The 401k Girls

[0:02] JD: Welcome, everybody, to another episode of Retireholics. Let's do something a little different today. Let's validate everyone that is here. Let's just make sure that if you tuned in that you're actually in the right place and you deserve to be here. You must answer yes to one of the following three questions. If you do not, you need to sign off and just leave us. You're not allowed to be here. Okay, first question. If given the choice to get the autograph of Tom Hanks or Fred Reich, you would without hesitation, choose Fred Reich, yes or no? Thank you. Mike Webb, number two. If you needed to waste a little time on your mobile phone, you're just hanging out at the department of motor vehicles and you want to carouse the web, you would choose. Oh, I'll drink for this. You would choose NAPA hyphen net.org vs. TMZ.com I'll drink twice. Jason, you might be in the wrong place, bro. You might have to sign off in a second. And lastly, regardless of whether you are male or female or whatever sexual orientation you have, you agree that Nate Moody's sister is a 10 out of 10. Okay, Justin, take it away, my old friend, and let's have a proper introduction of our guest today. And out there in the. In the audience, if you cannot answer yes, one of those, get the out of here. Go. Or don't. [1:39] Chad: Or don't. No. Maybe not. Just. [1:41] Justin: Yeah, we need all the people watching this we can get. [1:43] Chad: It's a safe space. Yeah. [1:45] Justin: Yep. Well, after their first experience appearance, we knew it was only a matter of time before we were begging for them to join us again. Not only are they phenomenal advisors, but they are also amazing gift givers. We're. We're gonna pivot. Instead of the rapid response question, we're going to honor the Knot sisters by taking a page out of their book and playing some fact or fiction today. Oh, for those of you who do not know, the girls have a segment called Fact or fiction Friday where they send out a poll to their social media followers on common financial misconceptions. And yes, I realize it is Thursday, so let's just call this fact or fiction. [2:19] JD: First days. [2:23] Justin: All right, ladies, these questions are only for you. Respond, battle amongst yourselves, whatever you think it is, but we're going to kick this off with first and foremost, bananas or berries. Fact or fiction? [2:37] Jessica Porter: Fact. [2:40] JD: Hannah's are berries. Oh, [2:44] Justin: Haley, you're muted. [2:47] Haley Porter: Can you hear me? [2:48] Justin: Got you now. [2:48] JD: Yeah. [2:51] Haley Porter: Not a bear. [2:51] Justin: It is fact. [2:53] JD: It's a. Are you kidding? Yeah. [2:55] Justin: Did not know that either. [2:56] JD: Wow. [2:57] Justin: Mark is terrified of cotton balls. Fact or fiction? [3:03] Jessica Porter: Fiction. [3:05] Justin: That is a fact. [3:06] Jessica Porter: Oh, I wanted it to be fiction. [3:10] Justin: You can sneak in your sleep. [3:12] JD: That's not creepy. They're weird. All right. [3:18] Justin: You can sneeze in your sleep. Fact or fiction? [3:22] Haley Porter: Fiction. [3:23] Jessica Porter: Fiction. [3:24] Justin: That is fiction. You'll wake up. JD spent $10,000 on a toilet to wipe his bum. That is fact. [3:33] JD: It's so nice. [3:36] Justin: Even though he's no hesitation, I gotta pick on him. Chad once made a teeter totter out of his truck. [3:47] JD: How do you do that? [3:49] Chad: Yeah. [3:49] JD: Yep. [3:49] Haley Porter: Fact. [3:50] Justin: He did. He was. He thought he could go up over a berm. [3:54] JD: Oh, he got. I thought you meant he was creating something for his children. Okay, go on. Nope. Nope. [4:01] Chad: And then the Missouri teeter totter. [4:05] JD: Yeah. [4:07] Justin: Last but not least, Nate Moody has a hot brother. [4:14] Jessica Porter: Well, he is a hot sister, so I'm gonna say fact. [4:17] Justin: That's fiction. He's only got a hot sister. [4:19] Mark: He's only got. [4:21] Justin: Ladies and gents, back for round two. It's the 401k girls. Lavender color. Jessica and Haley Porter. [4:28] JD: Wow, Justin, I like that little change up you did there. Yeah. Welcome back. Welcome back to the 4 1k girls. You guys said last time you're here, you're only a few months in to the whole 4k girls thing. And now it's been some time. You are known all over the interwebs. And we'll talk more about that in a little bit. I know you've got a few fans in the chat bar for sure. Brandon. Let's get to it. Let's do some headlines. Do you all know. Do you remember when we did a show on stage in Nashville with John Moody? He was the CEO or the president of what was called Edgeco. Oh, Jesus. [5:24] Chad: Okay, I don't have buttons. [5:27] JD: I owe two. I really didn't put these two things together, but the headline that I'd like to talk about is A census is buying. I'm going to call them American Trust for today's show. It's actually American and three initials. John Moody of that company. I just mentioned this. They're the ones that are behind this whole thing selling and they're the ones that created American Trust. If you remember, we were at their big conference and that big, huge screen behind us. Anyways, okay. American Trust is a huge custodian, right? So I don't know if you pay attention to this or people in the chat bar. We always think of. You have your advisor. You potentially have a third party administrator. If you're, if you're going that route you've got a record keeper. You've got these mutual funds or investments and those could be collective investment trusts these days. But somewhere under there is also a custodian. It kind of goes unseen a lot of times but custodian is a big gig. And American Trust was a pretty solid custodian with over 265,000. I think I'm going off the record here. Plans or clients. And so this is a big acquisition by a census. What I'd like to talk to you all about is in the deal they also purchased Pension Pro which had been bought by American Trust. And then Pension Pro for clarity for everyone out there is a client relationship manager software for third party administrators and very popular and, and been doing well for a long time. So they that comes in the deal as well as there's no way around this erisopedia. So that's also in there. And then fiduciary exchange. God damn, I'll drink for no someone rule on that. Okay. Which is these fiduciary services. Okay, so here comes my questions. American Trust is a custodian. They also have are big in the pooled employer plan space and 400k girls. Voya, empower Trans America use American Trust for custodial services in their pooled employer plans. Now their competitor, I would call a census a competitor to them is are they going to continue to do business with them? Is this sketchy in that now a census can like snoop around and, and look at all the clients they have there and let alone the pulled employer plans also all these other plans that people put on that custodian platform a census will now own it. Anyways, thoughts from the four 1k girls on this and do you pay attention to this type of stuff like for your clients? Good to know what's going on the record keeping world [8:28] Jessica Porter: we do, we don't full disclosure have any plans with the census or American Trust. It didn't directly affect us. But I would say if I'm one of the other record keepers, I would not love right. That a census has now purchased them. I mean I'm sure it's a massive undertaking to make a change there but I would not love that especially if there wasn't disclosure. [8:54] JD: I would agree with you. [8:55] Jessica Porter: Yeah. [8:56] Haley Porter: Even if there's opportunity for, for people looking at other people's records then that's going to leave a question in people's minds. [9:04] JD: It gets a little messy Justin. I mean you're on the kind of war Front of this kind of stuff. Have you heard some whispers back and forth rumors, especially on the pooled employer plan side. You would think they'd be wanting to pull Anchorage and move it somewhere else. [9:19] Justin: I mean that was where my brain first went when you, when you mentioned that because they serve as a 316 arm and the independent fiduciary for empowers 316 and Voyas and whatnot. So I was like, what is that going to do? I mean I can't imagine empower and boys gonna, you know, cut bait and get out of that because they're, it's a big part of their, their pooled employer plan. [9:39] JD: But they could find another one. [9:41] Justin: Concerning. I mean you could, but they just built us out not too long