Todd Harlow on Retireholics

[0:00] JD: In a world where retirement plans are [0:03] Chad: broken, a team of four renegade ERISA [0:05] JD: nerds dared to fix it. Justin McNeil, the wild card who plays by no one's rules. Chad Johansson, the technical wizard who can [0:14] Justin: turn anything into a spreadsheet. [0:16] Todd Harlow: J.D. [0:17] Chad: carlson, the man with all the plans [0:19] JD: hiding under his beanie. And Mark Palmeni, AKA Robe Guy, the heart and soul of the crew. Together they are retireholics, changing the retirement plan industry one beer at a time. Good job, Brandon. I mean, I mean, I mean, grock chat GPT. [0:40] Mark: Yeah. Who did you use? That was a combo of chat GPT [0:46] JD: and then gro for making it video. But let's tell the audience for a moment, like, you had to work your ass off to pull that all together, didn't you? You didn't just prompt something and hit Enter. [0:58] Mark: Yeah, it's a. [0:59] Justin: Well, but it's, it's just annoying. [1:01] Mark: Fighting with the AI. [1:03] Chad: It's not like. [1:04] JD: And then I had to edit it all together, but it wasn't fair enough. Welcome, everyone, to another episode of Retireaholics. I, I put my hair back behind my ears for this show. I, I, I, I got on a webinar the other day, and this is for all you retire holics chat bar people. I feel like sometimes retireholics blends its way into my regular life and I'm unaware of this, or at least I'm stupid enough to not realize it. And so I had a real webinar with like, real prospects, real clients kind of thing. And, and I usually show up for a retire. I kind of just like, I'm like, messier hair the better. Like, just throw the hat on, the hair up. And I kind of log in and there's, I'm doing a demo for like 13 of these. They're all female. I think they're all third party administrators for my Waves company. And one of the women goes, bro, you look rough. You look rough, J.D. like you rough. And I looked in the camera. I'm like, oh, my God. I, this is, this is not retireholics, bro. You can't just show up to stuff like this. So anyways, just sharing a bit for my personal life or kidney. But let's get right to it. We're gonna have a great show today. I just. And before you get started, Justin, because I'm gonna kick it to you, I just want to say how happy I am to have a guest this week that will bring value and, and someone I just love. So I'm already in love with you, Todd. And everyone's listening and watch the love fest begin. Just and do your new bit, man. Everyone's loving the new bit. [2:51] Chad: Perfect. Today's guest joins us from the land of bulldogs and the biggest super bowl choke in all of history. He owns a tech company, but for some reason couldn't figure out Zoom. Today he's the second half of the Hero7 founders to join the show and we're really looking forward to hearing any dirt he'd like to share on our pal Brent Schaffner. Todd, the new part of the show or the intro here is instead of me telling more stories about you, we're just going to ask you some questions and see what you come back with in a rapid manner just to learn a little bit more about you personally. You ready for it? [3:22] Todd Harlow: Yes, sir. [3:23] Chad: All right. Well, nerdy Chad and robe guy ditched us like they do every year. This, this week. And for to to play in Chad's member guest tournament. Which one of them do you think is the most intoxicated and which one [3:34] Todd Harlow: shot the better score between Chad and who guy? [3:40] Mark: Mark. [3:42] Todd Harlow: Oh, wow. Oh, Mark for sure. Worst score. I don't even know anything about him. I'm thinking that Mark probably resembled some of those great YouTube videos that you see where the guy tries to put the tee in and he falls off the tee. If you haven't seen that one, that has to be, you know, you know, someone can pull that one up. Yeah. So Mark, Mark, Mark shot worse because he tried, you know, on the golf course, when you try to do this, there's a fine line, but you can get in a good zone. But yet you know when it. When you see, well, you can't take it back. So once you go over the line, Mark did that out of nerves is my prediction. And may have started off good and then just ended. Most lovable for sure. But yeah. And memorable. But yeah, I'm saying Mark played horrible. [4:24] JD: Oh, my God. [4:27] Chad: Not giving a rapid response. And I loved every minute of that. [4:30] JD: Yeah, I see. I see how happy I am on a 0 to 10. Okay, go on. [4:37] Justin: If you could keep only one streaming [4:39] Chad: service for the rest of your life, which one's gonna be? [4:43] Todd Harlow: Oh, a lot of different shows. Yeah, I'm going original Netflix. [4:48] Chad: Just. [4:49] Todd Harlow: It's boring. Yeah, yeah, that's a good call. [4:52] JD: That's a solid call. That's some good. [4:54] Todd Harlow: And is another just. I know I'm breaching the rapid fire thing, but I mean, if you guys haven't dialed into some of these latest Netflix like Doc, my wife and I Have a thing. The trashier, the better. Crash, please. Watch this. The McKenzie one. The one about the woman who cuts the chick out of the pregnant woman. Dude. [5:11] JD: Oh, you like that? You like that? [5:14] Todd Harlow: I mean, I'm a dateline fanatic. I mean, yeah. Murder. [5:18] JD: Yeah. [5:19] Justin: We want to. [5:20] JD: We want to get to know him, right? He just delivered. [5:22] Chad: This is so much better. [5:23] Todd Harlow: I love it. [5:24] Chad: Name something that gets passed around [5:29] Todd Harlow: a bad woman. [5:31] JD: Yikes. [5:34] Todd Harlow: I mean, dark. I mean. Yeah. Yeah. I'm gonna. I'm not. I'm not gonna hedge that one. [5:44] JD: Whoa. [5:45] Todd Harlow: I mean, it got awkward and quiet, but just. Just let it marinate. [5:50] JD: And to any females and any professional women here from the industry, I apologize on behalf of the entire crew right now. Don't worry. You'll get yours here to bed. [5:58] Todd Harlow: But no, all the people on this call are good women. A bad woman. Sorry. [6:03] Chad: Good woman. All right, next one. What's a conspiracy theory you believe is actually true? [6:09] Todd Harlow: Oh, my God. Where do we begin? The moon. I'm going all in on the moon. [6:14] Chad: We were never there. Huh? Or just the first time. [6:18] Todd Harlow: Never. Would you. Bridge. Would you spend the money to build a drivable bridge to Hawaii and then never use it again? It does. I mean, I. Where do I begin here? You. I mean, you guys. See, I can talk. This is a thing that's going to be a problem with the show is because you asked me a simple question and I can go off the moon. All in. Let's save more time to talk about this, please. [6:40] JD: And Todd, not. Not a problem today. This is going to. You're. You're. You're. We need you right now. This is great. [6:48] Chad: On a scale of really hot to I can't speak when she's around me. How hot is Nate Moody's sister? [6:56] Todd Harlow: Can I get an update? I've heard this. I've. Why I should be a beggar better regular fan. And there's. And I had to. I had to reserve. [7:04] JD: Old school. You're old school. Yeah. Yeah. [7:08] Todd Harlow: I don't know. And that's a horrible answer. You know what? Blindly, I'm gonna go hot. [7:14] JD: Yeah. So hot. [7:16] Chad: It's gotta. Gotta stay at the top there. [7:18] JD: What a. [7:20] Chad: What's that say? [7:22] JD: I was gonna say if you just tuned in for the first time and you're a. [7:26] Mark: You're. [7:27] JD: You're a female advisor record keeper. You're like, oh, yeah. That's what I thought. This was this bro dude show where they're making fun of women. My God. Sorry. Go on, Justin. [7:37] Todd Harlow: That was it. [7:37] Chad: Ladies and gents the co founder of Hero7, Mr. Todd Harlow. [7:43] JD: So excited for this. We do need to do a little bit of housekeeping. Houseke. We used to do this and I like to do it now. Housekeeping. [7:54] Todd Harlow: No, thank you. [7:56] JD: It's always good when the old becomes the new again. Housekeeping. We. We have a new Chapar Champion strategy concept methodology around here. We don't vote for you at the end. You all out there in the audience, you vote for the chat bar Chapin throughout the show. And you do that by doing what, Justin Typing in the chat bar. Cbc. [8:25] Chad: I don't want to say it. That acronym followed by the name of the person. [8:34] JD: Name of the person. So if you like Kevy Kev, you put those three initials and then Kevy Kev. And he gets a vote. And the tech will be tracking the votes and we'll check into it periodically through a scoreboard throughout the show. You understand how that works, Devin? Okay, wow. [8:55] Mark: You're not. [8:56] JD: You're not filling Silent J's role. I'll drink. Okay. No, no, we decided that's not true. I had to do it. Of course. [9:01] Mark: I know how it works. [9:03] JD: And other gamer playing Todd. But this is old school, so you should know this is ACRO S. So if you say any initialism or acronym, you must drink from your penalty drink. I've got my favorite drink in the whole world. What are you drinking, Mr. Todd Harlow? [9:22] Todd Harlow: Old school. Jack Daniels. [9:24] JD: Jack Daniels. [9:24] Mark: I want to know. I have a question for you, jd. [9:27] JD: Why do you have a fifth of [9:29] Mark: Malort and not just shooters in your house? [9:34] JD: Ask our producer that. Malort's probably five years old from when we used to go on the road. And we do that for onstage shows. Okay. Those are the. Just burned through all the shooters. [9:44] Mark: So that instantly made me gag when I opened up the alcohol cabinet was like, oh, no, thank you. [9:51] JD: Yes, yes. That's our. [9:54] Todd Harlow: On the chat bar champion thing. I love it. I did see that recently. Is there something where there's momentum built, where there's a score that people can see so that someone can maybe rally? Or is it kind of. Is it kind of a mystery where you think someone's getting momentum but you haven't tabulated or. Or is it clearly showing? So if someone wanted to come, you know, and go dark, take chances, is it have that angle to. Oh, God. Love it, man. [10:20] JD: It does. It does. We were going to. We will show the leaderboard throughout. But I like how you gave some good insights on that, some commentary on that. So maybe it would make sense for us to place the leaderboard somewhere permanently. And I'm sure Brandon has thought about this, but that's good insights. But no, we will throw up the leader. But there you go. Samson's in the lead. Moody with the hot scissors behind. [10:44] Mark: And so we need the ESPN ticker bar that just kind of spins around the top. [10:49] Todd Harlow: Yeah, yeah. I'm just saying, that way, that way someone knows. It's like JD Started this call off with like a golf reference. One of the things that sucks about some of the tournaments is you don't know where you stand. There's just nothing better than when you know, the more intel you have, you know, you can take a chance. It may get you fired and you may take, you know, we all know, go for it, but at least you know, and you can defend. I, I, I love it. Keep going. [11:13] JD: Gotta go for it. Gotta go for it. You love it about as much as I love you. Okay, let's, let's move. Let's go straight to headlines. Headlines. Brandon, I'm so calm and relaxed tonight. It's so nice. Okay, the audio's off, but I don't mind that. Couple heartfelt moments in tonight's show. And the first one being an homage to Benefits Link. I'll drink for it. In terms of benefits link.com is how I would typically refer to it. But if you don't know this, you're probably new to this game or to the 401k game or I don't know what you don't actually. 