David J. Witz is a nationally recognized fiduciary governance expert with more than 44 years of experience in retirement plan consulting, ERISA compliance, and fintech solutions. He is the CEO and founder of Fiduciary Risk Assessment LLC, CEO of PlanTools, LLC, and co-founder and COO of Catapult HQ, Inc., where he leads executive management, product design, SaaS development, and fiduciary consulting. Over his career, he has served as an expert witness in major ERISA litigation, advised national financial institutions, authored and presented extensively on fiduciary risk and governance, and helped shape industry best practices through technology, education, and thought leadership.

In this episode, Eric and David discuss:

• Using scorecards to filter, not decide
• Preferring consistency over hero-to-zero performance
• Making fiduciary decisions visible and defensible
• Risk must be understood, not assumed

Key Takeaways:

• IPS scorecards narrow the universe, but they don’t tell you which “10 out of 10” is actually better. “Consistently Good Occasionally Great”  (CGOG)  steps in as an alternate but compatible filter to evaluate pattern, persistence, and risk consistency. Selection becomes intentional, not defaulting to the lowest cost or the best recent return.
• CGOG favors “singles and doubles” over volatile home runs and strikeouts. Rolling-period analysis reveals whether excess returns are repeatable or masked by boom-and-bust cycles. The goal is to minimize large losses and avoid unpleasant fiduciary surprises.
• Clear visuals and documented processes allow committees to understand risk and return without deep technical expertise. IPS, monitoring reports, and CGOG together create a repeatable decision framework. If challenged, the process—not hindsight—becomes the defense.
• Rolling data and deeper analysis reveal behavior that point-in-time returns can hide. Looking beyond recent performance leads to more intentional portfolio construction.

“Your scorecard is great at whittling down, filtering the universe into a smaller group where you can go deeper, but utilizing the scorecard as a baseline for selecting your funds is not a good idea. It does not give you the ability to look under the hood and determine why one 10 is a better 10 than another 10.” - David Witz

Connect with David Witz:

Website: www.plantools.com 

LinkedIn: https://www.linkedin.com/in/david-witz/ 

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.