ago. [9:45] JD: True. [9:46] Justin: This is the one they were coming to us to because it was an open third party administrator option too. And we're like this is cool. But we couldn't do it because of their doc. But I mean, yeah, they could, they could get the, they could find someone else. But I, with it being so new, I don't see them doing that. [10:00] JD: Let me switch it over to you, Robey. I don't do a lot of work with the census, but I've seen their paperwork before. I know enough about products like that, especially on the open architecture side, which I feel like a census pretty much is these days. So when you're, you're choosing them to be the record keeper, you'll actually get a choice in the paperwork to choose your custodian. Yeah, like will it be Matrix, will it be Schwab, will it be American Trust? And some people are really deep in the weeds, have the choice to make that I'm imagining now that a census will own its own custodian, those relationships might go away. That's also a lot of ripples and waves in terms of partnerships that have lasted decades. [10:49] Chad: The only thing I can think there is what if they leverage it for some sort of product placement discount where they say you have an option to choose just like you do for investments. Right. Like, hey, We've got these 20 different target date funds. But if you choose these five, because they're products of ours, they're proprietary in some regard, you get a 10 basis point discount or something like that. So it could be leveraged in that regard. And again, I'm sure there's legal people, non compete things that are going to be put in place to counterbalance some of this. Right. Like it. I imagine this kind of occurs in other areas that maybe we're not even aware of as well. But we're just seeing this because it's been an acquisition where you're saying a lot is being merged where there's already conflict there. [11:37] JD: So. Well, okay, a couple more things just to wrap this. Don't forget they do private label outsource recordkeeping for lots of other financial firms right at Adasensis and those firms have chosen other custodians. So it's getting a little messy there. But here, let me go on the positive side. A census who by the way is a very big record keeper. Like they're into the hundreds of thousands of clients, maybe 150,000 plus plans or something. Like they're very big, they kind of fly under my radar and that I think that's just my world of the circles I walk in. But they're very big. And so for them now to have their own custodian to me might be like a big boy move here. This might be a big deal for them to compete with some of the bigger firms that might create more profitability for them. And then lastly I'm going to say on that we'll move on. But on the pension pro side and the recipedia side, this could really open them up to third party administration relationships. I could see a lot more third party administrators if, if a census leverages this acquisition properly, they would look to be a more third party administrator friendly type of record. [12:57] Chad: Now do you think this is to going back? Because obviously a census is future plan, right. Where they've got this huge conglomerate of third party administrators already. Are you trying to say they want to have both of those options to have it be in house and also be able to bring in outside parties as well? [13:16] JD: Of course I think they've always, even, even during the feature plan acquisition, which by the way it's everyone that did not go according to plan on lots of levels. So that basically has been a failure in lots of levels. So they may be even pivoting, you know, I'm making up here. But they might even be pivoting to like hey no, let's go more that traditional route of trying to partner with third party administrators. But by the way, you just, you could always work with a census as a third party administrator. You didn't need to be part of future plan anyways. Boring third party administrator stuff for the most part. So I will move on to something I think actually pretty exciting, which is Paylocity as a payroll provider. Now being a record keeper, are they? Paylocity is coming out with their own product it's powered by Vestwell. I know, Mark, you've had some emails back and forth with some wholesalers about things. I want to go to the 401k girls first. Let's just. We'll skip ahead of the details of this one and then I'll come back to it. How do you guys sit? How do you feel about payroll provider record keepers a la Automatic Data Processing paychecks? Are they in your mix of products that you show to your prospective clients or current clients? [14:40] Haley Porter: So I would say not generally, but we do appreciate and understand the. The need for those integrations and. And the desire to have everything bundled all in one place. We actually met with a Paylocity representative this morning and got to hear about a little bit about this. Yeah. [15:01] JD: Okay, well, then let's dig into that then. I've only seen a flyer. You guys are actually going to be the thought leaders on this since you got to actually sit down with someone. I saw a flyer and I read through all the bullet points, and most of the bullet points I read seemed more like what I would call payroll integration. Meaning if you just came out today and said, hey, we're Veswell and we integrate with Paylocity, which they already did, that's what the brochure would look back. But is it not genius? And let's hear from you guys, since you met with them, is it not genius to flip that upside on its head? And maybe even vessel was the motivator of that to say, hey, guys, you can make this your own. You know, we white label this stuff. Why don't you come out with the Paylocity retirement plan and we'll just be underneath the scenes. Powered by Vessel. Tell us your take from meeting with them face to face. [15:53] Jessica Porter: Yeah, so that's exactly the impression that we got. And actually we appreciated because she told us and then she asked, how do you as advisors feel about this relationship? And it. It to us, it is that just payroll integration. It's not the. And I'll call out some names, but it's not the ADP or the paychecks where they have their own. [16:15] JD: Ah, yes, keep going. You can drink later. Finish your. [16:19] Jessica Porter: Okay. Where they have their own advisors that they want to work on the plans, which does cut us out of the deal. Yeah. So, but in this case, it appears from what we've learned that it is just payroll, basically white labeling with best. Well, but there's still advisor relationship that does not get cut out of that at all. So from our perspective, it made sense that, you know, There was no conflict there for us. [16:46] Haley Porter: It seemed like she was being very conscientious, not wanting to cut us out or step on toes. [16:51] JD: Yeah, yeah. [16:52] Chad: I love when I, when I met with the individual from Paylocity out here, he was a little, like, hesitant at first to even say anything because he was worried. You know, he's like, I don't know how this is going to impact things. But then that's why we asked some questions about it. But again, strategically, from Payloss's perspective, just imagine being in that competitive situation where you're trying to move a plan from paychecks and they. They bring up the 401k and you don't have a solution. There they were, they were losing out on deals and business. [17:22] JD: I mean, you did. You did have a solution. No. Okay, but to me, all you did is you had a solution. We know that. [17:31] Chad: We all know the. [17:34] JD: You had one where the Vespa logo was on the top and the Paylocity logo was smaller beneath it, and now you've just reversed it. But I don't know if the products really changed all that. [17:44] Chad: The first. The perception is reality, man. Okay, so the client goes, oh, cool, I can go from A to B and I can still have that same feel. Okay, I'm going to move now. [17:56] JD: Fair enough. Okay, let's dig in the dirty stuff. So they're very friendly to Hayley and Jessica. Paylocity, and I get that saying, hey, we don't want to ruin our advisory relationships. But at the same time, the success that has driven Paychecks and Automatic data processing is that they're huge in the. In the payroll space, and Payloff is pretty damn big in the payroll space. I mean, there are no paychecks, but they're pretty successful company. So you would think what Paychecks and Automatic Data Processing did is they continually drip