401k. I'm pulling up Nevin's Nevin Adams article on the national association of Plan Advisors website and it is titled Talking Points. Goodbye and thanks. Benefits Link. I was so happy to see him write this. This is why I love Nevin Adams. He's a true industry, you know, through and through kind of blood kind of guy. And because that's how I felt, an email went out from the people at Benefits Link and it's Dave Baker and his wife. And they said, hey, we're shutting, we're turning the lights off on the daily email newsletter. And, and Todd, if I ever hired someone new into the industry and was trying to get them up and going, this is one of the things I would tell them is go and sign up for Benefits Link, the newsletter. Now it is old school analog. I mean, 80s 90s Internet shit. Like it's, there's no fluff to it, but my God, bloggish. Thank you, Hackler. Every day they would deliver the goods if there was something going on. In our industry. It was there in your inbox. You click on it, read the different articles. It was curated in just such a phenomenal way. So I'm really just kind of piggybacking on Nevin's article. But please go read it. You know, he's a wordsmith. He does a great job of, of, you know, really like letting them know how much we appreciated everything they did for the last. Jesus. I guess it started in 1995. So what are we looking at? Do the math. Devin. [14:01] Chad: 31. [14:02] JD: 30 years. It was 2. [14:04] Todd Harlow: 31 told there would be no math. [14:08] JD: But yeah, God bless them and I hope they enjoy their semi retirement. I think it's still going to be up for someone, correct me if I'm wrong, but for like job stuff like. Oh, oh, sorry. I've posted job opening jobs on there for sure over the last 20 years and, and gotten great applicants. There are people that work for our firm right now because of benefits link. So there's also that as well. But. [14:35] Chad: But the domain's not going down, right? Like you can still get on there and see. [14:40] JD: I think so because I post. I think, I think someone's going to keep like the job marketplace and that kind of thing. I think what is ending is you are no longer going to get those daily emails and I think it's the end of month. It's June 30th, by the way. This is my call to the industry with AI and everything. Like someone picked that baton up. [15:00] Mark: I was just about to ask. [15:04] Todd Harlow: Yeah, so question. You know, like when you get those random feeds that says some celebrity died and you, you. It's the morbid thing. How. Because you want to. This is like it. Could it happen to me? My point is why? My question is why? Because to your point, jd, you can bash the analog and all that, but the value is there. So my question is why? What is. [15:25] JD: Because I think, I think they're, I think they're old. I think they've, they've locked it in. Here's my answer to you, Todd. They've been writing about retirement for 30 plus years and now they're retiring, bro. [15:40] Todd Harlow: Do that. That's a problem with our business. Let's cut the shit. I mean like in terms of we're not, you know, getting any younger, but. Okay, good, good to know. [15:47] JD: Let me, let me answer your question. Why didn't they sell that part to someone or have someone carry it on? You know what? I wouldn't be surprised. I, I wish we had Nevin here tonight in the Chat bar or something to find out that like someone would push them for that. Because if I was drunk and having a beer with them right now, those two founders of that, the husband and wife, I'd say like come on, we can find someone to keep this going. You know, like you guys can make a few bucks. [16:15] Todd Harlow: What I think so important about it too is it represented. Like we all know a lot of the value we get. Call it value, whatever is product driven but meaning that you know, it comes from a product manufacturer and it doesn't mean that's trash. I don't want to say that. But everyone then starts to question the bias. Benefits Link represented that third party kind of arbiter of aggregation of all the stuff. So it's needed to your point. And so someone could have picked that up. And as we know the benefit stories expanding beyond even retirement. So arguably it could have been. It could. And by the way their name laugh now it doesn't say 401k link. It's benefits link which is even more so. Hey, offline, let's talk about it. The old let's, let's buy it for a dollar and turn this into something [17:03] JD: we should, we definitely should keep. [17:06] Todd Harlow: I'm with you. I'm not. I'm being honest. I mean there's need for an arbiter of third party aggregation of all the stuff. Make sense of it. Maybe have an opinion on it. I'm with you. Sold. [17:17] JD: What was. Oh, I was going to say to your final point, like they never had an opinion about anything. That's how analog and cool it was. It's like here it is, you know, go, go click on it. Go, go learn about it. So it's kind of refreshing. It was a real independent just source of information in Nevin's article. Sorry to belabor this. Is that a word, this topic. But, but it's worth it because you know, three decades they, they did such a great job of giving you the important stuff and there was no other place to get it back in the day like you, you, you had to go work for it to find it. We, we're kind of spoiled these days. You can go to many of our, our, our media outlets. Your inbox is flooded with this stuff. Like it's pretty easy to stay up on what's new in retirement plans. And back then it wasn't and they were kind of the first ones that solved that problem. But I will, I have to move on only for time. And I apologize to Benefits Link for, for moving on from this story. Because as Todd just mentioned, it's worth more. And. And maybe we can keep it going. Talking about legacy, talking about, like, respect. Mr. Fred Reich. I mean, everyone knows how obsessed I am with this dude. Update everybody. He's got a new website. Fredrish.com. i don't know if you've all paid attention, but he's kind of solo now, slash partnering with a couple different firms. But he's kind of left the drinker biddle, whatever the that was called, and now he's kind of on his own and he's got this new. I shouldn't call it 2.0. I'm sure it's like a 4.0 version of Fred Reich. But he's got his own website, putting his blog up there. It's got all the old stuff from his blog, but he's been hammering out nine new posts that are all on this. This new regs that are coming out that we're all talking about. And I just want to say for a moment, like, look at his fresh brand popping off people. [19:32] Chad: This is on this site. Really know what they're doing. [19:35] JD: Let me tell you, dude, they do. [19:37] Todd Harlow: My God, it's on. [19:39] Chad: Is that still so. [19:41] JD: So creative. So good. Check it out. It's frederish dot com. [19:46] Chad: So I was wondering, was this a. Because it was back to back in our topics today. I mean, could he be the one to take over for benefit? Fill the gap for benefits link? [19:56] JD: I don't think so. [19:57] Chad: Got a new website. [19:58] Todd Harlow: I cannot. I cannot respect Fred Re until he admits he was the character in Home Alone that hit the guy with the shovel. Until he admits it, I cannot like, dude. Oh, man, Marley, we would love you more. Thank you. We would love you more. Just own it until he goes there. He's never gonna let. He's gotta. He's got to embrace that he needs [20:20] Chad: to start walking around conferences with a snow shovel. [20:23] JD: Oh, my God. [20:24] Todd Harlow: Hell yes. Yes. [20:28] JD: Todd, I feel like you need to be a reoccurring guest. 100. So, yeah. So check out fredreich.com. brand new look. He's keeping the blog up. He's been coming up with posts every week. And as. As has always been true. Fred knows how to break down this complicated stuff and make it really easy to consume and is not afraid. Like I just said, with benefits link on the. He's not afraid to share his. His opinion and his personal feelings about some of this stuff. So please go check it out and pay attention to Fred Reese, because I feel like big things are coming from this Guy, before I get jd, Carlson just said, I think big things are coming from this guy. Frederic, that's blasphemy. That guy's already done big things and I'm just a. Idiot. Okay, let's spin the wheel of ice [21:21] Mark: hanging on his coattails. [21:24] Justin: I got Mark and Chad. [21:26] Mark: Yeah, I got Mark and Chad. [21:27] JD: My mother in law bought mine. My mother in law got this for me. I am at my in laws house in Edina, Minnesota if anyone gives a. Which I know no one does, but. And Devin's supposed to be there tonight [21:48] Mark: and my flight just got canceled, so [21:51] JD: that was gonna get on a flight. Oh, canceled, Canceled. Okay. That'd be fun. We can talk about that in the after show. Devin, everyone. I didn't give any proper introduction, but for you locals who've been around here, you know, Devin's our wholesaler down in the San Diego area and. Or our sales consultant. We don't call our people wholesalers, do we, Justin? [22:10] Chad: That's way too corporate on my face. [22:12] JD: And he also married my niece, that little scumbag. So I had to give him the job. [22:18] Mark: Nepotism. What do you know? [22:20] Chad: That's still your fault. [22:21] JD: Kidding, baby. We'll dive into that story at another time. Okay? I have to drink this. Okay, so I'm gonna drink this. [22:29] Mark: Don't worry, I already got it for you. [22:30] JD: How am I. Oh, well, I think I'll still drink mine. The national association of Plan Advisors approves private equity and crypto. That's me being funny. They now have a class. It's a certificate program, Todd. The program is targeted to the retirement plan advisors in their group who support defined contribution plans. I'm reading from their site and are interested in private and digital assets. But what I would like to say to you. Read to you is the second paragraph. And Todd, for me to set this up. There's a lot of people in the industry that don't think private equity, private credit, crypto as well, should be involved in our 401k space for. For a variety of reasons. But in this article in the second paragraph, they. They say this. A 50% decline in the number of publicly traded companies between 