About Francis LLC's Fiduciary Advice @ Work Podcast
Francis Investment Counsel has rebranded and is now known as Francis LLC. The Fiduciary Advice @ Work Podcast discusses the latest retirement plan industry trends and issues affecting plan fiduciaries.
Marquette University: Plan Sponsor Insights (Part 3 of 3) – Securing Plan Assets and Participant Data
Ensuring Adherence to Plan Documents. In the third and final part of this three-part conversation, Marquette University's Claudia Paetsch (Vice President for Human Resources) and Jessica Franken (Associate General Counsel) discuss the steps they’ve taken to improve their operational controls and cybersecurity practices.
During this episode, we cover:
· Performing operational review on plan document provisions (2:00)
· Perception of plan operation vs. Intention of plan documents (7:43)
· Ensuring security of assets and accounts and privacy with participant information (11:01)
· Marquette’s meaningful changes to employee retirement benefit (17:14)
Learn more at https://www.francisinvco.com/.
28 Sept 2022
Marquette University: Plan Sponsor Insights (Part 2 of 3) – Monitoring Plan Costs
Monitoring Plan Costs. In part two of this three-part conversation, Claudia Paetsch (Vice President for Human Resources) and Jessica Franken (Associate General Counsel) discuss the effective steps they’ve taken to better manage and ultimately reduce Marquette’s plan costs.
During this episode, we cover:
· What has contributed to Marquette’s great ability to monitor plan costs over the years and how Francis has contributed (1:50)
· Asset-based vs. Participant-based fee methods (3:44)
· Participant-focused approach to paying service provider (7:58)
· Wisdom for peers at other institutions (14:50)
Learn more at https://www.francisinvco.com/.
28 Sept 2022
Marquette University: Plan Sponsor Insights (Part 1 of 3) – Improving Governance Documents
Improving Governance Documents. Get first-hand plan sponsor insights from Marquette University. In part one of this three-part conversation, we hear from Claudia Paetsch (Vice President for Human Resources) and Jessica Franken (Associate General Counsel) as we discuss the important steps they’ve taken to improve their plan governance documents and their administrative procedures.
During this episode, we cover:
· Need for independent advisor for Retirement Plan Committee (1:24)
· Typical growth areas for governance documents (3:34)
· What initiatives are coming up next to improve Marquette’s retirement plan benefit (8:45)
· Operational audit of communication from recordkeeper (14:00)
· Meaningful changes to Marquette’s retirement benefit (16:38)
Learn more at https://www.francisinvco.com/.
25 Aug 2021
11 - Olmsted Medical Center: Enhancing the Participant Experience, Part 2
Get first-hand plan sponsor insights from Olmsted Medical Center. In part two of this conversation, we discuss how Olmsted enhanced the plan participant experience by expanding financial wellness services and modifying their recordkeeper’s marketing practices, specifically covering:
Why Olmsted expanded its approach to employee financial education and advice (1:53)
Concerns Olmsted identified in its recordkeeper’s marketing strategy (6:07)
Tips for plan sponsors to minimize risks associated with recordkeepers’ marketing tactics (7:51)
Four recordkeeping practices plan sponsors should be aware of in order to limit their fiduciary exposure (15:04)
The information presented is from sources believed to be reliable but Francis Investment Counsel cannot guarantee its accuracy or completeness. Olmsted Medical Center retains Francis Investment Counsel as its 3(21) investment adviser for investment consulting and employee financial wellness services. Neither Olmsted, nor any of its representatives, were compensated for participation in this podcast, and there are no conflicts of interest to be disclosed. The information and experience described by Olmsted is not necessarily representative of all Francis Investment Counsel clients. MoneyAdvice@Work® is offered through Francis Investment Counsel, a Registered Investment Adviser with the SEC. Francis Investment Counsel is not a registered broker/dealer. Neither the firm nor any employee is licensed to sell or be compensated for the recommendation of any financial products or product providers.
12 Aug 2021
10 - Olmsted Medical Center: Proactive Plan Cost Management, Part 1
Get first-hand plan sponsor insights from Olmsted Medical Center. In part one of this two-part conversation, we discuss the impact of proactive plan cost management, including:
Why improving fee transparency mattered to Olmsted (5:10)
How to better match retirement plan recordkeepers' responsibilities with their compensation (11:45)
What impact investment share class selection has on fees (16:03)
The trust employees place in their employers (21:21)
Strategies that work best for equitable cost allocation (22:40)
The information presented is from sources believed to be reliable but Francis Investment Counsel cannot guarantee its accuracy or completeness. Olmsted Medical Center retains Francis Investment Counsel as its 3(21) investment adviser for investment consulting and employee financial wellness services. Neither Olmsted, nor any of its representatives, were compensated for participation in this podcast, and there are no conflicts of interest to be disclosed. The information and experience described by Olmsted is not necessarily representative of all Francis Investment Counsel clients. MoneyAdvice@Work® is offered through Francis Investment Counsel, a Registered Investment Adviser with the SEC. Francis Investment Counsel is not a registered broker/dealer. Neither the firm nor any employee is licensed to sell or be compensated for the recommendation of any financial products or product providers.
