a BS in Psychology from Texas A&M University and an MS in Industrial/Organizational Psychology from Capella University. Passionate about creating workplaces where people thrive, Chelle’s expertise spans HR, change management, training, and marketing strategy. Janine Moore, AIF®, CPFA, CFS has over 25 years of financial services experience. She co-founded Peak Financial Group in 2002 and served as Principal until the HUB International acquisition in 2019. Janine specializes in 457(b) and 401(a) governmental deferred compensation plans and served as the City Director for the City of Houston’s deferred compensation plan for six years. Recognized as a Top Women Advisor All Star and Captain, she has led professional and non-profit organizations committed to improving lives and promoting women in business. Janine holds a BA in Journalism and Public Relations from The Ohio State University and multiple registrations through LPL Financial. She is also registered with Global Retirement Partners as an Investment Advisor Representative. A proud veteran, she served as a Staff Sergeant with the Ohio Air National Guard and received the Air Force Achievement Medal. In this episode, Eric, Chelle O'Keefe, and Janine Moore discuss: Benefit philosophy matters Building trust and partnership The potential for underutilized plans Building trust and transparency Simplify and educate Key Takeaways: Companies should intentionally develop a clear benefit philosophy that reflects their goals, demographics, and employee needs, rather than just maintaining a status quo plan. Successful service provider relationships are built on more than just expertise - they require listening, education, transparency, and the ability to have difficult conversations. Even seemingly neglected or underutilized 401(k) plans can be transformed through collaborative efforts, persistent advisors, and a commitment to participant outcomes. Financial professionals should focus on simplifying complex concepts, seeing the potential in plans, and educating clients in a way that doesn't make them feel overwhelmed or inadequate. “We are the reflection of all of the people that we spend the most time with.” - Chelle O'Keefe Connect with Chelle O'Keefe: LinkedIn: https://www.linkedin.com/in/chelleokeefe/ Connect with Janine Moore: LinkedIn: https://www.linkedin.com/in/janinejeffersonmoore/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

1
FF5 #51 - A Few of My Favorite Things - Revenue Share and Participant Fee Disclosures 13:26

7 giorni fa13:26

13:26

In this episode of Friday Fiduciary Five, Eric Dyson talks about Field Assistance Bulletin 2012-02R, focusing on participant-directed accounts and disclosure regulations (404(a)-5). Eric points out some details that are not commonly understood by many advisors and plan fiduciaries. He emphasizes the need for clear, understandable fee disclosures to participants, particularly those using revenue share or per capita fees. Eric highlights that fees must be expressed in terms a typical participant can understand. He provides examples from the bulletin, such as explaining legal expenses and record-keeping costs. Eric advises plan sponsors and advisors to collaborate and consult legal counsel to ensure compliance with these disclosure requirements. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

