PLANADVISER - March/April 2022 - 21

" We don't see our site and app as competing
with recordkeepers. We see ourselves as
integrating with the recordkeepers and going
beyond the basics of what they do. "
ongoing advice offering that includes fiduciary counsel and
services such as managing a custom portfolio.
CAPTRUST started its CAPTRUST Advice website for its
retirement plan clients' participants in 2016 and revamped
it in 2020. " We've offered a participant [fiduciary] advice
program for many years, and, as we grew, we wanted to
help participants engage more with what CAPTRUST can
offer them, " says Greg Delage, the firm's director of advice
and wellness, in Raleigh, North Carolina.
" The website is mostly just to get folks engaged, and
to help them understand the importance of the financial
matters they don't understand now, " Delage explains. The
website offers education, while CAPTRUST's advisers help
participants with individualized plans and give fiduciary
advice, he says. " We want them to use the information on
the site, but the No. 1 call to action is that we really want
to talk to them. "
The site is not meant to be a full do-it-yourself
experience, and every page has a place to click to schedule
an appointment with a staff member from the participant
advice team. " Our main tool for our financial wellness
program we let participants use only with a financial
adviser, " Delage adds. That tool helps them put together a
customized financial plan.
Currently, Intellicents Inc., in Albert Lea, Minnesota,
is rolling out to clients its new financial wellness app for
individuals, Lifesteps, as part of its continued expansion
into financial planning and wealth management. Asked why
Intellicents focuses so much on individual-level services,
co-founder and CEO Brad Arends says, " The American
worker just plain needs the help and needs it badly, and it
needs to go further than just retirement. "
Technology plays a key role initially in Intellicents' work
with participants. " We use our app's technology to deliver
a foundational financial plan to every employee at our plan
clients, " Arends says. The goal is for people to be interested
enough in that foundational plan to start engaging with
the financial planning program. From that point, a client's
employee would work with an Intellicents Certified
Financial Planner to develop a personalized financial plan.
The new app has tools for help with first steps, on topics
such as budgeting, debt control, emergency savings and
retirement readiness calculations.
Arends hopes the financial wellness program will lead
to improved retirement readiness, and to some participants
becoming wealth management clients. " The average plan
advisory firm has got to get into private wealth, " he says. " If
you're still just focusing on 'funds, fees and fiduciary,' you're
going to be at a huge competitive disadvantage, because
you'll be competing against national firms that can do both
retirement plan work and wealth management work. "
SageView Advisory Group, headquartered in Newport
Beach, California, now has a website for its wealth
management business, and founder and Managing Principal
Randall Long sees a clear synergy between serving retirement
plans and wealth management clients. " Working with so
many participants has led us down the road to expand our
services into the wealth space in the past several years, "
he says. " It's a natural evolution for us to expand in this
area, because people need help with comprehensive wealth
management. "
The wealth management side of SageView now has
clients with approximately $4 billion in assets, compared
with $175 billion in assets in the retirement plans that
SageView has as clients. Asked if he could ever see the
wealth management and retirement sides becoming an
equal percentage of SageView's business, Long says, " In
terms of assets, clearly the institutional retirement side
will always be larger than the wealth management side.
But in terms of revenues, I can see them becoming equal. "
A wider breadth of services can be offered on the wealth
management side, he adds: For example, an executive
participating in a retirement plan and also utilizing
SageView's wealth management services could get wealth
management advice on how to execute her stock options
and how to best utilize nonqualified plan benefits.
SageView intends for the digital resources to be paired
with the services of a SageView adviser. " We'll definitely
continue to use technology, and increase our investment in
technology, because it helps us connect with people, " Long
says. " But once we connect with people, then our advisers
will work with them to develop a personalized strategy. I
think you need both: You need a high-touch interface, and
you need technology. So much of this advisory business is
about building trust and confidence with people. A computer
can't do that: You still need that personalized touch. "
Competitive Positioning
Recordkeepers have their own financial wellness digital
resources for individual participants, and some also would
like to ultimately add them as wealth management clients.
" We don't see our site and app as competing with
recordkeepers, " says Hammond, when asked how he
differentiates Pensionmark's offering. " We see ourselves as
planadviser.com March-April 2022 | 21
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PLANADVISER - March/April 2022

Table of Contents for the Digital Edition of PLANADVISER - March/April 2022

A Digital Divide
Staying Power
The Prospects of Staying Virtual
Another Retention Tool
Is It Time to Let Go?
The Evolving Use of RFPs
Best Interest Reasons For a Rollover
Guaranteed Lifetime Income
PLANADVISER - March/April 2022 - C1
PLANADVISER - March/April 2022 - FC1
PLANADVISER - March/April 2022 - FC2
PLANADVISER - March/April 2022 - C2
PLANADVISER - March/April 2022 - 1
PLANADVISER - March/April 2022 - 2
PLANADVISER - March/April 2022 - 3
PLANADVISER - March/April 2022 - 4
PLANADVISER - March/April 2022 - 5
PLANADVISER - March/April 2022 - 6
PLANADVISER - March/April 2022 - 7
PLANADVISER - March/April 2022 - 8
PLANADVISER - March/April 2022 - 9
PLANADVISER - March/April 2022 - 10
PLANADVISER - March/April 2022 - 11
PLANADVISER - March/April 2022 - 12
PLANADVISER - March/April 2022 - 13
PLANADVISER - March/April 2022 - 14
PLANADVISER - March/April 2022 - 15
PLANADVISER - March/April 2022 - 16
PLANADVISER - March/April 2022 - 17
PLANADVISER - March/April 2022 - A Digital Divide
PLANADVISER - March/April 2022 - 19
PLANADVISER - March/April 2022 - 20
PLANADVISER - March/April 2022 - 21
PLANADVISER - March/April 2022 - 22
PLANADVISER - March/April 2022 - 23
PLANADVISER - March/April 2022 - Staying Power
PLANADVISER - March/April 2022 - 25
PLANADVISER - March/April 2022 - 26
PLANADVISER - March/April 2022 - 27
PLANADVISER - March/April 2022 - 28
PLANADVISER - March/April 2022 - 29
PLANADVISER - March/April 2022 - The Prospects of Staying Virtual
PLANADVISER - March/April 2022 - 31
PLANADVISER - March/April 2022 - Another Retention Tool
PLANADVISER - March/April 2022 - 33
PLANADVISER - March/April 2022 - Is It Time to Let Go?
PLANADVISER - March/April 2022 - 35
PLANADVISER - March/April 2022 - The Evolving Use of RFPs
PLANADVISER - March/April 2022 - 37
PLANADVISER - March/April 2022 - 38
PLANADVISER - March/April 2022 - Best Interest Reasons For a Rollover
PLANADVISER - March/April 2022 - Guaranteed Lifetime Income
PLANADVISER - March/April 2022 - C3
PLANADVISER - March/April 2022 - C4
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https://www.planadviserdigital.com/planadviser/july_august_2018
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https://www.planadviserdigital.com/planadviser/september_october_2017
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