Jason Chepenick: Winning 401(k) Clients Through Authenticity

[0:00] JD: A few meetings. I've got an invite for a meeting on the 21st, but I've got to decide will I stay or will I go now? Will I be virtual where I go in person. The fact finding on a. On a new prospect. [0:16] Chad: And Chad, you're talking this month. [0:18] JD: This month? Yeah, like seven, eight days. It's the second one that I've been asked by an advisor to go out to. The first one was up in Sacramento. So I kind of politely said I'm not ready to mix myself up into a conference room at this point. And that was two months ago. [0:37] Chad: What are you telling your sales team right now? [0:45] JD: I'm leaving it up to them. You know, Mark's situation is different than Justin's situation. Mark's got little kids at home. Justin does not. So same with Josh. Josh took meetings last week, some of his first ones. So I've kind of left it in their hands and told them no, no corporate push down. In terms of what I'm going to tell you, you can or cannot do. [1:03] Justin: Justin's expendable. [1:05] JD: Justin is expendable. Yeah, good way to put it, B. Mark feels so good right now. It's not on him. [1:12] Chad: Shannon chimed in and said that she had an advisor insist that she be in person next Tuesday. It was one of you guys that had this similar situation while ago and I just told you, tell the guy to fuck off. I wasn't into you guys going there, but there would. Was that you, Justin, or who was a plan sponsor saying you had to be there. [1:33] JD: So did you go, Justin? [1:36] Chad: Yeah, [1:38] JD: that was up in LA plan right now too. [1:41] Chad: So that's good. [1:42] JD: What's that? That was the one up in la. Yeah, the one in la. That, that was the, the one with the Vietnam like corporation we talked about. Yep. [1:56] Chad: All right, we are about four minutes out but Jason, we are streaming and people have joined in early for pre show banter. So don't say anything you don't want your mom or dad to hear. Oh wait, your mom or dad are going to be on the listening in today. So they're not going to like the company you keep, I can tell you that. [2:16] Justin: You know, they are my parents. They know how I've. I've survived almost 50 years. I'll be 50 this year. I'm eligible for catch up. [2:25] JD: Somebody else in this room that will be as well within the next 12 months. [2:30] Chad: Thank you. Not this year. I will not be 50 this year. [2:33] JD: Within the next 12 months. [2:37] Chad: Are you doing. That's a big. [2:39] JD: That's a big you might be the youngest near 50 year olds I've ever seen. [2:44] Justin: All my. All my plans have been shelved because of current situation. Well, I mean, for now. Not sure what I'm gonna do. I had. Had big plans. It's bounced around. Yeah, I'll do something fun. [3:00] Chad: Hey, Mrs. Brandrup is in the house. [3:04] Mark: God, I always do that. My first chat's always to just you guys. [3:09] JD: There you go, Mark. [3:10] Chad: I do that too. [3:11] JD: But you wrote yourself as well. Yeah. Hey, Lauren, I take back my comment. You two aren't the two youngest 50 year olds ever. Or near 50. Shannon fits into that bucket. [3:22] Mark: Hey, Lauren, how do you like my new camera? [3:27] JD: Is that really a new camera, Mark? Because it's terrible. [3:29] Mark: Amanda, this one's for you. Cheers. [3:35] JD: Oh, man. Mark's got too many followers. Mm. [3:39] Justin: I like the robe. And then you guys should get, like, dinner jackets. Like the Hugh Hefner style. Each of you in a different, like, color or something. [3:47] JD: You know, none of us can sport the robe. [3:50] Mark: I appreciate that. And what I always have to. I won't ever ask. Just. Just before you start talking to me is I've got space on here to advertise. You know, your. Your advisory shop right here. Right there. You got everyone. [4:07] Justin: How much do you charge for, like, the chest patch right there? [4:11] Mark: Zero dollars and zero cents. [4:14] Justin: Really? Oh, I'm in. Man, I like that. I like that idea a lot. [4:20] Mark: And if you want to throw one on for your. For your 401k race, I can throw that on the back, pretend like I run marathons, and it'd be great. No pressure, though. Of course, no pressure. [4:33] Justin: But if you're in the back, nobody will see the advertising because you're in the back of the pack. [4:38] JD: Well, that originally came about from him wearing it on stage in front of. Well, you were there down in la. Quite a big audience. Yeah, so the back got some usage because he was walking up and down the aisles like he was a boxer afterwards. So it gets a little. Gets a little TV time. [4:58] Justin: I'm gonna full screen on you, jd. [5:00] Chad: All right, we're gonna kick it off. [5:03] Justin: Do it. [5:03] Chad: Go. [5:47] JD: Good timing. [5:49] Chad: How do you guys. [5:50] Justin: I have. [5:50] Chad: I welcome, everybody. Another episode of Retireholic sheltering in place a little FYI. I am on vacation in Lake Tahoe, and I think my Internet sucks. I thought it was okay. So if Chad has to take over the wheel for me. Chad, please do. Even though you have no idea what the intended subject matter for the day was, you can wing it. [6:10] JD: You can figure it out. I saw what you put on LinkedIn, that's about as close as I can get. [6:15] Chad: You guys can talk 401k without me. Welcome, everybody. Thank you so much for tuning in. Before I do some housekeeping, I want to do a little quick promo because I never, I never tell you guys enough about what we're doing here. So I don't know if you know, but over the past three, four months, we've done some 25 plus shows here and you can find them on LinkedIn. You can find them@retireholics.com you can find them on YouTube if you go to our Retireholics page. And then in addition to that, so since we started some five years ago, there's 80 plus total shows out there. Bet you didn't know this if you check out your favorite podcast app. We've got about 13 episodes there and all the newer ones get dropped in audio format on the podcast. So please check that out. A little bit of housekeeping before I introduce our esteemed guest. Make sure you're in gallery view. That's the best mode to be in so you can see everybody and you all know, please chat it up. Use the chat bar. The chat bar has become its own part of the show. We love it. So fire away in there and make sure that you're talking to everybody, all attendees, and not just the panelists, because everyone wants to hear your thoughts. Word of the episode or prohibitive word. Today we're going to go back to what we did with Frederich, if you want to check that up. Fred Reese did a one where we did four words. Brandon, if you put them up for me, the words were what? Everything around me. [7:56] Brandon: Get the money. [8:01] Chad: Cash, assets, money and funds. From this point on, if. [8:05] JD: Yes, Chan, I was just gonna say I got a message on LinkedIn which could be part of today's conversation about reusing content, recycling content. We totally just recycled that content right there. [8:18] Chad: We used it with fredreach and I thought it was really cool and fun and we never used it again. So it reminded me when we dropped that episode yesterday that, hey, I want to go back to that one and do it again and see how it works. We'll see. We'll see how it goes. I definitely wasn't going to ask Michael Webb to pick another word of the episode because that never goes well. So, okay, we've got a new buddy here on the show. He is a 401k plan advisor, part of the Resources Group A1 digital company. Hopefully I'm getting that shit right. And he is a Second generation financial services dude, just like me. So his father started a firm and Jason's there running it now and his mom and dad are tuning in today. So I apologize to them right now, if for any obscenities, I might shout or whatever. I'm sorry, but firm values dropping. Yes, yes. Your son, your son should not be hanging out with such low life such as us. He is also what I would a a top creative mind in our industry. And that's really why we want to talk to him today. He's got lots of unique, interesting creative thoughts around branding, marketing, service, the whole nine. And so we're going to dive deep into his brain with that. Welcome to the show, Mr. Jason Chepenick. Thank you. [9:46] Justin: Thank you. You said I was, but I'm really not a new friend. I met you all