1
Jason Levy: The ABCs of CITs 24:51

9 giorni fa24:51

24:51

Jason is a key advisor at Great Gray Trust Company, specializing in CIT eligibility and investment-related matters. He negotiates agreements with plans, subadvisors, and service providers. Previously, Jason spent 13 years at Covington & Burling LLP, focusing on ERISA investing and policy issues. Committed to retirement policy, he has a proven track record of legislative and policy changes. Jason holds a JD from Columbia University and a BA from the University of Pennsylvania. He serves on the Pension Rights Center Board and frequently speaks at industry events, shaping the future of retirement planning. In this episode, Eric and Jason Levy discuss: The growing popularity of CITs Regulations involving CITs CIT availability Why fiduciaries should consider CITs Key Takeaways: Collective Investment Trusts (CITs) are growing in popularity as a cost-effective alternative to mutual funds for retirement plans, offering similar investment strategies at lower costs. CITs are regulated under a regime tailored specifically for retirement plans, providing enhanced investor protections compared to mutual funds. Historically, CITs were only accessible to the largest retirement plans, but minimum investment requirements have decreased, making them available to smaller and mid-sized plans as well. Plan fiduciaries and advisors should consider adding CITs to their investment lineups, as the cost savings can significantly impact participant retirement outcomes over time. “Even in the small plan market, CITs are available, even the smallest plans through those aggregators would be able to access CITs. Regardless of the size of your plan, CIT should be on your radar.” - Jason Levy Connect with Jason Levy: Website: https://greatgray.com/ Email: jason.levy@greatgray.com LinkedIn: https://www.linkedin.com/in/jason-levy-19783a17/ Great Gray Trust Company, LLC Collective Investment Funds (“Great Gray Funds”) are bank collective investment funds; they are not mutual funds. Great Gray Trust Company, LLC serves as the Trustee of the Great Gray Funds and maintains ultimate fiduciary authority over the management of, and investments made in, the Great Gray Funds. Great Gray Funds and their units are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933, respectively. Investments in the Great Gray Funds are not bank deposits or obligations of and are not insured or guaranteed by Great Gray Trust Company, LLC, any bank, the FDIC, the Federal Reserve, or any other governmental agency. The Great Gray Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the Great Gray Funds. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

1
FF5 #50 - A Few of My Favorite Things - Per Capita or Pro Rata? 10:48

14 giorni fa10:48

10:48

In this episode of Friday Fiduciary Five, Eric Dyson talks about the Department of Labor Field Assistance Bulletin 2003-03, which provides guidance on how to allocate plan expenses among participants. He discusses that plan sponsors should consider writing checks for plan expenses as an effective way to manage risks in regard to plan fees. Eric explains that per FAB 2003-03 ERISA does not specify a method for fee allocation, giving fiduciaries considerable discretion. He stresses the need for a deliberative process to weigh competing interests and ensure the method chosen is solely in the interest of participants, provided it has a rational basis. Eric also warns that methods unfairly benefiting committee members could raise prohibited transaction issues. He advises reviewing this bulletin in upcoming committee meetings. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

1
Patrick Williams: Fiduciary in a Box 37:54

16 giorni fa37:54

37:54

Patrick Williams has over 39 years of experience in retirement and employee benefits consulting. As the co-founder of Fiduciary in a Box®, he has created a cloud-based solution to help employers manage their fiduciary responsibilities effectively. With his deep understanding of the Consolidated Appropriations Act of 2021, Patrick offers invaluable insights to ensure compliance with evolving regulations for ERISA health plans. Patrick earned a Bachelor of Arts in Finance from the University of Minnesota and holds the Accredited Investment Fiduciary® (AIF®) designation. He has served as president of the Minnesota Association of Health Underwriters and is a founding member of the Minnesota and Florida Fiduciary Roundtables. A dynamic speaker, Patrick simplifies complex topics for his audience, making his presentations both educational and impactful. He is dedicated to guiding organizations toward achieving fiduciary excellence. In this episode, Eric and Patrick Williams discuss: Comprehensive solution for fiduciary responsibilities Critical coverage areas for health plans and retirement plans Who can benefit from Fiduciary in a Box? Establishing repeatable processes as a manager Key Takeaways: Fiduciary in a Box is a comprehensive solution that helps you manage fiduciary responsibilities for both retirement and healthcare plans, providing a repeatable process and documentation. The platform covers critical areas such as governance, risk management, vendor relationships, and compliance with regulations like the Consolidated Appropriations Act (CAA). Fiduciary in a Box can be leveraged by various professionals, including employee benefits consultants, retirement plan consultants, and organizations focused on addressing healthcare cost and transparency challenges. As a young benefit manager, you can use Fiduciary in a Box to establish a repeatable process, evaluate vendor relationships, and communicate your organization's commitment to managing costs and compliance to participants and committees. “We've created a solution that you can manage both of those responsibilities: retirement plan, and health care, with one product, which is fiduciary in a box.” - Patrick Williams Connect with Patrick Williams: Website: https://www.fiduciaryinabox.com LinkedIn: https://www.linkedin.com/in/corporatefiduciary/ | https://www.linkedin.com/company/fiduciaryinabox/?viewAsMember=true Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

