Grant Arends: Record Keepers vs. Advisors in 401(k)s | Retiroholics

[0:00] JD: Boat snack from Bootstrap Brewing. This is real beer. This is real beer. [0:04] Speaker B: I love me good hazy boat strap. [0:08] JD: Boat snack from Bootstrap. Sounds like some Cole would drink the best movie ever. [0:21] Mark: Hey, Mark. Made it [0:24] Chad: a minute hot. [0:26] Mark: Hello, Grant. [0:27] Justin: How are you? [0:28] JD: Good. How are you? [0:30] Justin: Just dandy. I have no idea what that means. Well, not a clue. [0:43] JD: I'm drinking from a Fiji fraternity glass of my sons, and they just got kicked off campus, so what could go wrong? Yeah. [0:49] Chad: Good for them. [0:50] JD: Gonna be good. [0:51] Justin: I feel like we need that story at some point. Yeah. [0:55] Mark: They were motivated by the movie [0:58] Chad: Proud father moment. Right. You know? [1:00] Justin: Yeah. [1:00] JD: Well, they got kicked out when he was out of there in an apartment. So he tells me. He told me he had nothing to do with it. [1:05] Chad: Yeah. Okay. [1:07] JD: Yeah. Give me Covid. Like today, so, you know, we'll see what happens. He's in trouble. [1:13] Justin: Son of the year. [1:14] Speaker B: Where's he at? [1:15] JD: In his room. I'm. I'm in my apartment in Kansas City spending three days here at our Kansas City office and with him, and we had two nights of fun out. And he wakes up this morning and tests positive for Covid. [1:27] Justin: Oh, dang. Yeah, give it two days. [1:30] JD: I'm a strong negative so far, so it's good. [1:34] Justin: Just keep drinking the booze. [1:35] Speaker B: It'll clear it right up. [1:36] JD: Yeah, it's gonna kill him. Vaxxed and double boosted, plus a good Hazy ipa. I'm good. Nothing's gonna go wrong. All right. [1:43] Grant Arends: I'm trying this beer that someone sent to the office. Jd. [1:47] Mark: I know. I'm saving that for beer of the episode I'm doing. [1:50] Grant Arends: I'm just doing it now. I'm getting out of the way. [1:52] Justin: You're in Foster City again? I could have hung out with you yesterday. [1:56] Grant Arends: It's called hi Alai. Like that game they play in Florida. [2:01] Chad: It's not. That's not how you say it. [2:02] Justin: It's Ji. Ali [2:08] JD: has to have cannabis in it. It has to. [2:10] Mark: You know, [2:13] Grant Arends: it's all right. But I have to give it five robes because it was free. [2:19] Chad: That. That, that. Yeah. [2:21] Justin: Oh, two got shown. [2:28] Grant Arends: Okay. [2:30] Chad: Yeah. Brandon. Brandon, it's really okay. You know, when you come into the Bay Area to. To let me know, as somebody who lives here who would love to say hello to you from time to time. [2:39] Mark: I. [2:40] Justin: Anybody else want to see Mark in that robe? It looks super shortcut, like his booty would be hanging out. [2:46] Chad: Come on, Mark. I need nothing down. I do need to have a. A what I'll call a Daisy Duke robe. That would be pretty cool. JD's so annoyed right now. Why does it look like this eye is messing? [3:00] JD: Nothing hotter than 40 plus retirement. Naked men retire in the retirement industry. [3:05] Chad: Yeah. [3:06] Justin: Yeah. [3:07] JD: Really something everyone wants to see. [3:10] Mark: All right, I'll remove the beer of the episode segment from my agenda. Let's get this show started. [3:18] Justin: Why does my pilot funny? [3:22] Chad: I'm so bad at this lighting stuff. Justin. [3:25] Speaker B: I don't think it does still just look smaller. [3:28] Chad: This side over here looks like it's I got punched. [3:31] Justin: But if. [3:36] Chad: I'm self conscious about this after JD's comment when I had a irritation in my eye, I think. I think Brandon's confused on what he's supposed to do right now. Sorry. Let me put on my robe. [3:48] Speaker B: Is that. [3:48] Justin: What's our intro? [3:50] Speaker G: Intro. [3:50] Mark: Already did it. [3:52] Grant Arends: I did it as Mark was coming in. [3:54] Justin: I didn't see no stinking intro you got. You guys were talking through the whole thing. [4:00] Mark: Another one. [4:01] Chad: Wow, this is bad. [4:05] Justin: There's no audio B. That's how we didn't know that's. [4:10] Chad: Yeah, this is. This is off to a great start. [4:16] JD: Like the robe is real. [4:18] Justin: JD's face. [4:20] Chad: The robe is real. [4:21] Justin: Yes, it really is. [4:23] Mark: I thought this was gonna be the hashtag best show ever. Welcome everybody. Apparently that was the intro. And no volume brands getting very artsy these days. Welcome everybody to Retireaholics. Welcome to the show. I was gonna say it's gonna be better than last week. I know that going to be last week's show is a pile of dog. We're off to a slow start. We have a lot of important stuff to talk about. No time for banter and small talk. So I'm just gonna let Silent Jay take it away. Justin, intro our guests and you out there in the audience, you're going to rank Justin and how he does on a 0 to 10. Take it away, Justin. [5:08] Speaker B: What are you going to say, Mark? [5:09] Chad: So we should really start every show like that. Stop all these extra introductions of us because everybody knows who the fuck we are and just give it to the guy we care about. Justin, let's go. [5:19] Speaker B: All right, well, we're going to change [5:20] Chad: it up a bit today. [5:21] Speaker B: Rather than listen to me make up lies about who our guest is, I want the audience to hear it straight from the horse's mouth. So Grant, what I want to do here is a quick rapid fire response. Whether it's the truth or completely made up bullshit, I don't care. Just say what comes to mind first. [5:35] Mark: Cool. [5:36] JD: Let's do this. [5:37] Speaker B: All right, we'll start you off Easy. Favorite color? [5:40] JD: Green Money. [5:42] Speaker B: Go to adult beverage. [5:45] JD: Hazy IPA or red wine. [5:47] Speaker B: All right, where are you from? [5:50] JD: Originally from Albertly, Minnesota. Lived in Kansas City for 20 years and now in my retirement home for life, Boulder, Colorado, drinking hazy IPAs. [5:59] Speaker G: Nice. [5:59] Speaker B: Got any kids? [6:01] JD: Three, including the young one that might have given me Covid. 26 year old accountant, 24 year old salesperson, both girls, and the youngest is a boy who's getting his master's in accounting next year. [6:13] Chad: That's sweet. [6:14] Speaker B: Which one's your favorite? [6:18] JD: My dogs. [6:20] Chad: Good answer. [6:21] Speaker B: Garden gnomes. Are they lame or are you game? [6:24] JD: I'm sorry, what? [6:25] Speaker B: Garden gnomes. Are they lame or are you game? [6:28] JD: I don't know what a garden gnome is. That sounds like the lamest thing ever. All right, moving on. My brother's gardener though, so he would disagree with that answer, I'm sure. [6:38] Speaker B: Okay, speaking of your brother, who wins in a fight, you or him? [6:42] JD: He's slightly older than I am, so I'm gonna go with me. Plus, I'm meaner. I've always been the bad one. [6:48] Justin: It seems that way. [6:49] JD: He'd fight, I'd fight dirty and he'd be upset, but that's what would happen. [6:54] Speaker B: Whose idea was it to add the fourth F word to the fees, funds and fiduciary? [6:58] JD: That's mine. I'm taking full credit for that. [7:00] Speaker B: Perfect. All right, and last one. You're marooned on an island with Chad, Mark and jd. Who would you murder, who would you eat and who would you crack a beer with? [7:10] JD: I didn't think. I didn't know where you're going with that. I got a little nervous there for a minute. [7:15] Mark: Murder. [7:16] JD: Eat. [7:16] Mark: Crack a beer. Murder. [7:18] JD: I don't know you guys very well, so I'm gonna murder the one I know the least. I know the bathrobe guy scares me so that he's gonna die. [7:26] Chad: What I tell you? What I tell you? They're always gonna kill me. [7:30] JD: Who would I. Who would I eat? [7:35] Justin: JD's got more meat. [7:36] JD: Yeah, JD's got a little more. [7:39] Justin: Dad, we're having a beer. [7:41] JD: Yeah, I mean, that's just about appreciate you. [7:44] Speaker B: Anyways, ladies and gentlemen, he's a heck of a better human than the rest