last year, so I'm an old friend. [9:55] JD: And you sat on the proverbial couch. It was just in a different format then. [10:00] Justin: That's right. [10:01] Chad: Jason, I'd like to give you the mic for just a little special moment before we kick off. So you have the air, buddy. [10:10] Justin: Well, first off, thank you all for inviting me today. It's great. And I really did want to kick it off with. With a toast to my friend Dave Reich. A lot of us watching today. We're real close to Dave Reich. Great friend. And I wanted to dedicate today's episode to our friend from LPL we lost recently, who is just one of the greatest people to walk this earth and certainly in our business. So to Dave. [10:33] JD: Dave, Kudos. [10:35] Chad: Cheers, man. Cheers. All right, I want to dive right into the first subject, but I've got kind of a creative flow here. I want to build out a bit of a narrative by asking you guys some questions. I've got a deeper purpose in mind, but I'm hoping these questions will just kind of help us get to that point. So let me ask you first, and we'll start with Jason, since he's our guest. Is it easier to keep a 401k client or to win a new one? What do you say? [11:07] Justin: Well, it's easier to keep one. You know, it's a whole lot of fun to win one. But keeping clients, we work so hard to get them that it doesn't take a whole lot to keep you keep them happy. You do what you're hired to do, which is work real hard on behalf of the plan. And more importantly, they're participants, which really is our client's greatest asset, is their employees. So you do the right thing and they're a client for a long, long time. Oh, did I just say. [11:38] Chad: I said the a word. [11:40] JD: Yeah, yeah, There we go. I need the button. [11:46] Chad: It was kind of. It was the answer I was hoping for, Chad. Mark, would you back that up? Is. I mean, it's definitely harder to win one. I should say more difficult. It might take more time to keep one, but it's tough to win them. [12:01] Justin: Right. [12:02] JD: I feel like that answer could vary a bit on the service provider you're talking to, meaning TPA versus advisor versus record keeper versus Auditor. I would agree with that statement. From Jason's perspective, you, Jason, are slightly different because you're probably servicing your clients directly as well. From a sales team perspective, we look at the advisors being our clients and we get to continue to service them, but it's rare that I continue to service their client and, you know, our team takes over at that point. So from a personal perspective, I would, I would say it's easier for me to win a client than it is retained, but that's because I'm not usually maintaining that relationship. Our team does a fantastic job. So I look at us as a business, much easier to retain a client than it is to win for us as a business. [12:47] Chad: Mark, if you're thinking about the advisors that you work with, do they. Are they more intimidated by winning a plan or just keeping a client long term? [12:59] Mark: That's a really good question, the way you position that. But I, but I have to say in generally speaking, the intimidation factor is always going to be adjusting and trying to break through and start winning that business because they're uncomfortable with the subject matter. Maybe they've never even had that conversation before about how to set it up, what the roles and responsibilities are. So I'd say 100% intimidated, more so by winning the business. And they are. A lot of times they're excited for the servicing aspect because they also know where they're comfortable. And that is in all likelihood talking to participants or talking to the plan sponsor about, you know, even whether it be the 401k or the other lines of business that they offer. So, yeah, intimidation on the front end for sure. [13:48] Chad: I ask you guys this because I've had several conversations over the past few weeks with advisors. And sure, some of them are new advisors, some of them are intermediate. They're probably not to the level where Jason is. But my discussions with them seem to have them focusing on their process a lot. You know, what they're building out to service their clients. And don't get me wrong, the same process that uses service. Clients can obviously be used in a point of sale to win a new client. But there. And it should be, but they seem to be spending a lot of time working on the steps, the process, the operations, and who's going to act as a fiduciary, not a fiduciary, what TDFs are going to use, what vendors are going to use. And that's all time well spent. But this leads me to my next question. I want to ask you what's more important at a point of sale. Is it your process, you know, your service and your process, or is it your image and your brand and the vibe and that point of sale meeting? And again, I'm speaking to an advisor trying to win a new client in a point of sale. The question goes to you, Jason, what's more important, your process or your brand? Your image, your vibe. [14:59] Justin: From a. The real answer is process. Because I have a lot of clients and I have to have a standardized process to make sure my clients are serviced. Well, I know who I am and I know what I'm More important, I know who I'm not. So if I maintain myself in terms of I know that we're creative, that we can have an impact with participants. I know how to make a committee take action and make a decision that's best for their plan. But that's not me faking anything. It's authentic of who we are. So I don't need to come up with who my brand is or the process is the key. That's how I make their plan operate most efficiently. It's how I make the plan come alive, which is what I'm doing, which is what I'm best at. So I think I'll land on final answer being processed. [15:51] Chad: Let me challenge you for a second and Derek, because I know Chad would agree with you. So I was about to go to him and I will go afterwards. But I might venture to guess, Mr. Chetnik, that you have a very charismatic brand and a style and a confidence and a history and a family owned business and. And you know what you're doing. And so you might think that as your process that's winning you new business. I haven't been there, haven't seen it face to face. I'm thinking that you should give a lot more credit to your confidence, your charisma and the vibe that you bring to the meeting. Am I completely off base? [16:32] Justin: You know, I think on the outside, those that look at me think that. But my ninja move is that my team is technically sound. We know how plans operate, from the payroll data to their record keeper. We design plans internally. So I think, again, those looking at us think it's the image and this creativity and, you know, this unique stuff that we do. But at the end of the day, as I mentioned, my ninja move is the fact that we know how plants operate. You know, Allen Iverson was known for always playing the right way, and Coach Brown always said, just play the right way. We know how to play the right way and we're consistent in delivering that great service. That, to me, is process. [17:22] Chad: Chad, I want you to comment because you sit in on a lot of point of sales. My concern with. I was trying to go the other way. I see some of the people in the chat slanting towards my brand kind of vibe, style. And my concern with that is, is after talking to all these advisors over these past few weeks, they all, they all sound the same to me, like they're all building the same process. And so my concern is that that's going to hamper them. Point of sale. But take, Take the wheel here. [17:48] JD: But you just said, part of what I think is most important is you said they all sound the same. And, you know, from day one, I've supported advisors in creating the process that they can actually show a client if they all sound the same. At Smoke and Mirrors, they're saying, this is what I do, but they're not showing this is what I do. When you have examples, like, Jason, you have the flip book, which you shared with us in la, which was awesome, about some of the different things that you've implemented for your clients. That, that ability to show a client what you're doing for them, it's no longer them saying the same thing. They don't all sound the same way because now you're physically showing them. And that goes to Ari's point. A little bit of the branding