1996 and 2020 means shrinking traditional public market opportunities. The market is shrinking, Todd. We all don't have companies we can invest in anymore. Meanwhile, private investment funds now represent a massive 16 trillion in assets globally. So I. I hate to go to this first and I hate to Brian Grass going to get mad at me and the American Retirement Association. That to me is the. Why are you texting me, Justin, what's going on? [24:17] Chad: You haven't thought. Because I did a chat bar, champ in the, for my vote in the chat bar. [24:22] JD: Oh, oh. [24:23] Mark: I was trying to get him to drink. [24:24] JD: Okay, I'm trying to drop a bomb, you numb skulls. I think that's the biggest paragraph I've ever heard, Todd. We don't need private equity because we don't have options to invest in. By the way. Brian Graff, American Retirement association, most people invest in mutual funds and collective investment trusts that are just these diversified things with a whole bunch of different investments in them to act like we're somehow deprived of some asset class. [24:59] Todd Harlow: To me, like, that's, like that's the stretch, as if that's the unlock, right? [25:03] JD: Yeah, yeah, keep going. Because I, I, that caught me off guard. Like, okay, that's your reason for this. Like, come on, [25:13] Todd Harlow: are you, are you wanting me to like thunder away now? [25:16] JD: I do. [25:18] Todd Harlow: Okay. It started with, remember when stocks, when, you know, we had to give everyone their own individual account. [25:25] JD: Yes, great analogy. [25:29] Todd Harlow: I'm torn here because, you know, the old prisoners run the prison. Like, you know, to stand tall and say, nope, I firmly believe that there's way bigger issues that all with advisors, administrators, the whole ecosystem has way bigger issues. But to ignore that this is the prisoners at the gate issue on this topic. And by the way, Wall street does this and I could go on and on as kind of this half assed historian here about what's happened with private equity. This is their new reinvention of we can do something that no one else can. What they will do though, is unitize this down into a watered down dynamic that'll be way overpriced. So the fact that they've approved it, I guess good for them. But I guess it's a call for me for the industry to stand tall, to say maybe it could be applicable for some plans. But to look at this as some watershed moment, like, this is the unlock that's going to allow the things that I hear on the show all the time access to plans or you know, access to retirement. Like, you know that people who are not saving enough, like, come on, guys, it's, this is the again the productized world leading the charge and trying to get us all excited when the real issue and not to go politics here, but this ain't changing the real issue 1F and iota. Cut the shit. I agree. [26:53] JD: And I was, I didn't always agree and I saw, I saw Jack in the chat bar. I just scrolled to try to Read his thing and I boomered out. And Jack is, is, I believe, like a thought leader in this space. Very experienced. Let me simplify the concept for people listening in private equity, private credit, we'll put digital assets aside for a second. I'm learning from, from a lot of educated people, and I've talked about this on this show before, that, that, that sector, that industry is really struggling to find new assets. They've struggled with all kinds of things, performance, et cetera, et cetera. And obviously, we're the cash cow, like the retirement plan world is this just great fish in a barrel kind of moment to get new assets in your stuff. And I feel like our industry has already succumbed to this. You talk about Voya and power, and now the American Retirement association, which, you know, is, you know, it seems like [28:08] Chad: the writing's on the wall. [28:10] JD: Behold, it is. The writing is on the wall. But, but, but the American Retirement association works not only for us, you know, little po dunk vendors that work in this space, but they also work for the big mutual fund companies and the record keepers. And I get that, and I actually appreciate that and love that, but we've opened the door to Justin's point. Like, the door's open. They're coming in. [28:33] Chad: Conspiracy theory, tinfoil hat here. What are the chances that there's some kickbacks from private equity to equity to ARA and stuff like that? There's no. Right. [28:44] JD: Well, I don't know. No, no, I don't, I don't think that the ARA is gonna. I'll drink, gonna get a bag of money on their, on their doorstep. But I, but, but this is, this is the machines. No, this is the general machine. Record keepers will profit from this. Of course. Like, and I want to get back to the more specific point, which was. Let's just call it what it is. Like, this is an alternative investment that we are now allowing into our market. When I've defended it in the past, let's all be very clear, this is going to be a sliver in a managed account. It's going to be a sliver in a target date fund. And, and now the, the national association of Plan Advisors is offering a course, that's the headline we're talking about right now, to give advisors a certificate so they can be well informed on this, so they can explain to their plan sponsors and their participants what's going on here. But I just think we all need to be very honest with ourselves. And if we see this slipping, if we see these little slivers and targeted funds and manage accounts. Breaking out Jack. That's what you mentioned, Jack. You said it'd be appropriate if they did it in a brokerage account. And I'm like, okay, I don't agree with that, Jack either. Like brokerage accounts are freedom. They can go do whatever they want. You still go ahead, Todd. [30:15] Todd Harlow: I have to monitor that. Yeah. I mean that's like saying buying individual stocks. That was the same angle there. Like go buy the tech stocks. And they were going Amazon back in the day. So here's JD started off this call by the way, everyone who maybe missed the pre show about a golf story. So I'm g give you one. I. There's a famous. I have, I have a buddy's dad that played at, at, at Spring Hill College in Mobile, Alabama but he had offers at Notre Dame. This guy was an accomplished golfer. He tells this funny story about another guy who went to a golf pro and said I want to learn how to hit backspin. And the guy goes, oh, you're always past the pin. Blah, blah, blah. Is that your problem? He's like, no, it just, it looks cool. [30:59] JD: Yeah. [31:00] Todd Harlow: And he, and it was the, the point being here is let's focus on your real problems. Like you can't even catch the ball clean and we can go all. And isn't that what we need to be doing? And again I, but I admit the draw to this asset class that I admit but, but here's my final one that I will say if you try to tell someone to go get private equity, you have minimum high net worth standards, I think they call it accredited investor. I can go on and on. Why are we circumventing that? Because we are. The point is that is because there's a risk profile with these assets that to JD's point to start this, this diatribe which was there's a decline as if the public company alternatives are like dwindling. Are you kidding me? [31:48] JD: Yeah. [31:48] Justin: Right. [31:50] Todd Harlow: So, so the point is they're acting like so fine, go to that market. Oh, I don't have the money. What does that tell you? I don't, I don't, I don't qualify. But you all of a sudden qualify as a. Because you want the upside. The plan sponsor then has to determine should like even if they do it through a brokerage window, which they will probably do. And you guys as administrators know we have to. Someone blows themselves up, we're. They're going to be held accountable. Now this is on my point is I, I get the allure. I'm Just saying. And I'm saying go for it in certain cases if it's all disclosed. So I'm just saying though, stop acting like it's going to be the unlock to what our industry needs to finally recognize are the other bigger issues. That, again, I'm already going there. [32:40] JD: No, you, you, you actually just articulated what I couldn't. That's exactly what I wanted to say, which was, hey, the governing bodies of our industry quit acting like this is something that, that we actually needed because we, we don't, don't, don't act like, oh, geez, if we, if we don't access, if we only had access to private equity, our, everything would have been okay. And, and to some of these comments, I've always thought about this as it being a sliver. I haven't really wrapped my brain around it being a core menu option because that, I just don't think that's actually going to happen. That might be an outlier, an edge case. I'm sure that's going to happen somewhere. But in general, that's not what we're talking about here. We're just talking about them getting slotted into these mutual funds in these, you know, investments that are getting all kinds of money poured in, target dates, manage accounts and they're going to get their money. Here's what I will say to wrap this up and then, Brandon, if you can, I'd love to bring Jim Sampson in to the show tonight if he's, if he wants to. He claimed he did on LinkedIn. So if you could slot that in, let's do it. Here's what I'm saying is as an industry, we need to keep our eye on this. Okay, so the American Retirement association is going to give you a certification. I think that's a great step in that direction. But we need to keep our eye on this ball and see where it's going. And all you advisors out there, all you third party administrators, you industry pros, you don't just let this slide in and have no opinion about it. You should be looking at target date funds. You should be looking at manage accounts and should be seeing where they're allocating to these areas and seeing how it pans out. And we should have a voice. So that's my only two cents there. Samson, are you down to get in here? Because I got some other I'd like to talk to you about. [34:41] Justin: Well, if he's not, I promoted him, so we'll see. [34:44] JD: All right, well, he's, he's probably just trying to get his hair done. Yeah, he's coming. He's coming. Actually, let's let him wrap this. If we can. I'm gonna drink my Smirnoff. And Todd, your golf analogies, can you keep them coming? Because I like them as a. As Samson comes in here, I. The kid I played with on the course, when I. My finger up, he played the NCAA course. I'll drink. And he played it. Devin from the tips. I played the two T's. He played from the tips. He's a junior in high school. He shot one over, and I watched him hit three lag putts where I was like, you're a little. You need to get the ball the hole, bro. And so the kid's legit, and he lives literally in the house behind me on 11. [35:40] Mark: On 11 was his tee box. Back by five, the par five. [35:44] JD: Yes. Well, it wasn't. It wasn't. And I walked him back there because he wanted to get the full NCAA experience. Jim Sampson. I mean, what's going on, boys? [35:56] Justin: How are we doing? [35:57] JD: Honestly, if I better now, Todd Harlow's like my new girlfriend. Because if. If I had to choose right now who I would spend the rest of my life with, I would literally choose Jim Sampson. 