of us. Instead of spending his time boozing it up, on most days he in buying lambos, he chooses to volunteer his time bringing water to communities in Africa for months at a time. The younger, younger and better looking co founder of Intellisense Grant here, it's. [8:09] Mark: I like what you're doing there. I like the attempt A little bit of change. You know, it doesn't matter what I think. It matters what you think. Go ahead, people. Let them know. 0 to 14. [8:17] Speaker B: Much better than last week. [8:18] Mark: It was a different. [8:19] Chad: Hey, hey, jd. [8:21] Justin: Jd, Your. [8:21] Chad: Your audio sucks and your visual sucks. Where are you now? What country are you on? [8:26] Mark: I'm in Orlando, Florida. [8:27] Chad: Yeah, you could always tell when you're not in your normal surroundings. [8:31] Mark: Thanks for letting me know. Keep me posted because I can still eat it. [8:34] JD: I'd still eat him. He sounds fun. [8:40] Mark: We're going to play some games. Grant, you already know the first game we're playing is called Acro Sin. I know this because you made a little comment on LinkedIn that I had already been penalized for using an acronym in LinkedIn. So you know how that works. If you say initialism or an acronym, you must drink from your penalty drink. Thankfully, Disney World has a good old Grey Goose, so I'm stocked and ready to go. We are also going to play Chat Bar Champion. He's got something there too. Good, good. We're also going to play Chat Bar Champion. No one's getting any food delivered tonight because apparently the chat bar last week was just as bad as the show itself. Yes, we were both dog, so nobody won anything, but hopefully we can turn that around. Tonight we hope to put on a better show for you and we hope that the chat bar puts on a better performance than last night and you win all the cash and prizes, which is really just code for like sushi or Mexican food or something being delivered to your place next week. With that, let's get. I was going to go to beer. The episode. Whoever sent that beer to the Office. That Brandon intro before the show. Muchas gracias para la cerveza. That was very nice of you to send us beer. Anytime anyone out there wants to send beer, please do. We'll take free beer. Let's get straight. [10:00] JD: We're hiring a Spanish call center so we you can apply. That was very good. We need that. [10:05] Justin: He needs another Lambo. [10:07] Mark: If these shows keep going this way, I might need a new job. [10:11] Justin: Less here in my garage. [10:13] Speaker B: Just bought this new Lamborghini here. [10:16] Justin: This guy is such a tool. [10:19] Mark: Let's go to headlines, Brandon. Headlines. In the first headline of the day, one America looks to be trying a little bit of a different approach. When I first saw this article on 401K Specialist Magazine titled Plan Advisor Portal launched to expand view of total participant access assets. Sorry. From One America, I thought. Yes, Cool. Wow. A record keeper is working on Some new way to not compete with the Advisor, but open up more information and more data to the Advisor. This sounds very, very interesting to me. As I dug a little deeper, slowly the air came out of my balloon a little bit and I realized it wasn't everything that I'd hoped and prayed it to be, but nonetheless an approach at something different. They have partnered with Pro Invest who Grant and I have self admitted have never really heard of before, but apparently they're a managed account service that has been in partnership with with one America for some time, some 17 plus years. Here's the. Here's the negative. If you are a this portal that would allow an advisor to see assets that a participant has outside of the 401k plan, which you can all agree would be a pretty cool, valuable step in the right direction. The portable is available to advisors who are active with Pro Invest on specific plans and if the plan sponsor has selected Pro Invest to be a managed account provider for the plan. So I was like, wa. Okay, like maybe. Sounds like a very small pool. [12:14] JD: Yes. [12:14] Mark: Job. [12:15] Justin: I just want to make sure I'm understanding what you're saying. If they select Pro Invest as the manage account and if the participant loads in their data, then the data might be available for the, for the. The rpa. Damn. To see. Is that what I'm hearing? [12:31] Mark: You hit it right on the head. [12:32] JD: Okay. [12:33] Mark: All those things must be true. Pro Invest does say, which I don't, I don't know where they get these stats, but they say like one in three of them. The participants that engage with their managed account share outside assets, which I thought, really? That's a higher number than I would have thought. [12:47] Justin: That's good. [12:48] Mark: I'm not the only one, Grant, who's never heard of Pro Invest, but you have a better relationship with One America than I do. And they have other managed account options too. You were telling me earlier. [12:57] JD: Yeah, I'm on their advisory board. So I guess I'm a really shitty advisory board member that I didn't know about this till you sent me that article. But yeah, I've never heard of Pro Invest. So I went to their website and it was. And they said they're a managed account provider. I think it might be. I think I'm totally guessing a participant could engage with them even without the plan. So perhaps the participant, there was a managed comp provider in Kansas City, for example, where the participant would engage directly for a fee. They'd give the username, their username and password with whatever record keeper they used and Then it would screen scrape that and they'd give them advice. Maybe this is something like that as well. But they do have a plan Sponsored portal. I thought their website was kind of funny. They said if you're an advisor and you have a plan with $50 million in assets with 50 participants, meaning the average account balance is 1 million, think of the wealth management opportunities that you would get. Literally that's on the website. I thought that was a hoot. That's when you. [13:50] Mark: That's when you hire your intern to write copies. [13:54] JD: I want that plan. I'm gonna get off this webcast early and go get it because that. Anybody for me? [14:00] Mark: Go ahead, John. [14:01] Justin: Anybody catch what Hooker's writing or Hawker? Actually it's Guy Hawker writing in the chat bar that the employee is forced to not put in the data, which is what I thought you were getting at. Meaning like the asset values of their outside accounts, but actually put in the login credentials to pull in. That's how info which I get Bloom [14:21] Speaker B: back in the day. [14:22] Justin: Yeah, well, yeah, and I'm comfortable with that. [14:24] JD: That's the Kansas City one. Bloom. Same thing. [14:26] Justin: The participant which by the way is an acronym I believe we determined back in the day, but isn't inputting that information is something I expect when I'm signing on for some sort of financial planning software, but just a straight managed account service. Is that what they are? And they still want all of this information to create a portfolio for me. [14:46] JD: I mean we intellisense we have a strong relationship with Morningstar's managed account. We've white labeled it called Bionica. It fits our little people plus technology logo. Plus as a huge Steve Majors fan, Leo. So with $6 million man. And the Morningstar beauty of that is it does look at outside assets to garner the advice. So they will screen scrape outside assets to give that person the advice plus significant other partner assets. So I think that's appropriate. [15:15] Mark: And Chad, to your point, like with Bloom and I get Timothy Yee in the chat bar, you definitely first have kind of the willies around cybersecurity. But I think there's tack involved with that stuff these days. Like I think it can be done in a pretty safe manner. What struck me was more the reality of like oh no, if you're a record keeper and you want to give advisors information on outside assets, you know there's