Defining Success by Sharon Pivirotto
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This presentation was from a very interactive workshop that was presented for American Century Fund's Retirement Roadshow Series. (for 401k advisors)
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Defining Success by Sharon Pivirotto
- 1. DEFINING SUCCESS A division of fi360, Inc. Copyright 2013 – Present FSS, a division of fi360, Inc.
- 2. fi360 promotes a culture of investment fiduciary responsibility through education, technology, knowledge, support, and thought leadership to improve fiduciary decision-making. fi360 Overview and Mission
- 3. • Co-Founder, Managing Director, FSS • 17 years of financial industry experience • Formerly licensed as an insurance and investment professional • Ran successful investment office in Pittsburgh for 6+ years • Served 4 years active duty Army • Active in Rotary, Chamber of Commerce and other civic organizations Sharon Pivirotto, AIFA®, PPC™
- 4. Sharon Pivirotto "Information is overrated, and information without implementation is useless.“ - Danny Iny
- 5. Activity - Reflection Defining A Successful 401(k) Practice
- 6. Let’s Go!
- 7. Marriage Isn’t For You… Defining A Successful 401(k) Practice
- 8. Defining A Successful 401(k) Practice
- 9. Year End Planning Worksheet Defining A Successful 401(k) Practice Three ways to increase your opportunity for success: 1. Set goals 2. Include participant wins 3. Articulate the BENEFIT
- 10. “You make a living by what you get; you make a life by what you give.” Defining A Successful 401(k) Practice
- 11. Activity – Describe your most successful plan… Defining Plan Success
- 12. Defining Plan Success ERISA INDUSTRY BEST PRACTICES 6 KEY ISSUES
- 13. Six Key Issues 1. Defining Plan Success 2. Understanding Fiduciary Responsibilities 3. Prudent Investment Selection & Monitoring 4. Provider Due Diligence Documented 5. Effective Participant Communications 6. Plan Administration Compliance
- 14. Demonstrating Prudence Checklist Defining Plan Success Three ways to use this checklist: 1. Checklist of services offered 2. Identify gaps when prospecting 3. Enhance your process
- 15. “If you do what you've always done, you'll get what you've always gotten.” – Tony Robbins Defining Plan Success
- 16. Activity – Describe your service process… Defining a Successful Service Model
- 17. Defining a Successful Service Model
- 18. Defining a Successful Service Model Fiduciary Responsibilities Provider Review Participant Education Annual Review Investments Q1 Q2 Q4 Q3
- 19. Defining a Successful Service Model Activities List Excel Calendar Timeline Jan Enrollment Mtng Committee Mtng Feb Participant Statements IPS Review Mar Newsletter Benchmarking Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1 2 2 3 3 4 4 4 4 5 5 5 5 6 6 6 6 6 6 6 6 6 6 6 6 7 7 First Quarter Second Quarter Third Quarter Fourth Quarter
- 20. Success Calendar Worksheet Defining a Successful Service Model Three reasons to develop a success calendar: 1. Define and Scale your Service Model 2. Articulate your Process 3. Define your Value