10 out of 10 times. Oh, I would snuggle up to you for the rest of my 401k life. Do you want to put some finishing touches on this whole. Hey, private equity. We need it. We're behind it, and we're going to start training y' all to let it rip. [36:26] Todd Harlow: Jimmy, come in hard. Let's go. [36:28] Justin: Yeah. I spent a couple days at the retirement Advisor council meeting this week, and one of the first breakouts we had was a whole session on private market. And the whole conversation the entire time went around in circles and around in circles. And after 45 minutes of going in circles, they said, so I think the conclusion is, we're not ready for this yet. Look, what are we doing here? [36:56] JD: But it's happening pretty clear that. [36:59] Justin: Yeah, it's. It's pretty clear that the industry seems to want this more than. Than the actual sponsors and participants. [37:09] Mark: Thank you. [37:09] JD: Well, well said. You know what, Jim? The sponsors and participants, because I don't think they know what they need, but I would say it's you guys, the advisors that I've talked to, and especially the old ones that are. They don't. They think this is a joke? [37:25] Justin: Yeah, I just don't. I. I. Rob made the comment in the chat by the, you know, things. It's sold, not bought. I mean, Everything in our industry is sold, not bought. Right. And it's just, it's just a matter of, you know, follow the money trail. [37:39] Todd Harlow: That's a good line by the way. [37:42] Justin: Right? I mean who's, who's driving this? [37:46] Todd Harlow: Well, Jim, to your point, money on it. Jim, to your point with I'm just another factoid that Justin didn't uncover. I'm kind of obsessed with gambling. They will figure out a way to suck you in with the way they do customized bets. We can go with prize picks. I mean I can go on. The point is go buy it. Then you act like you can't do this. They'll figure out a way. Why are we obsessing on any. You know, I'm going to personally just take it. An ERISA based dynamic. Yes. My point is why are we trying to do it in a heavily regulated business where there's so much gnarliness. Go buy it. My point is you act like it's like the little guy can't do it. We can gamble now at two dollar pair of mutuals. I can go on and on and on. Robin, you act like private equity like any other for they're not. They're not dumb. They're going to unitize this down to any dumb numb nuts who wants to buy it. Why do we think this is the unlock? That's my point. [38:45] JD: Well, we don't. We already said it. Follow the money. Kevy Kev. Yeah, I said the participants, the plan sponsors. But then you said in the comment bar cavity have. Do what's in the participants interest. No, the participants. No, that's what I'm saying. We do what's in the participants best interest. Kevy Kev. Because they don't know what to do. [39:07] Todd Harlow: Saving them from themselves is a big value by the way. As a leader. Saving them from themselves should be valued. Which we should have Learned from the.com/era08 era. End of story mic drop. Saving them from themselves. And by the way, one of the reasons. Why do you think private equity is so good? It's unregulated, it's. There's angles. I'm not saying it's crooked, but the one once you make it a regulated product, it gets so watered down it's not even private equity anymore. Why, how dumb are you? [39:38] JD: That's great. That's. [39:39] Justin: Actually, I'm pretty dumb because another problem with this, right it's. And this, this was brought up many times earlier this week. [39:46] Mark: The, the. [39:47] Justin: There's the whole issue of because you have the liquidity problem and the valuation problem, that can really be. [39:55] Todd Harlow: Sorry. Yeah. [39:56] Justin: It can't really be solved in a mutual fund environment. Right. Yeah. [40:00] JD: Can it not? I mean, I, I, I bastardizes it. [40:04] Todd Harlow: It turns it into JD's point where you feel like you own a piece. It's not even what you own the name called air quotes, private equity that you so badly claimed you wanted to own. It's not even that anymore, to Jim's point, but because it's now, it now has to be. I mean, it's, it's liquidity. It's not even [40:25] Justin: to get it into a daily valuated environment. They got to water it down because you got to be able to access. [40:31] JD: Okay, no, thank you. You're answering my. What I wanted to ask you. Yeah, yeah. Okay. So to make it liquid. Okay, sorry. God damn it. Todd and Jim were both way smarter than they knew what I wanted to ask them. They're like, I don't know, like to make it liquid you up the very thing that it is. And then there's games that are played underneath all that. Oh, my Lord. Like that's, that's another deep cut. Like, see? So Devin, we are being bamboozled here. Like, like this, this is a real play on the cash. And so I want to know, Devin, from you, what's your take on private equity, private credit? And I'm kidding, I'm not gonna ask you that. All right. By the way, Devin, just so everyone know, we're gonna buy it. [41:23] Mark: It's good. We're going to the moon. [41:24] JD: Devin's having a phenomenal year this year. He's crushing diamond hands. [41:28] Mark: Diamond hands in private equity with 401k. [41:31] JD: Actually, you know what, Devin, I'm actually gonna pick on you for the next topic. So let's pivot to the next topic because funny enough, God, it's like I orchestrated this shit. You, you were the one that motivated this topic to me. Now you motivated it based on third party administrators. You were. Devin, for everyone listening in, was in San Diego kind of trying to market our firm, work with advisors. And what that means is take them out to bars, buy them drinks, take them golfing, doing all that kind of stuff. And he ran into a, a competitor of ours. This is, here's the premise of this conversation. A peer of ours. Not a competitor, nay, a peer of ours. Another third party administrator. And that third party administrator was not excited that you were out that night with them doing the same thing that they were trying to do. But let me pivot because I want to go the record Keeper. Because it's a bigger fish if you're in this industry. You know, think I'm right? We'll ask Jim and Todd. Record keepers don't play nights with each other. Not only do they talk shit about each other, like, and when I say they, I guess what I'm really referring to is many of the wholesalers that represent them. And because they have quotas and pressure to sell, somehow they've gotten to the point where they need to talk about their competitors and try to highlight what they think they do wrong or aren't good at or too expensive or do this or that. And I'm just saying here, now, as a. I'm gonna go to you first, Jim, because you're new. You're new here. Wait, I said I was gonna go [43:19] Justin: to Devin, go to Devon, go to [43:22] JD: Devin Normal, let's go to Devin. It. I'm a 55 year old man, I got three kids. I mean, our last retireholic show would not prove this out, but I'm trying to be nice to people, you know, like, trying to be like polite, balanced, whatever. What? This is childish. Why can Voya not do an event with empower where American funds do an event with principal? They're all supporting the same industry, the same advisors. Devin, why are they talking shit about each other and why can they not work together? You have young children. [44:06] Mark: Yeah, I think I've thought about this long and long and deep. Lie, if you will, like, because you know, I talk to my wholesalers and other wholesalers throughout the country, whether it's on the east coast or Midwest. It is not like that. And so then I go, okay, so [44:24] JD: if it's not like that, then. [44:27] Todd Harlow: Come on, hold on, hold on, hold on, hold on. [44:30] JD: Next. [44:31] Mark: Hold on. There is a golf tournament in Colorado. This is what I'm prefacing, Todd, that all of them come together to do that golf tournament, right? Like, it's not saying that every single thing that they do throughout the year is completely combined, right? They do want the one off to plan. Tony. [44:53] JD: Okay, I'm gonna, I'm gonna pause you right now though. I appreciate this. And well, what I'm gonna pause you on is, and I, and I appreciate you for this. You have learned to be a really good salesman. And right now you're being a politician and you're being chill and I, I, no, I appreciate that. I really do. [45:11] Mark: You won't even let me get to my damn point. [45:13] JD: All right, well, spit it out because so far you're right. [45:17] Mark: No, I'm not Because other places will do it. In California, it's an island. There's only San Diego, Orange county, it's an island. They want as much business as they possibly can. [45:31] JD: They're greedy. [45:32] Mark: It is, it is the nature of the business down here. But from what I have heard, especially being an internal, when I start calling on other record keepers and doing things when I was, when I was working for Chad and trying to grow the PDC name in other, in Nebraska, Wyoming, they would do things together once or twice a year. As an industry whole, we do it down in San Diego. Orange county does it as well with whipping and the whole, you know, kind of let's call it Christmas party. [46:02] Chad: Right. [46:03] Mark: But there are events that we don't do down here in San Diego because I don't know why. I don't know if they feel threatened. I'm a strong advocate. Every single time I talk to my partners of like, we got to stop doing this shit. Like all tides lift, all boats. You're not talking to someone. You're not talking to someone that we're not already talking to. Like there should be no reason why we can't go to the Del Mar racetrack together and have four different record keepers when we can have four different DC Right. [46:36] Chad: So I don't disagree. I mean it's. They want all drinks for all of the advisor. Right. You know, so that. It's an old school mindset. [46:45] Mark: Yeah. [46:46] Chad: Their fear is going to be like, how many, how many advisors do we work with? [46:49] Todd Harlow: They want the distribution of the advisory firm. Justin. But yes, well said. [46:53] JD: Yeah, no, I think you're both right. And Devin was touching on that. That's exactly the why. The why is that they want to like put this person in a, in a cage and then yeah, hey, you're, you're my guy. But I think we all know that that's not really how the real world works. So Justin mentioned old school. And Devin, you definitely did a great comeback there of like piecing all together. So I apologize for interrupting you, but I'm going to, I'm going to kick it over to Jim because he's been so patiently