hoops you need to jump through and you need to get certain sign offs from plan sponsors and from the participant which is obvious but it just shows all the potential roadblocks that are in front of you as you try to do this. But I want to move on to the second headline. But I do want to give kudos to One America for trying something and I hopefully this may inspire other industry companies, people out there to think about how they might be able to approach something like this because definitely think the solution is us working together. We're going to talk about a lot of this today, so let's move on to another that's, that's somewhat relevant. Fred Barnstein, that, that lovely man keeps rattling some cages, man. I'm going to, I'm going to say hats off to Fred. He if you're not tuning into his stuff, you should. He's not afraid to say what he thinks is true. He's not afraid to ask tough questions of people. We're going to hear him interviewing this, the CEO of Empower and sometimes everybody this gets Fred in trouble and what I like is he takes his lickings, it comes back and he just keeps going at it and bringing the truth. And so kudos to you, Fred. Hats off. His article is kind of fun. You guys can read it while I'm pulling up here, but they'll see it before me. Reckoning between 400k record keepers and advisors will start with broker dealers. The battle, the war will start with broker dealers. Let me read his second paragraph for y'. All. Like the battle between homesteaders and cattle ranchers over land and access to water. You should understand that. Kate Clark Advisors want to protect the participants in their plans and most record keepers want free range. The participants are the land, the data is the water. Chad, who are the record keepers and who are the advisors in this situation? Do you know? [18:02] Justin: I couldn't hear you there. J.D. what'd you say? [18:04] Mark: Who are the advisors and who are the record keepers in this Yellowstone analogy we're creating? [18:11] Justin: Well, you're ranchers and farmers. Going back to what I said earlier, are you asking for specific company names? Because we know who's brought on the private wealth side into the record keeping business and trying to go after the participant side. [18:26] Mark: We'll talk about that more today. So Empower doesn't need to be a secret, but I just think I like the analogy he used and let me break you through why and I'll get your opinions why he thinks broker dealers start first. In his article he mentions that and I would have said this if you would have asked me where the war starts. I would have said it would have been the aggregators. I would have said watch out. You know the big one digitals, the cap trusts, et cetera, et cetera. They're the ones that are going to start pushing their power on the record keepers and telling them to stop. You know, they're going to pull Ed from empower off to the side and say, don't mess with our participants. We want to monetize our own participants. Stay out of our our field or stop sipping on our water. If that's the analogy, I don't know. [19:11] Speaker B: Did your thought change after you read his point though, on that? [19:16] Mark: Let's give his point then, Justin. Fred says no, J.D. the aggregators are too busy aggregating and they're too busy acquiring companies. And then they're too busy integrating those companies into their own business model. No, it will be the broker dealers, the large broker dealers and the wirehouses, as Fred puts it. That, and the reason why he believes this is true is that they're still after rollovers in a big way. Like smaller rollovers are a big part of their business model and which I think is an. We don't talk about rollovers enough on this show. But they're a nice, simple example of a record keeper stepping in and providing a service that that advisor could provide. And so he believes it's those big broker dealers, the wirehousers, that will first step in and say, whoa, whoa, whoa, whoa. Get your hands off our participants. This is a source of revenue for us and we don't want you playing on our land anymore. Who do you agree with? Chad, we're out. Let me go to. Grant is the guest. Do you agree with me who thinks it'll be the aggregators or Fred who thinks it'll be the, the broker dealers in the wirehouses? [20:27] JD: I think that the aggregators are too strong of business partners with the record keepers that bring them a ton of business. I know, for example, there's like a hundred advisors that empower, that bring in power 20% of their business in core market, 50 million and under. I think a lot of those are coming from the aggregators more than what's coming from the broker dealers. I was at their Premier Advisor concert. I don't. Concert conference. I don't remember any of the BD people being there, but I remember all the aggregators and we being there. And so I think they're stronger partnerships. Did I really. What'd I say? [20:59] Justin: Broker, dealer, dealer. [21:01] Speaker G: Okay. [21:01] JD: For those that drink Jameson, you're laying. You got to drink red breast. Red breast Irish whiskey is the best. [21:07] Chad: Is that like a, it's like a knockoff version or is it just better? [21:10] JD: It's extremely better. [21:12] Chad: Oh, okay. [21:13] Mark: Well, let's, let's, let's start diving into this. And Grant, I think you've got some interesting perspectives on some of these kind of group discussions and conferences that you go to. You. I've heard from you here today that you've heard Ed Murphy at Empower answered these questions live on stage in front of an audience of advisors. So I might be interested in some of that. But before, let me see if I can set the stage for what we'll call topic number one. And topic number one is that this whole industry is looking at this convergence saying, yes, we've talked about it before, but that, and that it's a big deal and I want to try to prove the severity of this so we all pay close attention. Dick Darien and Brandon, I'm going to ask for audio clip number one here in a second, but let me introduce Dick Darien to everybody as a big head honcho at Wise Rhino Group, someone who's on the front lines of all things acquisition, counseling big companies in this space. We're going to play a small audio clip from him. And he was on rick Unser's podcast 401K Fridays, and he's talking about this convergence saying, brandon, can you play the clip? [22:24] Speaker G: Let me give you kind of a scenario. So we were engaged by Aqualine Capital Partners, a private equity firm that had owned Census and a few other properties in our space. And they were very interested in the retirement advisory space, Rex. So they engaged us, Wise Reiner Group. And the first thing we did was just kind of give them a primer on the vertical. And then at the same time, within six months, Sageview became available. And we advised Aqualine in the purchase of Sageview. The thing that I said to them that I remember clearly is, look, if you're looking at Sageview and looking at the retirement consulting box, you know, the 60 million in revenue or whatever it was, and that's what you're looking at. And that's it. Do not buy this business if you're looking at the 1 to 2 million participants underneath and you feel you can step in and help them engage those people. And I'll give you a sense of what that could look like to then buy the business [23:22] Mark: Grant. So Darian's always talking about acquisitions and the real value of a retirement plan advisor shop being less about the revenue generated from 401k and more about the opportunity of the revenue serve sources or monetizing participant. Let's take Being a record keeper and put that aside for a second. We'll tackle that later. But you agree with this concept, don't you, Grant? Like IntelliSense agrees with this. You think the best way for our industry to head is away from the foreign specialists and more to solving other things to, to make a. This is your quote, financial planning the next great employee benefit. So you and Darian agree, right? [24:12] JD: I totally agree. Right. You know, at