With over 25 years of experience in financial services, Kelly has a passion for helping employers optimize their retirement plans and empower their employees to achieve financial security and retire with confidence. Combining financial expertise with wellness coaching, Kelly enjoys crafting comprehensive strategies that support employees throughout their health and wealth journey. She holds key certifications in fiduciary retirement plan management (AIF, QPFC, CRPS) as well as functional health and wellness coaching (NBC-HWC, A-CFHC), enabling her to implement a whole-person strategy in retirement plan management.

She has also been recognized twice by The Financial Times, in September 2015 & 2016, as one of the “Top 401 Financial Advisers” in the 401(k) field and by NAPA, the National Association of Plan Advisors, as a 2017 and 2019 Top Woman Advisor All-Star in the retirement plan industry.

In this episode, Eric and Kelly Majdan discuss:

• Signs of success in financial wellness programs
• Understanding employees’ needs 
• The true measure of financial wellness program success 
• Focus on the people, not the numbers 

Key Takeaways:

• Financial wellness programs should expect 5-15% engagement initially, which is actually a sign of success, not failure. The goal is to help employees move through different stages of behavioral change at their own pace.
• Understanding employees' needs is critical - start with a comprehensive survey to identify what financial topics are most important to your workforce, and design programs that meet them where they are in their financial journey.
• Measuring success goes beyond traditional metrics. Look at engagement indicators like webinar attendance, article clicks, survey participation, and gradually expanding program participation over 2-3 years.
• The most important approach is remembering that wellness programs are about people, not just numbers. Connect with employees personally, provide hope through success stories, and create supportive, ongoing resources that recognize individuals are at different stages of financial readiness.

“Remember, you're dealing with people. Remember that they're not participants, they're not employees, they're not co-workers, they're not associates, they're people. Connect with them where they are and see them as the people that they are in front of you.” - Kelly Majdan

Connect with Kelly Majdan:

Website: https://www.onedigital.com/ 

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

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 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.

In this episode of Friday Fiduciary Five, Eric Dyson talks about two key principles in financial planning on his podcast. First, he asserts that individuals with debt problems often lack a written budget. Second, he notes that no one has ever regretted saving too much for retirement. Eric emphasizes the importance of starting early with retirement savings, using the example of a middle-income household saving 3% without auto-escalation, which can yield significant results over time. He also highlights the benefits of financial literacy and budgeting and the potential impact of even small savings contributions.

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 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.

Mike Dullaghan is the Director of Retirement Sales Execution for Franklin Templeton. He is responsible for providing thought leadership, promoting new content, and delivering the tools and resources that help enable the Retirement team to effectively market  Franklin Templeton products. Mr. Dullaghan is a regular contributor to Kiplinger’s “Building Wealth” newsletter. Previously, at Putnam Investments, he was the Director of Content and Sales Enablement for Putnam’s DCIO Team. Mr. Dullaghan received his Retirement Income Certificate, or RI(k), from the National Association of Plan Advisors (NAPA).

In this episode, Eric and Mike Dullaghan discuss:

• Automatic enrollment and automatic escalation
• The evolution of retirement income solutions 
• Regularly updating the plan design 
• The blurring of lines between retirement and wealth advisory 

Key Takeaways:

• For ERISA plans established since January 1, 2023, automatic enrollment and auto-escalation are now required, reflecting a shift toward helping more workers save effectively for retirement.
• There's a growing focus on creating in-plan guaranteed income options, with innovations aimed at providing personalized income solutions using technology like AI to help retirees manage their savings.
• Just like smartphone operating systems, retirement plans need periodic review to ensure they're optimized for changing workforce demographics and participant needs.
• With state mandates and demographic shifts, advisors are increasingly working across retirement plans and wealth management, creating new opportunities for comprehensive financial guidance.

“If we can boil it down to what's the why of retirement income, what's the how of retirement income, and what's the what, then I think we're going to be in a way, better place than we are today.” - Mike Dullaghan

Connect with Mike Dullaghan:

Website: https://www.franklintempleton.com/ 

LinkedIn: https://www.linkedin.com/in/mikedullaghan1/ 

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 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.