hasn't chimed in. Jim, what I want to ask you though is what I'm asking in general is like how. How immature. Like, like what the. We're all working to do a good task to help out plan sponsors and do whatever. Like why are we at odds with each other and, and how do you feel as an advisor feeling like your record keepers are spatting with each other about. [47:50] Justin: Well, it's funny because you saw the picture from Monday with me and Kush playing golf. That was at the, that was the, [48:02] JD: the, your competitors in a sense. [48:06] Justin: Yeah. There was the defined contribution investment only golf tournament and every record keeper, wholesaler, every investment only wholesaler, all of them were at this golf tournament and they're all very civil to each other and I mean we all know the investment only folks that they travel in packs. [48:28] Mark: Yeah, they're. They're great. [48:29] JD: Right? They're great. [48:30] Justin: They all love. [48:31] Chad: It's easier, it's easier for them than [48:32] Justin: it is for the record. [48:34] JD: They can all be in the lineup. [48:36] Justin: They're like, they can actually help each other. [48:39] Todd Harlow: Zero sum game. Let's cut the crap on the rk Go ahead. Sorry Jim. [48:42] JD: Go ahead. [48:43] Justin: You're not going to see, you're not going to see two record keeping wholesalers from competing companies say hey let's, let's grab a bunch of tickets to a ball game and yes, yes. You're not going to see that happen. [49:01] JD: Only yes. [49:03] Todd Harlow: JD Your idealism is plausible but I'll show I'm hijacking. [49:09] Mark: My question to you Jim on that is why not? If you believe, if you're a wholesaler and you believe that your product is the best, why not? [49:21] JD: Not. Jevin, hang on. Not the best. That advisor is going to do plans for Power. They're going to do plans with Voya. They're going to do plans with a few with best. Well no, no, no, but I mean in general that's how it's going to work out. Let me ask this question back to Jim and then Todd, you'll finish it with the rant. But Jim, how many advisors out there are doing 100% of their business with one record keeper? [49:52] Justin: The good advisors. None. [49:54] JD: Zero. [49:56] Justin: They know that one size doesn't fit all. [49:58] JD: TPA zero, negative zero. [50:01] Mark: Right? [50:02] Justin: I mean you, you can't put everything with one player for multiple reasons. One, they're not always a fit so [50:10] JD: why not work together for Christ's sakes? Like. [50:12] Justin: Well, because they do want to get as much of the market share as they possibly can and they know that if an advisor places a plan or a third party administrator as a check swing for third party administrator places a plan, they're going to have to pick one record keeper or another. So it's very different than, than the investment only gang. [50:37] JD: But what I for every, for the novices listening because with the core menu and you can, you've got tons of slots so everyone gets a little bit of this. Yeah, yeah. [50:46] Justin: Nobody Gets all of it. [50:47] Mark: Yeah, but is if there's no assets in there. What. What Exactly. Okay, cool. They're slotted in but there's no assets in there in their. Yeah, sure, they're in a lineup but [50:57] JD: we're not actually talking about. We're not talking about startups only. Devin, most of your rep keepers are not looking for that. They want to map funds over so the DCIO realizes, hey, we can work together. They'll map to you. Map to you in the D. In the defined contribution investment only world. There's the whole target. There's the whole target day fund. That's an issue. Like they want that slot. But Jim was making a great point which is like we get all that. I just. Jim, one last like mini response here is like, but don't you think that maybe they could all be more successful if they would like work together a little bit instead of trying to silo from each other? It just seems again, I've used this word several times tonight. It seems childish to me. [51:45] Mark: Like I think it makes the advisor the, the more the record keepers do that. I think the advisors people can read through it. They know which ones are authentic and which ones aren't and they're going to work with the people that are more authentic. Go ahead, Jim. [52:02] Justin: We know who has respect for the competition and who's just talking. [52:06] Chad: Correct. [52:07] Justin: There's plenty of wholesalers in my territory that have no problem coming right out of the gates talking about their, their other competitors move. And it is absolutely, quite honestly, we don't, we don't work with those. [52:22] JD: Oh, look at there's Jim Sanson saying they don't. All right, Todd, step up on the. [52:26] Justin: I love. By the way, I love that I'm not the guy giving the ramp. Go Todd, step up. [52:32] JD: I like Todd because Todd was answered [52:34] Chad: for like the last two minutes there. [52:38] JD: I was so proud of him. He was holding it back. But Jim, I love you. But Todd's like the. We're putting the abstract eccentric artist right now up on the soapbox and he's about to just tear it up. [52:52] Todd Harlow: Todd, now that you say that, now they said I'll choke and come off. Less, less, less dramatic. [53:01] JD: Todd, just, just be you and you'll be fine. [53:03] Todd Harlow: Go first it gets down to like individual wholesaler human behavior. Let's just acknowledge that that's realistic. Their own compensation. That's a reality. Let's cut the crap. [53:15] JD: Individual human beings trying to make [53:19] Todd Harlow: should the idealism. The irony is I'm a ranter. Yeah. I'm emotional. We all we can figure that out. I'm an idealist though. And the JD's point and not to honk him but like I see a world that there's so much damn business out there we should be promoting the greater good. And with all that said, the only thing I will say is we have to ask the question, what business are you in? You are in the asset management business. It's only profitable if not only do you win the plan, how the plan looks and this is also, this is unscripted. I believe that we need to parcel out true administrators, true asset managers. What business are you in? The advisor should be the one. I'm a total advisory home. Jim, I love you. I'm hugging you through the phone. Hero7's entire initiative is to say you are the hero of the story to make sense of all this that's going on. But when we actually act like empower doesn't own it. Putnam. I'm not, I'm not outing them by the way. Anyone on the phone who's with them, that's fine. Fidelity is only profitable if the plan looks a certain way. T. Rowe Price. I can go. They are in the asset management business. They are not in the human capital improvement business. Which is the quicker we realize that's actually what all of us are in. To your point, jd, if we can all align and coordinate around what we're actually solving for, that is where the idealism kicks in. Which is to say we will have so much fricking business because there will be a gold rush in our business where every plan in America is going to want to review. Should I look at something? And by the way, let me just pause that one. Isn't that our ultimate objective? What I call gold rush. If every plan in America said should I investigate something different? By the way, last point to Fred Reich, the celebrity ERISA attorney. Which by the way, here we go. [55:20] JD: Frank. [55:23] Todd Harlow: He absolutely was one of the catalysts to the first gold rush we all experienced. Which was every plan in America had to reevaluate. Do you mean I have my fiduciary liability? They didn't even know fiduciary. [55:36] JD: Yes. [55:37] Todd Harlow: Everyone who is even drawing a paycheck owes homage to Fred Reich, Marshall Wagner, [55:43] JD: Don Trone for scaring the out of playing sponsors. [55:46] Todd Harlow: If you think it was driven. And I love who said Jim, you had a great line. It's. It's sales led. But that sales was led by those legends. And we should absolutely pay homage to them because they made sales that we didn't even know happened. So all this to say is that when we wonder why they can't play nice. Because the reality is we don't even know what the fuck we're solving for. And they're solving for a moving plan from point A to point B, and they can't see the end unit that says, if the guy next to me is sponsoring this event and I'm sponsoring it, they can only move the plan one place. It's either me or him. And that's why. But the reality is, if there's so much business. And this is where idealism matches mine, JD which is why we snuggle up and we do our things together. And the point is, if there's so much business, no one's going to get all of it. That's why Costco still has BJ's. And I can go on and on and on. That's where competition is healthy. And I know that was a massive rant. We were probably over on time. But the reality is, let's get beyond our own individual silos and solve for what's really going on. And if that happens, the people can realize that we can play nice. But right now, because the margin compression and the fact that they're not valuing what we're doing, if we're totally honest, that's where they're like, there's only one winner. It better be me. And rant. [57:08] JD: Wait, I. Did you see? You can get BJ's at Costco. [57:12] Chad: No, not those BJ's. [57:14] Todd Harlow: Yeah, you know I'm kidding. [57:16] JD: Okay. That was great. Yeah, I'm kidding, I'm kidding. I'm getting. It's you. By the way. You definitely came through on everything that I wanted you to. I have to pay attention as you go. It's, it's. I gotta stay up with it. But you check the boxes and you. And you check boxes. I didn't even know you're gonna check. I'm like, yes, yes, yes. But that's what I was trying to say to Jim was like, I get it. What you. Basically, one of the things. Major points you said was, hey, this is capitalism. Like, these are big companies that want to make money. And so they drive these people because who am I. Who am I talking about? I guess I'm talking about your regional wholesalers and these sales people. [58:01] Todd Harlow: Exactly. Let's cut the. [58:02] JD: And so. And so the reality is it's their employers that are motivating them. And they're also motivated by their own success. But wait, let me Stop for a second. I'm gonna kick this to you, Jim. We know this, these, these regional wholesalers. I mean these are professional people. Like they're many entrepreneurs in a way. Like, I think they have a little bit of free reign to run their territory the way they see fit. And so even though to Todd's point, their corporate, you know, landlords are telling them, hey, you need to do this, do this, do this, do this. Their goal is really to hit certain numbers. And I will end this with you and I'll move on to a final subject is. And again, this is me being the good hearted guy, which I'm not always that way. But I'm saying to get the better score on