and sizzle comes out and you're able to show them your process. You're able to physically show what you're doing. And I think that's a differentiator in comparison to what I see most FAS doing. [18:36] Chad: Can I ask, maybe Mark wants to chime in or Jason, Chad, go ahead. But do you ever feel like when you sit in those meetings, though, that these advisors describing their process, it's almost like me, me, me, bragging about, like, well, we do it this way and this is the best way to do it and is that a good thing because. Or could that be a negative? [18:58] Mark: I mean, from my perspective, the process shows accountability to Chad's point if they're actually proving the ways in which they do it. And I think it gives comfort to the folks on the other side of the table who are potentially going to put their trust and confidence in them to successfully run that plan. So, again, I think the way I look at your question, just going back a little bit, JD Is that the vibe gets you in the door. Improving your competency, which I'll substitute instead of process, will win you the business [19:42] Justin: as well. Said I was going to add in, by the way. My company is not all me. It's not just Jason Szecepnick. Yes, I represent a certain thing and people know what to expect when I come in the room. But I've got great team of people. And as we grow and add people, if I don't have a standardized process and the formula to how we get it done, then how will I ever grow and let other people grow within my company? I want them to be themselves, right? But that's. And I support their growth and I want their own individual personalities to show up and not to be me. So that means they have to. I have to have a sound process to deliver great work, but in a structured environment that lets them sort of be themselves at the same time. I think that's really important. They are not just duplicates of me. [20:37] Mark: I think that that's awesome. But most of the people that kind of run with us at some point don't have a team. And I think that's. J.D. what your point is, they're trying to get off the ground. They're trying to create something. And so it is just them. They've got to build the book, They've got to find their partners. And that's going to be their process. Right. Their process at first is going to be partnering with the people who can help them in order to grow, obviously, hopefully to your level, Jason, one that all can aspire to be, but they're not there yet. They don't have a team that they can rely on. So it does have to be, I would say, a me show, but they could position that a little bit differently [21:16] JD: to show that their partnerships are how they're growing. [21:19] Mark: Practice. [21:20] JD: And that's what I chimed in a little bit before, is that it's an art form. If you're an advisor listening in and you don't have an established practice like Jason, the conversation doesn't need to feel like me. You can reference the scale of, as you guys would one digital. You can reference the scale of your broker dealer. The conversation of the me to show process doesn't have to be. This is what I do. It can be. This is the experience my client feels. And that's the art form of sitting in that meeting and not saying I, I, I, me, me, me, and really making the client feel like they're part of your process. This is what 18 months in the life of being a client of Jason Chepnick will feel like. [22:01] Mark: Yeah, JD Good worthy episodes, buddy. [22:04] Justin: Yeah. [22:05] Chad: Should have been processed. Should have been processed. [22:10] Justin: It's art and science, I would say art and science. So I think the art is the brand, the component that comes along. The science is the process, the standardization, so that you can sort of keep on growing with without having to add people and whatnot. [22:25] Chad: I should have prefaced, of course, I believe that you have to have a process. Right? You couldn't run a business model really, if you didn't have a process. I was even going so far as to. In my line of work, a lot of times I walk in a of sale, whether that's with a plan sponsor or an advisor, and I kind of assume that they know after 45 years that my company has a process and knows what they're doing. So my conversations tend to focus on other things. I think Chad nailed it. It's the dance, it's the balance, and that's what I want advisors to learn. As you work so hard at your process, make sure that you're spending an equal amount of time on how you're going to deliver that, both verbally, both digitally, both leave behind pieces. How are you going to. And the word for the industry is how are you going to storytell? Right? How are you going to deliver this message of your process mixed in with your brand and do it in the. What do you have 30, 45 minutes after your hellos and handshakes, you know, post Covid. So you need to do it quickly, you need to do it efficiently. [23:32] JD: And the last point that I'll make with that, JD is I've spent a great deal of time, especially this week, talking with advisors that are making their entry point into the case space. And for years, the last decade, I felt like I've worked really closely with many of those provider, those advisors who will step into the meetings with no process. Like they're going in and saying, I've got proposals from a few different providers. I'm going to go in and win this relationship because I'm so good on the private wealth. I'm going to get the private wealth. And for years in the past I've had to pull those people back and say, look, no, you need to create a formal presentation, an rfp. You need to show that you care about the client and what they're currently doing versus what you can bring to the table for the first time in a long time. And maybe it's because people have time because the pandemic. I'm getting calls from advisors daily that say I want to build out my process, and I hear you guys can help me do that. And I have not gotten that in the last decade. Most of the time it's, I've got an opportunity to help me win it, and now it's different. [24:34] Justin: Chad, well said. I was gonna add one more thing. So when I talk to my team, this is gonna be a different answer, by the way. So when I talked to my team, I focus on the three Bs. I may have said this last time on be unique, but be ourselves and always be relevant. So I had to have process to keep my business efficient, effective. We know, you know, I know how to get from A to Z. But for me to stand out for my peers, for me to pick up business, for me to keep sort of this livelihood that we've got going, the fun part of who we are is the three Bs, right? So be unique, but be ourselves and always be relevant. And the last one is an important one. Be relevant. The world's changing, man. You got to be in the mix. So [25:22] Chad: that ties exactly what I was trying to get across, which is I just want advisors to spend time building that be unique side, because it's just as important as the process in my mind. Chad. Jason, you feel the process trumps it a bit. So in the people in the chat, agree with me, it's a mixed bag. But you got to work on all those things, so please do. Mark, people are talking about their favorite baseball teams, whatnot, basketball teams. So I think it's time to catch their attention again. It's time for your game. Let's slide it in there. What's the name of your game? [25:56] Mark: It's a perfect segue when you say be unique, you know, because the most unique part of the show is probably what I bring to the table in [26:04] JD: my game, as we all can agree. [26:06] Mark: Justin shaking his head in agreement. Jason, I'm not sure if you are familiar, but we play a little bit, show a little game on the show called are you game or is it lame or is it lame or are you game? I don't even know the name to my own game. Apparently. But the rhyme quite well. [26:27] Justin: That's all good, too. [26:29] Mark: What's that? [26:30] Justin: You can rhyme. So that's all good too. So. [26:32] Mark: Right, Right. The point of it is just to ask some questions. Gonna be to everybody. And you're just gonna say if you think it's lame or if you're game. Could be as simple as a one word question, but here we go. [26:45] Chad: You ready to. [26:46] Mark: I'll always go to you, Jason, first. You tell me if you're ready. [26:49] Justin: I'm ready. [26:51] Mark: All right. My first question