on all their clients to get them to come to their 401k program. And that's been why those two have led our industry in sales for a frickin decade, really, in terms of new sales each year, because they're constantly reaching out to all those small businesses and, and showing them that they come to them. Do we not think Paylossi would do the same thing? And then how would that look like if a client came directly to Paylocity with no advisor, are they going to be very aggressive to try to place them with them? Did this morning, did they say to Haley and Jessica, oh, hey, we might be able to drop some plans in your lap, put a Pin in that for a second then. Think about this, Justin. For a decade, I don't know. The record keepers, Hancock and Power. The list goes on and on. American Funds have partnered with Paylocity. I'm talking golf tournaments, steak dinners, networking, working together. And now. Now I see them as a direct competitor. [19:32] Justin: You definitely can, but it's not gonna. It's not like their. Their business is all going to go directly through Vestwell by any means. Not every clan sponsor wants to be with them. You know, they want to use the bigger names and the bigger record keepers. [19:42] JD: Right. They're going to talk out of both sides of their mouth. [19:45] Justin: Yeah, for sure. [19:46] Chad: Okay. [19:47] JD: Jessica, Haley, did they promise you any new plans are gonna throw some your way over the next couple years? [19:54] Jessica Porter: They did not. [19:55] Haley Porter: Promises were made. [19:57] Jessica Porter: No, they did not. [20:00] JD: Let's see. [20:01] Chad: I think too now really quick too. You know, in our industry, people love a good press release announcement, whatever. As we can tell, I don't think Paylocity was making this huge splash to be like, we're gonna send out some big fireworks and alarms about us rolling this out. I think they are being very conscientious about their partnerships. And I. I do think that it's. It's a. It's there now again, on the surface, right now, there to solve a problem they're having on their side. But I get it. I get what you're coming from, jd. I can see it coming in a little deeper and having partners being like, whoa, whoa, whoa. Maybe we need to kind of stay back six feet from this for a little bit. [20:42] JD: And you're. You're actually 100% right, because I looked for press releases. No, there's nothing out there. [20:48] Chad: When he told me it was out, I was like, really? He's like, yeah, just kind of under the radar sort of deal. [20:54] JD: Very soft release. Okay, last little headline, and I want to get through this one pretty quickly. The Department of Labor investment selection rule draws nearly 37,000 comments. I was about to say complaints, but they're comments. But you're. Yes, Justin, by the way, go out there, nerdy 400k people. Click your way through. It only takes like 2 or 3 clicks and you can start reading the comments. I did run into something. I don't know if anyone else has done this. I noticed, and shame on me. I thought I was gonna see, like, people popping off, like individuals going like, no, man, I don't like this. Instead, Jessica's shaking her head no. What did we see? Jessica? [21:37] Jessica Porter: All the same thing. Copy paste, copy paste, copy paste. Yeah. [21:41] JD: So someone spat a bunch of people the language. [21:44] Chad: They're a memo that went out and [21:46] JD: people all over the country said, okay, I'll copy paste, put this in there. And at first I was like, what a joke. And then I said, jd, come on, put your big boy hat on. Like, okay, this is the way people kind of vote for what they think is right or wrong. Right. That's my vote. I'm giving you this language that clearly says, I think this is dangerous. I think this is inappropriate. And so now you know, because I'm the superintendent of Southern California, that this is how I feel. But the reality is some big trade organization fed them all that information. But I scrolled as long as I could. I even tried to throw it into quadrant and I tried to ask Claude to kind of read through it all and let me know like what it thought of, like the comments. And it couldn't really get through it all, but it definitely backed me up that it seems like most of it is negative. Most people don't like it. So I guess I'll throw it, I'll throw the question to you just can like, okay, so they get all these negative comments. Is a Ronowitz. Daniel Ronowitz, one time almost guest on this show, the head of the Employee Benefits Security Administration. Are they going to change plans on this if they get 36,000 negative comments? You'd think they would. [22:57] Haley Porter: Yeah. And counting. I will say I didn't see a positive comment and I showed up for the drama and I was pretty disappointed because it was all that same. [23:08] Jessica Porter: I mean you would think that they would. But I think sometimes if they've got their mind made up and they're going to do something, no matter the response, they're going to do it anyway. [23:18] JD: They just want to be able to say they, they, they gave the opportunity people a chance to comment. I'm pretty sure that train has left the station, man. Like, oh yeah, empower. All these big firms are already making big moves with private equity and all this kind of stuff. So I, I mean, I'll stick here for a moment like as financial advisors supporting your clients. What, what will your, your take beyond that's just funds and see how much of it is, is where or I mean, do you have concerns about this, you know, this whole private equity, private credit market kind of coming into our 401k world? [24:01] Jessica Porter: I have opinions on it and I, I don't like it. I think just by nature 401k plans are a bit paternalistic and I think that's Okay. I don't think they should be exciting. I think there's nothing wrong with investing in alternatives with, you know, digital currencies and, you know, all that stuff. But I think if you make it available in somebody's 401k plan and they see that there's crypto available and they put 100 of their retirement money in crypto, that. That to me is not prudent. So as I. I do, I think, you know, go and do that with your own money, but for your retirement money. This should be boring. We should not have anything too exciting in your retirement plan. [24:45] JD: I like that you went to the crypto because I was kind of focusing on just the private equity and the private credit that I think would be sleeves in the target dates and very small sleeves. But you're. You're right, Jessica. It's actually a much bigger issue than that. And so the crypto could be an issue. Haley, what if I was to tell you, like, come on, man, you don't want. You don't want some cool, specialized stuff inside of target dates that might help diversify a little bit or provide a boost? You know, just. We, we use specialty asset classes these days. We've got tech and diversified emerging markets and real estate. Like, why not a little private equity, private credit to sweeten up the pot? [25:26] Haley Porter: Yeah, I think do that in a different type of account. The amount of education it takes to understand those complex vehicles, it's not something that the average participant is being provided in in a four one in a group meeting. So it's not worth the risk with something speculative. [25:46] Jessica Porter: What. I'll add a caveat that I think to your point, JD if it's a piece of an already managed fund, that's a little bit different because it's still. If there's a manager of a target day fund that's adding it in, I think that's different than just having totally an alternative available for a person to put all their money in that kind [26:09] JD: of core menu, like on a core menu. And don't forget, you guys could be the guardians of that. Like, you're going to help your clients kind of pick and curate a core menu. And so obviously you wouldn't do that. I do have to say, if someone in the chat bar can challenge me, I really do think, Jessica, that 99% of this is going to be how you just described it. It's going to be a small sleeves inside of manage accounts or target date funds. These are not going to be options on a core menu for participants. But we'll leave this unless anyone has a final opinion on this. The big naysayers, and a lot of them are very smart industry Veterans in our 401k space are saying that that market, private credit, private equity, is struggling to find new cash. And they're looking, it's kind of like a Ponzi scheme