the scoreboard. You probably, and Devin mentioned this earlier, I think you might do better if you left behind all this childish sandlot and you started like you should actually start to work with each other the same way that defined contribution investment. Always work with each other. [59:12] Justin: 100. [59:12] JD: And then whether you're in San Diego, Louisiana, San Francisco, Boston, New York, Miami, wherever, we should all be a community that works together. And when someone, when you work for Voya and someone says, what do you think about Joe over at Empower? You should be a mature adult and say, you know what, that's a pretty good product. They do a B, Joe's a good guy. Finish us out, Samson. [59:42] Justin: Yeah, I mean, somebody in the chat bar made a pretty good comment though. It's. This industry is so small that the, the, the guy or gal you may be talking today could have end up being. You got to be careful. [59:57] Todd Harlow: Yeah, that's awesome. [59:59] Chad: At that point they just understand the true. [1:00:01] Todd Harlow: Sad but true. Yeah. [1:00:03] Justin: Yeah. I will tell you, the folks that we do business with, obviously they got to have, you know, a good product and a good system and all that good. But I have found that the ones that we do a lot of work with, we treat, you know, they treat us as a partner. We treat them as a partner. But at the same time, I may say, hey, I need this. I don't think you guys offer this. Who does? [1:00:28] JD: Right? [1:00:29] Justin: And they're happy to say, oh, go call this, this person at this company. [1:00:34] Todd Harlow: They do that. [1:00:35] Justin: They do it pretty well. You should talk to them. And guess what? I'm coming back to them next time I need advice on something. [1:00:42] JD: Yeah. Because they treated you right. Right. Like any. Okay, I, I like that. Well, we've got Samson. Let's play a quick game and we'll do the semi extendo. It's not the Joe Rogan version Tonight, just a little extended. Because we got Todd, we got Samson. We don't have nerdy Chad weighing us down. Like, let's tap into a little more vodka and spend a little time together. I'm saying let's play Fin talk. [1:01:09] Mark: I mean, my flight got canceled, so you had me too. [1:01:13] Todd Harlow: We got Devin. [1:01:15] Justin: Don't forget Devin. [1:01:17] JD: Oh, my God, we've got Devin. Hallelujah. Jesus Christ. [1:01:22] Justin: I don't have his Hackler. [1:01:27] Todd Harlow: Let's make this fun. [1:01:28] JD: Can we do a 6? And Brandon. [1:01:31] Mark: Hey, Brandon, put me. [1:01:32] Chad: Why is he on top of you so much? [1:01:34] Mark: Just take my picture out. [1:01:38] Justin: Mutual love. We have reached. [1:01:39] JD: Yeah, that's what it is. [1:01:42] Justin: I got a text from Hack today. Earlier today. No words, just a picture of that. It was awesome. I got a great laugh out of it. [1:01:51] JD: I loved his. His. Yeah. Chat bar. He was. He was trying to crush you, Jim, in the chat bar. Brandon, play the. What are we doing here? Fin talks. We're gonna play a little something from Tick, Instagram reels, whatever, and then we'll discuss. Brandon, play something. I don't. I forgot what we're playing, but just play one Pintuck. Oh, no. I mean, yeah. There he is. There he is. Okay, you guys need context for this, because I know you're all old. Is. Is. Is he here? Is Hackler here? [1:02:35] Mark: Yeah, he's up the top. [1:02:37] JD: Okay. All right. Hackler. That little dude in his little shirt doing that dance, My understanding is he went viral on all kinds of social media because it had nothing to do with 4K, obviously. Maybe he was doing a little dance competition and his number was 401 and he's blowing up doing that little dance. But this tick tock was like, it said, would it say when your 401k is. Is rocking. So, Hack, let me kick it to you. You don't have to get political or any of this kind of stuff, but 401ks are rocking, are they not? It's the dow. Not at its peak in SpaceX, and come on, four kids are rocking Hackler. We've had a nice run in the [1:03:21] Mark: market, JD can't complain about that. [1:03:25] JD: So let's screw it up and put private equity in. All right, so check out this little 401 gay guy. He's all not gay guy. 401. [1:03:37] Justin: Wow. Guy, Brody and Slip. [1:03:40] JD: I have no idea. His sexuality. All right, it's just. Just a child. Just a child. All right, next one. Brandon. [1:03:48] Todd Harlow: Oh. [1:03:49] Chad: Oh. [1:03:51] Todd Harlow: Oh. [1:03:54] JD: Damn it. [1:03:55] Justin: Damn. [1:03:56] JD: Damn it, Damn it. Todd, this one's gonna go to you, bro. And I did not plan this. Sometimes I like to slide in the non financial services. Tick tock. The guy dropped his Jack Daniels in his Big Gulp. He's upset about it. [1:04:14] Mark: Driving while driving. [1:04:16] JD: How do you feel? Well, he'd be parked. He'd be parked. Maybe he's permanently parked. [1:04:21] Chad: He's in the Parking lot of 711 Getting ready to leave. [1:04:24] JD: Is that part of the joke? Todd, how do you. How do you feel about Jack Daniels in your big Gulp? [1:04:30] Todd Harlow: Dude, to say that I can relate to that. Because you're savoring. I. I'm a big storyteller. As you can. As you can figure out tell away that dude, that dude had his night planned out. And when that went awry he had these. He knew what places were open, what were closed. [1:04:53] Chad: He. [1:04:54] Todd Harlow: He was so perplexed. Dude, I, I really sorry you ask. Is this thumbs up, thumbs down? Like I can relate. That's yes. That. That dude. [1:05:05] JD: Let's go. [1:05:06] Todd Harlow: More of a panic. He kept it in the road as far as I'm concerned. [1:05:12] JD: I just. I just want to know Devin, does he got 16 ounces there and are two of those. [1:05:19] Mark: That's a good 20. [1:05:20] Todd Harlow: That's a good 20. [1:05:21] JD: I think. I think he needs a third Jack Daniels in there. Then in my. [1:05:24] Mark: Here's a no for dope coming back from the San Diego Padres game for me. I'm driving completely sober and I have someone in the back go. Hey, you want one of these? And it's a fireball shop. No for dope. That I said no. [1:05:41] JD: Wait, what time was it? [1:05:42] Todd Harlow: Yes. Yes. [1:05:43] JD: You take it. [1:05:44] Todd Harlow: And don't drink it. You don't kill the bug. [1:05:47] JD: Yeah, there you go. [1:05:48] Todd Harlow: Yeah. Dude, do not know. You take it. Yeah, that's a. That's a. Nope. You. You keep the vibe going. That's like, that's like. That's like. That's like ending the wave. That is like ending the wave in a stadium. [1:06:06] JD: Can I ask you guys an honest question right now? Brandon, we're still recording. Of course we are. All right, last I say let's. Let's forge. No, I was thinking like we're losing a lot of audience here. It's late. But I'm like, you know what? I got Hackler, I got Samson, I got Harlow. It's a party. If you guys are game. I'm saying let's just. Let's play with it. Brandon, do not stop the recording. Like keep it going. Okay. Play the next fin top. [1:06:38] Todd Harlow: Oh, yes. [1:06:40] Chad: Hi. [1:06:41] Mark: Hello. [1:06:42] JD: Diggity dog. Thanks for calling me on the telephone. Samson, we live in a digital world. Emails, what have you. I mean, digital girl, when I, when I see that, I get it. But are you a phone call guy? Will you take them? Of course, you usually know, are you happy? [1:07:03] Justin: But people, people know better when they call me because they're gonna be on the phone for a while. [1:07:09] Mark: Wait, so that's it. [1:07:13] JD: Can I counter you? And then I would love Will's vibe on this is. So that's my exact point. When you call me and I pick up the call, my concern is like, efficiency of time. And so this is gonna. I'm gonna sound like an. But like, even people who work, work for me or whatever. It's like, I got a lot of going on in my day and it's like, gotta surf. Yeah, watch the Lambo. And so if I take your call, it's like, yeah, yeah, yeah, blah, blah, blah, blah. It's 45 minutes later. Hackler. Am I wrong? I mean, you know, or you could sit in the car, listen to Taylor Swift while, you know, Samson talks to you. I mean, you can listen to T. Smith while you have a conversation. [1:08:07] Justin: If you're on the wrong end of the conversation, you can. [1:08:11] JD: That might be my fix right there. [1:08:13] Todd Harlow: Hold on, J.D. [1:08:15] Chad: real quick though. What if you ask like, your response to that person was question, question, question, question. You're talking about being efficient with time. That person may be like, it's so much easier for me just have a quick phone call rather than me spend 20 minutes responding to your email. Let's just chat through it. [1:08:31] JD: I don't know if I've run in. I had to do that yesterday. I don't know if I've run into that. I, I've ran into a lot of. Maybe we even have. [1:08:40] Chad: Some things are just easier to communicate rather than type it out. [1:08:45] JD: It doesn't come across well. Of course that is true. Of course that's true. And of course there's a place where a verbal conversation is way better. I'm just getting. And maybe this is the point of this type of meme is I'm just getting the point now. These days of like, God, I'd much prefer you just organize that in an email and I can just answer it. No, you don't answer emails. [1:09:06] Mark: When's the last time JD sold a plan? [1:09:08] JD: That and Devin, we're going to involve it. When's the last time? [1:09:17] Todd Harlow: Yes. [1:09:19] JD: Todd doesn't know that. But Todd, that's been a bomb for a while. And you're right, it's a great bomb and it's very true. But it now is evolved. Todd to win. [1:09:28] Todd Harlow: Disconnected hashtag. All right. [1:09:35] JD: Thought's not gonna let me get my punchline out. That's fine. Let's do the. Let's do the next one. We have another one, right? Not that drunk. Hey, can you send over the summary? Oh, here we go. [1:09:51] Chad: This week. [1:09:51] JD: Oh, no, different Kirsten. Here you go. Thanks, Bob. Okay, that worked. Nice. Can you send over the summary that I need for this week? Thank you. Hello. I hope this message finds you well. Please find below the summary as requested. If you need any further details or have questions regarding the summary, feel free to reach out. I'm happy to provide additional information or clarification as needed. [1:10:29] Chad: Thank you. [1:10:30] JD: And I look forward to your feedback. Devin, I'm not asking you. I'm going to just silent jam. Not asking you. Yeah. AI for emails. Good, Bad. What the. [1:10:44] Todd Harlow: I love it. [1:10:44] Chad: For me. [1:10:45] JD: You like it? It's working. Well, are you avoiding these pitfalls? [1:10:49] Chad: Well, I mean, not all the time, but if, if you gotta just. If your brain is fried and you're like, ah, how am I gonna respond to this co pilot? How should I do this? [1:10:57] JD: You're like done them. If they get a longer. You know, that's. I can give two shits. [1:11:02] Chad: I'm