How to Connect With (and Convince) Company CFOs: 2017 NAPA 401(k) Summit in Las Vegas
In this insightful interview from the floor of the 401(k) Summit in Las Vegas, John Sullivan of 401k Specialist speaks with Hugh O’Toole, Head of Distribution at MassMutual Retirement Services, about a breakthrough strategy for engaging Chief Financial Officers (CFOs) in retirement planning.
O’Toole begins by explaining the challenge many advisors face: CFOs often disengage during presentations, checking email instead of paying attention. His solution? Personalization. He realized CFOs respond better when the data is specific to their company, especially regarding employee retirement readiness and the financial implications of delayed retirements.
His team developed an algorithm to collect company-specific data and simulate the financial impact of various retirement readiness strategies. This includes analyzing cost differentials between older and younger employees and projecting how improved retirement readiness can reduce costs tied to delayed employee separations. By modeling potential savings and tying them directly to the company’s balance sheet, advisors can demonstrate real financial value—turning what was once seen as a “necessary evil” into an opportunity for cost mitigation.
Hugh highlights a case study involving advisors Jamie and Russell who collaborated on a trucking company project in Pittsburgh. By combining healthcare cost management and retirement planning, they delivered long-term improvements not just to the company’s finances but also to driver safety—a crucial business concern. Their ability to break down silos and work across domains had a measurable impact.
Ultimately, O’Toole’s method empowers advisors to shift from procedural roles to strategic consultants helping employers save money and make informed, impactful benefits decisions.
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With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of 401(k) Specialist and Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots. Experienced financial services content executive specializing in creative new media delivery. He joined the American Retirement Association in 2023 as Chief Content Officer, overseeing communications for the organization, as well as its sister organizations.