in that way. And they're looking at 401k as a brand new place, a brand new sandbox to go play to get a bunch of money. And they're kind of saying we need to be very careful about just letting them in because they're thirsty right now, man. Like they want this and we're, we're trying to make it seem right. So we will see. [27:23] Chad: Thirsty. [27:26] JD: Bless. Spin the wheel of ice. Let's go for it. Yeah, I got one. [27:30] Chad: Also, JD you never did explain any of the game or anything. I don't know what's going on. [27:41] JD: Weren't you supposed to do. [27:42] Justin: I was asking you guys in the chat, like, hey, how do we do? I couldn't get the votes to work. [27:47] JD: Here's what we're gonna do. We're gonna do a 30 minute chat bar champion challenge. So, yeah, I mean, usually we would do it at the end of the show, so why not? So for the second half of this show, we're going to play the new version of Chat Bar Champion. And if I remember how this works, you simply put the person. So you and the chat bar get to vote for who's going to be chat bar champion tonight. You do this by in the chat bar putting that person's name, I. E. Oh, shit. I'll drink for that. Mike Webb, space. Dbc. I'll drink for that too. Is that right, Brandon? A person's name space. No, no, no. Okay, you explain it. [28:34] Haley Porter: You're muted. [28:35] Chad: You're muted. [28:43] JD: Silence. [28:44] Mark: I took off my mic. [28:45] JD: Is it. You're good. You're good. Sound great. [28:48] Mark: You just type CBC their name. But if, if there's two gyms, you want to use their whole name. But if there's only one gym, you can just say CBC Gym and I'll go to gym. [28:59] Chad: Is there a space though? No space. [29:02] Mark: CBC Space, their name. [29:03] JD: Yeah. [29:04] Chad: You owe like three drinks now, Brandon. Fy. [29:07] JD: Oh, I do too there. Okay. Okay. [29:10] Mark: They're not on the board. [29:12] JD: And the, the votes will be tallied there. You can see it right behind Robey. [29:16] Justin: There's normally panelists, if we use any acronym in the chat, we get rung up. It does not count for this. [29:22] JD: Agreed? Agreed. [29:23] Chad: Yes. Agreed. Agreed. Oh. [29:25] JD: Oh. What? Okay, you can vote. You guys are gonna vote? [29:29] Justin: Yeah, we can vote, too. [29:31] Haley Porter: Fair enough. [29:31] JD: Yeah, Understood. Wow, the confusion of rules. Got it. Got it. Let's. Let's lighten the mood, shall we? Let's. Let's play a little bit. We call fin talk. Brandon, we've got a couple loaded up. I think. Budgeting. Okay, let's try it out. [29:57] Jessica Porter: Stop turning the heat back up. You have 15 sweaters. I know you guys like organic, but you'll survive. [30:02] JD: Hi. [30:02] Jessica Porter: I saw my bill went up, and I would like a new promotional period. Or I will use your competitor, save electricity. Can I get an order of the sesame chicken? Not the combo, just the sesame chicken. I'm loud budgeting. Well, I've been trying this thing called loud budgeting, and it's working really well so far. [30:23] JD: I'm gonna leave this to you guys. Loud budgeting. This has a. Been a trend for a couple years. Tell us all about it, foreign gay girls. [30:35] Haley Porter: So it's basically the concept of being transparent with your budgeting and your money goals. So the concept of, oh, I've been doing this. [30:44] JD: I've been doing. Haley. I've been doing this for the last 10 years. I tell everyone about my goals to buy Lambo and. And extremely loud. And the fact how I love money. And I bought a $12,000 bidet. [30:56] Justin: I. [30:57] JD: So I've been doing this. Or am I getting it wrong? [31:01] Haley Porter: Maybe a tweak or two. [31:02] JD: Maybe I'm off. Am I off on the. [31:04] Chad: You're so nice, Hayley. [31:07] JD: No. Haley, isn't this about, like, not to get deep? But we've. As humans, we're always so embarrassed to talk about our own finances, right? Like, even meeting with a financial advisor can seem so intimidating because eventually that financial advisor needs to know, like, how much debt you have and whether you're, you know, what your mortgage or your rent's costing you and what your credit cards look like. And all this seems to be really embarrassing to people, and that's got to be a huge headwind for them to, like, make good decisions and so to be proud of it. Is that what this is about? Like, being proud of budgeting and proud [31:44] Haley Porter: of it and go against the taboo nature of it. If you're just talking openly with your friends and family, then with. We can all be open about it and share knowledge. And that reduces the barrier to financial education, too. [32:00] JD: Jessica, is it also kind of a counter to. Because it's popular on social media and what do we know about social media? It's guys like Me, right? Check out my new lime green Lamborghini, man. Check out this trip I'm on. And so people are continually just, you know, hit with that stuff. And this is a kind of fight back against it a little bit. [32:21] Jessica Porter: Yeah, I think. I mean, we know a lot of times the social media is the highlight reel of our lives, right? It's the good stuff that happens. And, I mean, I agree with Haley. We talk about this a lot. That I think if you're putting this out there, it makes it more normal. Like, budgeting is okay. You know, it's okay to say, no, I don't want to pay for this thing. It's. And, you know, I think that's why, like, I'm always super honest about all the dumb shit I did when I was young and the credit card debt and bad decisions I made. And, you know, because if you're not embarrassed about it, then other people will say, oh, okay, it's okay to talk about this. I can't fix it until I actually recognize it. [32:58] Chad: Is that. You guys do that, like, best purchase, worst purchase thing, right? Is that. [33:05] Jessica Porter: Yeah. [33:05] Chad: Venn diagrams with this. Okay. [33:08] Jessica Porter: Yep. [33:09] Chad: All right. [33:09] Haley Porter: That's the worst. [33:11] JD: Very cool. [33:12] Haley Porter: Social media is like the highlight reel, like Jessica said, but it's like pressuring people to go out and buy things that they can't necessarily afford. So. So to say no, I had this boundary set, and I'm going to stick to it, and then we can all help each other stick to those goals. [33:27] JD: I almost played this Saturday Night Live bit where. God, who was it? I forget who the actors were, but they were. Hey, I'm your new financial advisor. I've got a new financial advisor philosophy for all of my clients. If you can't afford it, don't fucking buy it. [33:46] Justin: It's pretty fun. [33:47] JD: And they were like. They were like, wait, what does that mean? [33:50] Haley Porter: I love [33:53] Justin: Caleb on social media, who just. He has his own kind of podcast, and people come on there for help with finances, and he just shits all over them. [34:01] JD: Well, wasn't that even Dave Ramsey's bit for the longest time is like, okay. I feel like people would go on and he'd be like, you don't. You can't afford that car. Like, get rid of it. You know, you should be in a Toyota Corolla, bro. And he'd just bring him down to reality and help them cut their credit cards and stuff. So. And I like that, by the way. I'm kidding. I mean, I'm sort of kidding, but I'm not. I really do love my $12,000 bidet. But. But I do understand that, like, that's cool to be like, hey, man, this is how much I make. This is how much I want to save. This is where I'm at in life. And so I want to be proud that maybe it's as simple as. Maybe this is a. What's the trend called? What? Budgeting. Loud, Loud budgeting. Like you showing like, hey, I'm making coffee at home today. I'm not going to Starbucks, so rock on. I dig that. Okay, Brent, let's play the next one. Slob, slob, slob, slob, slob, slob, slob, slob, slobbery slob, slob, slob, slob, slob, slob, slob, slob, slob, slob, slob, slob, slob, slob, slob, slob, slob, slob slap. Jessica Haley. I mean, I don't think this is really an attack on Charles Rob, just financial adviser in general. Going to talk a bit about foreign K girls. So what does this mean to you? This, this. Tick tock. What is he trying to say to the general public? [35:46] Haley Porter: That they can say things and you don't have to understand it, but they still want to manage your money. [35:53] JD: Yeah, they speak in another language and [35:55] Haley Porter: they're in another language. Yeah, yeah. [36:02] JD: I mean, it's not just the other language. [36:05] Chad: The way I