In today’s episode of Carson Group and PIMCO‘s Retirement Income Series, Bonnie Treichel talks about what she does to help people be empowered with the financial knowledge to save.
Bonnie is the founder and Chief Solutions Officer of Endeavor Retirement, where she counsels retirement plan advisors on governance and how to run compliant retirement plans. Bonnie merges her experience as an Employee Retirement Income Security Act (ERISA) attorney and as a retirement plan advisor working with startups and multibillion-dollar companies to provide her Endeavor clients with a practical approach to compliance.
In today’s episode, Bonnie speaks with Jamie Hopkins, Managing Partner of Wealth Solutions at Carson Group, and Devin Ekberg, Senior Consultant and Education Advisor with PIMCO, about the need for more education on the most efficient way to spend retirement savings, changes to retirement planning brought about by the SECURE Act, what she does to help clients feel empowered and more.
Key Takeaways
- There’s been a lot of effort in Washington, in terms of legislation, to help make it easier for people to save for retirement, but there isn’t that same level of effort in helping people plan for decumulation – spending their savings efficiently in retirement. Financial advisors can help fill that void.
- Retirement investment portfolio providers need to offer more consistency in the way they communicate with clients.
- Financial advisors have the chance to educate retirement plan sponsors and participants and then assist in making recommendations about those plans.
Quote
“It’s this idea of, we want to be able to make very clear for advisors and for plan sponsors what their action steps should be … and when we have the (Department of Labor) saying one thing and a really large provider saying something else, it gets confusing, right? It’s the same way when we’re talking about retirement contributions. We’ve got so many different terms and language and terminology.” – Bonnie Treichel
Links
Carson Group is committed to advancing financial literacy. Schedule a consultation to learn how Carson can help you help your clients and grow your business. Visit PIMCO to learn more about the work it is doing in the retirement income planning space.