is, is it game? Excuse me? Is it lame or are you game if you get a call from a phone number and instead of answering it, you just go to the Google machine and type it in and see who it is first. [27:09] Justin: Lame. [27:10] Mark: Jason first. [27:11] Justin: Lame. Lame. [27:14] Mark: Let's see. [27:16] Justin: Unless it's after hours and you're dating. You know, then that can be a game. But during the day, I think it's lame. Business talk or conversation? [27:28] JD: How scared are you to answer your phone? If you're actually Google searching phone numbers before you pick it up, what have you done in your life? No, I'm lame for sure. [27:40] Mark: Well, let me also add in there. It doesn't have to be right away. It could be if it's a call you missed while on another call. [27:46] JD: How about that? [27:50] Justin: Okay. [27:51] Mark: Well, anyways, Chad, J.D. next. [27:56] Chad: I'd love to. After Chad's like, really attacking comment. I'd love to say lame, but I'm game because I do it. I need to be honest with you. I. When I see some weird number that I don't know, I Google it. Now here's my problem. I'm such a flake with my phone that I just don't have a lot of contacts in my phone. I've changed so many times, I don't map it over. I actually don't care to. And so I don't know who's calling me half the time. And sometimes I Google it. So sue me, Justin. [28:25] Justin: Google it. While you're on the phone, you can do. At the same time, you can multitask. Like in. [28:34] Chad: You just don't answer it and then your curiosity can't help it. Like, who the hell just called me? [28:39] JD: It's all making sense now for JD. Yeah, [28:44] Justin: no, I'm game, Justin. [28:46] JD: I had to. Sometimes you get those clients that just put you in the cold sweats and you don't want to answer the call. Justin, we're having a conversation. Post this meeting. [28:56] Mark: Yeah. Question number. [28:59] JD: Random calls these days anymore. Like at least now sometimes they say it's Spam. [29:04] Mark: It's my game. Stop talking. [29:07] Justin: It's kind of. [29:08] Mark: Mike. [29:08] JD: One time of the show, I get to talk. [29:10] Mark: Jesus. [29:11] JD: That's why I did that, Justin. [29:13] Mark: All right, Jason, Next one. Coconut water. I always. I always throw a food one on here because I'm curious. Coconut water game. [29:23] Justin: It's hydrating, right? You have a rough night the night before, you're out and about. Maybe the beach you want to like, you know, I think a little different, unique, right? I'm a fan of the coconut water game. [29:38] JD: Not. Not my pint of beer, but I'm gonna say game. I don't drink it, but I see its value. [29:45] Chad: JD Love it when I'm hungover. Makes me feel like I'm hydrating myself. If it is or it's not, I don't know. And love a little horse piss with some vodka, too. [29:56] Justin: I was gonna say that. [29:58] JD: Christian's comment, Justin. I had a bad experience with it when I was 15 in Samoa, so it's lame. [30:08] Mark: All I'm gonna say to that is it's like fruitcake, right? You got fruit and you got cake. You put them together, it's terrible. I love coconut. I like water. You put them together, it's terrible. I digress. Moving on. Question number three. I don't know if you guys hang out on LinkedIn too much. I don't really ever see you guys in the comments on anything but those virtual kudos that people are doing for people. I'm just curious, is it lame or are you game? [30:40] Justin: Jason? Oh, man. Well, I've done it for people, so I can't say lame because I've. [30:46] Mark: I wasn't calling you out for it, I promise. [30:48] JD: Yeah, right. [30:50] Justin: So, you know, I think I believe in being authentic, so I'm gonna go with lame because you gotta be authentic and just call the person up and tell them how it is. I'm gonna switch it up and say lame. [31:01] Mark: All right, Justin, I'm sorry I missed the question. [31:03] Justin: What was it then? [31:04] Mark: You're done, Chad. [31:06] JD: Lame. I just realized I'm not even connected to you on LinkedIn, Jason. Which is scary because I was going to try to feel what a virtual comment kudos is. I have no idea what that is. I'm gonna call it lame, [31:20] Mark: J.D. [31:21] Chad: you mean like when you say, oh, that person's good at 401k and you give them a thumbs up or something? [31:27] Mark: Yeah, but it's got like a little picture and it's like. It's a kudos. Like, it's like, yay. [31:33] JD: Yeah. [31:33] Chad: Lame. Super lame. [31:34] JD: I've never seen that. [31:36] Chad: That's about as lame as the acronyms at the end of Amanda Iverson's name. [31:42] Mark: All right, number question number four. And [31:49] JD: found it, Mark. [31:51] Mark: To even figure out what these were at first. But I think Jason will probably know what they are. But you know those white stickers on the back of people's car? It's a 13.1 or a 26.2. Apparently that's to show how many miles you've run. If it's a half marathon, full marathon. I'm just curious, Jason, is that lame or are you game with that? [32:18] Justin: I, I don't have them on my car, man. So I, you know, nor do I have the little stick figures of how many kids I've got and the dog in the back of my car. I think that's lame, too. So I'm going to call that one out. Pat's lame. [32:36] Mark: Now, the reason I say that too, obviously I mentioned it earlier, was and feel free to plug this right after I stopped talking is you have the 401k race for financial Fitness. Do you want to say anything about that and plug it? Maybe tell people about it? [32:51] Justin: Well, yeah, I mean, this is a strange year because we had to go all virtual. I would tell you what, I'm super proud because before the world fell apart, we still raised $250,000 using this platform. So the 4.01 race for financial Fitness clearly has legs, no pun intended, that it started off as a wellness initiative. Hey, if you're going to promote physical wellness in the workplace, which is now become well being programs, not wellness. It's a more robust term, then you have to have enough money to last a long time. So when we came up with this race idea and our first race was on 401, which is April 1, April happens to be National Financial Literacy Month. So I have a lot of good ideas. This one, the moons and the stars lined up. I was super lucky. And so let's use this moment to raise awareness for workplace savings programs. Let's create this wellness initiative for companies. And any money we raise, we're going to get back to local community programs that support the advancement of financial literacy. So Boys and Girls Club, Junior Achievement, there's others. Last year, it's $500,000. So, you know, I've got a lot of bad ideas along the way. I've got some great ideas. I still am shocked that and I'm not the first one to do a 401k raise. Let me call that out. I'm not the first one. I'm the first one to pull it all together in this way to promote it within our space and then use it as a platform to raise money. So I'm pretty psyched. [34:25] JD: That's awesome. [34:27] Mark: Yeah. [34:27] Chad: Who is this? [34:28] JD: I'm gonna send you a virtual. Kudos on LinkedIn for that. Jason. [34:31] Chad: Yeah. [34:33] Justin: You first get to be my LinkedIn friend before you can send me a virtual friend. [34:36] JD: Try it. I request it. Just accept next time. [34:40] Mark: I would ask the rest of the guys about their opinion on that matter, but it doesn't matter anymore. My last question. And I always kind of leave the best for last. As far as now, I know you have a taco truck that you. You roll around in. It's world famous. So there's four of us, retireholics, but in my mind, you only have three openings when it comes to operating a food truck. You've got the person who drives, you've got the person who cooks, and you've got the person who is the face of it all. The cashier, the customer service person. Right. So of us for retireholics, I need you to pick the cook, the driver, and the person who would be the face of it all. And then the fourth person, you basically are just ripping up the resume and throwing in the garbage. [35:26] Justin: I think there could be a fit. There's room for a fifth. I think the megaphone on top of the truck, which you can't get there. And, like, somebody calling out, like, what's up? There's room for. We'll call that the 0.1 person. So there's 401. Like, that could be the person who could