sort of interpreted that was whoever the advisor works for, whatever company, they just harp on that and that's like, it's not me, fair enough kind of thing, you know, like they're. They're the best one. [36:18] JD: This is a proprietary post for you. [36:22] Jessica Porter: That's what I got from it too. Yeah. [36:24] JD: Okay. Okay. Well, let's stop for a moment and tell everyone a little bit about foreign K girls in the sense that I'm imagining. I don't want to put words in your mouth, but part of your attractiveness, why people are into what you're doing is because you're not going to speak like typical financial advisor. You're going to try to talk to people on their own level, be more approachable. Because that's my takeaway from this is like people are so intimidated by these smug people in ties that fucking, you know, say words that we don't understand. And I'm imagining 400k girls is all about the anti of that. But maybe I'm wrong. You tell me. [37:02] Jessica Porter: Nope, you're 100% correct. And we're glad that's your takeaway because that's exactly what we're looking for. That's our goal, I think. I mean, look at that video of that guy. We don't look like the typical financial advisor. And part of that was the impetus for the 401k girls, is that we're different. That's what people are looking for. And, yeah, we're not talking at you and using language so intimidating and different that you just are going to do it because it feels like the right thing to do. This shouldn't be that hard. It shouldn't be that scary and that confusing. [37:36] JD: I noticed when you guys go to, like, conferences and stuff, like, whether it's human resources or some local group or association, you're not going under the flag of your financial firm. You're going under the flag of 401k girls. You've got your own table skirts, your own backdrops, your own, obviously, merch and things. So, again, here I am leading the witness. But I have to think that people come up to you a lot more and want to engage than a Charles Schwab, you know, booth or table. Am I wrong, or is it happen? Do you notice it happening a lot where they come to you with a different attitude? [38:16] Jessica Porter: I. I think the answer is yes. So, actually, kind of a funny anecdote. I know that what you're talking about went to a women's wellness fair as 401k girls, and we actually had somebody come up and ask if we were runners. And I couldn't, like, marathon. [38:35] JD: That'd be a classic run. [38:36] Chad: That's a long, long run. [38:38] Jessica Porter: No, that's what I said. Yeah. So we do have to be careful of that. Apparently, not everybody knows what a 401k. [38:47] JD: I wouldn't change the branding. [38:49] Chad: Yeah, that's actually. [38:51] JD: That's pretty surprising. [38:52] Chad: I'm not gonna lie. [38:53] JD: That's got to be 1 out of 10. But by the way, there are. There are a million jokes like that on Tik Tok that are. I'm sure I wanted to sign up for my 4.1k, but I was like, oh, that's way too long. [39:03] Chad: Yeah. I was like, are you sure that wasn't just a dumb dad joke just to try to talk to you? [39:07] JD: Okay. [39:08] Jessica Porter: It was not. [39:11] Haley Porter: I think she was from another country, to be fair, but I'm sure that's [39:15] JD: got to be less than 5%. I think we talked about this last time you guys were on. I mean, obviously, retire Hol kind of was born in the same vibe, you know, to be kind of easier to relate to and everything. But we're not out there talking to participants, so I Think it'd be great for the chat bar to really hear, like, in the last year, like, what the engagement's been like. Like, because you're also doing education meetings for your clients. Right. And I'm imagining you're still kind of repping that brand. Right, to soften the mood. Yeah. Okay, good. And so this might be a good lesson learned for all of us. It's like, hey, man. To, you know, come in there instead of being plan design consultants in a suit and tie and do a PowerPoint. You know, maybe there, maybe it makes a lot of sense to learn little tidbits from what you guys have done, which is completely rebrand the whole kind of thing. It's one market. Let us know if it has or hasn't. [40:12] Haley Porter: I think that. Well, first of all, our firm, our umbrella firm, is very supportive of what we're doing, so they're completely okay with us being out there under this new name. And we've taken that opportunity to revamp our employee education, like presentations and how we're approaching that. And then obviously, we direct people to our social media for the ongoing tips too, because we're their advisors throughout the year, but they're not going to be getting that information if they're not reaching out to us. So. So little drip campaign happening out there, but people are really liking it. And we've gotten some people that have reached out for help with this, that or the other thing, and it's going really well. We're very pleased. [41:00] Jessica Porter: I think this can be a very intimidating space. I think you mentioned earlier, like, people are embarrassed to talk about financial things because they're worried about being judged. And I think when you can put yourself out there as just a human being, we're also just people who do dumb things and make fun of ourselves and make stupid reels and, like, it just becomes a lot more relatable for somebody to go, oh, okay, I can ask them a question and not feel stupid about it. Like, we just want to put ourselves out there as real people. [41:29] JD: So. Because a suit and tie with a clicker to a PowerPoint is not a real person, really. Especially if they're, you know, choosing their words carefully and kind of running through the whole thing. I mean, this would be a weird analogy because I've talked about this on the show before, but I definitely started my career in suits and ties and cufflinks and shiny shoes and the whole nine. And I did a lot of education meetings at plan sponsors, break rooms and lunchrooms, etc, and there was somewhere in my career where my hair grew out, my beard grew out. I went to jeans and kind of a quarter zip just to give the conservative people in the chat bar, like, are listening in, like, an understanding of like, you know, I still had a quarter zip on, but I had this beard in this long hair. And I kind of got a little loose with my language on the PowerPoints. And I really felt like I was resonating more with the audience than in my old cufflinks days. And I'm sure there's so many people doing that across the country, but if you're not, and I'm mostly talking to you people in New York and Boston and Chicago and all those places, like, you need to lose, that's a little more. You ever go to New York and Boston, they're still stuck 20 years ago. They're so proper. [42:48] Justin: That was a weird transition for me coming on board with PDC because I came from that world. Right. I wasn't sure how it was going to. To translate, but the more we did it and the more I watched you do it, it was just so much more authenticity to it. And people responded very well to it. But it was definitely uncomfortable at first. [43:04] JD: It wasn't that long ago where suits and ties were the way to go, you know. And then for women, I guess it was just super fancy. But you guys, you still get to kind of rock it out with your stuff. See, you have an advantage. We're going to talk about women versus men a little bit later. Like, we. You guys still get to kind of rock it out. Okay, Brandon, last, Last Spin talk was. Hit it. No, this is a little niche. It says Claude. This is the AI from Anthropic. Should we stop here for the night? That's Conor McGregor said, you know, Brandon, maybe you want to come in on this. This is a moment that Ro guys confused everyone. [43:49] Justin: Like trading. [43:51] JD: No, no, no. We like to learn things on this show. If you haven't heard, Vibe coding is taking off everywhere, all across the country. Anthropic and Claude specifically have really led this, this trend. And I can tell you for myself personally, aside from my artificial intelligence company, just as a normal surfer Joe, who's gone on Claude in the weekend and built my own software, the very software I built Hayley and Jessica to track Justin, Mark, Chad, Devin, Tristan, my sales team, I built a dashboard through Claude by Vibe coding. Brandon, my brother, who has always been our Internet technology guy for the last 25 plus years, he now has finally caught the bug. And what that, what that meme was, what