SPARK Forum 2018


Sunday, November 4, 2018

8:00 am Golf Tournament

1:00 – 6:00 pm Exhibitor Setup

1:00 – 6:00 pm Conference Registration –

6:00 – 8:00 pm Welcome Reception with Exhibitors –

8:00 – 10:00 pm After Hours Networking –

Monday, November 5, 2018

7:00 am – 5:00 pm Conference Registration –

7:00 – 8:00 am Continental Breakfast with Exhibitors –

8:00 – 8:10 am Welcome & Opening Remarks

Tim Rouse, Executive Director, SPARK Institute

8:10 – 9:00 am Behavioral Governance: How Neuroscience is Being Used to Improve Fiduciary and Retirement Outcomes

Peter Preovolos, President & CEO, PenChecks (moderator)
Don Trone, Founder & CEO, 3ethos

Behavioral Governance is a new body of research that examines the interrelationships between leadership, stewardship and governance. Studies suggest that Behavioral Governance is the primary factor in determining the quality of retirement outcomes. It is the follow-on to Behavioral Finance, except now the focus is on the behavior of the plan’s fiduciaries instead of the participants. In conjunction with this presentation, conference attendees will be given the opportunity to take an online self-assessment of their Behavioral Governance. Each attendee completing the psychometric instrument will be provided a personalized 30-page report at the conference.

Don Trone Presents Leadership Award to Steven Forss, Amundi Pioneer

9:00 – 9:50 am BREAKOUT SESSIONS

SESSION A – The Next Generation QDIA – Are American Workers More Than Just Their Age?

Matt Brown, Vice President, Personalized Retirement Outcomes, Fisher Investments
Scott Matheson, Managing Director, Defined Contribution Practice Leader, CAPTRUST
John McGlynn, Managing Director, Consultant Relations & Business Development, Charles Schwab
Brett Shofner, President, Work Place Retire

With over half of participants investing in Qualified Default Investment Alternations (QDIA), should this high impact decision extend beyond selecting amongst target-date funds? This panel will be discussing the recent evolution of the QDIA that finally makes personalized default options a reality. Topics covered will include pros and cons of target date funds and traditional managed accounts, the degree to which current age-only allocations could be missing the mark, and how new solutions can aid advisors and their clients in understanding what personalization would look like across the entire participant base and what additional benefits it may provide. Our question to you, with personalized options now available, what is stopping plans from offering a better-suited option for each individual retirement circumstance?

SESSION B – MEP Plans: The likely Next Disruptor – Anticipated Stakeholder Impacts

Bob Bernstein, Co-Founder, Senior Managing Director, Envestnet Retirement Solutions (moderator)
Fred Barstein, CEO, TRAU
Kelly Michel, Chief Marketing Officer, Envestnet Retirement Solutions

A forward looking discussion on how the marketplace will evolve with the Open MEP/PEPs. This discussion will not be focused on the legislation per se, but the Stakeholder’s reaction to it.

  • Complexity and pitfalls/fail safes of the Recordkeeping and Administration of MEPs
  • Plan Sponsor’s vantage point – why or why not join and the value of laying off the risk of plan management for the Plan Sponsor
  • Evolution of Advisor and Enterprise (RIA, BD, Aggregators and Specialist) behavior and its impact on the Recordkeeper and TPA markets and importance and essential impact of Technology to advance efficiency and expand Coverage

9:50 – 10:20 am Break with Exhibitors –

10:20 – 11:10 am BREAKOUT SESSIONS

SESSION A – Blind to the Blind Spot – Women & Retirement

Christina Stauffer, Head of DCIO Business Development, Thornburg Investment Management (moderator)
Cindy Hounsell, President, Women’s Institute for a Secure Retirement
Phyllis Klein, Senior Director, CAPTRUST Financial Advisors

In recent years, there has been increasing focus on retirement savings shortfall and the need to use auto-features to help workers save and invest for their retirement. When the industry addresses accumulation, decummulation and outcome sufficiency issues, they are typically viewed as gender neutral. This panel will address the average savings and investment lifecycle of 51% of our workers – women. There are lots of opportunities for firms and advisors to assist this population by first understanding their challenges and makeup. The panel will discuss real life experiences by researchers, advocates and advisors to illustrate how the industry can better serve the entire working population more specifically. Your participation is most encouraged.