IntelliSense, number one, the word financial wellness is wellness part is a dirty word. What is wellness? And everyone's talking about wellness. You know, financial wellness has been the most overused, underutilized tool on the planet. You look at the people that go to the record keepers to their wellness tools. You know, they brag that 10% engagement. How many of those 10% were utilizing something else already? I mean, the biggest issue participants have. Sorry to rant. The biggest issue that participants have right now is apathy and accountability. They're apathetic and no one's holding them accountable. So they expect people are going to go to these things and find the Lord and that's not what happens. And so at IntelliSense, what we're doing is we're institutionalizing financial planning. We think financial planning is the next great employee benefit. People are a mess with tomorrow's money because they're a mess with today's money. And so what we do is we push a financial plan to every single employee that signs up for our program. All we need is wage and date of birth. I can tell them what they should have for an emergency fund. I can tell them what they should have for debt, I can tell them what they should have for life insurance. I can tell them where they should be. As far as retirement savings. With those two data points, we call it a foundational financial plan. And from there we try to engage them in thinking about, oh shit, I don't have a budget, I don't have an emergency fund. You know, we keep. I tell my daughter who spends every penny she makes, she works harder than not. [25:50] Chad: She's not the accountant then, huh? [25:51] JD: No, she's the salesperson. She's like me. She's over spent. You know, you spend 50% of your money on essentials, you save 20%, you spend 30% on fun. And if you're spending more than 30% on fun, honey, you're having too much fun. And every participant needs to hear that as well. And delivering foundational financial planning and then engaging from that from there. But we try to get them started on just thinking about Finance 101. When are we going to start teaching finance to kids in school? 30 years ago, single semester that they gotta take finance classes to balance their checkbook. If they're not gonna do it, we have to do it. [26:31] Chad: In seventh grade, I learned how to balance a checkbook. That got me a long way. [26:36] Speaker B: What's the checkbook? [26:39] Justin: That's what I was gonna say, Jess. And the technology is moving much further past. But your point is heard, which is we need to teach younger generations some of what we all had as a required class growing up, which is the basic financial needs of running a life. My kids, how do you save? How do you balance? What do you. What can you spend? What do you earn? [26:58] JD: My kids are really smart and they don't know shit. [27:00] Chad: Yeah, so are mine. [27:02] JD: And so the average participants the same. We did a deal for a client. They just wanted to do basic financial planning. We call it Financial Planning for dummies. Financial Planning 101. It was a white collar workforce. I went in scared to death that I was going to be like calling them all stupid on the stuff I was trying to teach. Clueless as far as budgeting debt. I mean clueless. It was like stuff you teach to a fifth grader. And that's where people are at. And so we think, you know, we buy everything today institutionally on retirement plan. We buy cheap mutual funds. You know, money buys money on record keeping. And yet I gotta buy financial planning retail. And if we can provide institutional financial planning institutionally priced, why wouldn't an employer do that? [27:50] Mark: But questions later in the show around. [27:53] Chad: Why not just ask them now? What are you doing, man? This is the show. Ask the questions. [28:00] Mark: I had some questions to ask Grant later in the show, but he just answered them all on his own. [28:04] Grant Arends: Good. [28:05] Mark: Tell us. [28:06] JD: Can I have another beer then? I'm kind of tired. That was a lot. [28:11] Justin: Jackpot. [28:12] JD: You missed it. [28:13] Mark: That says you have, you have a 401k account. What I was trying to do. And you, you did it. And. And then at the same time explained a lot about intellisense, how you guys approach it. But confirming for me that this concept of convergence is a big deal. Many of us have seen your brother running around with the PowerPoint on monetizing the participant and all the different areas. And no. And it was great to see under the hood like that and kind of see the method, not the methodology, like the, the strategy, the planning of, of generating revenue off participants in these plants. So you're confirming that. But you said to me, and maybe we can go A little deeper on this. You said to me that there's not a battle between record keepers and advisors. And I was like, what, what does he, what does he mean? And you said no, there's not a battle is because the record keepers suck at this stuff. And it's what you were just ranting about. You're saying that they're not able to actually move the needle. And then you gave us a lot of quick fire reasons why you guys are trying to do a better job of it. Let me dive into like Empower and Ed Murphy and Fidelity and some of these companies. I mean Ed Murphy clearly believes. CEO Damn it. Of Empower really believes that, that they're in the best position to offer these types of planning services to participants. And Chad and Mark, Justin, you can chime in too. Where do we think that they would get it wrong and an advisor would, would get it right? [29:50] JD: Well, this is personal. Go ahead. [29:52] Justin: No, you're, you're, you're the guest. We want to hear from you. They hear from us. [29:56] JD: Very bipolar personal for. I mean I lost my largest client because a certain record keeper that I brought to the client promoted all of their participant services at the expense of mine. I was devalued. No longer that important. A new committee comes in which is the biggest risk for an advisor is new committee or merger and acquisition. And all of a sudden I get fired. And it was all because that record keeper, bottom line, were pimping their services versus mine. And I, you know, I won't say their name, they start with F and I'll just leave it at that. And so, you know, I was, I was, I was bitter about that. So I should be very angry about this. [30:36] Justin: But first take a big step back and literally fuck your own face. [30:42] JD: Exactly. [30:44] Mark: Let me put a pause on you and maybe feel your anger a little bit even though I know you're not, you're not anti in power. Brandon, maybe we can play audio clip 2, which is actually Ed Murphy, the Empower chief executive officer talking with Fred Barnstein on his 401k real chat and he's answering the question if advisors are the ones that want, what is this answer to? Is Empower stealing this business from advisors? Sorry, Mark. [31:19] Speaker H: When we did our due diligence personal capital, that was one of the things that we discovered was this really compelling, very sophisticated engine. And we effectively are deploying that now in our current defined contribution environment. Right. So we're using that now to try to drive engagement higher. And the other thing, Fred, I would just say is in our conversations with plan sponsors, many of whom are very paternalistic, they want that level of engagement. Right. So that becomes a differentiator for us. If I can show them that we move the needle in a material way because we drive engagement at levels that haven't been experienced previously. Right. So it's a work in process for us. We're doing a lot of test and learning and experimentation and all that. I wouldn't say it's 100% refined, but we're really excited about what we think we can accomplish there. [32:14] Mark: I actually screwed, screwed those up. So I'm going to give you that team talking about their, their obviously their process and how they go about this kind of wellness financial planning stuff. But in another quote he said, and I'm, and