1
FF5 #49 - Plan Forfeiture Lawsuits - Part 2 7:22

21 giorni fa7:22

7:22

In this episode of Friday Fiduciary Five, Eric Dyson talks about forfeiture lawsuits in defined contribution plans, emphasizing the importance of understanding both IRS regulations and ERISA rules. He explains that forfeitures can be used to pay plan expenses, fund employer contributions, or provide additional benefits to participants in defined contribution plans. Eric advises reviewing plan documents and considering a waterfall provision for forfeiture use. He also highlights a recent lawsuit by the Schlichter firm against Charter Communications, alleging the plan document was not followed by failing to prioritize paying plan expenses first. Eric stresses the need for plan committees to consult with attorneys, record keepers, and advisors to ensure compliance. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

1
Robin Green: Advisor Search Best Practices 45:45

23 giorni fa45:45

45:45

For over 30 years, Robin Green has provided Investment Consultants and DC Advisors with competitive analyses, practice management coaching, client service strategies, and sales consulting. She started her career as a plan sponsor, overseeing retirement plans in the healthcare and manufacturing sectors. After being recruited by Ann Schleck at Deloitte Consulting, she dedicated 11 years to the retirement plan and health benefits industries. Prior to launching her own consulting firm in 2017, she served as Head of Research at Ann Schleck & Co., and then as Senior Vice President at Fi360 where she managed the Fiduciary Score. Throughout 2023 and 2024, Robin collaborated with many of the top 100 DC Advisor practices in the United States to help them benchmark their business against industry standards. This work involved RFP analysis, win/loss assessments, client satisfaction research, client retention strategies, and a competitive review of products and services, as well as coaching on business models and internal processes. Her consulting practice is underpinned by confidential, competitive insights collected from retirement advisors through the 2024 Level Up - DC Advisor Practice Management Benchmarking Study, which engaged 84 DC Specialist Advisors across 319 offices. Robin and her team conducted both qualitative interviews and quantitative research to gain insights into how retirement specialists manage their operations. Fortune 500 Benefit Providers engage Robin and WinMore Plans for ongoing coaching aimed at enhancing RFP responses, strengthening sales relationships, and ultimately securing more business. Robin provides tailored coaching, develops impactful messaging and collateral, refines existing communication, and streamlines processes to enhance efficiency and improve win rates. In this episode, Eric and Robin Green discuss: Making communications client-centric Finding the right cultural fit Having the right attitude during the search process Benchmarking against industry standards Key Takeaways: Advisors should focus on using "you/your" language in their written communications rather than "we/I/us" to make it more client-centric. Plan sponsors should work with a professional to conduct a thorough advisor evaluation and RFP process to ensure they find the right cultural fit. Both advisors and plan sponsors should be kind and appreciative throughout the advisor search process, even for those not selected. Advisors should learn more about benchmarking their practices against industry standards and strategies so that they could win more business. “The number one reason why I see plan sponsors choose one firm over another, is chemistry.” - Robin Green Connect with Robin Green: Website: https://winmoreplans.com/ LinkedIn: https://www.linkedin.com/in/robingreen/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

1
FF5 #48 - The Death of Revenue Share 6:57

28 giorni fa6:57

6:57

In this episode of Friday Fiduciary Five, Eric Dyson talks about the persistence of revenue share in 401(k) plans, despite some advisors and plan sponsors moving away from it. He highlights a significant flaw in the thinking and fiduciary process that revenue share can be used to “hide” from the participants (to a degree) fees assessed to their account(s). Eric emphasizes the importance of understanding revenue share and considering other potential options for fee structures. He references Field Assistance Bulletins 2012-02r and 2003-03, which outline disclosure requirements. He notes that many plans that use revenue share do not in his opinion meet the intent of FAB 2012-02r and stresses the need for clear communication to participants. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