In this episode of Friday Fiduciary Five, Eric Dyson talks about the 80/20 rule, also known as the Pareto Principle, in the context of ERISA plans. He explains that 70-80% of assets and contributions are in target date funds, yet much time is spent evaluating the core lineup. Eric emphasizes the need to focus on the 20% of issues that drive 80% of outcomes, particularly in target date funds and managed accounts. He suggests that committees should prioritize evaluating these key areas to improve participant outcomes, and a reminder that the primary driver of retirement success is the amount contributed to the plan.

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 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.

Kevin has dedicated his career to helping people prepare for retirement. He assists corporate plan sponsors and their committees in meeting fiduciary responsibilities while guiding employees toward their financial goals.

With over 25 years in financial services, he is a Certified Investment Management Analyst and Accredited Investment Fiduciary Analyst. His expertise spans corporate retirement plan design, implementation, and distribution.

Before joining Raymond James in 2015, Kevin spent 24 years at Merrill Lynch. He holds a bachelor’s degree from Fordham University and is an active member of several professional organizations, including the Investment Management Consultants Association and the Society for Human Resource Management. He also serves on the leadership councils for the National Association of Plan Advisors and The Retirement Advisor Council.

Kevin is deeply committed to community service, currently serving on the Board of Directors for Rockland Hospital Guild and the Finance Committee for United Hospice of Rockland. He previously held leadership roles with Meals on Wheels of Rockland, St. Margaret of Antioch Church, and the Boy Scouts of America.

His contributions have earned him notable recognition, including Meals on Wheels Business Man of the Year (2015) and the Fordham University Community Leadership Award (2016). He has also been named to the Financial Times 401: Top U.S. Retirement Advisors annually since its inception.

In this episode, Eric and Kevin Mahoney discuss:

• The benefits of thoroughly documenting service hours
• Ensuring consistency in delivering value 
• Exercising caution when benchmarking services
• Engaging in holistic retirement planning

Key Takeaways:

• Thoroughly documenting the time and effort spent servicing each client is an important process for advisors who want to truly justify their fees, enhance client retention, and identify both high and low-value engagements.
• Establishing a fiduciary training program, detailed service plans, and accountability measures is essential to ensure advisors consistently deliver value commensurate with their fees.
• Benchmarking services and fees against industry standards is vital, but advisors must exercise caution in data input to avoid erroneous conclusions regarding fee competitiveness.
• Advisors should engage in holistic retirement planning, including employee education, to succeed in the industry, while committees must scrutinize advisors' processes and pricing to meet fiduciary obligations.

“If all you're speaking to is investments. You're going to struggle. You need to talk to the plan holistically. You need to talk to employee education. And you have to be committed to the best interest of the participants. And if you do that, I think there's staggering upside potential.” - Kevin Mahoney

Connect with Kevin Mahoney:

Website: https://www.raymondjames.com/mahoneygroupadvisors/ 

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

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 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.

In this episode of Friday Fiduciary Five, Eric Dyson breaks down the key differences between ERISA 3(21) investment advisors and ERISA 3(38) investment managers. He explains how these roles impact plan sponsors, committee responsibilities, and investment decision-making.

Eric highlights the main advantage of hiring a 3(38) investment manager. He also discusses the cost structure, the importance of monitoring fiduciary duties, and the potential risks of over-delegation. For plan sponsors deciding between these two fiduciary roles, he provides practical guidance on evaluating advisors, understanding the investment policy statement, and ensuring clear communication with service providers.

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 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.

Marcia Wagner is the founder of The Wagner Law Group, one of the nation’s largest and most highly regarded law firms specializing in ERISA, employee benefits, and executive compensation, and has practiced employee benefits law for over 38 years. Ms. Wagner is an authority on qualified and non-qualified plans, fiduciary issues, deferred compensation, and welfare benefit arrangements, with experience in plan design and drafting, compliance, tax planning, and consultation on all aspects of ERISA and the Internal Revenue Code. Ms. Wagner also serves as an expert witness in ERISA litigation. Ms. Wagner has recently been appointed to the Board of Directors for the American Benefits Council, as well as a Member to the Board of Governors of the American College of Employee Benefits Counsel. Ms. Wagner has written hundreds of articles and 27 books. She is a highly sought after lecturer, is widely quoted in financial journals and has been a guest on Fox, CNN, Bloomberg, and NBC.

