Be More Than A Fiduciary

In this episode of Friday Fiduciary Five, Eric Dyson talks about what makes a great fiduciary podcast episode. Eric explains why sharing successes and challenges can help listeners learn and give advisors a meaningful way to showcase their work.

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson discusses Anderson v. Intel and the role of benchmarks in claims of investment underperformance. He explains that benchmarks matter, but fiduciary prudence depends on evaluating the strategy and decision-making process, not performance alone.

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

Millions of workers lack access to a workplace retirement plan, while many eligible businesses may be missing out on tax credits that could help cover the costs. This episode explores how advisors and plan sponsors can find those incentives—and make sure they’re actually claimed.

In this episode, Eric and Bill discuss:

• The retirement plan coverage gap
• Secure 2.0 tax-credit opportunities
• Low utilization of available tax credits
• Tax Optics and advisor–CPA collaboration
• Ongoing plan-design and tax-benefit reviews

Key Takeaways:

• Tax credits can help reduce the cost of starting and contributing to a qualified retirement plan.
• An available credit won’t benefit a business unless someone identifies it and files for it.
• Advisors can add value by coordinating with tax professionals, not just recommending a plan.
• Technology can help flag potential credits, but a tax professional still needs to validate and file them.
• Plan sponsors should revisit plan design and available tax benefits regularly, even when a plan has been in place for years.

“If you get a tax credit for $1, the government is giving you $1, so that $5,000 is $5,000. It's not a deduction.” - Bill Chetney Jr.

Bill Chetney is an industry professional with more than a decade of experience working with financial advisors, retirement plan providers, and businesses. Today, Bill is part of the leadership team at (k)new Era, where he works with financial professionals across the country and focuses on best practices, business development, and technology-driven growth. Bill is passionate about the future of the retirement industry and, in particular, the opportunity to expand retirement-plan access to millions of Americans. He is also a strong advocate for helping professionals and business owners understand the opportunities created by SECURE 2.0 and the incentives available.

Connect with Bill Chetney Jr.:

Website: https://knewera401k.com/#team 

LinkedIn: https://www.linkedin.com/in/wchetney/ 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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

The information and content of this podcast are general in nature and are 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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about private assets in retirement plans as part of DOL-proposed guidance, Committee control vs. 3(38) discretionary authority, and investment policy statements as a control mechanism for the committee. 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

Private assets are flooding into the defined contribution conversation — but are they a breakthrough or a bogeyman? Brandon Shea of T. Rowe Price breaks down what private equity, infrastructure, and credit actually are, and the handful of questions every committee should ask before they ever say yes or no. 

In this episode, Eric and Brandon Shea discuss:

• Private assets 101: equity, infrastructure, credit
• Why private assets remain optional, not mandatory
• Liquidity vs. valuation in target date structures
• The committee's evolving due diligence framework
• Plan size, advisors, and practical implementation

Key Takeaways:

• Private assets are a tool, not a destination — the goal is helping participants build and preserve enough savings for retirement.
• Complexity belongs to the professional asset manager. The committee's job stays where it's always been: portfolio-level oversight of philosophy, glide path, fees, performance, and risk.
• Participant liquidity and investment liquidity are two different things — a participant can have daily access even when underlying holdings don't trade daily.
• Don't mistake infrequent pricing for low volatility; smoother reported returns may reflect valuation timing rather than underlying economics.
• Core questions don't scale with plan size — a $25 million plan and a $2 billion plan ask the same things; only the depth of documentation and resources differ.
• Bonus: a documented "no" is a valid fiduciary outcome — it’s OK to get educated and then decide a particular direction, which includes declining a certain service or strategy.  Record the process and the reasoning.

“Keep the decision at the portfolio level. Private assets are not a goal by themselves. Participant outcomes are the goal.” - Brandon Shea

Brandon Shea is a defined contribution strategist for the Global Retirement Strategy team. The team leads an enterprise retirement strategy, advises on the development of new products and services, and helps amplify the firm’s voice in retirement security-related public policy initiatives. Brandon is a vice president of T. Rowe Price Associates, Inc.