that FinTalk was is like when you get into it, Brandon, it's hard to put it down right till four [44:55] Mark: in the morning, just going, and Claude's telling you to stop. And then, then you wake up at nine and go, yeah, I'll go, I'll go code some more. [45:03] Justin: And it's like the idiots out there, like me. Can you just give a quick blurb on what vibe coding is? I just researched it, but I was [45:11] JD: like, you don't need to know Python. You don't need to know any of the code. You're just telling the artificial intelligence. I will need to build this with these specifics. You can get as specific as you want or as non specific as you want. It'll pump something out, it'll write the code for you and then see its finished results. And there's lots of different ways you can do this, but then you can kind of test it and run it and be like, no, Claude, change this, change that. There's an error over here, it'll fix it for you. Is that a fair description, Brandon? [45:42] Mark: Like, yeah, Same way of like trying to get it to make a video for you. You know, you just go, oh, no, [45:47] Justin: I don't want there JD or anything else you like to use. [45:51] JD: Yeah, no, bro, that's really where I wanted everyone to listen in. And maybe Jessica and Haley can. I don't know if you guys are using this at all. I guess I should ask you here in a second. But as a business owner, if I wanted to create something, Chad and I had this great idea. We're going to create the Domino's Pizza app for our retirement plan clients where you would know where you were in your administrative, like, timeline. So census and testing done, and they could go to their dashboard and they can see it. And we're like, this is awesome. We whiteboarded it. We're like, we're going to do this. And I went and researched who could build it for me and how much it would cost. And it was going to be six figures, plus it was going to take two 12 months of, you know, working overseas to get this thing coded. And I was a small business, I just didn't have the bandwidth to do that. I'm like, I got to kick out. So I couldn't do something that I really wanted to do. I'm here to tell you right now, today, if any of you want to pick it up and just check it out and play around a little bit, you can build what you want to build with Claude's help. And if it Seems intimidating. Like Justin saying please don't. Right. Am I wrong? Brandon? Like any newbie can get in there and build something and something of value that actually connects to your data sources. And I mean it's just the world has changed everybody. [47:14] Mark: There's a learning curve and you have to read a little bit as you're going along, but it'll walk you through everything and it's. [47:22] JD: Yeah, I would argue, well, this is [47:25] Mark: why all your software service companies are. Their stocks are falling apart because everyone's realizing you just build your own stuff. [47:33] JD: So yeah, if you've heard of SAS Apocalypse, which I'll drink, that's because they're really worried about these companies not having value in the future. Haley, Jessica, two part question to the foreign K girls. One is like, are you using artificial intelligence? But, but two is, I mean if you just think about what you do in your day to day and your work, anything that seems tedious, repetitive and it's. Especially if it's tied to some type of data source or what have you. I mean I'm just encouraging you like you should check this shit out. Give us, give us a temperature gauge on the 4K girls and AI. [48:11] Haley Porter: Yeah, right now we're just using, we're using it mostly for note taking and creative sounding board basically. But we do know that that's like barely scratching the surface of what's capable out there. [48:28] Jessica Porter: I'll spoil a little bit of our social media secret. I'm older than Haley, but as an elder millennial, I am not digitally native in social media and it's really hard. So chat gives me some really good ideas and the logistics on how to actually make something and that's been super helpful for the 401 girls. [48:50] JD: That's great. So I would like to put you in the same seat as like a lot of people listening in, which is that's step one. You're basically chatting with it right Then it's giving you an answer. The next step, is it actually doing something for you or building something that is no longer a dream, that is no longer the future? You can do it with a regular cloud account and it can basically code is what it's doing to build something for you. Code is the. It's the two by fours and the cement foundation and the whatever and so if you just think of software or dashboards or tools of any kind, like you can build your own. I sound like an idiot. But anyways, I want. Pay attention people, please. If anything like go check it out a little bit. Okay, let's Move on. That's our final fin talk. I listened to you guys on the 401k specialist podcast and you said something very sexist. I was super offended and I thought we needed to deal with it on this show right now. You said 94% of women prefer to work with women advisors. How dare you. What about us males out here? And what about us white males? And as white males in the 50s, man, you cannot steal this from us. This is our industry. How dare you. No, give me. Give me some context. Are we all screwed? You guys are half the population. If you're gonna take 94 of them, we're done. You guys are taking market share left and right. No, give us some context on this because it makes a lot of sense to me. [50:33] Haley Porter: Yeah, so that is. That is the stat. It's 94. And I think that women just want to feel like they want. Are talking to somebody who understands what they're going through and maybe the larger context and the picture of their career and their retirement savings capability. And if not, like, directly understanding what they're going through, then we have a sister or a mom who's gone through that and we can empathize with those people. [51:03] JD: I thought you were just saying that women were more trustworthy than men. That's what I thought you were saying. No, it's true. Just because. [51:11] Haley Porter: Isn't it? [51:12] JD: Isn't it. Isn't it kind of sort of true? I mean, yeah, I was thinking that a long time ago when, when women were first starting to get in the business. Because it's. It's changed a lot. I would say in the last 15 years. If you go back 15 years ago is. It was pretty different. Like, if you went to a conference, it was odd to see a handful of women. Right. And I feel like that's changed quite a bit. Obviously, probably still a lot to go, but I used to say to a woman advisor, like, are you kidding me? Like, you could probably crush it. I feel like man or men are so like, distrustworthy and, and potentially out to make a buck or whatever. Like, I don't know. And now I'm being super sexist. But, yeah, so are you. So now let's hear it from you guys. The business, you know, the, the entrepreneurs, the advisors that are working to build your business. Is this something you focus on? Do you. Do you look for the women and then is it resonating? Are you feeling like you walk into those rooms and like, yeah, like, I want to work with you guys because you're like me. [52:16] Jessica Porter: So I would say we're not specifically, like, saying we only work with women, but I do think the fact that we are both women speaks to women more. We actually met, had a meeting with somebody today that reached out to us via Instagram to connect and wanted to meet and is looking for a financial advisor, which was very exciting. [52:36] JD: And. [52:37] Jessica Porter: And she said one of her criteria in looking for an advisor was she specifically wanted to work with a woman. [52:42] JD: Fair enough. [52:43] Jessica Porter: Yeah. So I think, you know, that's not to say that all women are going to specifically want to work with women, but I think if you have a firm and you don't have that representation, you're leaving a lot of business on the table. [52:56] JD: That's a good point. That's a good point. Like, firms themselves need to diversify to be able to deal with that. Yeah, I don't know. I just feel like it makes sense. On the podcast, you guys talk about how women kind of go through different, like, a different path in life. A lot of times they take breaks from work because potentially they're having kids. That's very true and very relevant. So then they have to come back afterwards. And I would argue that, you know, maybe I'm just