It’s no secret at this point. I love rap and hip-hop. One thing I love the most about it is one of the subcultures embedded in it - Freestyle rapping.
In this week's newsletter, I’m going to freestyle ideas.
I want to do it this way because, at the beginning of the week, I had plans to dive into deeper detail on slide three of my presentation of what I thought were four questions and answers people should know about me.
First, I believe people best position themselves to accomplish their goals when they can clearly visualize what they want to achieve in retirement, and second, whether they are seeking comfort or optimizing their capacity.
By Tuesday … not by a long shot … I was waist-deep in institutional wealth management.
Sometimes it is like that. Sometimes you have to freestyle the week.
Here are some additional thoughts about institutional wealth management …
Note 1:
Diversifying Regulatory Risk for Plan Sponsors ...
The three primary goals when I assist investment committees/fiduciaries with their company's retirement plan are:
Attract and Retain Talent.
Improve Participant Outcomes.
Mitigate Employers Liability.
Inside the "Mitigate Liability" toolkit, a general strategy is to lower a company's liabilities by diversifying its responsibilities. ERISA has a unique set of codes - 3(16), 3(21), and 3(38) - allowing companies to insulate themselves from potential liability by using prudent processes, and hiring a specialist to fill each capacity offers different layers of protection.
Moreover, inside the "Our Process" box, investment committees can be most creative when optimizing their company's retirement plan.
This blueprint is actually a work in progress, but this is certainly a concept I would like to pass on.
Note 2:
There's no way to know for sure, but here is my basic thesis for the future of C-Suite ...
Institutional retirement benefits will become a growing conversation. My understanding is that the tech sector is going to look different and have different demands for labor. The excess skills will look for a home only if the right incentive is there.
Yes, Qualified Plans are great tools, but the craftsmanship in the Non-Qualified plan structures will attract that talent.
In my personal opinion, that type of talent is necessary to stay competitive or to keep an advantage.
I believe Sam Altman referenced that in this video below.
I agree.
Let me know if you want to have a deeper conversation about this.
Note 3:
Clearly, I’ve been trying to make the connection that the C-Suite capabilities will change significantly because of Ai.
In the past, most executives were the network they could bring to a company/organization. Technical skills barely matter.
(This showed in a bad when I was working for other firms. Soft skills didn’t even matter that much … many didn’t even have that. To me, it had to come down to one thing - network.)
Well, the formula is going to change. It will happen in one of two ways. Talent will infiltrate and re-engineer operations that are basically ma and pa operated but makes $25 Million in revenue.
Companies like this are littered everywhere, but it would be a $50 Million operation if there weren’t the amount of spurious activity that exists in organizations like this. If you moved a little more upmarket, say, companies that earn $100 million, executives seek credit for building something or putting a company’s logo on things (i.e., charity event, sports arena).
I believe the new executives will also require the ability to build tools over the tools and resources provided to them. And through this practice, they will have the capacity to reduce overhead by a considerable factor.
The other way a set of them will team up and do it through disruption.
(This thought is for the incumbent businesses.)
Note 4:
Clearly, I'm excited about the new #ai movement.
I'm just as enthusiastic about #startups.
Don't forget, however, there's plenty of capital to refine inside current companies/organizations.
Note 5:
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