Brandon’s investment experience began in 2000, and he has been with T. Rowe Price since 2017, beginning as a defined contribution investment-only regional consultant. Prior to this, Brandon held multiple sales leadership roles with RidgeWorth Investments, Pioneer Investments, Salomon Brothers Asset Management, and Transamerica Capital.

Brandon earned a B.A. in political science, with minors in economics and management information systems, from Miami University of Ohio. He is a Series 6, 7, and 63 registered representative. 

Connect with Brandon Shea:

Website: https://www.troweprice.com/en/us 

LinkedIn: https://www.linkedin.com/in/brshea/ 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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

The information and content of this podcast are general in nature and are 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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about how fiduciaries should remember not only the tragedy of September 11th, but also the spirit of service, unity, and responsibility that defined September 12th. 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

What if choosing a retirement plan advisor wasn’t about who’s cheapest, but who actually moves the needle for your employees and your HR team? In this episode, you’ll learn how to evaluate advisors like a large plan committee—no matter your plan size—and what “good” really looks like in fiduciary process, education, and fees.

In this episode, Eric and Shannon Edwards discuss:

• Defining fiduciary duties and basic responsibilities
• When and how to run an advisor search or benchmark
• What differentiates a truly great retirement plan advisor
• Participant education, KPIs, and small-plan governance
• Evaluating fees, services, and culture/fit with advisors

Key Takeaways:

• Before looking at advisor proposals, plan sponsors need to clearly define their priorities and how they want to impact participant outcomes; the search should flow from those needs, not from marketing materials.
• Fiduciary excellence is grounded in process and documentation—understanding duties like prudence and loyalty and being able to “tell the fiduciary story” through meeting records.
• A strong advisor goes beyond reporting data to interpreting it, identifying specific problems (like loan usage or low participation) and proposing concrete, customized solutions.
• Fees should be evaluated in the context of services and value delivered, using periodic benchmarking or competitive bids, and sponsors must know exactly what they pay and what they receive in return.
• Even small and micro plans can borrow governance practices from large committees—such as regular touchpoints, clear agendas, and documented decisions—without making the process overly complex.

“The advisor who is helping you look at data and understand what you need to do—that's what you're looking for.” - Eric Dyson

Connect with Shannon Edwards:

Website: https://www.tristarpension.com/   

LinkedIn: https://www.linkedin.com/in/shannonedwardsplanconsultant/ 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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

The information and content of this podcast are general in nature and are 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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

In this solo episode, Eric Dyson unveils Polaris, a governance framework designed to turn IPS language into disciplined, principled fiduciary action.

In this episode, Eric discusses:

• Mission and focus of 90 North Consulting
• Why investment policy statements matter under ERISA
• The concept of structured discretion in IPS language
• Documentation, monitoring, and fiduciary governance
• How Polaris evaluates and strengthens investment policy statements

Key Takeaways:

• An investment policy statement is more than a legal or investment document; it is fundamentally a fiduciary governance document that should help fiduciaries make better decisions.
• Overly rigid IPS language can force imprudent outcomes, while overly flexible language undermines governance; the goal is “structured discretion” that creates clear decision points.
• Under ERISA, drafting and determining the terms of an IPS is itself a fiduciary act, and fiduciaries must generally act in accordance with the IPS as a governing document.
• Good governance is not only about prudent decisions but also about documenting the process in a way that demonstrates care, skill, prudence, and diligence if later scrutinized.
• Polaris provides a multi-lens framework—trust law, ERISA, DOL guidance, and investment governance best practices—to clarify responsibilities, delegation, and monitoring without simply making the IPS longer.

“Documentation is not a substitute for prudence; it's evidence that the prudent process actually occurred.” - Eric Dyson

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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

The information and content of this podcast are general in nature and are 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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about what it actually means to lead as a fiduciary—not just follow the rules. Eric walks through eight signature principles of thoughtful fiduciary leadership, showing how committees can move beyond checklists to a disciplined framework that keeps participants at the center of every decision.

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about effective fiduciary leadership and how it relies on a consistent framework of principles rather than just following specific regulations or reacting to changing environments.

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or by Executive Director Eric Dyson.