PLANADVISER - March/April 2019 - 32

PLANSPONSOR
Retirement
Plan Adviser
Mega Team
of the Year
Bukaty Companies Financial Services
T
o improve participants' retirement
readiness, Bukaty Companies
Financial Services, in Overland
Park, Kansas, launched its own financial
wellness program last year.
" What makes our program unique
is not our interactive participant
advice platform, or even our automatic
investing option through a new cashback-on-spending
solution, " says Vince
Morris, founder of the Financial Services
team. " What makes our program
completely transformative and poised
to greatly affect participants' retirement
readiness is the proactive human
outreach from a licensed financial
mentor at our call center. By walking
the participant through simple conversations
and easy-to-achieve objectives,
we can really impact [his] ability to
improve a range of financial stressors-
such as debt, including student loan
debt-as well as counsel on asset allocation,
savings rate, tax optimization,
investments, etcetera. "
To make the help more widely accessible,
the call center has Spanish- and
English-speaking financial advisers.
Morris says this human element
" is key to helping more people become
financially secure and to producing
behavior modification. " It lets the team
go beyond education to monitor participant
progress and provide encouragement
as the program advances.
Bukaty wants to be a single-source
solution for clients, he says. To help
participants with their finances,
the
firm's cash-back program is tied in to
their credit card spending, with thousands
of merchants participating. As
participants charge purchases at these
merchants, a percentage of the total is
diverted back to their retirement plan.
management services due to the size
of their accounts. " But through our
program, they can benefit from the
same asset management and advice
given to wealthy individuals, " Morris
says. " There's a convergence in the
industry of retirement plan adviser
services and wealth management
This human element " is key to helping
more people become financially
secure and to producing behavior
modification. " It lets the team go
beyond education.
Recently,
to
it
introduced personalized
portfolios, which give participants
access
professional
investment
management via a 3(38) advice arrangement.
The portfolios are currently integrated
with three recordkeepers, and
more are in the pipeline. " Through this
offering, we can help provide advice on
savings rates, tax treatment, allocations,
actively managed Social Security
optimization and, ultimately, drawdown
strategies, " Morris says.
He notes that many of the personportfolio
participants
would
services. We believe everyone should
have financial freedom and be financially
successful at any income level. "
The participant-level services are at
the core of what Bukaty offers to plan
sponsor clients.
Each member of Bukaty's 30-person
tasked with performing a
team is
specific function in support of
the
alized
client experience and enjoys autonomy
in that role, Morris says. The diversity
and specialization of the team-which
includes retirement plan advisers,
wealth advisers,
client
relationship
have no access to professional wealth managers, employees focused on port32
| planadviser.com March-April 2019
Photography by James Rajotte
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PLANADVISER - March/April 2019

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