a stereotypical male. God, J.D. you son of a bitch. But my entire, you know, 20 plus years married to my wife, like, does my wife pick up a lot of the slack when it comes to kids and, and grocery shopping? Oh, that's sexist. And all this stuff. Well, she does. And so. No. And so my point is, is that the, the woman has a different life. They have to path they have to face. And if you tie in their finances, that's relevant, you know, to be like, hey, we understand. We're with you. Whatever. [53:54] Chad: What I. What I hear from that. And again, and J.D. you're in the same boat here. [53:59] JD: Can I redeem myself? And then you go, just like Mike Webb. Mike. Also, my wife does all my finances. I don't. I don't. So there you go. Go ahead. [54:07] Chad: So be being a girl, dad. And, you know, you never know what path in life they're going to take. I don't want her to do what I do because then she'd be a train wreck like me. But I think seeing, like, girls look out to the world to determine what other cool gals are doing, right? Like, what are women doing in power? What are they doing that's fun in the. The world that gives back to others. So I would say, again, I don't know what you all are doing in terms of maybe Trying to get other girls at a young age into the financial services component. But I think just the fact that you're so active on social and doing what you're doing, I think that there's a huge inspirational part that is going to lead other people without you even. Even realizing it, and into this space. So I commend you for that. And I. I told my daughter she was doing some schoolwork. I said, I want you to sit in my chair at the beginning of the show and say hi and stuff. And she's like, I can't. I got this stuff to get done. I go practice. Anyway, she wasn't trying to, like, say no, she can't do it. But even like that, I know she sees the mug. She's like, ask me questions and stuff. And I'm like, it's really cool. And I think that you guys are leading a good charge to get people more involved, especially as the. The. The female demographic needs to be more involved based on your statistic. [55:25] Justin: Yeah, I mean, we don't. Obviously, men don't fully understand. I shouldn't say fully. They don't grasp everything that women go through. And so going back to what we were talking about earlier in the. What was it? Loud budgeting. People naturally want to work with people they're comfortable with that understand their situations, and that's only going to bring, you know, expand your reach, especially to a lot more people so they can be a lot more, you know, financially secure because. [55:49] Chad: Is it going to be weird? [55:51] Justin: Nobody wants that. What's that? [55:53] Chad: Is it gonna be weird when I start loud budgeting in the middle of a grocery store, telling everybody exactly what kind of beer I'm getting because it's on sale, [56:03] JD: because it's 12.99. [56:05] Chad: That's what I'm gonna do. [56:07] JD: Are you ready for me to get super sexist? I'm gonna really regret trying to get [56:11] Justin: away from this sexist. [56:12] JD: I know, I know, but it. No, the people want to hear the real. They want to hear the real Justin selling 401k plans. Who do you sell to? A lot of times, if you're smart on these bigger plans, you're selling the payroll and the HR team. And I'm just stating what's true based on all my clients. I'll drink for that. The payroll and the human resources team is predominantly female these days. I mean, that's what I see at my clients. I didn't create that sexism at their businesses, they did. But it exists. It's there. And those are the people in My opinion that are making decisions about 401k plans, whether you realize it or not. And so I would argue that's a massive advantage if the 94% is true. You can win a lot of foreign K plans that way. [56:58] Jessica Porter: I'm gonna add in maybe something slightly controversial as well. And this is also from the perspective of working in the financial services industry for seven years. But a lot of times as a woman, when you're working and selling to a man, that can also work pretty well too. [57:18] JD: How dare you? We don't talk about the truth. We don't talk about the truth on this show. [57:26] Chad: Please expand upon what you mean by that. [57:29] JD: Wait, before she does, I just want to let everyone know I'm completely firing my sales team, all five of them, and we're gonna reboot. We're gonna reboot. No surprise. I know for a while if I was seriously responding to that, I would [57:46] Haley Porter: say [57:48] JD: shame on our world for that. Like, that's sucks. Like, I would really hope that you'd go in there and be like, I want to pick the person that's best at this regardless. But hey, I said truths about HR and payroll, and Jessica said truce about the world, so. [58:07] Jessica Porter: Well, I mean, the thing is, I. I got hired at my last job not because of my credentials at all. And you know what? If they're dumb enough to hire me for that, that's on them. I'm still going to kick ass. But if, you know, I can. I know what I'm doing. I'm good at it. But if you want to hire me for other reasons, be dumb. That's not my. [58:28] JD: Well, they're end up not being dumb if you actually pull it off when you're good. Can I ask you guys to kind of finish off? Plain Design Consultants has been on a big push this year for sales. I mean, I would say, like, every year we're in a big push, but. Justin, Mark, is it fair to say, like, this year we've really tried to, like, pull our bootstraps up and kick some ass and. And go for it? In terms of sales, this show is generally built for financial advisors. And so when we get other financial advisors on, I want to, like, get a little peek in the side to your. Your world of what you do. Do you guys have goals as a team for the year? And by the way, I don't even know you're selling 401k plans. Are you also selling financial planning to the participants of these? You are of these 400k plans. Okay. Do you set goals for 2025, 2026, 2027. In terms of revenue, new plans. And what does that look like for you? How do you track them and how do you achieve them if. If you do. [59:29] Jessica Porter: Yeah. So we have a whole team, and we do the individual wealth management. We do the financial planning. 401k, actually, for us, is a great prospecting tool because we do all the other things as well. But Haley and I will set each year. Her and I manage the department. So we'll set our goals for new plans for the year, and then as a whole team, as a management team, we'll set our, like, new AUM goals for the year. So we don't. [59:55] JD: Oh, I did. [59:58] Jessica Porter: Assets under management goal. [1:00:01] JD: And when you do that in, like, November, December, or some other month, like. [1:00:05] Jessica Porter: Yeah, yeah, we'll normally get together in December and. And sort of based on what we've done and what we're, you know, looking at moving forward, what our goals are for the year, and we share that with the whole team. Everybody knows what our goals are. We're all participating in it because every single person here is contributing to those goals, too. [1:00:23] JD: And are you of a growth mindset? Like, are you guys grow, grow, grow? Is. Or is there a number you're hoping to get to and then stop? Or will you add people like grow, grow, grow? [1:00:35] Jessica Porter: Yeah. Our senior partner started the business with. With succession in mind, with the idea that he doesn't want to get to a certain point and sell. So I'm part of the succession. Haley will be a part of the succession. The idea is, as we get older and roll off, we've got new, younger people to come in and take over. [1:00:52] JD: He doesn't want to sell. So the answer to not selling, selling is keep making this company bigger and better. [1:00:59] Jessica Porter: Yes, yes. And bringing on new partners that are now buying from him and taking over. [1:01:03] JD: Oh, okay. [1:01:04] Haley Porter: Next generation. [1:01:05] Jessica Porter: Yep. [1:01:06] JD: All right, I gotta figure this all out. How am I getting out of this, Mark? Justin, who am I selling to? And when. When are you guys leaving? Losing your jobs? Like, this has gotta happen at some point, doesn't it? [1:01:17] Justin: 20, 27. [1:01:19] JD: Ah, yeah. [1:01:20] Chad: I don't know, man. [1:01:21] Justin: How many more companies are you gonna create to. To, you know, just package with that value? [1:01:25] JD: That's. So that's how I have. It's not the package, Justin. That's. So