1
Emily Short: Cyber Risk and Cyber Insurance Principles 38:00

4 weeks fa38:00

38:00

Emily Perry Short is currently the National Director of Cyber Product at The Baldwin Group regularly consulting on cyber risk management and insurance solutions across a variety of industries with a particular focus on technology, venture capital, and private equity risks. Emily has been in insurance in a variety of forms since 2014, originally as a lawyer focusing on professional liability insurance defense. Her experience as both a defense attorney and a cyber and technology broker gives her a unique perspective when it comes to analyzing cyber risks for clients. In addition to her Juris Doctor, Emily holds the Certified Information Privacy Professional (CIPP/US) designation, Cyber COPE designation from Carnegie Mellon, and the Registered Professional Liability Underwriter (RPLU) designation. In January, after a number of years on the Executive Committee, Emily stepped into the role of Chairwoman for TechAssure, an international association of insurance brokers specializing in technology-related risks. She regularly speaks on panels as a subject matter expert on cyber and technology risks. She is licensed to practice law in Kansas and Missouri. In this episode, Eric and Emily Short discuss: Four basic principles of risk management Working with a broker that can give appropriate coverage The risk of cyberattack incidents Cybersecurity is the responsibility of the whole organization Key Takeaways: Cyber risk management, like any risk management, involves 4 main concepts - accept the risk, avoid the risk altogether, transfer the risk, and mitigate the risk. Organizations should utilize a combination of these strategies. Cyber insurance policies are not standardized, so it's important to work with a broker who understands the nuances between different carrier policies and can help analyze the appropriate coverage. Cyber incidents can have significant financial and reputational impacts on organizations, so having an incident response plan that is regularly tested is crucial for being able to respond effectively. Cybersecurity is everyone's responsibility within an organization, not just the IT department's. Educating and training employees on cyber risks and best practices is essential for prevention. “Humans are the weak link. Here we are the ones who click on the phishing email. We reuse passwords when we shouldn't.” - Emily Short Connect with Emily Short: Website: https://baldwin.com/ LinkedIn: https://www.linkedin.com/in/emilyperryshort/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

1
Fiduciary vs Settlor Decisions 8:50

5 weeks fa8:50

8:50

In this episode of Friday Fiduciary Five, Eric Dyson talks about the differences between fiduciary and settlor decisions in the context of ERISA plans. Fiduciary decisions, such as cost and investment monitoring, must be made in the best interest of plan participants with a duties of loyalty and prudence. Settlor decisions, like plan design and plan benefit levels, involve aspects like matching contributions and auto-enrollment. Eric emphasizes the importance of committee members, particularly those involved with decisions made on behalf of the company, such finance professionals and in-house counsel, wear two different hats: one for the company and one for the plan participants. The two hat metaphor is not always simple and not always black and white, but serves as a foundation for making appropriate decisions as a fiduciary matter or as a settlor. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