still gonna go in and I'm gon bit, you know. [1:11:06] Todd Harlow: Mute. [1:11:07] JD: Mute. Todd Samson. [1:11:09] Mark: What the. [1:11:10] JD: You and your team. You and your team. Chad. GPT. AI for emails. [1:11:16] Justin: No way. [1:11:17] JD: No way. [1:11:17] Justin: Not yet. [1:11:18] Mark: What? [1:11:19] Justin: Not yet. [1:11:19] JD: What do you mean? This is personal. [1:11:25] Todd Harlow: I'm going to another golf. I'm going to another golf. Modify it. It's modified. You don't go full. There's a statement about golf. If you're not playing high tech, you're either stupid or poor. And the point is you don't go all the way. You go hybrid where you, you leverage it smart like, like, come on guys, like you're stupid or poor. Like you can't just ignore the fact that it can help, but you can't go all the way there. Come on, let's, let's. Let's get smart here. We're good. [1:12:00] JD: God, that's fair. JD started the story with splintering a steel shafted 53 degrees. [1:12:08] Mark: By the way. [1:12:11] Todd Harlow: To your point, Will, there's more to this story. Is that even true? I mean, come on. [1:12:18] JD: Was. [1:12:19] Todd Harlow: Did he lay the sod over it and he hit it on the edge? [1:12:24] JD: I mean, straight at the flag, Will. Hackler AI emails. I mean, Todd just made a great point. Like of course figure out where you're gonna dial it up or down. She gave an example that was dialed way up. Thank you, Todd, for exposing the dumbness of TikTok. But it is a problem. Like a lot of people. Look at Devin right now if you can. He uses Aida. Write a lot of his emails. [1:13:02] Todd Harlow: You can't stop it. You can't stop it. Devin and I are talking offline. This is happening. [1:13:08] Mark: I'm gonna email you 100 and it's gonna be AI that emails you. [1:13:13] Todd Harlow: And you know what? [1:13:14] JD: I'm gonna talk to each other. [1:13:16] Todd Harlow: You can, you can hold your baby up all day long. I'm still gonna go dark. You gotta. You get all the smoke, dude. It is what it is. [1:13:24] JD: Where are you at on. On AI with email? Sorry. I mean, I haven't used it yet. It's just like. Because, you know, like you. [1:13:33] Mark: I don't answer a lot of emails. [1:13:35] JD: Yes. And when I do, it's here you go, reply back. I don't think so. [1:13:42] Todd Harlow: Here's what I will tell. Here's what I'm going to tell the group. [1:13:44] JD: I don't need AI to say to Samson, screw off, buddy. [1:13:50] Todd Harlow: The people that are on this call are forward thinkers. I'm not stroking anyone. I'm being honest with you. I will tell you. It has taken my overly verbose ass. That is also overly challenging, as you can tell, overly ranting. And it curbs it if you are not running. I'm not saying fully automated. It has fundamentally changed. It's like a friend, for Christ's sake. I need to name the thing. My. I. I refer it as my bot. I'm just saying, Guys, I'm. JD disclosed his. Yeah, I'm 55. Guys do it. Not Justin. I know. Justin's still on the call. Devin, I know you're all in. You're too dumb. I'm too dumb. Devin. I'm just saying we all need to embrace the humility that says we need to get better by any means necessary. And if you're not trying anything, we should all try it. And I'm telling you, fake it till [1:14:55] Mark: you make it, baby. Fake it. [1:14:57] Todd Harlow: I'm just telling you, like we. I'm so stunned at how many people are shunning this. And I will leave anyway. So good. [1:15:08] JD: No, that's actually great. [1:15:10] Mark: I mean, it's a great point. [1:15:12] JD: I was gonna make a joke, but then you actually tapped into the serious mode. Like, of course, obviously. I don't know if Todd knows this. I know. Will and Jim know. Like, I. I spend most of my Days focused on AI with Tony and what we can do. But, hey, you guys want to talk about. You guys want to talk about another headline? Future Plan launches PEP with Wayne. No, no, I'm kidding. We're not gonna do that. Ding, ding, ding. [1:15:41] Chad: Yeah. [1:15:43] JD: Oh, okay. Okay. Are we. Are we actually gonna keep. Okay. What. Justin, what do you got? [1:15:53] Chad: I got, like. I got seven minutes. I gotta get out of here. [1:15:55] JD: Okay, well, no. [1:15:57] Chad: No hockey. [1:15:58] JD: Well, then let me ask you this then, because I feel like these three guys will stay here. This is literally. This is just for us. This is not for anyone else. I'm looking at you. Let's go to the pep. I'm gonna send this straight to Samson. Future Plan Voya launch. I'd send it again. I'll drink again. Following me on this floor plan. [1:16:22] Mark: I got you. [1:16:23] JD: Yeah. A pool and player plan. And let me go down to the sentence I want to read to you. God damn it. Where the is it? [1:16:35] Todd Harlow: Admit that we think PEPs are kind of like. I get. [1:16:38] JD: No, no. Drink, drink. But no, stop. Here we go. This PEP run by Future Plan, also known as a census. And Voya and Mezro. Okay. They're bringing together a coordinated group of experienced retirement industry providers, which I just mentioned. [1:16:59] Todd Harlow: I know. Keep going. [1:17:01] JD: Yeah. And this is what I want. James on. And then we'll bring it along. Voyagem will serve as the record keeper and the Trustee, Mesero will provide 338 investment fiduciary services. Okay. Future plan acts as the P14, the TPA and. [1:17:28] Mark: Nope. [1:17:29] JD: The 316 administrator. So you've heard me rant about this on this show before, and that was my original intent when I put this out there today, to be a topic. It's just us now. But this is not what the government wanted. [1:17:45] Justin: Like, no. [1:17:45] JD: What? They're gonna be the. They're gonna be all three of those things. How does it even work? Tell me I'm crazy. [1:17:53] Justin: No, you're not. It's absurd to have one of those entities serving in a bunch of those conflicting roles. [1:18:00] JD: That's especially the ppp. [1:18:02] Justin: Not supposed to work that way. Now, if you had an independent pool plant Provider. [1:18:11] Mark: Provider. [1:18:11] Justin: Yeah. If you had an independent one of those. [1:18:14] JD: And how often are we seeing that? Jim? Don't. Don't tell me I'm right. Is that out there? Is it happening? [1:18:23] Todd Harlow: No. [1:18:23] JD: Yes. Yes. [1:18:25] Mark: The answer is yes. [1:18:27] JD: Shut the up. Yeah, it is happening. The answer is yes, it's out there. [1:18:31] Justin: So, jd, don't think a lesser of me. [1:18:34] JD: No. [1:18:35] Justin: We built a pool Plan where. [1:18:39] JD: Hey, Jim. [1:18:41] Justin: However. [1:18:43] Chad: Right. [1:18:44] Justin: By the way, have you seen what Empower is out there hawking to the marketplace where they've got American Trust and Custody Services as the food plant provider. They're the record keeper. You can plug in any t. Third party drink for me and. And then any advisor to serve in that 338 rule. [1:19:08] JD: Yes. Yeah. [1:19:09] Justin: You know where Empower got that idea? Me, I started. Oh, of course they took that. Ask anybody at Empower. They will tell you they're my concept and they're now mass marketing it. Now, it's not why I designed it that way. [1:19:25] Mark: I'm calling Orlando right now. [1:19:27] JD: Okay. [1:19:28] Justin: Like you would know. Yeah, but that's what we did. We. We built this thing. And I built it because generation. Generation 1.0. These pool plans is complete trash. It's garbage. And I tell all our clients and prospects all the time, we took it to the next level where it's now got independence everywhere. Everybody has their one role. Nobody's trying to do a job they're not supposed to. [1:19:57] JD: Jim, Jim, Jim, Jim. Can we do a little fist bump here? I'm gonna got you, brother. I'm coming up. I'm coming up. So. Yeah, that way. [1:20:05] Mark: So yay or nay or empowering boy is American tcs. [1:20:10] JD: It's not about that. Really. Devin, you're such a sales guy. Like, get out of mode for a second. [1:20:16] Mark: No, about anything else. [1:20:20] Justin: Your question. As long as you've got the people doing the jobs that they're meant to be doing. [1:20:25] JD: Yeah. [1:20:26] Justin: And everybody. There's checks and balances and there's transparency and you don't have the overlapping. Like Aeon. [1:20:34] Mark: Perfect. [1:20:35] Justin: They got. They're doing everything. And it's like, how would you ever want to use that? It is the fox in the hen house. You can't have that. [1:20:42] Mark: Yeah. [1:20:43] JD: Devin, give me. And Justin, if you need to chime in over here, like, give me the landscape of the Voya and the Empower thing. So who's the. Who's the 316 there? So empower. [1:20:56] Mark: Empower. I will say, from what I understand. Justin, please, by all means, chime in. You know, here, go ahead. [1:21:04] JD: No, go ahead. [1:21:05] Todd Harlow: Oh, all right. [1:21:06] Mark: So if Empower. Listen to Jim. Thank you, Jim. Because there have been multiple proposals, I would say that in the San Diego market, I have lost to the pool plan provider method because I do truly believe in what you guys believe in. Like the whole checks and balances is what a standalone plan has. And if you're going to the pool plan provider side you should also have those checks and balances. However, Empower was what I know. The first to market. Voya was second. [1:21:43] JD: But very similar. Right. [1:21:45] Mark: They're the same thing. [1:21:46] JD: It's American ccs. [1:21:48] Mark: It's the record keeper. [1:21:50] JD: It's the same thing. Samson knows it. He knows it. Yeah. [1:21:54] Mark: So what do I think? I think I want to sell them. I want every. As a salesperson. I want. I want every. Everyone. [1:22:02] JD: I want my cool belt. I mean that's probably for. [1:22:05] Justin: Of course. [1:22:06] JD: Of course. Of course. You want more arrows in your quiver. Of course. I get. I get that. I get that. What I was trying to find out is, is that as stinky as this other. Who's the 316. Who's the PPP in those scenarios? Can we. [1:22:21] Chad: So American TCs. [1:22:23] Justin: Yeah. [1:22:24] Mark: Yeah. [1:22:24] Justin: American TCF serves as. As both. [1:22:27] JD: Both. And that's not a total violation. That. [1:22:31] Mark: It's close. Yeah, that's getting there. [1:22:34] JD: No, no, but that. [1:22:35] Justin: But they're not the. They're not the third party administrator. [1:22:38] Mark: Correct. [1:22:38] JD: Right. [1:22:38] Justin: So they're not monitoring their own. [1:22:40] Mark: They're also not the advisors. [1:22:42] JD: No. [1:22:42] Mark: God. [1:22:43] JD: Samson, where do you. Where do you live, Samson? [1:22:46] Justin: Boston. [1:22:47] JD: Okay. I'm in Minnesota. I could fly to you right now and we could. We could spend. [1:22:52] Justin: We're gonna snuggle tonight. [1:22:53] JD: Yeah, yeah, yeah, yeah. No, so. Okay, okay, so I get that. Okay, so we'll just wrap it. This, this press release, a future plan and a census with FOIA and mesmerize. It's just more of the same I've been hearing about