21 Jan 2021
09 - Is Financial Wellness a Passing Fad?
In this episode, we focus our discussion on the concept of financial wellness. While its popularity resulted in an explosion of services and solutions, will this interest last? Join experts from our team as we explore:
What financial wellness looks like in practice (and what’s often missing)
Overcoming common obstacles to implementing financial wellness
The evolution of financial wellness and what that will look like within the workplace
28 Jul 2020
08 - Money and Diversity: A Path to Promoting Equality in the Workplace
In this episode of the Fiduciary Advice @ Work podcast, we sit down with two of our Money Advisors and tackle the topic of money and diversity. We discuss what interacting with diverse employee populations has taught us and continue our conversation by covering:
Why social and cultural factors may be overlooked in the financial planning process
What employers can do to address the financial needs of their diverse workforces
How financial wellness benefits can promote equality in the workplace and broader community
11 Jun 2020
07 - The Way Back: Economic Recovery in the Wake of COVID-19
Director of Research, Ed McIlveen (https://www.francisinvco.com/about-us/#mcilveen), welcomes Managing Principal and Portfolio Manager, Scott Priebe (https://www.linkedin.com/in/w-scott-priebe-a010ba4), from Geneva Capital Management (https://www.genevacap.com/). Join them as they discuss how the COVID-19 global pandemic has affected their macroeconomic outlook, detailing more specifically:
Adjustments to investment strategy in the face of so many unknowns
Lessons learned by comparing recent market declines with the financial collapse of 2008
Factors that will influence the speed and strength of economic recovery
Themes to keep in focus when evaluating investable opportunities
14 May 2020
06 - Mastering Emotions in the Midst of Market Volatility
Market volatility accentuates the pain of negative emotions and the persuasive drive to react impulsively. In this episode, we talk with members of Francis Investment Counsel’s investment research team and cover why negative emotions are dangerous for investors and what to do when faced with them, what broader trends should attract investors’ attention, and why investment research matters, especially for plan fiduciaries.
23 Apr 2020
05 - The Power of Financial Advice
In this episode, with the backdrop of a world-wide pandemic and a roller-coaster of market volatility, we discuss the powerful impact of financial advice, including:
How we specifically define financial advice and why that definition matters
The barriers employees face to obtaining financial advice
The value - to both employees and employers - of financial advisory relationships in the workplace
13 Feb 2020
04 - How to Evaluate a Recordkeeping Relationship
In this episode of the Fiduciary Advice @ Work podcast, experts from Francis Investment Counsel discuss the role of a recordkeeper to a retirement plan benefit, trends in recordkeeping across the industry, and key elements for plan sponsors to focus on when evaluating their recordkeeping relationship.
In this episode, we focus on important elements of a plan sponsor's recordkeeping relationship, including:
The role a recordkeeper fulfills in comparison to other plan service providers
Challenges recordkeepers face in a consolidating marketplace and how plan sponsors should respond
Key factors to consider in the event a plan sponsor conducts a recordkeeper evaluation
"Where selection [of a recordkeeper] matters most is when it comes to the consultative nature of the relationship ... Is the team experienced? Are they proactive? ... Those less tangible features are what separate really good relationships from great relationships."
- Kevin Skow, Vice President
17 Dec 2019
03 - The Due Diligence Process for Managed Accounts
In this episode, we dive into the due diligence process for evaluating managed account service providers. Our discussion covers:
Why customization does not “turn off” the need for due diligence
What specific topics to address with a managed accounts service provider
What to do if a service provider cannot fulfill the requirements of the due diligence process
Tips and examples of the process from client interactions
https://www.francisinvco.com/ (https://www.francisinvco.com/)
20 Nov 2019
02 - The Basics of Managed Accounts
How employees invest their retirement savings within their employer-sponsored retirement plans is one of the most important workplace decisions they will make. To help with this decision, plan sponsors may consider offering managed accounts. What are managed accounts? When does this offering make sense for plan participants? In this episode of the Fiduciary Advice @ Work podcast, we explain what plan sponsors need to know when it comes to the basics of managed accounts.
Interested in learning more about how Francis Investment Counsel can help your company? Visit our website (https://www.francisinvco.com/) (https://www.francisinvco.com (https://www.francisinvco.com/))
7 Oct 2019
01 - 401k Cyber Security
To a cyber criminal, the retirement plan industry looks like a big candy store with over five trillion dollars in liquid assets. It’s up to plan sponsors to not only recognize the risk of cyber crime, but also proactively defend their retirement plans and participants. In this episode of the Fiduciary Advice @ Work podcast, we discuss what plan sponsors and participants can do to protect this important benefit.
Interested in learning more about how Francis Investment Counsel can help your company? Visit our website (https://www.francisinvco.com/) (https://www.francisinvco.com (https://www.francisinvco.com/))
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