SESSION B – Evolving Advice

Jessica Sclafani, Director, Retirement Practice, Cerulli Associates
Scott Smith, Director, Advice Relationships, Cerulli Associates

This session will focus on the evolution of advice delivery in the retirement market, first through the perspective of a 401(k) plan participant and then through eyes of a retail investor entering the IRA market. The widespread adoption of target-date funds and growing adoption of managed accounts have combined with an emphasis on financial wellness to raise the bar for in-plan advice options. Likewise, the growth of digital tools and platforms is resulting in an ongoing transformation of the retail advice market. Cerulli Research Directors, Jessica Sclafani and Scott Smith, will address best practices for addressing the opportunities created for providers in these market segments.

SESSION C – Paying Student Loans through a 401(k) Plan

Jon Graff, SVP, Participant Services Director, Wells Fargo Institutional Retirement and Trust (moderator)
Mike Hadley, Partner, Davis & Harman LLP
Meera Oliva, Chief Marketing Officer, Gradifi

Plan sponsors are trying to entice their younger employees to save in the 401(k) plan, but many millennials have too much debt. This session examines ways to help payoff that debt and still begin to save.

11:10 – 11:30 am SPARK Advisor Award Winners Announced

Tim Rouse, Executive Director, SPARK Institute

11:30 – 12:20 pm ERISA Litigation Against Plan Service Providers

Joan McDonagh, Senior Director, Legislative & Regulatory Affairs, Empower Retirement (moderator)
Mike Hadley, Partner, Davis & Harman LLP
Melissa Hill, Partner, Morgan Lewis & Bockius LLP
Mark Nielson, Principal, Groom Law Group LLP

What began as a flurry of lawsuits against large plan sponsors has expanded to include claims against record keepers, product providers, and other service providers to defined contribution plans. A panel of legal experts who have been active in defending these lawsuits will address trends, results, key risk areas, and best practices to mitigate risk.

12:20 – 1:10 pmLunch

1:10 – 2:00 pm American Century Investments’ 6th Annual Survey of Retirement Savers

Kevin Eknaian, VP and Northeast Divisional Manager, American Century Investments (moderator)
Diane Gallagher, Vice President, American Century Investments

We continue to find that investors of all ages rely heavily on their employers for planning and saving for retirement. The findings further punctuate the biggest savings challenge workers face is the ability to do it well enough and early enough at a time when they are juggling other financial obligations. While nine in 10 people say “saving for retirement” is one of their most important financial obligations, that same number also expresses regret in not doing a better job in doing so. Learn how individuals’ insights into their personal retirement expectations and perspectives, how they view employer-sponsored retirement benefits and the role of employers and, most importantly, considerations for plan sponsors and their consultants in making decisions.

2:00 – 2:30 am Break with Exhibitors –

2:30 – 3:20 pm BREAKOUT SESSIONS

SESSION A – Decumulation − The Final, Critical Frontier

Dan Basile, Head of Defined Contribution Product Management, BlackRock (moderator)
Philip Chao, Principal & CIO, Chao & Company, Ltd.
Jamie Greenleaf, Partner/Principal, Cafaro Greenleaf
Nick Nefouse, Managing Director, Head of DC Investment and Product, BlackRock

The establishment of auto features and use of behavioral economics provides a roadmap for 401(k) participants to build enough assets for a successful retirement. However, as a growing number of participants shift from their working years to retirement, they face the central question of “How can I create lasting income in retirement?” Join us as we explore why decumulation is the next frontier for retirement and discuss how we can use the lessons learned from the past decade to offer providers, plan sponsors and participants with solutions that offer simplicity.