I have other recurring revenue once I sell off this one. And. And you guys just get a lot [1:01:35] Justin: of EBITDA for all three companies at once. [1:01:36] JD: You guys are safe. You guys are so safe. I Hired my goddamn son. So my 22 year old son is the internal sales for these guys. And so I'm. Now there's no exit plan for me. [1:01:48] Justin: This is my formal resignation letter for when he becomes my boss. [1:01:52] JD: That's not. That's. I'm Mark. What's my succession plan now? I need Jessica and Haley's help. I. I brought on third generation my son. I can't sell for tens of millions of dollars. I'm screwed. Okay, let's move on. How is our chapter champion going? Because I believe the end is going to happen in 5, 4, 3, 2, 1. That's our leaderboard. Is Heckler. [1:02:23] Justin: I can't see him now. [1:02:25] JD: Kevin won again. I noticed a trend and this. This game is gonna have to evolve. And Brandon, if you're listening, I'm sure you are, I see people doing multiple votes for someone in one post, which is great. [1:02:37] Justin: Webby. [1:02:38] JD: I. I feel like what they're trying [1:02:39] Chad: to say is Webby's abusing it, man. [1:02:42] JD: No, no. I don't know if that's abuse. It's. You're not saying I want to give them one. You're saying I want to give them five or six because they made some great comment. So we'll talk about it on the next show to kind of clarify. But I like this. This is live. Haley, Jessica, we used to. We get to the end, we'd vote. We pick someone. I really want to make them be able to vote for themselves in the sense and pick their own winner from amongst the fucking tribe. You know, what was that book where all the kids are on the island and they're fighting each other and Lord of the flies. Yeah. Yeah. I feel like the chat bar is Lord of the flies and I want them to kind of figure out, is [1:03:21] Chad: there a way to. To take a vote back? Like, can you do a minus? [1:03:25] JD: Oh, that'd be good. Great, Great feedback, Mark. [1:03:28] Mark: I. I do have that ability. It's turned off right now, but yeah, [1:03:33] Chad: I would like that. I would like to at the other show just start giving everybody minuses. Yeah. [1:03:38] Mark: Actually as a. Oh, I can set it up. So just. You can do it, Mark. [1:03:42] JD: You want that? Wow, perfect. So Kevin is chat park champion for three times. Two times in a row. Is it three time. I mean, for the new. For the new system. Okay. For the new system. He's back to back, which is huge. Everyone, public service announcement. Retireholics.com has a new website and if you go there, oh, fuck, I didn't do drunk stock tips. And if you Go there. You can see a a chat bar champion leaderboard which will be evolved and improving but it's there right now from last time show. You can also see in a historic account of rogue guys drunk stop tips. You can also now. You can also now search every single one of our shows. I think it's 250 plus. And you can search by guest and topic and what have you. And if you go, if you click a little further, you can actually look at the guests and click on them and that will be evolving. But please go and check that out. June 2 is the second of five in a a to Z series on how to prospect, sell, Service and retain 401k plans. Think of it as like a how to course for newbie advisors that we're building. And the first one of five was done earlier this week by rogue guy himself on how to prepare for a sales meeting. And Justin will be doing one on June 2nd and that is Justin, what the is your title? What are you doing? [1:05:31] Justin: So without sounding salesy. [1:05:33] Chad: Something like that. [1:05:34] JD: Okay, you're in the sales. You're in the actual. No, no. You're in the actual sales part of it. [1:05:41] Justin: Don't be that person. Be the opposite. [1:05:43] Chad: There. [1:05:43] JD: Done. Yeah. Yeah. How to be a car shield and sell and you can't white dude. [1:05:48] Chad: What is too daughter. [1:05:51] JD: Yeah, you should put on a wig and a dress. No, you should go to plandesign.com 401k hyphen exp for expedition. I don't know why I created that URL I'll drink could be better. I think Brandon created a different one that's better. But you know the drill. Thank you Brandon for putting it up there. Plans.com41k/or hyphen exp we have so many of you. My God. Tune in from the first five part series. So this is the second five part series. And again this is really a how to on selling 4.1k and next guest. Next episode will be on June 4th at 4:30 Pacific. We're having a new guest that we never had ever in the last 10 years. Spencer X. Smith. Do you know this dude? He's the founder of Amplify Digital. And Nevin Adams is like a fanboy of this guy. He has spoken at Napa. I say that because I want to take a swig from this whistle pig 10 Haley. That was another like call out to my wealth. So when I when I talk about the $12,000 per day I was referencing how expensive. You know, I was doing the opposite of the whole Budgeting thing we were doing before. What? Loud budgeting? Yeah, yeah, that was loud. But hold on, wait, what? 4. [1:07:23] Chad: You're giving all this shameless plug here. Like, can you let the guest plug for. [1:07:29] JD: Oh, good call, good call. We'll close it out. [1:07:32] Chad: Websites, anything, like any news you want to share that people can go see, because that's what's more most important about this. [1:07:41] Haley Porter: We are on LinkedIn and Instagram at the 401k girls. [1:07:45] JD: Why are you guys talking on Tik Tok? Why not Tik Tok plans? We're not allowed to be broker. Dealer says can people buy mugs? [1:07:57] Jessica Porter: They cannot buy mugs. But we are happy to send somebody a mug if they would like one. Just tell us. [1:08:02] Chad: You need to monetize this. Okay. [1:08:04] JD: How about hoodies? How about hoodies? I want a hoodie. I want a hoodie. [1:08:08] Chad: Right? [1:08:08] JD: I want. Like, we've had. [1:08:09] Jessica Porter: We've had beanie requests too, right? [1:08:14] Haley Porter: I would recommend Follow us in both places because the content. I saw. I saw you. The content is very different. And we have a little more fun on Instagram, to be honest. [1:08:25] Jessica Porter: Yeah, follow us on LinkedIn. Come on. Instagram. It's a lot more fun over there. [1:08:28] JD: Oh, my God. You should have seen the retireholics Instagram stories back in the day. Live, live Road guy, drunk as a motherfucker at industry conferences. Oh, my God. My favorite. [1:08:44] Chad: My wife didn't appreciate those very much. [1:08:47] JD: I'm going to leave everyone my favorite Instagram story of all time. But before I do that, I want to thank Jessica and Haley for coming back once again. I'm also going to jump on Rogue Guys bandwagon and thank you for. Yeah, you're doing all this to like, generate new business and. And it's very creative and great and cool. But I really liked what you said, Mark, in terms of you're inspiring other young women to do, which I think is really cool in the financial services space. You're definitely elevating women in financial services, period, which is obviously good. But beyond all this, because I really don't see sex. I see us very evenly. That's how I am. This kind of guy. I am. I just want to say you guys are crushing it as 401k, 400k advisors, period. And God bless you and keep crushing it. And we're fans of you and we'll continue to promote what you're doing. And I can't wait to watch it evolve and kind of grow a bit. So thank you for being here. Thank you to the audience for being here. Those of you who answered at least one of those questions correctly to stay here, we love you. Thanks for being here. We'll see you next time. And thank you to Mark, Justin, and Chad. There's Chad in the. In the little window there. What just happened to me? Justin, my camera. Shut up before Brandon plays the song. Delete us out. My favorite Instagram story of all time. About nine, eight, nine years ago, I think Instagram was fairly new, or kind of new. And Chad, Nerdy Chad. That guy right there. I think Brandon knows my story. He's on Instagram. He said to us, retire Hulu. He goes, I don't get this Instagram thing. I don't get it. It's all chicks in bikinis and gold. That's your algorithm. Okay, Brandon, play us out. Thank you, everyone. We'll see you next time. [1:10:51] Chad: Thank you, Haley. Thank you, Jessica. [1:10:53] Justin: Thank you, ladies. [1:10:57] JD: Chad. Oh, there we go. Oh, rebel girl. Well, look at this. He always picks his music very logically.