I'm just paraphrasing here but that advisors aren't set up operationally to deal with large plans. Kind of to someone's point in the chat bar earlier is that they don't want the small accounts. Advisors cannot do the job. They don't have the money, the investment power, the technology to do the job. Only the big shops like Empower can do the job. And so they should think more about partnering with the big shops and not trying to compete with them. I thought that would really fire you UP grant because IntelliSense is an example of a firm saying no, no, no, we're going to build out our own. And maybe you haven't. You've built it out with the help of technology. Right. You guys use E Money? [33:10] JD: I believe we were one of the few firms that helped we use E Money in our financial planning side. So if you want a full scope financial plan, Emoney is our financial planning software. Other people use MoneyGuide Pro, but it really, money is really frankly too sophisticated for a lot of engagements and it's for full financial planning. So E Money came out with a new program called Incentive. And Incentive is basically a institutional financial planning software that with gamification designed for the masses in the 401k world. And then we white labeled it to what we call Life steps. Life Steps taking your the next steps towards, you know, financial freedom and financial independence. And through this very simplified version of E Money that includes aggregation like we already talked about, that's you know, very gamification and step oriented. Let's get a budget, let's get an emergency fund. It's very, very compelling for the masses. In order for them to start taking more ownership in their financial health, we're trying to now build it to the next step or Perhaps it could be tied to their wellness programs. So if they like go to the next game, Maybe they get 30 wellness points and you know, all tied to their, all tied to that or all things that we're trying to build. And then if that employee feels so moved to take it to the next step, we could convert them to a full financial planning arrangement where we use the full breadth and services of the money technology. [34:34] Mark: You're proving my point is that you're showing the world that an Advisor company can create solutions for financial planning and all these other things and wellness and emergency savings and all this kind of stuff. I see some of the comments in the chat bar that are like, oh well and Power says they'll stay below 50k in terms of a participant in terms of using personal capital. If you look at the industry right now and the point I'm trying to prove, and I think intellisense sees this very clearly is and that's why I gave you the dictionary quote earlier. Everybody, all the venture capital backed money, all the private equity money, all these disruptors hitting the marketplace, Empower, Fidelity are all seeing that their real opportunity is to go after these participants with all kinds of services. And so whether they stay below 50k is, is fine. That's a little something there for me. But I'm guessing that Grant and Intellisense would like the clients under 50k as well. You want to provide all solutions to all participants in all of your plans and not allow Fidelity or Empower to do that role? [35:52] JD: Well, yeah. Shameless. Plug our what our mission is to overserve the underserved. And so we're there to work with anyone and everyone in our foundational financial planning program. LifeSteps accomplishes that. And whether or not it's just a foundational financial plan or whether or not they want a one time full financial plan, we've got the process to do that. And you know, I can just give. We can talk about Empower in a minute if you want because I'd be glad to do so. As far as what I learned at, at, at their concert at their premier Advisor conference. Probably not talk about, but I will anyway. You know, you know we the biggest business mistake we've ever made is waiting too effing long to get into wealth management slash financial planning. Case in point, our Kansas city branch of IntelliSense got into financial planning in 2015 through both organic growth, which is quintupled our sales and inorganic growth. Now other private wealth offices that see the opportunity we have more than tripled in size in five years. [37:04] Mark: There you go. [37:05] JD: There's a 80% of our new sales at IntelliSense is in the wealth management space and it's not like we're having [37:14] Mark: a million dollar deals with smart important people unlike you. That is one of the most impactful statements that we've had on here from a guest in a long time. That was a Chad Nuggets moment. [37:27] Justin: It's proof. [37:29] JD: You know I'm. You put me as president of the company, I got demoted by a 30 year old. I'm now just president of retirement. We now have a stupid 30 year old is now president of the company and Brad's CEO. I just run our retirement practice and it's not like our retirement practice is having a bad soup. What did I say? [37:46] Justin: Chief executive officer. [37:47] Chad: Executive officer. [37:48] Mark: You drink Chad, you speak. [37:50] Justin: No, I was just going to say like that. It's proof. Right. But there's been comments in there of who's actually doing this well and I think in our experience I would say the advisor community nor the record keeping community is bridging this gap. They're not serving the underserved as you all are trying to do. So when I Look at the IntelliSense is not on the vast majority of plans that are out there, right. Like you're growing but, but, but you're not on the vast majority. You're not the fidelity and you're not the empower at this point in terms of access. And those groups are failing at bridging this gap, this convergence that we've all been talking about, these record keepers have not solved it. So for everybody that's saying, well the smaller market doesn't have 401k focused advisors or they don't have people that want to service the underserved. Those are all true statements. But the truth is we continue to fail at this. And so if we're looking at good tech and I've seen what you all are doing, Grant, if we're looking at good tech and we can bridge this gap then everybody needs to be paying attention because this is and you just proved it with the stats, the future [38:56] Mark: fantastic. [38:57] JD: I run now our break even business. I hate to say that but the retirement business is going to be what's going to feed our private wealth. We don't even call it private wealth because the vast majority of our clients don't think they have any wealth. We call it personal financial management. I mean that's how we break. That's how we brand our private wealth business, personal financial management just to try to be less, you know, wealth management, you know, who only wants the big, you know, the giant accounts. We have a lot of competitors that only want the $500,000 account and up will gladly work with anybody. And that's how we get those big accounts. [39:33] Mark: Chad, I'm not trying to kiss ass to our guests, but I actually think that if you. If you analyze the intellisense approach, there seems to be a lot more to learn from there. As for the rest of the industry to stop failing, as you put it, where if you look at Fidelity and Power and some of these bigger companies, it's clear to me now what their strategy is, is to find these, like, life events. Like, you had a baby, you got married, you had a job promotion. They want to find these little events along your lifeline. And then they're going to hit you with notifications and information to get you to click and. And head down there. And I don't know if that's really the right direction. And I think if you dig deep into IntelliSense, it's more of a hardcore kind of like, let's grab the bull by the horns and get in there with all these clients and try to figure it out. Use tech. Yes. Pump quick financial plans to them to kind of spark their attention on certain things. Yes. That's like get in there on ground level and really sort through it all. Yeah. [40:36] Speaker