be the one. Call it out. I'm gonna go with. JD Is a server. [35:46] Mark: Okay. [35:47] Justin: Right. [35:48] JD: I mean, he's got to pull all that stuff back. Wear a beard, cumber. He's got to find a way to keep that. [35:53] Justin: He's the guy in that window right there, like, delivering your food. That's. That's got to be J.D. right? I think, Mark, you're. You're the driver of the truck. More like ice cream man comes around the neighborhood. Little creepy guy, sort of not quite sure of. [36:09] Mark: I'm into it. [36:09] Justin: I'm into it. [36:10] Mark: I like it. [36:11] Justin: If you're wearing the robe. You know, it's. That's. [36:15] Mark: That's super creepy. Yeah. [36:17] Justin: You know, might stand out on that one, I think. I don't know. I think Justin might be in the back flipping the. Now, whatever I say, flipping burgers, but really, you're getting them Together. And Chad's out there promoting this idea of sign up for the 401k plan come up, and if you sign up for the retirement plan, you get a free taco. And if not, by the way, my favorite part of the whole thing is if you don't sign up for the plan, you just get rice and beans, because that's all you can afford to eat in retirement. That's like the whole enchilada is right in the. In the punchline there. I love it. [36:54] Mark: I love it. Well, you know what they say. [36:58] Justin: I said before. It's. You know what they say? [37:03] Mark: The game's over. [37:04] Chad: Thank you, Mark and Chad. Yes, I know. I wrote that to everybody. I was watching Christian camp and tuning in. I'm like, who is this Christian Camping guy? He said the 401k race was disrespectful to 403bs and 457s. I think he was the piss commentator. I'm like, I don't remember this guy from the chat bar. He's a. He's a stud. [37:25] Justin: A leader. [37:27] Chad: So we need to have him come back. [37:29] Justin: I'm learning now. [37:29] Chad: He's on Jason's squad over there. [37:32] JD: I sent him a virtual photos already. By the way, I need to ask right now. Is funds part of our. Yeah, okay, because Jason said it, like, four times. And I asked Brandon if it was or not, and he's like, nope. So I'm gonna take it for my saying. [37:48] Justin: All right, I'm in. [37:49] Chad: I'll take it. Just because. Just because. [37:52] JD: By the way, Mark, you see what I'm having for my prohibited word? The anejo. Thanks, buddy. J.D. [38:01] Chad: chad, what did you call the beard? Hair net thing? You had a word for it. [38:06] JD: I called it a mask cummerbund. [38:09] Chad: Okay. [38:11] JD: You'd wear around your waist, but you're gonna wear it around your beard. [38:15] Chad: Fair enough. Thought you knew something. I didn't. But you're just making up. [38:18] JD: Okay, Gannon's asking me the wheel of ices twice now. [38:22] Justin: She needs it. [38:23] JD: All right. Oh, it's totally gonna be Jason. It's totally gonna be Jason. [38:40] Chad: You should have made it, Shannon. I sent her. I sent her Smirnoff. She could just drink from home. [38:45] Mark: I was gonna apologize to Barney on this one. Sorry, sir. [38:50] Justin: To Barney. Barney's a good guess. Barney's got it together. [38:57] Chad: Shannon and Amanda, you both should know better than anybody that it is not [39:01] JD: always Mark, you learned the hard way. That lets you know. [39:08] Chad: Let's move on. [39:10] JD: Amanda might be the only guest we've had on that has never actually watched the show because she thought the Wheel of Ice was always the guest. Okay, no, now we know. Now we know. Amanda. [39:23] Chad: All right, I want to kind of stay on the same theme but shift the subject a little bit. I used to think this was true. I want to ask you guys if this is still true. Number one question for you from advisors who are more novice, beginner, intermediate. Is it still how can I find more prospects? How can I win more business? Is that the front of mind thing for them or is that not true anymore? [39:52] JD: I'm going to say no. I'll answer first. [39:55] Mark: I didn't hear the question. [39:58] JD: More often than not, the question I get is how do I win this opportunity that I met on the golf course or met at a dinner or have stumbled across more often than not? That's the question I get is support and winning it. Those that are looking to build out J.D. yes. It's all around prospecting. It's how do I find opportunity, how do I get in on opportunity and then how do I win opportunity? Yeah. Especially those that have never actually sold a plan yet and kind of wanting to get into the market of some sort. Maybe they focus on private wealth or work for an insurance company. A few of them. [40:34] Chad: I want Jason to chime in and then you guys, are these things still relevant answers? Do we still mine 5000-500-500? Would you say that there's still seminars and webinars to generate new business? Is it strategic partnerships like partnering with a group health shop or a CPA firm? Is it do you pay for meetings? What's your guys vibe on that these days? You know, are you willing to pay to get a meeting? Jason's already got thoughts on that. And is social media content starting to kind of wedge its way in as one of those options? Jason, what are your thoughts? [41:11] Justin: I think if you do great work for people, then people tell their friends about it. So you know HR people, by the way, my best contact, you do great work for, for a client and HR payroll, those roles are the most critical roles to operate in a 401k plan and somebody in payroll, their next job is to get an HR job. And after hr, it's not just an HR generalist become they become head of comp and benefits or they get a chro job. So you do great work for people and organically you win more business. I hate paying for leads. It's never worked out. I've eaten the candy before and every now and then you've done it before. It's the worst. I don't do webinars. I hate that kind of stuff. It's not authentic enough. It doesn't connect the dots to what I do in a way that it really knows who the Checkmate team is. It's fun to pick up new business, but if you don't take care of what you've got, I don't believe you deserve it. Why should I get something new? I got a great group of clients. I would do good work for them. A new door will open up. I go on and on, man. But that's. [42:26] Chad: Well, very well said by the successful dude who's got a bunch of clients and has a process that he loves so much. But he answered me this. For the guy who's got four plans and wants to grow to have 15 or 20, I don't think he can rely on that strategy. Right. He's got to roll up his sleeves, get out there and unearth some shit. So how does he do it? Mark, Chad or she? He or she? Sorry. God damn. [42:54] Mark: I'm not going to lie. I was having a hard time hearing you there. [42:57] JD: No, I think I heard you though. [42:59] Mark: Okay. [43:00] JD: Yeah, I think J.D. i think most of them are looking to create straight strategic partnerships because they don't have the opportunity Jason does, where the book is built and can rely upon HR folks believing in the success that you've helped them achieve within their plan. That is. So many of them are looking at strategic partnerships. They're looking at CPAs, they're looking at payroll providers. But more, more often than not, they're scouring those lists. Absolutely. They're trying to figure out who fits the demographic of the type of plan. They want to look at 1 million to 5 million average account, balance, number of participants, provider they might be with. If you can get that information and they're pushing hard on that, [43:42] Justin: I think you're better off. Sort of, from my perspective is find an industry and get to know the industry, top down, left, right, and completely around it. So whatever it is, if it's. I've got a bunch of chicken farm clients, know a lot about chicken farms. But whatever the. If it's trucking, if it's hospitality, if it's law firms being expert in that space. Cause if you can talk the language of what they're experiencing on a day by day basis and trying to recruit talent, trying to retain talent, understand what their daily life is like from morning to the afternoon, I would say specialize in one industry and be awesome at that. And then once you get really Good at it. You'll find you'll organically get to another industry and be awesome there. I think that's the way to go today. Personally, I