forever. Todd, of like, great, you guys got in a boardroom, you made a business deal because you think you have what. What drives all of this? Distribution. Because. Oh, you have distribution. We're going to be able to sell this. These people. Great. We're gonna make a lot of money. Let's do this. And then they just. Total disregard for like what this was all meant to be. But I'm. Todd, I'm not gonna have you like finish this off with a rant because I gotta wrap this. Because Brandon's recording because I told him to. So. The chapter champion tonight is Jim Sampson. Congratulations, you're right here on the show. And Jim, if you've seen this, I'm sure Hackler's paying attention to it. Brand's working a new thing, so it's on the Internet. There's gonna be a tally and we're about to figure out a amazing prize. And when I say amazing prize, Hackler knows we're not around because he won and we delivered. He got some cool. So we're gonna do something fun this year, too. [1:24:17] Todd Harlow: There is swag that is awarded. It's not digital, is it? Digital swagger. [1:24:24] JD: A couple more Zins. Yeah. Todd, I love your Zins, my son. [1:24:34] Chad: I don't know if it's the Packer. His Internet. That sucks right now, but I can't understand him. [1:24:37] JD: Well, I just. [1:24:38] Todd Harlow: No, no, I gotta dip in. My point is, is it real? [1:24:41] Mark: It's called the Red man, and you [1:24:43] Todd Harlow: pack it with double bubble. [1:24:46] Chad: No. [1:24:47] Todd Harlow: By the way, you know who used to do that? If you. If anyone gets this one. This is a bonus on the. Tony Pena. If anyone knows who Tony Pena was. A baseball player. [1:24:59] JD: No, no, not Padres. [1:25:00] Todd Harlow: No way. [1:25:01] JD: I remember that. [1:25:01] Todd Harlow: But you knew Tony. [1:25:04] Mark: Tony. No, no, he was on the Red. [1:25:09] Todd Harlow: Tony Pena was a old. It was a. Mostly a. Was a Pirates catcher. And he did that leg. He did the leg kick out, which was like, oh, he's got a news dance. And he would wrap the Red man ball in gum, and it looked like a baseball. [1:25:26] Justin: Right. [1:25:28] Todd Harlow: There you go. [1:25:29] Justin: Francona did that, too, when I. [1:25:30] Mark: When I was in the Marine Corps. [1:25:33] Todd Harlow: Jim. Good call. Good call. I don't know who originated it. I'm not going that far. But anyway, sorry. So I hijacked it. [1:25:42] JD: I'm out of mixer. Todd, I. God damn it. I love you. I am. I. I used to dip Kodiak. Does that make sense to you? Yeah, yeah, yeah. So I did Kodiak. Hold on. Time out. No, no, no. And I did. I would literally go surfing and come in from the beach. We would do this. Me and my surfer buddies in California, we'd throw in a dip of Kodiak, spit it. And I got married. And about. I think it's like. I want to say three weeks. It's probably, like three months. And my wife was like, yeah, you're gonna stop. [1:26:22] Todd Harlow: And that's when the power struggle ended. And that's why he is. [1:26:28] JD: That's why Todd is still single. Todd, I. I bitched out on that one. I've held my ground on lots of other areas, but. [1:26:36] Todd Harlow: Oh, have you? There's zero evidence. Zero evidence of that. [1:26:43] JD: Who bought that toilet? Is the question. I have no idea why I'm trying to end this show like a normal show, but I'm gonna do it. [1:26:55] Mark: Yeah. What are we doing? [1:26:56] JD: The chapter champion with Jim Sanson. We. We talked about this. We said it's gonna get a great prize. The 4.1k expedition series is still happening, and we're on 3 of 5. This is an A to Z for dip shits. Not like Will. Not like Jim. I like Todd. If I just. Oh, don't know what they're doing. Let me finish. Shut the up. And they are learning. And the next One is on July 7th at 10am Pacific. And you can register at plandesign.com 401K, Hyphen, Exp. And Buck. Oh, no. We're gonna do this. Brandon, you're ready because he's here. I'm supposed to thank the audience. I'm supposed to thank our guests, which I will do. Will. I love you, Todd. Go ahead, Devin, spit it out. [1:27:49] Mark: I want to know actual feedback. If Todd or Jim or will the actual people in the industry watch our expeditionary series and. And how well we do on that. I want to know is it. Is there things that we can do at PDC to change edit? [1:28:09] JD: You are communicating. Oh, you are so sales right now. [1:28:12] Mark: I don't give a. Dude, [1:28:16] Chad: I have [1:28:16] Mark: one thing to do, and that's talk to advisors. That's my job, to talk to advisors. [1:28:26] Todd Harlow: Someone has to pay the bills. It's not a rant. I'm telling you. I don't give a. Who's online. I'm gonna tell you, I've watched enough of the shows to say that even if there's just a few people like we have right now, I don't give a. I don't care. If there was six people, 6,000. I don't care. Here's the deal. We are advancing the ball. There are first downs being made, and this is where it starts. And I honestly, there's. I'm not being paid to say this. I honestly. Thank you for. So Devin and [1:29:04] JD: Silent Chance. [1:29:06] Chad: Let's go. [1:29:06] Todd Harlow: Let's go, Justin. Jim. Jim and Devin are going to get more for me. But what I'm saying is the more people that we can rally around the coordination of where this thing needs to be is it. And jd, you inadvertently, you. You know, you probably didn't even know it, but you've done that. And I'm telling you, I. I'm. I'm your biggest fan. And. And I. Yes, there's a part of me that does want to be an uninvited like. Like Dave Portner. Like, I want to be part of the regular show, if I'm honest. Here's the deal. Because Entertainment is number one. Entertainment's number one. Let's cut the. I told my wife that. Are you gonna be on the show? Yeah. Are you gonna talk about Hero7? Probably not. Probably not. I don't care. I don't care about the broader exploration of the advancement of where we're going. Exactly. And so the people. You are. You are. You are consistent with that. And to me, one of the best parts is the guests that actually believe that they're gonna get to talk about their. Whatever the it is. That, to me, is the waiting for Guffman moment. Like when you watch, like, a Senate live or something, where they actually believe, like, here we go. You actually think you're gonna move the needle. But. But you have to have the balls to do something about passion, about that. And mark my words, one day someone's gonna say, jd, did you know you were going to do the industry? And someone's gonna say, I wanted to make people laugh. And I'm telling you right now, I think the formula is there. I'm supporting it. And the more. And yes. Am I kind of lobbying for my own role in sensatory. [1:31:05] Mark: Yes. [1:31:06] Todd Harlow: Last. Last point. Last point. I cannot. [1:31:09] JD: Okay, you had a point. [1:31:11] Justin: Somebody play the Oscar. [1:31:13] Todd Harlow: Yeah. [1:31:13] Chad: Land the plane. [1:31:14] Todd Harlow: The fact that Chad and the fact the chat. The fact that Chad and Mark did not clock in with a fan [1:31:27] Chad: award. [1:31:30] Todd Harlow: You laughing. Send it to the group chat right now. [1:31:34] JD: Hold on. Brandon, can you please clip that for a future thing? We need the. You need the whole Chad and Mark thing. Like, that needs to be clipped. [1:31:42] Todd Harlow: I'll say it again. You want me to say it again? [1:31:44] JD: Yeah, Five more times. [1:31:48] Todd Harlow: All right. [1:31:49] JD: The fact that Chad and Mark are [1:31:51] Todd Harlow: at the hallmark of an alpha male industry based around golf, if we're honest, that did not clock in to give us an update on the member guest, which, by the way, is the super bowl of golf for men, by the way, and did not give us an update is the most gutless move I've ever seen. They literally. It is a fireable offense, in my opinion. I'm going on record. It's. That's it. Boom. [1:32:20] JD: Fired those guys. [1:32:25] Justin: Oh, man. [1:32:26] JD: Oh, my God. Oh, my God. [1:32:30] Justin: Oh, my God. [1:32:31] Todd Harlow: Oh, my God. [1:32:31] JD: Okay, okay. All right. We're about. We're gonna end. I was. Brandon, can we give Jim Sampson thanks and then end for the LinkedIn post that he did? Which this will be the, you know, emotional moment of Samson Sampo. Like you. You know what? This is appropriate. 8. I love the way the world works. We don't need people here for this. This should be personal. You post on LinkedIn and you've got all these people lined up that met in the chat bar and are part of our vibe and in our family. And when you guys see each other in the real world, you connect to me. Like, hey, man, we're. This is Chap. Our championship. We're like, retireaholics. Let's do this. Obviously, Hackler's not there. There's several others, Webby. People that are, like, real core people. You know what I'm trying to say? So I'm sorry that I'm drunk and I'm saying it, but. Yeah. No, no, no, no. It's. It's more than we love you. It's like. It's kind of like they're here right now. Hackler, Samson. Sorry, Todd. You don't qualify. [1:33:46] Todd Harlow: Okay. [1:33:47] Justin: Yeah, we still work to do, but he'll get there. [1:33:49] JD: Yeah. Yeah, Todd, you gotta show up every couple weeks. We did this together, and it's kind of cool, and it's fun. It's part of our work, and we've got this vibe, so I love you for that, Samson, for you putting that up there. And I'm so stoked. It's not us. It's that this happened. It's organic. It was not a plan. I guess that's my point, right? This was not a plan. I did not plan out the chat bar. It just happened. I will tell you right now, I [1:34:18] Mark: watched probably 2000 of Joe Rogan's 2500 episodes. He says the same thing, J.D. like, when you're authentic and you know that you know what you're doing, people are going to watch, and people are going to be entertained. I. I'm entertained every Thursday. I'm not a part of the show. I'm super honored to be on here. But it is. It is a cool thing to watch our industry kind of communicate the way that we do what we do, and. And the advisors that I meet that know the retireholics. Thank you, Brandon. But that know you guys as the retireholics. [1:35:02] JD: I think it's cool. [1:35:03] Mark: I think it's awesome. [1:35:05] JD: We still have a couple more people that are hanging on to piss off. I'm trying to get to zero. [1:35:12] Todd Harlow: Right? [1:35:13] Mark: We're gonna record the whole thing. [1:35:17] JD: I really appreciate that, Devin, but I wasn't even talk. I wasn't even talking about us. What I meant was, honestly was, like, beyond that, the chat bar became a thing on its own, and it's cool to watch, so. [1:35:29] Mark: But that's a part of us, and I will say. [1:35:42] Justin: So. [1:35:42] JD: We are changing the entire implant industry one beer at a time. And this is episode number 269. 69. And tune in next time. Peace out. [1:35:59] Todd Harlow: We're gonna crush it. We're gonna crush it. [1:36:05] JD: That was delivered by a messenger this morning.