SESSION B – Insights from Plan Sponsor Experience – Alignment and Growth

Gary Lineberry, Managing Director, Retirement Education Solutions, LIMRA LOMA Secure Retirement Institute (moderator)
Peter Starr, President and CEO, Chatham Partners

What are the key ingredients for increasing client loyalty and satisfaction? Good client service is critical to attracting new and retaining existing clients, but what is “good client service” and how is it achieved?

SESSION C – Accelerating Service Delivery Transformation: Culture, Methodologies and Tools

Stephanie Bendrick, Vice President, Customer Experience, Empower Retirement
Dominick Cipolla, Vice President & Head of Operations, T. Rowe Price Retirement Plan Services
Kevin Kilcarr, Senior Managing Director, Retirement Services, Enterprise Iron Financial Industry Solutions
Peter Lohri, Partner, Enterprise Iron Financial Industry Solutions
Mark Minukas, Partner, Co-Creation Partners

Examine the drivers of Service Delivery Transformation (getting ahead of or staying on par with the competition). Identify key industry themes in transformation (delivering outcomes for plan sponsors and participants − rapid delivery of more and better services, with lower costs and higher satisfaction). Discuss the culture of transformation (“don’t forget the people”). Identify the shift to Lean for Business Processes and Agile for Technology Development Compare and contrast the methodologies and how they support transformation efforts. Innovative tools and platforms that be used as an engine and accelerator of transformation (innovation centers, cloud services, no/low code business-driven tools, etc.)

3:20 – 4:10 pm BREAKOUT SESSIONS

SESSION A – Decumulation − Winning Strategies for a Successful Advisor RFP

Philip Chao, Principal & CIO, Chao & Company, Ltd.
Veronica Bray, Retirement Plan Consultant, RPAS
Todd Levy, CIO, Ingham Retirement Group
Matt Vanaman, VP, External Advisor Consultant, PIMCO

As the industry turns its attention increasingly towards plan advisors from fee to service, it is often confusing as to what plan sponsors are looking for. A discussion with a search consultant, an independent TPA and a DCIO asset manager to learn their perspectives. These panelists come in contact with advisors and plan sponsors every day and have seen many advisor RFPs and RFIs process. They will share their nuggets of reality with the audience and what they think will differentiate advisors.

SESSION B – H.S.A. And Defined Contribution Platform Integration

Greg Fowler, Vice President, Partner Services, HealthEquity (moderator)
Doug Fisher, Director of Retirement Policy, American Retirement Association
Ryan Tiernan, Senior National Accounts Manager, American Funds

As Health Savings Accounts (HSAs) are adopted as part of a High Deductible Health Plan (HDHP) they are becoming another investment aspect of retirement planning. This session will provide an overview of the how the integration of the Defined Contribution Plan and the HSA is causing a paradigm shift in the retirement plan industry. A legislative overview will be covered as there is a stronger movement to increase the HSA contribution limits and how these changes could impact the retirement industry.

SESSION C – FS-ISAC Enables a New Way to Share Consumer Information

Anne Dubon, Associate, FSISAC

Financial Data Exchange (FDX) – Financial institutions, fintech firms and industry groups created the Financial Data Exchange (FDX), a non-profit organization to unify the financial sector around the secure exchange of financial data. FDX will address common challenges around the way industry shares consumer account information to enhance security, innovation and consumer controls. FDX is a subsidiary of the Financial Services Information Sharing and Analysis Center (FS-ISAC).

4:10 – 5:00 pm Plan Sponsor Panel – Discussion on Top-of-Mind Issues

Snezana Zlatar, SVP, Full Service Solutions Product & Business Mgmt, Prudential Retirement (moderator)
Rodney Alvarez, VP, Talent Management, Celtra, Inc.
Steven Barley, COO & Deputy Director, Indiana Public Retirement System
David Morrell, Director of University Benefits, State University of New York

An open dialogue with leading plan sponsors.