In this episode, Eric and Marcia Wagner discuss:

• Committing to continually enhancing services
• Best practices that benefit professionals must follow
• Adopting investment policy statements and other governance documents
• Doing things with integrity and excellence

Key Takeaways:

• Providers must continually enhance services to meet evolving industry standards, legal requirements, and client expectations. 
• Benefit professionals should follow best practices, such as documenting processes, monitoring fees, evaluating service providers through RFPs and benchmarking, and thoroughly documenting meeting minutes to demonstrate prudent fiduciary processes.
• Investment policy statements, although not legally mandated, are considered fiduciary best practices for retirement plans and should be treated as plan documents if adopted.
• Believe in the industry's support for the middle class and social stability, maintaining humanity, generosity, flexibility, enthusiasm, pursuing excellence and integrity, and embracing the notion that everything will work out in the end.

“Remember your humanity, and don't let the bastards get you down because you will encounter people who are good. Have a generous heart and just be as flexible as you can be. Be open to things that are new. Be enthusiastic. Try to do what you do with excellence and integrity.” - Marcia Wagner

Connect with Marcia Wagner:

Website: https://www.wagnerlawgroup.com/attorney/wagner-marcia-s/ 

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

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 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.

In this episode of Friday Fiduciary Five, Eric Dyson talks about the importance of investment policy statements (IPS) for target date funds (TDFs). He emphasizes the need for well-crafted IPS sections specifically for TDFs, cautioning against over-reliance on custom benchmarks that often fail to provide meaningful comparisons. Eric likens TDF evaluation to a fruit salad, underscoring the complexity of assessing multiple funds with varying glide paths and strategies. He advocates for conducting a glide path determination to align the TDF's risk level with plan demographics and participant needs, whether conservative or aggressive.

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 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.

In 1989, entrepreneur and sales professional David White began using payroll deductions through his successful companies, The Corporate Shoe and Corporate Warehouse Club. He operated seven employee stores at major companies like Texas Instruments, Lockheed Martin, and Frito-Lay and sponsored sales at Fortune 500 companies nationwide. In 2002, he applied this model to onsite sale events at over 40 major hospitals in the southern U.S., making them top fundraising activities. His extensive experience in retail and payroll purchasing has given him deep insight into buying preferences and trends.

With letters of recommendation from nearly every key account he has ever managed, David’s work ethic and genuine interest in satisfying the customer have translated into long-term relationships.

Raechel Peters is the President of BenefitsMe, a company focused on enhancing financial wellness in employee benefits through its Employee Purchasing Assistance Program. A strategic leader, Raechel has been instrumental in shaping the company’s strategy, driving growth, and delivering exceptional experiences for both clients and users. With a strong background in leadership, marketing, operations, and strategic planning, she is dedicated to advancing innovation in the employee purchasing space and expanding access to financial wellness solutions.

In this episode, Eric, David White, and Raechel Peters discuss:

• Financial Stress is Widespread
• BenefitsMe Offers a No-Interest Solution for Necessary Household Purchase Items
• Easy Implementation and Low Risk
• Versatile Benefit Across Income Levels
• Financial Wellness and Financial Literacy Program Included

Key Takeaways:

• 67% of Americans are worried about the cost of living, 77% live paycheck to paycheck, and 97% of employees spend time worrying about personal finances at work.
• The program allows employees to purchase essential items (like appliances, electronics, and travel) through payroll deduction with 3-12 month terms and zero interest, helping them avoid high-interest debt.
• The program requires minimal effort to set up (4-6 hours), comes with a free financial wellness module, and the company assumes the risk if an employee terminates before paying off their purchase.
• The program is beneficial for employees across all income brackets, not just low-wage workers, as personal financial challenges can affect anyone regardless of salary.

“One thing that really ensures that it's going to be a successful launch and a successful partnership is communication with the program sponsor and our team.” - Raechel Peters

Connect with David White & Raechel Peters:

Website: https://benefitsme.com/ 

Email: [email protected], [email protected] 

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 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.

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: [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.