mean, I'm very fortunate also that we've been acquired and now a partner with One Digital, which is a health insurance consultant. And those open up a lot of doors for people that are trying to get in the space if you can associate with a strategic partner. But at the end of the day, you have to really have a process and you have to be confident when you walk into a client that you can really help them. I think you specialize in industry. If I were. If I was starting off today, I think it doesn't really matter what it is. Go to their industry conferences, learn everything about the industry, who are the top players, what's happening top down, and then I think it organically will happen for you. [45:21] JD: What about. I mean, I agree. I think, you know, there's a few advisor partners who do that and I think there's true value in it. But what about those ones who just need to. I think that's a slower process to actually gain plans and win plans. [45:32] Justin: Right. [45:32] JD: I think you still have to cast a wide net and kind of find out what your niche is going to be though, too. I don't know. [45:39] Justin: I don't know if that's really effective. [45:40] JD: I mean, it's super effective, obviously, long [45:41] Justin: term, but I think, you know, there's plenty of advisors out there who were just focused on they need to get assets in here. [45:46] Chad: Now they don't. And you're saying, Justin, they don't want to just limit themselves to one little small area. Oh, yeah. Drink? I like Jason's advice this time, Chad, coming through here. But maybe you can cheat a little bit. Instead of doing one industry, you do two or three. [46:04] Justin: Well, that's fine, but you can't be. It's hard to be the expert in all of these. So pick a couple that. That makes sense. And by the way, we talked about being unique. Pick a couple that nobody else would think of. I have a whole bunch of chicken farm clients. You would never believe that there's tens of thousands of employees with terrific pension farms. I also have parking lot companies. You never would have believed that the parking lot niche is terrific. There's probably 150 or 200 more unique industries that have great pension plans that you can step into that you would make a difference in. Now I see some laughs. So I don't know. [46:44] Chad: It's Christian. [46:46] JD: It's Christian, everybody. I was going, yeah, Christian, you got to write to everybody because that stuff's too good. Change your response to all panelists and attendees. [46:54] Chad: Oh, that's only going to us. [46:56] JD: He's only. He just, he changed it. But Jason, I originally wrote down you should pick an industry you're passionate about, but I can't imagine you were super passionate about parking lot pavers and chicken farms and you just happen to stumble across a client that you enjoyed and it led to this. Am I right in that doc? [47:14] Justin: Yeah, I got lucky. That's exactly right. I had a client that was at a pharmacy, went became HR for a chicken farm and, you know, and learned that business and realized that there's, you know, to me, it's not the assets, by the way, it's how many bodies I can impact, you know, participants. And I hate the word participants. Employees I want. Employee count is a regular person. An employee is a body human. So there's thousands of employees that work for these chicken farms and these parking lot companies. I can make a difference there and nobody else is going after them. So I felt like I was comfortable for the. [47:58] JD: I got two quick things. One is, I love that thought, Jason. I really, really do. Jake Rushton has been pushing that on us in the last eight times I've. Ten times I've spoken to him. It's like, pick your niche and fall in love with it and enjoy the people you're helping in that niche. My question for you though, and I'm genuinely curious how your answer would be since you failed at the calling services a number of times, which is if you left the advisor world and you had to go open up a lead generating firm, what would you do differently to make it successful? Because I think if done appropriately from the advisor side, it can be successful. But if someone like you didn't succeed with it, I'm very curious what you would do differently. [48:43] Justin: I'm stumped, man. I don't have a drink. I don't know what to. If I would do. So it was the question, Chad, like if I were to leave the retirement plan business. But then what's. Define the question a little bit better. [48:56] JD: You create the new 401k exchange because I'm sure that one rings a bell for you. What are you going to do differently? To sell leads to make it valuable for an advisor to buy leads so that they lead to some success. [49:11] Justin: As you know, I have. I'm a very passionate guy, as you all know, and I lead with my heart perhaps more often than I should. And it's been very Difficult because those lead services are not authentic. They're using, in my opinion, fake numbers or fake information to set up a meeting. I hate that part. If I were to do it differently and try to create a business, I would go to an industry association and say, let me build out something that fits, you know, that's relevant to your group. I would go to the association for that industry and say, hey, let me provide retirement plan advisors for your entire industry and then get the AOK from the association and then turn around and dull the matter. Across the country, people who I think are good fits, at the end of the day, it's people that make the difference. It's a cultural fit. It's like a. Again, it's not the Numbers you talk about 5500 scraping, it's some information you get from that. But it's two years old and it oftentimes isn't reality from where they're at. [50:26] Chad: And [50:29] JD: would you employ someone calling on prospects in the office then? If it's about the culture, the relationship, the vibe of the business being authentic, would you put someone that's calling, dialing for dollars to create relationships inside your business? [50:48] Justin: I never have in 20 plus years. So it's hard for me to say I would do that because in all these years I've never done it. So I bought leads. I'll tell you this, I have bought leads. As I said before, ate the candy. It seems so easy. Oh, you know what? I had this opportunity. The numbers look good. I can definitely come in and make a difference. There's never one of those, not once in all these years has somebody else brought me something that actually turned out to be the real story in the end. Not one time in all these years. And there's some great companies that provide leads. I don't want to disparage any of them, but I want somebody who really is looking to make a difference in their plan. And you can't get that from the numbers. I can't get it from a cold call. [51:42] JD: And I tell you what's valuable. [51:45] Justin: Well, I talked about the three Bs before. I can tell you what I know the most. My most successful plans have three things in common. They have a commitment from leadership that the retirement plan is an important part of the benefit practice. They have an active number. Two is they have an active, engaged decision making process. We'll call that the committee. Like a vibrant committee that's not too big, not too small, but they really want to make a difference. The third is the most important of all. They're willing to listen to a new idea and have the courage to implement it. Everybody repeats the same thing. You go into a meeting, you report the numbers from last quarter, it's non relevant. You get participation numbers, non relevant. And you know, you talk about some new legislative action, not really relevant to most of my clients. But you never talk about the big decisions, the meaningful conversations that they have to take to make sure they have transformational change to that plan. The clients that I fit best with are the ones that are bold, that are willing to have a meaningful conversation and truly say, you know what? I'm sick of repeating the same efforts for the last 20 years. We don't do in person meetings anymore because of COVID But without that, how many people thought the same thing? Oh, we'll do a quarterly group meeting, you know, annual group meeting. Doesn't matter what it is, they were not relevant, they didn't work. So again, the three things are commitment from leadership, that