In this episode, host Bill Kelly welcomes Aaron Filbeck of the CAIA Association for a wide-ranging discussion on the growing momentum behind expanding access to private market investments within retirement plans. They explore the implications of a recent executive order focused on 401(k) access, the structural differences between DB and DC plans, and the potential benefits and risks of democratizing private market exposure. The conversation probes the importance of fiduciary responsibility, the role of innovation in target date funds, and the evolving narrative around long-term investing and investor protection.