5:00 – 7:00 pm Reception with Exhibitors –

Tuesday, November 6, 2018

7:00 – 8:00 am Continental Breakfast with Exhibitors –

8:00 – 8:10 am Opening Remarks

Rich Linton, Chairman, SPARK Institute and EVP Operations, Empower Retirement

8:10 – 9:00 am Exploring Blockchain Technology for Financial Services and Retirement Plans

Nick Doyle, Senior Director, Product Management, SS&C/DST (moderator)
Bart Cant, Partner – Blockchain Services, IBM
Emily Chien, Advanced Analytics and Cognitive AI Leader, IBM

Blockchain is unlocking extraordinary opportunities for financial services to create new value, reduce risk, simplify offerings, customer experience, contracts, and verify identity. It can help reduce friction in existing business processes across ecosystems that include group benefits providers, insurers, intermediaries, customers, participants, regulators and other organizations. The opportunities are out there, but discovering Blockchain’s potential and figuring out how to fit it into your business strategy can be a daunting task. Learn best practices and latest perspectives from IBM, one of the foremost leaders in global Blockchain deployment.

9:10 – 10:00 am BREAKOUT SESSIONS

SESSION A – In the (K)now: Industry Trends Driving Innovation

Mary Beth Glotzbach, VP, Institutional DCIO, Franklin Templeton Investments (moderator)
Rob Barnett, Administrative Vice President, Wilmington Trust
David Levine, Principal, Groom Law Group, Chartered
Kevin Murphy, SVP, Head of DC Strategic Accounts, Franklin Templeton Investments

M-E-P. C-I-T. H-S-A. Is the alphabet soup in the retirement industry getting worse, or are we finally seeing innovation? Hear from an expert panel that will discuss leading industry trends from Health Savings Accounts (HSAs) to Collective Investment Trusts (CITs), Retirement Income and the potential for Multiple Employer Plans (MEPs) to make their prime-time debut. This session will help expand your knowledge of these topics and provide some actionable ideas to take back to the office.

SESSION B – Missing Participants – Direction is regulatory focused! – DOL today … Where DOL might go.

Sheryl Craun, Senior Managing Director, Head of Individual and Institutional Operations, TIAA
Adam McMahon, Associate, Davis & Harman LLP

SPARK’s Missing Participant Project sent its recommendations to the DoL on how to best process these accounts. This session looks at those recommendations and what will likely be done by the DoL.

10:00 – 10:30 pm Break with Exhibitors –

10:30 – 11:00 pm Break / Check Out

11:00 – 11:50 am The Future of Financial Wellness Tools

Michael Shafer, Director, Relationship Management, SS&C/DST (moderator)
Sean Collins, CEO & Founder, Cinch Financial
Alicia Hartjen, Head of Product Development, Financial Education & Communication Solutions, SS&C/DST
Kevin O’Fee, Financial Advisor, Edward Jones

No doubt you’ve heard the term financial wellness. It’s a concept that’s gaining traction among employers, providers, and advisors and for good reason. There’s growing recognition that supporting a participant’s overall financial wellbeing can lead to greater participant loyalty and engagement and help them reach their long-term financial objectives, such as retiring on time. But today’s financial wellness programs run the gamut, raising the question – where’s the industry headed? Bringing their distinct backgrounds and perspectives, our panelists will delve into the current state of financial wellness programs and what the future holds for this emerging area.

11:30 – 12:20 pm Washington & Regulatory Update

Chris Gaston, Senior Policy Director, Davis & Harman LLP
Mike Hadley, Partner, Davis & Harman LLP

Davis & Harman LLP, The SPARK Institute’s outside counsel, will provide an up-to-the-minute update on activities in Congress including breaking retirement policy developments.