it's going to work, that they're committed to the retirement plan, active and engaged decision making process. Most importantly of all, listen to a new idea and have the courage to go for it and try something new. Those are the clients that I'm attracted to and they're attractive to me. [53:34] JD: That's. We're trying to give value to the average advisor. Everything you just said there was, I would imagine, a learning experience. And so I don't think anybody said it there. I appreciate you. You're leading, you're leading us down the right path. [53:53] Chad: I thought if there was such great takeaways there with Jason's little rant. And so if you're out there listening, what I heard is confidence, courage, and someone that stands for something. And I think more advisors need to do that. I think too many of you are going in there and trying to be like a chameleon and fit into the situation that you're put into. I'm getting the vibe that Jason commands a room. He stands for something. He has his own ideas and opinions. And that's what I'd like to see other advisors try to be more like, [54:27] Mark: agree. [54:27] Justin: Thanks. Me too. By the way, as you know me, I will share almost every single idea that I've implemented. I say almost. I mean, I really will share 95% of them because I want great retirement plans. I want plans to be successful. I want my friends and my colleagues to be successful. I will share them all. Just because, you know, an idea is a difference between knowing about it and implementing it. So I'm confident sharing it. Because I know that my team can stand a part of how we implement it. But we all can do a better job of improving the state of our retirement plan. So let's share the best of the ideas, man. Across the, across the platform. [55:06] JD: Y' all rock. [55:07] Justin: By the way, this is like in the last six months, which feels like six years. This is one of the most fun evenings I've had, you know, past 5:00' clock in the, in the evening. [55:22] Chad: You should have been here last week. We were really having a blast though. [55:28] Mark: You're in Florida, right? [55:30] Justin: Yes, I'm in Florida. [55:32] Mark: I'm just curious, do you ever get annoyed by all the Florida. They call it the Florida man. You know, all that stuff, the crazy, the bad rap Florida gets about people doing crazy, weird stuff. [55:44] Justin: Yeah, we have a lot of Karens that live in Florida. [55:47] Chad: Yeah, that too. Mark, I think what you're referring to is like, you Google like Florida man and a date, right? And then something crazy comes up and [55:59] Mark: it's always like Florida man sets himself on fire and runs into a bus. It's never anything logical by any means. [56:10] Chad: Before we shift to a little story and I don't know if I'm coming in. Hopefully I am, but I just wanted to say one more thing about the 5500-500-00, as limited as they are. I think it's really cool that we're in an industry where you can literally search through a geographic area per certain filters and then stare at a list of 200, 500 potential prospects and then whittle that down. So I just don't want that to go to the wayside. Like, I think that's fucking cool. And I think it can inspire advisors and give them a target, you know, things to look at and kind of work that, that list and get deeper with it. But, but I understand that it has lots of limitations as well. [56:51] Justin: But J.D. i'm gonna, I'm gonna show one of my best ideas ever off of this. And I'm sure my team right now is like, is doing the emoji teeth. Um, there's a part in the audit that showcases an inefficient component to the retirement plan that I focus on most. And that's the vesting schedule and the, and then the utilization of forfeitures. This is the component that speaks to whether that plan is operating efficiently or not. So when I come across a plan, and I know they're an industry that has significant turnover, but yet has a five or six year vesting schedule, I already know there's an Opportunity for me. Because if you're turning over so quick, why not have a cliff vest? Why would you do 20, 40, 60, 80%? It doesn't make sense because why would you give your employees 20% of the money when you're going to leave in a year? And then you look further down in the 5,500 and the showcases how much money is being spent right from forfeiture monies to offset the current. I see stuff like did I just have to like drink or something Twice. [58:13] Chad: Keep talking, keep talking. You can save them. [58:15] Justin: And I see dollars like thousand dollars, 1500 bucks for 20, 40, 50 million dollar plans. You know for certain that they're not sweeping out the de minimis accounts under $5,000 because you know it's an industry that has a lot of turnover that they have a match that's stated in there. But the numbers don't make sense. And so I use that one piece of information and I take a leap of faith when I talk to that client, HR Finance. Otherwise that hey is your turnover, X is your spend. Why then why is it you're only getting $1,000 in 442 utilization. And this to me leads me to wins just because I know how to use the data. 5,500 to actually tell me a story more than I don't care how much money is in the plan. I look at the share classes but that may have changed. The key to me is, is looking at forfeitures and vesting schedule. And I just gave away one of my biggest secrets. Just because I gave it away doesn't mean people know how to utilize it. But I'm willing to share. [59:27] Chad: Well, I'm glad that you did because that was awesome. It costed you three shots of whatever you have. Not full shots, but you got to take from your penalty drink three times. That'll work. You might want to finish that sucker. [59:39] JD: That's not something kudos to you, Jason. Again I'm going to go on to link and I'm going to give you a virtual kudos for that comment because I've never. Mark, I sent you one already and I'm really proud of it. [59:51] Justin: Oh God. [59:52] Mark: For some reason I knew you'd like that stupid stuff. [59:55] JD: I've never heard of anybody doing that. I can't. It's not mineable. Right. Because the audit is not, is not part of what systems are pointing. You actually have to open it up and take a look in there. [1:00:08] Mark: Yeah, it's like bitcoin. [1:00:09] JD: But it is an incredible, incredibly valuable point that I have never once thought about. [1:00:15] Justin: Fair enough. [1:00:16] JD: That's really cool. [1:00:18] Justin: I'm not that smart. That's the thing. I'm not that smart. I'm worthy. Again, everybody knows me as a creative guy. [1:00:25] JD: It was Christian. We get it. [1:00:28] Justin: Well, that's going in there and, like, evaluating. [1:00:31] JD: Say, hey, let me look at this first, because I want to see what your turnover is. Or you're just saying, hey, look, on average, this is what you should. [1:00:38] Justin: This is. This is part of my secret sauce, which is knowing industries really well. I know hospital. I know manufacturing, distribution, call centers. If you know an industry really well because you spent a lot of time servicing them or researching them, then you already know what the average turnover rate is for that client. And it's hard to be off by 5% when you know the industry really well. [1:01:07] Chad: Yeah, well, in theory. Think about who Jason's up against. What are 90% of the other calls? Right? It's, hey, I want to benchmark your fees. I think you're paying too much. You have a fiduciary responsibility to blah, blah, blah, blah, blah. And he's going in with a more targeted approach. And obviously, I think that could pay huge dividends. You see how I use it A different word than the four words? [1:01:34] JD: Good replacement. [1:01:36] Chad: Let's. Let's. Hey, guys, there was a special story that someone wanted us to ask Jason about. Can one of you guys take it in case my Tahoe Internet drops? What's the. What do we want to ask him about? Something about losing a tooth, [1:01:52] JD: Mark or. Justin's got it. [1:01:54] Mark: Justin's got it. [1:01:55] JD: About the time he sold a plan with a missing front tooth in Chicago after Lollapalooza. [1:02:01] Justin: Yes, my dad. Barney is listening. And poor Claire, because she was there, too. Sorry, Mom. Yes, I was in another group I've been listening to. I was in Chicago for. There was a conference. I had an opportunity to present to a large