B: Is that. [40:36] Justin: Is that right, Grant? Because my understanding and looking at a lot of what you all are doing, yes, there may be boots on the ground, but really it is about leveraging the data and making sure that the initial financial plan and. And the access to these resources is made available. [40:51] Mark: Yeah. [40:51] JD: I mean, our logo is. Our mantra is smart people supported by great technology. I think where people make a mistake is. I think it's the other way around. Technology. Now that we're not Terminator, we're not technology taking over people. We're. We're trying to be smart people. That's the left hand. I can't. I'm like a weatherman. The left hand side of our logo supported by great technology. The right hand, that's what we got. Our goofy brain logo, IntelliSense. And that's kind of our mantra, you [41:19] Chad: know, doesn't make sense to me. [41:21] JD: I'm sure you've been drinking, so. Oh, okay. [41:25] Chad: Yeah. [41:26] JD: You wearing a bathrobe, dude. So, you know. [41:29] Mark: Yeah, that's my stick, dude. [41:30] Speaker B: Yeah. [41:31] Chad: Like, you're like your logo. That's my thing. Okay. [41:34] JD: You know, I'm only wearing a hat because obviously my profile Pick is old. [41:37] Chad: It's not. [41:38] JD: What. What is that little something not pretty. [41:44] Chad: You look like something about marriage. [41:46] JD: The number one reason people are going to buy you. I don't care if you're selling shoes or 401ks or wealth management, they're going to buy you because they like you. That's the number. I mean, when I do sales training for our team, the number. Would they have a beer with you outside of you being a geek selling 401k plans? [42:02] Justin: Yeah, but you can't scale that. That's off. You can't scale that to these employees. [42:07] JD: This participant, if they're going to hire Empower, Fidelity or Schwab to manage their money, odds are they were never a good prospect for me. The prospect for me is that participant that wants the premium service because they're going to pay more for full wealth management services from me versus going to a Schwab branch. And they're obviously willing to pay a little more for that because they want that concierge service that they're not going to get from personal capital, they're not going to get from a Schwab branch and they're not going to get from. From a Fidelity. They're. They're what I call confirmers. They want to do it themselves, but they want that branch or that call center to confirm what they're doing. Advisors, you're going to get hired by the people that want you as a person. [42:55] Speaker G: And. [42:55] JD: And there's. And this is what's. Then I'll be quiet. This. I was at the empower conference. [42:59] Chad: Yeah, we know. We know, buddy. We know. [43:02] JD: The first thing they do is they hand all of us an envelope. And inside that envelope was an analysis of our book of business on money leaving our plans in 89 of the money that were leaving. Everybody's plans were not going to Empower and they were not going to intellisense or the advisor. Most of it was going to add Jones. And so their message was, there's enough to go around. These people need our help. [43:35] Mark: And there is like a sleight of hand. To me, that sounds like a very defensive stat to create. [43:40] JD: But you know what, what, what our friends. You know what our friends at Empower will do is they'll. They'll let us white label all our toys. Which other record keepers, like ones that start with F, won't let us do. They will let us fill out a new business form for every client that if we have a wealth management division. Every call that if a participant calls in and says, hey, I want to roll over my money. The first people they do is they refer them to us. Now, if the participant doesn't want to work with us, then they'll gladly take them. So they're far more friendly than the other, than their main competitor. [44:14] Mark: And so I don't want to paint empower to be the evil entity. Well, you can talk about more of that in the Offshore. And the after show, I'm gonna. I'm gonna follow Mark's guidelines. And hackler. Let's play a game. We'll do a two for one. Let's spin the wheel of ice, and then we'll play no bur dub. So spin the wheel. [44:33] Justin: Thanks, Mark. In the bag. Coming down. Good thing it's late there, [44:47] Chad: J.D. hold on, hold on. Do you not have. Do you not have one? Okay. All right. Spin it again. We did this last time. Spin it again. [44:58] Mark: Was that how we're doing it? [44:59] Justin: Yeah, he got froze. [45:04] Mark: Yeah. [45:04] Justin: He's got to do it next week. [45:06] Chad: Yeah, I think we already did that for somebody already. I think it might have been J.D. no. Do it again. [45:13] Justin: No, no, we're taking that. [45:14] Chad: All right, all right. [45:27] Justin: We're all going to drink. You go ahead and talk. Talk with our guests. [45:29] Chad: There you go. [45:31] Mark: Sorry, guys. I'm in Orlando. No. No smearing off at the Disney market. Let's play. We're gonna play a no for dope game. Grant. Brian will play a little graphic quickly. [45:43] Justin: Hold on. [45:44] Grant Arends: What am I supposed to do here? [45:45] Mark: Those are getting so bad. I think I'm gonna partner up with Josh. It's a Rick Unser. And get on their show. Grant's got no volume. [46:02] Chad: You owe one. [46:03] Justin: We got you hack. We got you hack. [46:04] Mark: All right, Grant, this is a totally no for dope game. [46:07] Chad: JD no. Don't you owe one. Please take it now. [46:11] Mark: Oh, I do. Okay, got it. [46:14] JD: You need to go on a roller coaster right after this. It'd be great. [46:19] Mark: I want straight down my throat. [46:21] Chad: Okay. [46:22] Mark: I'm gonna ask you a question, Grant. Or propose to you some situation, and you're gonna tell me whether it's dope as in thumbs up or nope. As you're not into it. Everyone tune in. Because today's got a fashion slant to it. Advisor fashion in love of his brother [46:39] Justin: because his brother's got some sweet fashion. [46:42] Mark: Are you? Nope. Or dope on suspenders. And I think Brandon's got a picture for me here. This guy here. Benders, dress shirt, tie. Is that a good look, Grant? [46:55] JD: Or not effing nope. [47:00] Mark: Chad, you're a Style connoisseur. Are you. Are you into this? Look. [47:03] Justin: Hey, I wore him at my wedding. And that was the last time. I'm a nope Mark. [47:12] Chad: No one should ever wear them. Ever. [47:14] Mark: Wow. I'm gonna give one last chance. All right, Silent J, what do you think about the suspenders? [47:20] Speaker B: Don't bundle me up in this family drama. [47:22] Justin: Jesus, man. [47:22] JD: I showed up at one of our offices yesterday in Kansas City, and one of the people had only seen me virtually said, it's the first time I've never seen you without a hat. So needless to say, we dress a little different. [47:33] Mark: Nope, nope. On the suspenders. Very handsome man. Not very handsome man. Let's do the next picture. Brandon, if you could. A weird, like, Jesus. Like. Like, over your dress shirt and tie. Like, I don't know whether you found that in a Civil War memorial or what that is, but that vest, that's a Goodwill. [47:55] Chad: Goodwill purchase right there. [47:59] JD: What are you asking me? We haven't over under. We haven't. I'm. He's gonna kill me later, but I could really care less than we have. We play over under. Not nope. Or dope. The over under is as Brad Aaron's wearing four layers or five. The over under is always four and a half. Generally goes over even on a summer day. [48:18] Mark: I like it. I like it. I can't wear four or five layers. It makes me look too fat. [48:22] Justin: Chad, I'm a. I'm a nope for sure on that. I'm afraid he's chopping up bodies and putting them in his basement. [48:28] Mark: And that mark, you could rock that vest. [48:31] Chad: Would you? Now, see, I'm just a nope on all these because I can't pull it off. But there are some people like, hey, if you. If you can, then, then great. But again, it's just not my thing. [48:40] JD: He's got it. [48:41] Mark: All right, we got another one. [48:42] Justin: He does have it. I'll give him that. With a lot of stuff up. [48:46] Chad: Why aren't you asking Justin any of these questions? [48:49] Mark: I did ask him last one. [48:51] Chad: Oh, okay, okay. [48:52] Speaker B: You haven't gotten to me yet. [48:53] Mark: Yes, Justin, how do you like vests? Let's go to the next picture. [49:01] Justin: What the. We got a man now. [49:05] Mark: We got a fucking jean jacket and some workman gloves. [49:11] Justin: He's got a scarf around his neck, doesn't he? [49:14] Mark: Casually, what does he have? [49:16] Justin: No, it looks like. [49:17] JD: I think it's flannel. [49:19] Justin: Oh, is it just the high flannel [49:20] Mark: casually leaning on a post? I mean, [49:27] Chad: he looks like. He looks like an influencer. [49:30] Mark: Tell Me what you think about this? This hunk of a stylish man right here. No, for dope. [49:39] JD: I like the gloves. So I guess I'll, you know, I'll give them. I gotta give him one Dope. So we'll give him. [49:46] Mark: Yeah, we'll give him a. I mean, [49:48] JD: we'll give him a dope. [49:48] Mark: But there's. [49:49] JD: At least. It's. But take the over on layers. Take the over on that one. [49:53] Mark: Tell me you wouldn't want to rock this look. [49:55] Justin: Oh, I'm. I'm a hundred percent dope on this one. I want to sport that jacket. [50:01] Mark: Thank you. That's a look, Justin. [50:03] Speaker B: Very John Dutton esque. I'm digging it. [50:07] Mark: Let's not ask Mark. Everybody who cares on Mark. [50:11] JD: John Dutton. Brad Ahrens. [50:14] Mark: Mark. Okay, Mark, this is your time. This is your time right here. We're going to go to another game since we've had such a. Such. Such action. That's the way the cookie crumbles. [50:31] Chad: You're so bad at your own game. [50:36] Mark: We're gonna keep playing games. Sort. This ain't a game. This ain't a game, people. This is about your money. It's about your investments. [50:43] Justin: Oh, yeah. [50:43] Mark: You throwing that nest egg and making some cash. We're talking drunk stock tips with Mark. Brandon ready? I don't know. He's like, nope. [50:56] Justin: Brandon's drunk already. [50:57] JD: Nope. [50:58] Chad: Or dope. Nope. [50:59] Mark: Can you. Can you play Mark's. [51:00] JD: Yes. [51:02] Justin: Audio. [51:15] Grant Arends: Oh, God, I wouldn't do that again. I want the whole song. [51:17] Mark: Okay. Please. [51:18] Chad: No, Ed, I don't have a black eye. [51:33] Mark: Yes, everybody. [51:34] Justin: Logo is so good. [51:36] Mark: It's like magic. It's. There's something very mysterious. [51:41] Chad: Chad, your laugh's becoming way more like hacklers than, you know. [51:46] Mark: Very intriguing and at times just jaw dropping. The skill sets for which Rogue Guy has when it comes to the stock market and the beat of the stock market heart. He. He told us to buy Apple at 142. Was the stock price today. It closed at 168, almost a 19% gain. Since his wise wisdom, we brought up Netflix to Robe Guy. At the time, Netflix was south of 200, trading at $199 when the RG recommended this sucker. I'm gonna drink for that. A strong buy. He said strong. Strong buy. Now it's just under $243 per share. [52:38] JD: I bought it at 170. [52:41] Mark: That's a 22% gain. [52:43] Chad: Can't all be as smart as you, Grant. [52:45] JD: Mind you. [52:46] Mark: Mind you, Grant, this is just when we brought it up to him that he just had a choice. Two weeks ago, we asked him about Zoom. He said, yes, I'm into it. It's only been two weeks, people. It's not down. It's up 1.78%. But it's been two weeks. That's a pretty short time horizon there. And then we come to a month ago, I brought up layered Super Foods, and Chad and Mark decided to have a battle. Not a battle over monetizing the participant, but about a lot the stock would go up or down. It was at 2.21 at the time. Chad said, buy it. What a dumb. Mark said, sell it. And after hours Today, it's at 195. You say, oh, well, that's not a lot in a month. That means this stock is down negative 10.41%. And rogue guy tried to warn you people. These are facts. These are numbers. You cannot argue with these things. Rogue Guy is a goddamn genius. Okay, we got a new one for you. The ticker twtr. And I'll drink twice. One for the rg and it stands for Twitter, buddy. I closed today at 43.94. Let's see, it hit some new lows in. In, like, March of this year of like 32. It hit a high of 77 in February 2021. I know you don't care about any of this information. [54:25] Chad: Doesn't matter. [54:27] Mark: However, the last 30 days, it's been on a 30% plus return. This might have something to do the ups and downs of when Elon said he was going to buy them when he wasn't sure. But. And Grant, you are not Drunk Robe Stock Guy, so I don't want your thumbs up or thumbs down right now. Okay? This is not for you. To stocks. [54:49] Chad: Well, yeah, immediately. [54:52] Justin: Let's just be honest. [54:53] Chad: My. I always go with my gut feeling first and foremost. Yeah. But seeing Grant immediately go thumbs down just means I'm a thumbs up 100. [55:06] Justin: There's no doubt. [55:06] Chad: Like, you know, Grant has. He has this. [55:10] Mark: The. [55:10] Chad: The. The wherewithal, the knowledge, the smarts, the education. I don't. I don't go off of that. I go off of feel. Right. [55:17] Mark: Well, what's. [55:19] Justin: What's. [55:20] Chad: What's going on out there? All right, here's all I can say. Here's all I can say. People like to say dumb. [55:32] Speaker B: Buy it. [55:33] Justin: Where can they do it? They can do it on Twitter. [55:36] Mark: On Twitter. [55:37] Justin: On Twitter. [55:38] Chad: Yeah. You give. You give someone a platform to just say whatever they want. Well, okay, let's not get on the political side and they're kicking off Trump and all that kind of style. None of that matters to me. I'm just saying someone that wants to say like, hey, I looked outside and saw a deer today. [55:54] Speaker B: Okay. [55:55] Chad: People like to do that. And other people apparently like to read it. So. [55:59] Justin: But you have to monetize that, Mark. You have to make money off of that somehow. [56:04] Chad: Sure. And they'll find a way. There's smart people around here somewhere. Like, yeah, that'll take care of itself. Again, Chad, I don't think about that stuff. It's the utilization and where do I go first? And again, let's be honest. You need to know where I go for my news quickly. If something happens immediately, where can you go to find it first? [56:25] Justin: 100 of the time it's Twitter. [56:27] Chad: Twitter, okay. Until someone else determines to. To broadcast news and the current events as quick as Twitter people do buy that, it's gonna, something's gonna happen and it's gonna be good. Elon's gonna come back. I was just kidding. [56:43] Justin: What kind of, what kind of ship Mark does Elon have on the fluctuation of this price? With all that's going on there, it's gotta, it's gotta make things weird. [56:54] Chad: I don't care, Grant. [56:57] Mark: Anyways, I'm assuming you're involved with a broker dealer or a securities license of some kind. I'm thinking you should save your comments for the after show. But do you have an opinion on Twitter? [57:10] JD: Yes. Elon promised to buy Twitter at $54 a share. Elon just sold $7 billion of Tesla stock because he's going to lose the trial, which is in October, to buy or sell Twitter. So the price is, you know, the price is. The judge is going to tell Elon to pay off their effort. [57:34] Mark: Even better. Are you kidding me? [57:36] JD: Twitter's gonna make a bunch of money from nothing. October. It's gon between 40 and 54 after October. Look out because it's all about the lawsuit in October. Judge gonna make him pay or is the judge gonna let him out? And the judge is gonna make him. It's a her, but the judge is going to make him pay billions for being an. And I love Elon Musk, but on this one he was an asshole. And it's total. The stock is totally based on share loss, share class lawsuits and we'll see what happens. [58:15] Justin: Any. [58:16] Chad: Any press, Any press is good press. People are going to read that. They're going to just see Twitter in the news and they're going to be like, I Should tweet about that one [58:25] JD: technology company on the planet. [58:28] Justin: That's why Elon's trying to buy it [58:30] JD: the hell out of it. [58:31] Chad: Disagree. [58:33] JD: I mean, all they should do is tell you if you want over 5,000 followers, you have to pay a fee. [58:37] Chad: Think about that logically. Think about that logically. You're saying it's the worst. Run everything. They can only go up from here. [58:45] JD: They can only go and on for free. If you've got a hundred million followers, you should pay. If you've got 30 followers, it should be free. As soon as [58:57] Chad: Opinions. [58:58] Mark: Wow. Don't let Grant. Don't let Grant run a social media firm. [59:04] JD: Trying to. You're a big deal on Twitter. You got to pay. When they figure that out, that stock is gold. [59:09] Chad: You know what they pay me. [59:12] Mark: Everybody out there, I. I feel like lately I'm losing control of the show. I don't want to say that it's my show. I mean, it's. It's a collaborative effort between me and Chad and the other two guys, whatever their names are. But these days I just feel like the banter, the thing. People jump ahead in my. I don't know. So if you could email me, message me, I could use some of your guidance. Okay. Before we head to the after show, let's vote for chat Bar champion. Just could also. [59:40] Chad: You could also try to, like, space the games out and stuff, too. [59:43] Mark: You know, I can't when everyone's bantering for 20 minutes. [59:47] Justin: It was good. That's why we were bantering. Grant was on a rant. [59:52] Mark: Your vote for Chat Bar Champion. [59:55] Speaker B: Going hackler. [59:57] Mark: Hackler. Nice. And hey, everyone, don't hold back your votes for Hackler. Don't make him. Don't turn him into Kelly Slater. If he deserves a 10, give him a 10, for Christ's sake. Vote for him if he liked what he did. Dad. Your vote for Chat Bart. [1:00:11] Justin: That was the only name I wrote down tonight, and it was hacked for his. 34 minutes into the show, JD's still trying to make a point. Comment. That's what won it for. [1:00:22] Mark: I was trying to make a point, and I felt like we were going all over the map. Mark, your vote for Chat Bar champion. [1:00:28] Chad: Timothy Yee. [1:00:30] Mark: Timothy Yee loves Timothy Yee. [1:00:32] Justin: Was ultra involved tonight, and it was good shit in there, too. [1:00:36] Mark: Loves that fish pizza. He loves that fish pizza. I'm gonna vote for David K. And I'm also gonna apologize to David K. I appreciate the private messages on Instagram and I'm sorry I didn't Use any of your examples for lamer game. But David, let's be honest with ourselves. Your. Your suggestions suck, okay? So appreciate the try but come on, step up your game. Grant your vote for chat bar champion is whom? [1:01:05] JD: I don't know who chatted but I'm. You know. My friend John Sullivan from 4 1K Specialist sends me a private message. He says, break a leg tonight, you magnificent bastard. So I'm going to John Sullivan's. My hero tonight. [1:01:18] Mark: That's fine. We don't like it when you vote. [1:01:21] Justin: He's not even here. [1:01:22] Chad: He's not here anymore. [1:01:24] JD: Petros Kamatras was chatting up a storm tonight, so. [1:01:27] Justin: Okay, there you go. You redeemed yourself because you lost a lot of points. [1:01:31] JD: Freak on the planet is the guy. I'm going for Petros myself. [1:01:35] Mark: Petros is a business partner of his. That's one of his in circle of friends. [1:01:41] Justin: Yeah, he voted for someone that wasn't here, that solely had like 3 comments at the beginning and that was very insecure inside. [1:01:48] JD: And he gave me. [1:01:48] Mark: He gave me. [1:01:49] JD: He gave me cyber hugs tonight. So, you know, no one was gonna [1:01:52] Mark: vote for Sullivan anyways. Okay, there you go. Those are the finalists. And it's you out there. You know the drill. You're gonna vote for the winner. [1:02:02] Justin: Once again, I think we should bet on. On who's gonna win. [1:02:07] Chad: You already lost. You already lost a bet. But JD's not remembering that there was. [1:02:12] Justin: I did not say a month. I'm gonna go back and find what episode a month on that part. [1:02:18] Mark: Where did you. [1:02:19] JD: Where did you just go? [1:02:23] Mark: Did you just go down here? My charger, Mark, he's going his drawer of old episodes to look for it. [1:02:31] Chad: He's what? [1:02:32] Mark: He's going into his drawer of old episodes. [1:02:37] Chad: Heck, man. [1:02:38] Mark: No, I looked at that episode. It's not there. It was in the after show. [1:02:44] Justin: It was definitely more than a month. [1:02:45] Speaker B: No, it wasn't. [1:02:46] Mark: No, dad, there's plenty of other witnesses here that can attest to that in the after show. Okay, you like me right now, Hackler. You're the champ. You're the champ, buddy. Well done. Here's the deal. I have bearer of bad news. Brannon is going hiking in the mountains next week and I am going to be on an airplane flying back from east coast on Thursday. My first instinct was, I'll let Chad and Mark and Justin run the show because we had Tyler Kirkland of Broadridge coming on as a guest. And then I had a really bad nightmare last night about how that went horribly wrong. And So I just don't trust these fuckers to run the show themselves next week. [1:03:33] Chad: Hey, jd, that's, that's the smartest thing you've ever said. [1:03:38] Justin: So I like Lester's idea. Remove me. Let Todor run it. [1:03:44] Chad: Chad, that counts. [1:03:45] Mark: We tried that once and we recorded shows. It didn't go so well. And so we will take next week off and then we will come back the following week with. Bryant lester on the 20th. What? [1:04:06] Justin: What? [1:04:07] Mark: Will be our guest? [1:04:09] Chad: Yes. That show may never air. [1:04:14] Speaker B: What about Tyler? [1:04:16] JD: I'd host it next week. My wife invited back. So you know, hey, we could do [1:04:23] Chad: that, Grant, we could do that. [1:04:24] Mark: I'll tell him it was your fault. [1:04:26] JD: Fantastic. [1:04:28] Mark: Grant, thank you so much for hanging out with us. Please hang out in the after show if you can. You don't have to. I see you've learned how to wear a baseball hat the proper way. [1:04:38] JD: That's good in college, but it really kind of shows my landing strip. That's not good. [1:04:45] Mark: Everyone who tuned in on a Thursday night, I'm sorry about taking the week off next week, but hey, you know what you do? Just grab a 12 pack of beer, head down into your basement and play a random old retireholic show from like 5 years ago and just get hammered. That's what you said. [1:05:02] Chad: Hey, how about this? How about this? We see, we got, we have to integrate more, I don't know, involvement in social media somehow. If you do that and you post something on social media, Instagram, Twitter, whatever, you might be in for a surprise chat bar champion winner. I don't know. [1:05:21] Justin: I'm pushing out my favorite episode that I think everybody should listen to. That's what I'm doing. [1:05:26] Chad: Chad, please don't do that. [1:05:28] Justin: I'm doing it. It's going to be the movie last week, isn't it? [1:05:30] Mark: Hello, Chad. For what episode? He thinks you should watch next Thursday. And then don't watch that one. Pick another one. Follow Mark's advice. Get wasted. Show us getting wasted and watching that episode and put it out on social and tag retireholics wherever you're at. Twitter, Facebook, Instagram, TikTok, you name it, we're all there and, and we'll find it and enter to you in to win a contest. And we'll, we'll, we'll announce that winner on the Bryant Lester show. I like that. Mark, way to go. Good for you. You, you, you're cool. [1:06:07] Chad: You. I'm out. [1:06:09] Mark: Yes. So with that, let's play a song. I will go pee in my hotel bathroom and we'll do the after show. [1:06:16] Chad: Oh, Brandon.