The 20 Rising Stars of Retirement Plan Advisory 2008

ing in the investment world without having to deal with the individual emotions and anxieties the go along with the wealth management business. “For me, it’s a much better fit – 401(k) plans versus individual wealth management,” he underscored. Going forward, advisors that market and sell their people and expertise are the ones that will be successful in the 401(k) space, squeezing out brokers who simply sell products,Prevost predicted.“There will be fewer participants in this space, and they’ll also look more like us,” he said. choice and success,” he said. “Per my father’s guidance and mentoring, I focused on a specialization in retirement planning rather than taking a broad approach.” Reed began his career as a registered representative with IDS Financial Services in 1989. In the 15 years between then and his joining The Bostonian Group, he has held positions at Great West Life & Annuity Insurance, MetLife Resources, Trust Consultants, MFS Retirement Services and Diversified Investment Advisors.“In 10 years, I hope to grow and move to the next level, which would be managing director of an investment advisory retirement practice,” he said. Looking forward, Reed believes the industry will evolve, with the focus shifting to ‘decumulation’ of account balances throughout retirement. “Basically, we need to work toward ensuring that we do not outlive our savings,” he said. As a result, he predicted that the process of investing through defined contribution plans will become increasingly automated via such features as auto enrollment, auto increase of deferrals and auto investment in asset-allocation funds. 15 . ANDREW PREVOST ing employees about the benefits of saving in a 401(k) plan. It was no easy task, especially since the 9,000-member union already offered a defined benefit plan, he noted. In the end, however, he was successful and today the plan has some $12 million in assets. “Although I don’t get paid on it anymore, I’m still proud of it,” he said. Prevost began his career as a financial planner at J.P Atkinson & Associates, . where he worked from 1994 to 1997, before moving to Washington Financial Group from 1997 until late 2001. At the beginning of 2002, he joined The Meltzer Group after approaching founder Alan Meltzer about launching a retirement plan division. Starting with just $50 million and a long list of existing insurance division clients, Prevost has grown the division to 10 employees and some $1.5 billion in assets. The Meltzer Group targets plans in the Northeast and mid-Atlantic states with assets in the $5 million to $100 million range.“We play in the space that brokers think they can play in,” said Prevost, who is primarily in charge of sales and marketing for the division. While Prevost enjoyed the thrill of the sale when he landed the HERE, Local 25, account, he realized he also loved workSEPTEMBER 2008 16. RICK REED Managing Consultant, Retirement Plan Services The Bostonian Group, Boston Age: 44 Education: University of Massachusetts, Boston (M.B.A. in Marketing); University of Texas (B.B.A. in Finance) Mentors: Bob Clark, Managing Director, The Bostonian Group; Jon Geller, Former Managing Director, The Bostonian Group; Alan Reed, Retired Executive Vice President, MetLife Resources Reed joined The Bostonian Group in 2004 and is primarily responsible for overseeing existing client relationships. He also manages the retirement consulting team – comprised of 10 individuals – and looks for new business in the mid-market space. Together, he and his team service more than 100 clients with all types of qualified retirement plans and provide fiduciary oversight to more than $2 billion in plan assets. Reed grew up in a family of financial services professionals, including his father who worked in a number of senior-level positions and specialized in the 403(b) market before retiring.“My father was in the financial services industry and was very influential in my career 17. JOEL SHAPIRO Senior Plan Consultant/ERISA Plan Consultant 401(k) Advisors, Alisa Viejo, Calif. Age: 39 Education: Georgetown University Law Center (L.L.M.); Washington College of Law, The American University (J.D.); Tufts University (B.A. in Political Science) Mentors: Vince Giovinazzo, Chief Executive Officer, 401(k) Advisors; Jacques Laufer, Legal Consultant, Hewitt Associates; Cynthia Shupe, Director, Fennemore Craig, P.C. Shapiro serves dual roles at 401(k) Advisors, acting as senior plan consultant to an elite block of business with RETIREMENT PLAN ADVISORY RISING STARS 31

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The 20 Rising Stars of Retirement Plan Advisory 2008 Contents Doing Well By Doing Good The Post-PPA Bounce Automatic Enrollment vs. Managed Account Unfair Advantage? You Bet The New World Order 20 Rising Stars of Retirement Plan Advisory Mentors’ Page

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