plan. At the time was a 30 or $40 million plan. And I went out the night before, which was Lollapalooza, and I got an elbow in the face and knocked my. This tooth right here out. And I swallowed the tooth. And my presentation was the next morning. And so I showed up to breakfast with my cousins and my mom and my dad, and I was missing a lens in my glasses, and I was missing a tooth completely clipped off. And I was talking like this, like my type, like this. And we had a presentation that day for this plan. My dad's like, what the f are you gonna do? I said, trust me. I Got this. And I walked in, and I had no tooth complete. I had no glasses because my lens was missing. I did have a receipt from McDonald's, which is a whole different hangover type story. But I did show up. And when I say out loud that I apologize for not having a tooth. I was at Lollapalooza. The guy says, my daughter got a black eye last night. She got hit in the eye at Lollapalooza. And so right away, my dad's like, you effing son of a bitch. [1:03:37] Chad: You. [1:03:37] Justin: You so lucky. And then we won the. We win the piece of business. [1:03:40] Mark: So. [1:03:41] Justin: But I. Mom, I'm really sorry. That happens if. And I remember it was yesterday, and we have. We have questions. [1:03:51] Mark: I have a question about this. So the elbow. Was it in a mosh pit? Were you in a fight? Or was it just a random whoopsie? [1:04:01] Chad: Great question. [1:04:03] Justin: Here's the deal. There's two stories. There's the one I'm about to tell you, and there's the real story. [1:04:07] JD: So we have a couple of those. [1:04:10] Justin: Tell me the real story. [1:04:12] Mark: The. [1:04:13] Justin: I. There were people next to me, and there was this. And I got an elbow in the face. It was sort of an accident. And then I was very apologetic afterward. Didn't mean to knock my tooth out. [1:04:39] Mark: Sorry, follow up question. Who was on the stage at that point? Like, what music was on? [1:04:46] JD: You can't remember. [1:04:48] Mark: Yeah, you can. [1:04:50] Chad: She can. [1:04:50] JD: You know. [1:04:51] Justin: Look at that face. [1:04:53] Mark: Okay, now third question, and the one everybody wants to know and the one that I'm gonna walk away from. [1:05:01] Justin: Nine Inch Nails have played earlier, and. But it was. Yeah, I remember exactly. [1:05:08] JD: John Mayer. [1:05:09] Mark: Yeah, did. [1:05:10] Justin: Oh, I'm old. I'll be 50. [1:05:13] Mark: Did you ever recover the tooth? [1:05:16] JD: Oh, Jason goes to 1975 concerts. [1:05:19] Justin: No, he swallowed. Oh, I swallowed the tooth. So it was recoverable, but I did not recover it. [1:05:26] JD: Okay. I feel like. I feel like there's two things that are hidden stories here. Number one is the plan sponsor, whose daughter got a black eye, unfortunately, is probably not at Lollapalooza and was using that as a cover story. And you have a real story to this that you're not willing to share. Definitely want. [1:05:49] Justin: Here's the deal. Like, I believe in living life. I live life to the fullest. I have lots of fun. My favorite thing is to see live music. And so, you know, I've learned to settle down a bit. I learned a big lesson that day. One was when I told the truth. I still won because I told the client what really happened. But I also learned that there was a limit to my fun and that I should probably dial it back a bit. So from that day on, I dialed it back just enough that I wouldn't get a tooth knocked out. [1:06:24] JD: Listen, you're in the trust tree here, buddy. You can tell us. It's fine. Nobody's watching. Nobody will see this. You can tell us. [1:06:32] Justin: LinkedIn request me and I'll tell you more. But there are some people who. In California. So there's a guy named Larry Deathridge. You guys know Larry deathridge? You know Tony Franchi? Mo, right? [1:06:41] JD: Yeah. [1:06:42] Justin: Party Larry has a video of me without the tooth. He was there that night, the next night, in fact. And he, in fact, has the video, which I will. Okay, I'm gonna give right now the o. A okay to share with this crowd. [1:06:59] JD: Oh, yeah. [1:07:01] Justin: The video of me the night after without a tooth. That. [1:07:07] Chad: We should have had that video prior to the show. That was a huge mistake. Can I ask who in the chat bar knows that I had my Little Mermaid ringtone played during a 401k meeting? This was with a huge plan that has. Oh, okay. I'm like, son of a bitch. Because that's true. And that plan had lots of assets. [1:07:31] Justin: Oh, I've had plenty of fun. So I used to. I used to walk into meetings with iPads, right? And pass them out and only deliver back. We could be in in person meetings. And. And. And I was single back in these. These. And I had JDate. I'm Jewish, and I was dating service called JDate. And I passed out by accident. My own iPad to the chairman of this committee. And during a meeting, a message popped up. A JDATE message popped up to that person's iPad. While I was. [1:08:10] Chad: That might be better. That might be better than the tooth story I believe in. All right, well, it's been an hour. [1:08:19] Justin: We're gonna have J.D. you all have your own four words. I have my four words. So I thought I'd share with you four words of wisdom. Okay, Nicole. See? No practice yet. [1:08:32] Chad: Very cool. We'll listen to your four words, and then we want to thank you in advance. You'll end the show. We want to thank you in advance for showing up. Thanks to everyone out there that was listening. We'll hear your four words, and we'll play a little music to close it out. Sorry about my Internet connection. [1:08:48] Mark: Go ahead. [1:08:49] Justin: That's cool. Listen. All right. My four words are save, spend, invest, donate. You ready? Save. I tell clients all this. Save for your future. Doesn't matter if it matches there or not. As an industry, we made a mistake. We taught people to only save as a company match. The word I learned when I lived in New Orleans was land gap. A match is a little extra, but so save for your future. No matter what, spend time with your family. I'm not spending money. Time with your family is one of the most important things we can do as a group. Invest in your total wellness. Because at the end of the day, if I'm not mentally well or physically well, I can't be great to the people that I love the most or want to serve time with and donate to make the world a better place. The Hebrew word is tikkun olam. To make the world a better place. But at the end of the day, it's not about how much treasure I give them or money. If I can help invest in my community, especially right now, the line between being able to feed my family, clothe my family, provide shelter is so thin. When we've got things like the pandemic, we can have great fun here tonight and we can all do great work. But when you look around your own personal communities, there's a lot of people that are scared and at risk. And if we can all do something a little extra to help them, I think we can do great work. So the four words that I'm using these days are save, spend, invest, and donate. And to that, I want to thank the retireaholics for making a great night for me today and this Thursday night. Thank you much. So, so much. Thanks, Jason. [1:10:33] JD: Thank you, Jason. [1:10:37] Brandon: Taco Tuesday I got the cheese she tasting the koolaid she going to do what the group take a PR she get the bad but she got to get it 10 ways. Okay, now underlay like she on the Runway it's a payday when she get the mama See the tequila in the Bombay trap Being in the circle. My name Jose It's a long line at the doorway Taco getting with the nacho with a bad vibe and she go both way Turn up the racks of the go face the gang in the real is a four way Tuesday I got the cheese she tasting the Kool Aid she gonna do what the group take a pray Kelly and Tay she get the bad but she gotta [1:11:30] JD: cut off at some point Jason. Usually this shuts off and we chat a little bit more. [1:11:40] Mark: But [1:11:43] Chad: that's not true. We play this whole song to the end. [1:11:47] JD: Yeah. [1:11:47] Chad: After we're all gone, usually you guys bail. [1:11:51] JD: That's right. [1:11:52] Chad: This is the first time you stuck [1:11:53] JD: around because we care more about Jason than we do you. [1:11:59] Mark: True. [1:11:59] Justin: I would thank you, by the way, for allowing me to be.