Fred Reish Joins Prime Capital Retirement
Renowned ERISA attorney Fred Reish, longtime partner at top 50 law firm Faegre Drinker in its benefits, executive compensation and investment management groups, is moving to Prime Capital Retirement, where he will serve as the director of fiduciary and ERISA practice, the company announced today.
“Having a titan like Fred join us is one of the most impactful additions the RIA retirement space has ever seen,” said Scott Colangelo, chairman of Prime Capital Financial. “On a personal level, it is the greatest honor of my career to work alongside someone who has been my most influential mentor.”
“Having a titan like Fred join us is one of the most impactful additions the RIA retirement space has ever seen.”
Prime Capital Financial Chairman Scott Colangelo
Reish will guide Prime Capital Retirement’s fully integrated approach to plan-sponsor support, combining fiduciary oversight, plan design guidance, and participant-level financial wellness under one coordinated platform.
“Fred’s decision to align with our organization is one of the strongest validations for what we are building,” said Jania Stout, president of Prime Capital Retirement and Wellness. “I am personally honored that Fred chose to join us. His qualifications and experience will be extraordinary assets for our clients and advisors, giving them direct access to one of the most respected minds in our industry.”
Reish has spent his career advising plan sponsors, financial institutions and fiduciaries on some of the most complex issues in the retirement plan landscape. Widely regarded for his deep technical knowledge, Reish brings a rare level of experience in fiduciary standards, prohibited transactions, plan design and retirement income strategies to Prime Capital Retirement, as well as his extensive experience representing clients before federal regulatory agencies.
“We are beyond excited to welcome someone of Fred Reish’s caliber and industry-shaping impact to our organization,” said Glenn Spencer, chief executive officer of Overland Park, Kan.-based Prime Capital Financial. “He will play a key strategic role in guiding our growth and will bring tremendous value to our clients, helping them solve challenges and consider innovative new solutions. His arrival strengthens our position as a leader in fiduciary excellence, and we couldn’t be more thrilled to have him on our team.”
Today’s move a long time coming
Reish said joining Prime Capital Retirement “feels like a natural next step in my career, largely because of the deep relationships I’ve had with many members of this team for so many years.”
He added he has long admired their integrity, commitment to clients, and leadership within the retirement plan industry.
“The opportunity to work closely with Jania Stout and Scott Colangelo is meaningful to me, and I’m excited about what we’ll accomplish together. It’s a real opportunity for me to formalize a partnership with people I trust and respect, and I look forward to contributing to the important work ahead as we help plan sponsors, advisors and participants navigate an evolving retirement landscape.”
Asked how the big move came about, Reish told 401(k) Specialist it’s been a long time coming.
“In a sense, this started decades ago. I was speaking at a conference and a young advisor comes up to ask a question after the speech. We continued our conversation in the hallway when the next program started,” Reish recalled. “That was the beginning of a personal and professional relationship with Scott. We shared common values and particularly an interest in seeing working Americans achieve a financially secure retirement.”
Over the years Reish represented Colangelo’s firm as a lawyer, but said he also had ongoing conversations about someday doing something together.
“Part way through this year, 2025, I decided that it was time to retire from my law firm and the full-time practice of law. I mentioned that to Scott and he offered me a job at Prime,” Reish said. “I explained that my passion was to support the fiduciary standard, both legally and ethically, and that I wanted to achieve that through education… meetings with advisors and plan sponsors, written materials, blogs, and on and on. My goal is to support Scott and Jania in their efforts to deliver high quality products and services to plans and participants.”
Focus on teaching
“I have been part of the 401(k) world since its beginning. I have seen it grow and thrive. While I have participated partially as a lawyer, I have participated with even more joy as an observer and teacher.”
Fred Reish
Reish told 401(k) Specialist he wants to continue to play his role as a teacher and spokesperson for the industry, and is delighted Prime Capital has given him this opportunity.
“I have been part of the 401(k) world since its beginning. I have seen it grow and thrive. While I have participated partially as a lawyer, I have participated with even more joy as an observer and teacher,” Reish said.
Asked about his day-to-day focus in his new role, he said it will be on supporting Prime, its advisors and its plan sponsors in their mission to help participants achieve retirement success.
“I plan to do that through education and help with the development of programs and services that go beyond what ERISA requires,” Reish said. “But of course to do that, you have to know what ERISA requires of plan sponsors and advisors. That is the foundation.”
Key issues in 2026
It’s no secret that ERISA attorneys have plenty to keep an eye on in today’s litigious environment. Reish said the “money issues” for litigation will continue to be fees and costs.
“That means that plan services and investments must be helpful to participants and must be reasonably priced. In that context, I expect that target date funds will be a target (pardon the pun) because that’s where the money is,” he added.
“From a regulatory perspective, I believe that most of the action will be about so-called ‘alternative assets’ and particularly the use of private funds in target date funds, balanced funds and managed accounts. We should start seeing guidance from the DOL in the first two months of the year,” Reish said.
“Interestingly, from an industry perspective, a great deal of attention will be placed on artificial intelligence and how it can be used by plan sponsors (and to a degree, by advisors and recordkeepers) to enhance value and reduce costs. To the extent that there will be DOL regulation or fiduciary litigation, though, it will be in the future.”
SEE ALSO:
• Prime Time: Jania Stout and Scott Colangelo
• Jania Stout Makes Move to Prime Capital Retirement
• Reish Highlights ‘Remarkable’ Government Incentives in SECURE 2.0
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.