Chepenik Financial Services is nearing its 50th anniversary, and one reason—indeed, a MAJOR reason—for its success is due to the enthusiasm and creativity of Jason Chepenik, the firm’s managing partner and well-known industry veteran advisor.
“I am a creative soul versus a stock picker,” Chepenik, who has mastered incorporating unique hooks to get companies and their employees enrolled in 401k plans, said. “My firm’s approach is critically important to what we do. Not only does it support employee engagement, but it’s fun and makes my team happy, as well.”
Examples of his ideas include Taco-bout Retirement Food Truck, in which he partnered with a local food truck, wrapped it in a colorful design and is taking it on the road to multiple employer client locations.
“If you have signed up for the company 401k plan, you get a free taco,” he explained.
If you didn’t, you only get rice and beans. Because without retirement savings, he says wryly, you will be “livin’ la vida broke-a.”
Another is the 4.01k Race for Financial Fitness. Traditionally held on April 1 each year and begun at 4:01 pm with a 4.01-kilometer course, the dates and times vary since it occurs in multiple cities (13 in 2019) due to particular weather and logistical issues.
Proceeds, of course, go to charity—with Junior Achievement Chepenik’s pick—and the race has featured Jean Chatzky, financial editor of NBC’s TODAY show and host of the HerMoney podcast, as its celebrity spokesperson and “coach.”
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He spoke with Ross Marino, CEO of Advisor2X, for the latest episode of the OUTCOMES Podcast, and Marino began by asking why his creativity, new ideas and his constant engagement with plan sponsors in this manner is so important.
“It’s part of my responsibility,” Chepnik answered matter-of-factly. “If you think about the day in the life of a plan sponsor, if they’re tasked with sitting on the retirement committee, it’s one little iota of their day job. They really run whatever part of that business—HR, finance, operations—and they are so busy between quarterly meetings and taking care of the rest of that person’s business, that they aren’t thinking about ideas like that. That’s what they hired me to do.”
How did the practice grow from a one-man shop to one of the top firms in our industry? What are the “three Be’s” Chepenik’s focuses on to continue to grow his practice? What are the two “Fs” that he thinks are missing from the traditional 3-F advisory firm service model? What’s his latest creative idea to engage employees?
He answers these questions and more.
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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.