PLANADVISER - Summer 2023 - 21

Retirement Plan Adviser of the Year
Plan Participant Service
401k Plan Professionals
Edina, Minnesota
PLANADVISER: Tell us about your practice and how you
got into advising retirement plans.
Jessica Ballin: Our team is all women, with participant
education at the core of what we do. Each adviser started
in the retirement plan advisory business because of her
passion for helping plan participants. I started 401k Plan
Professionals in 2007 after spending time in a wirehouse
broker/dealer. Since day one, our team's emphasis has been
on a fully customized educational experience that's taught
exclusively by the advisers, not by a third-party provider. We
take time, learning about the plan sponsor, its industry and
staff while creating content that matches the employees'
learning styles and experience. Expanding financial literacy
for every participant is our goal.
PA: How is your team/process/structure unique? How has
it evolved? Where will you be in five years?
Ballin: Our team is personable, trustworthy, reliable and
proactive. We spend 100% of our time on corporate and
nonprofit retirement plans. We take a very active role with
our clients and provide them with white-glove service. Our
clients know we can be their first phone call with questions
or concerns, and we'll resolve any issues. Most importantly,
we have a passion for helping plan participants.
Our core values have stayed the same, but our services
continue to evolve. We collaborate and develop creative ways
to be of value to our clients through our monthly webinar
series, customized videos, quarterly fiduciary training and
our annual Fiduciary Summit. The advisers and staff have
regular team meetings to ensure that everyone on the
team has a pulse on what's happening with our clients. Our
approach allows any one of the advisers to be out, yet we
can still provide full backup and support for our clients. This
is how we achieve first-phone-call resolution. In five years,
we hope to add to our book of business while retaining our
Plan Participant Service Finalists
* Sean Bjork, Bjork Asset Management, Inc.,
Northbrook, Illinois
* Daniel Carlson, Farther Finance, Kiel, Wisconsin
* Global Institutional Advisory Solutions, Graystone
Consulting (Morgan Stanley), New York, New York
* Philip Sherman, Deschutes Investment Consulting,
Portland, Oregon
Jessica Ballin
client base. Participant education continues to evolve, and
we'll surely stay ahead of that in order to prioritize the
financial literacy of all American workers.
PA: As a retirement plan adviser, what do you take the
most pride in?
Ballin: Our team takes pride in helping participants wherever
they are in their journey. We have a saying at our office
that our clients are family. Our advisers are able to connect
with participants by being a trusted adviser and connecting
at their level. We build relationships with HR [human
resources], managers and rank-and-file employees. These
relationships grow as we get the opportunity to connect
in both group and one-on-one settings; that's how we can
really make a difference. As an adviser for more than 20
years helping some of the same participants, I've witnessed
them reaching financial milestones and achieving retirement
success.
PA: What challenges do you think the retirement plan
industry faces, and what role do you have in confronting
and addressing them?
Ballin: The industry as a whole has continued to expand its
technology and retirement readiness calculators, which is
wonderful; however, it seems the focus on asset management
and complex products is at an all-time high. We feel
that plan sponsors and participants don't need to be inundated
with complex explanations and extra fees. We address
this by spending time with the sponsor and participants,
whether it's an investment committee meeting or a lunch
to celebrate a small victory. We provide relevant industry
updates and " hot topics " at every meeting.
PA: What are the biggest challenges participants face today,
and how are you helping to address those challenges?
Ballin: The average working adult in the U.S. continues to
face complexities from our industry: from misinformation
from HR staff or family members, to confusing forms, to
long wait times in call centers, to inability to use the technology
offered. We bring a high-touch service model to every
client: Our goal is to empower participants to feel comfortable
enough to reach out and call our office. We notice many
plan participants feel they know nothing about the benefit
of saving, the stock market or even an investment such as a
mutual fund. We take pride in knowing we're offering lifelong
education to those who need it most.
Awards & Innovation | Summer 2023 | planadviser.com 21
http://www.planadviser.com
PLANADVISER - Summer 2023

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