1
Jania Stout: Cyber Security and the ERISA Advisor 29:08

5 weeks fa29:08

29:08

“Jania.” She’s one of those people in the ERISA world who only needs a first name mentioned and everyone knows who you are talking about. With over 25 years of experience in the retirement plan industry, Jania is a passionate and knowledgeable fiduciary leader dedicated to helping employers with fiduciary governance while also focusing on their employees' financial wellness goals. She has served as a Past President of the National Association of Plan Advisors (NAPA), providing leadership to the Plan Advisory industry to which she has devoted the past few decades. Jania is also a keynote speaker and writer who enjoys educating and engaging audiences on topics such as fiduciary governance, employee engagement, and behavioral finance. Her mission is to help working Americans feel less stressed and happier. In this episode, Eric and Jania Stout discuss: Developing a cybersecurity policy Strong passwords and two-factor authentication Monitoring cybersecurity practices Educating one’s self on cybersecurity Key Takeaways: Advisors should help plan sponsors develop a cybersecurity policy or process that includes regular review of record keeper cybersecurity practices and benchmarking against industry standards. Advisors should work with plan sponsors to ensure participants have set up strong passwords and enabled two-factor authentication to protect their accounts. Reviewing record keeper SOC 1 and SOC 2 reports is an important part of monitoring cybersecurity practices. Advisors should educate themselves on the DOL's cybersecurity guidance and ensure plan sponsors are aware of and implementing the recommended practices. “Read what the DOL suggests - understand what the DOL expects of a plan sponsor, because you're their advisor, so you need to know this as well as the plan sponsor, and then educate the plan sponsor, and then quantify the risk.” - Jania Stout Connect with Jania Stout: LinkedIn: https://www.linkedin.com/in/401kconsultant/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

1
FF5 #46 - The Plan Document - A Fiduciary Duty 4:59

6 weeks fa4:59

4:59

In this episode of Friday Fiduciary Five, Eric Dyson talks about the importance of adhering to the plan document in both ERISA-regulated health and retirement plans. He emphasizes the four basic fiduciary duties: loyalty, prudence, asset diversification, and following the plan document. He advises plan advisors and committee members to ensure the plan document is clear, integrated into HR systems, and understood by all committee members. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

1
Paul Horn: Cyber Security Best Practices 36:08

6 weeks fa36:08

36:08

Paul previously served as the Chief Information Security Officer for an independent Broker-Dealer with billions of dollars in assets under management and thousands of Advisors spread across the United States as well as a major defense contractor providing logistical services. Paul has been a part of several FINRA and SEC Cybersecurity sweeps and examinations and maintains a deep understanding of the regulatory requirements associated with financial institutions as well as prioritizing risk remediation activities. With a sister company operating in the tax preparation space and a large majority of Advisors having a separate tax practice Paul has a deep understanding of the IRS requirements set forth in the Strategic Threat Assessment & Response (STAR) work group to help protect taxpayers and the integrity of the tax ecosystem. Paul helps educate advisors on security requirements that are present in both businesses by drafting policies and procedures that are closely aligned to meet both business needs. Paul was also a 2016, 2015, 2014 & 2013 EC-Council Certified Chief Information Security Officer of the Year Finalist and was presented with the Excellence in Finance Leaders Award in recognition of his contributions to the Finance Industry at the 2019 FiNext Conference. Paul holds a Master of Science in Management with a concentration in Information Systems Security and a Bachelor of Science in Business Administration in Information Technology from Colorado Technical University. Paul has also served on a variety of Advisory Boards for information security-related topics and has a deep dedication to the information security community by mentoring other security professionals. Paul honorably served in the United States Air Force as a Special Agent and has an extensive physical and information security background from his time spent as an Agent. In this episode, Eric and Paul Horn discuss: The critical first step toward security The threat of human error Non-negotiable security measures Basic cybersecurity “hygiene” Key Takeaways: Performing a comprehensive cybersecurity risk assessment is the critical first step for organizations of all sizes to identify and address vulnerabilities. Human error, such as clicking on phishing links, remains the biggest cybersecurity threat, underscoring the importance of regular security awareness training. Multi-factor authentication is a non-negotiable security measure, not only for regulatory compliance but also for obtaining cyber insurance coverage. Small and mid-sized businesses often overlook basic cybersecurity hygiene like device encryption, patch management, and use of supported software versions, which can leave them exposed to significant risks. “If you can't do the basics, you're not going to be able to do the advanced stuff, or it's very easy to walk right in (a trap) because you're not doing the basic stuff.” - Paul Horn Connect with Paul Horn: Website: https://www.h2cyber.com/ LinkedIn: https://www.linkedin.com/in/paul-horn-4107861a/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances.…

1
FF5 #45 - ERISA Fiduciary Training Reference 10:27

7 weeks fa10:27