PLANADVISER - March/April 2020 - 21

PLANADVISER: How has the evolution of technology
affected client relationship management in your
practice?
John Mott: Looking back, the thing that was big in technology
in 2005 was when Google introduced Google Earth with
mapping capabilities. That seems so plain and simple these
days. Our ability to touch more prospects, clients, participants
has increased dramatically due to technology.
A big differentiator over the last 15 years is that the firm
has a site from where we can pull everything for reports to
send to our clientele. It's a fantastic reporting system we
didn't have before that is completely technology driven. In
the past, we had to cobble things together on our own. It
was a little mish mash and didn't look all that professional.
Even though we tried to pretty things up, it was difficult.
Now the reporting system is driven and customized for the
corporate clients we have.
Steve Wilt: Technology has a lot to do with the scale we have
today. Back in 2005, when I was with Merrill Lynch, I jokingly
said that for every five plans I took on, I had to hire another
person for my team. I always had the feeling that each plan
was so heavy in its own right that you had to add more people
to the equation. We created all of our own quarterly reviews
out of PowerPoint. We input the number from performance
demographics into a presentation, and that was really heavy.
I moved to CAPTRUST, which has a centralized model, in
January 2009. CAPTRUST has about 50 offices, but all of the
research, reviews, vendor benchmarking and design is done
in our Raleigh headquarters and pushed out to us in the field.
It's all automated. The reviews show up, for instance. I proof
them. I approve them. And then we're good to go.
There are a small number of firms that are providing
these types of services for their advisers. At CAPTRUST, we're
all employees; we're shareholder-owned, and the vision that
our CEO Fielding Miller had over 20 years ago was to build a
centralized model to support advisers, and advisers would
come to the firm because of that. I think it's pretty unique in
the industry that we have all of these things built out the way
we do and that we continue to reinvest in our business and
build out more and more tools to benefit clients. This model
gives me tremendously more time to spend with our clients
and to have a bigger book. You can have more clients if you
aren't doing all of these tasks.
David Griffin: We're unique in that the firm works within a
cloud-based model. When I went out on my own and started
Atlanta Retirement Partners, I was able to hire employees
who were working in corporate America, for different retirement
plan providers, at a bit of a discount, just to give them
their life back. To allow them flexibility, to free them from
sitting in traffic every morning. I had this idea that if we
were being built to serve institutional customers-401(k),
403(b), 457 plans-we go to see all of our customers. They
never come to see us. Why have the expense of an office?
I thought: If I can hire the right people, and we can all work
remotely, it would be efficient and my employees would be
happier. In the face of this coronavirus, for instance, we're
perfectly suited for doing this type of business. It works very
well. If there's a downside to our model, it's that I can't hire
young people who need a lot of training or hand-holding
because we don't have a physical office we're reporting to
that lets us spend time face to face with each other. Instead,
I've hired people who are experienced, who I can trust, who
I know can work independently, who are self-starters.
PA: To what extent have digital tools and services redefined
the participant experience?
Griffin: Technology has truly enhanced the participant experience
over the past several years. The industry has moved
toward a " simplification " approach to allow employees easy
access to data. The providers have also striven to make apps
and websites easier to navigate. They've learned, through
research and behavior, that people typically are looking to
see their balance, the most recent trend of their account, and
whether they're on track. Consequently, these are the three
items that one sees quickly when landing on the page or app.
As I reflect on technology and its influence, one area of
concern is loans. The industry has made it almost too easy
to model a loan and subsequently have a loan issued. The old
days of an employee having to approach human resources
[HR] largely has fallen by the wayside. I think this has done
a disservice to plan participants. Loans shouldn't be allowed
in retirement plans. As advisers, we are all aware of that. So,
I think, moving forward, it should be something viewed as a
last resort and not as a second step to one's checking account.
2019 PLANSPONSOR Retirement Plan
Adviser Large Team of the Year
David Griffin, founder and director
institutional retirement plans, Atlanta
Retirement Partners/LPL Financial
For the last eight years, Griffin has run
a cloud-based firm offering his employees
great flexibility to work remotely.
2007 PLANSPONSOR Retirement Plan
Adviser Team of the Year
Steve Wilt, formerly senior vice president, financial
adviser, The STAR Group with Merrill Lynch
Wilt is now senior vice president, financial
adviser, at CAPTRUST. The firm, with about
50 offices, uses a centralized model based
out of its Raleigh headquarters.
2005 PLANSPONSOR Retirement Plan
Adviser Individual Adviser of the Year
John Mott, executive director, institutional
consulting director, at Graystone Consulting,
a business of Morgan Stanley
In his 28 years with the company, Mott has
seen firsthand how technology has changed
the way advisers do business.
planadviser.com March-April 2020 | 21
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PLANADVISER - March/April 2020

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