Whack the bell and wind the clock, it’s time to decide which upstart advisor will take the belt in the inaugural “Advisor Brawl,” a showcase of top professionals and the ideas and energy that fuel their success.
From the geniuses (spit-take) at Plan Design Consultants—creators of the innovative and uproarious Retireholi(k)s YouTube videos—the competition is engaging, informative and fun, terms that, surprisingly, are far from mutually exclusive in the retirement plan space.
It’s all part of what Plan Design CEO JD Carlson calls a “new breed of 401k advisor,” one less John Houseman and mahogany desks and more authenticity and enthusiasm to better connect with working participants.
Whether it’s free tacos from brightly-colored 401k-themed food trucks to “taco-bout” retirement or simple notions of pennies-on-the-dollar savings strategies, this new advisor breed is reaching younger employees to encourage higher deferral rates with an eye towards the all-important positive participant outcome.
Attend any 401k-specific conference recently and you’ve seen or heard (smelled?) Carlson and crew.
Camped out in a corner of the exhibit hall floor, the retirement plan experts cue the cameras to discuss the seemingly disparate topics of craft beer and worksite benefits in a relaxed and amusing atmosphere that includes notable (and occasionally wary) guests.
“Sometimes beer gives you the best ideas,” Carlson notes with a laugh.
But make no mistake, the adolescent hijinks and locker-room banter in no way displace the quality of the information and due seriousness of the topic at hand—namely, how to ensure an affordable quality of life in retirement for the sponsors and participants whom they serve.
And it was at one such event recently that the idea for the current head-to-head took shape.
Two Retireholi(k)s guests at the top of their game, Alliant Retirement Consulting’s Aaron Pottichen and AFS 401(k) Retirement Services’ Alex Assaley, appeared in quick succession.
Their similarities in age, assets and energy didn’t go unnoticed, sparking a friendly (sorta) rivalry immediately identified and exploited by the Plan design posse.
Why not pit the two against each other and have the public vote?
Which is exactly what they did, boosting views and spreading important information in the process.
“Every decision we make in our firm, the basis and point of focus is the employee,” Assaley says. “The way we think about plan design, strategic planning, fiduciary oversight or investment menu architecture starts with the employee. How do we create and deliver services across the spectrum that improve employees’ lives?”
“If you’re an individual advisor working one-on-one with people, you get to make an impact,” Pottichen adds. “But if you’re an advisor working on 401k plans, you get to have a much bigger impact on a lot more people. And there are a [heck] of a lot of plans out there that need saving.”
As for the more whimsical, Retireholi(k)s helpfully provides a ‘tale of the tape’:
- Alex “Sneakerhead” Assaley is age 35, 5’10, 168 lbs. with 69 plans and 1.7 billion in AUM.
- Aaron “A-A-Ron” Pottichen is age 39, 5’9 ½ , 185 lbs. with 46 plans and $400 million in AUM.
“In Aaron’s episode of Retireholi(k)s, he was clearly not prepared for the ‘word of the episode,’” Carlson says, referring to the particular term that provokes a Pavlovian response to drink each time it’s uttered. “It was ‘advisor’ and he messed up several times in the beginning (maybe the worst word of the episode beginning ever for a guest).”
“Alex is part of a band called Deer Medallion, referenced in his episode at minute 43:07, and there is lots of fun Deer Medallion stuff on the Internet if you keep digging,” he adds.
Assaley and Pottichen have slandered each other on social media with proverbial trash-talk, and following their back and forth is equally as entertaining as the shows themselves.
And, of course, there’s the requisite “belt” on the line, one custom made for beaucoup bucks in the classic heavyweight boxing genre.
As of January 5, the regular vote total is Assaley’s (435) to Pottichen’s (414).
However, YouTube likes are worth an additional 25 votes, so the actual vote total is Pottichen at 1,339 to Assaley’s 1,110.
“So, with only a few days remaining (voting ends at midnight on Thursday, January 10) the brawl is still neck and neck,” Carlson concludes. “The Retireholi(k)s will announce the winner on Friday, January 11.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of 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.
