Rachel Duncan and James "JT" Thompson: Service Expectations and Culture

Be More Than A Fiduciary

About Rachel Duncan: Rachel is the Vice President of Relationship Management at Retirement Plan Services, overseeing the mid/large market client relationship team and ensuring a robust client experience for Lincoln Financial Group's top clients. With 23 years in the industry, she joined Lincoln Financial in 2001 after teaching 6th grade in Virginia. Rachel holds a bachelor's degree from Duquesne University, is FINRA Series 6 and 63 registered, and has several professional designations, including AIF®, CRPS®, and CRPC®. She is based in Argyle, Texas.

About James Thompson: James is the Vice President and Head of Participant Engagement at Lincoln’s Retirement Plan Services. He and his team work closely with plan sponsors and intermediaries to provide personalized service for financial wellness and top retirement outcomes. With over 20 years at Lincoln, James has held various roles, including Assistant Vice President Participant Engagement and Regional Vice President Institutional Retirement Distribution. James holds a bachelor's degree from Bellarmine University, where he played baseball. He is FINRA Series 7, 66, and 24 registered, and holds CRPC and CMFC designations. Based in Louisville, KY, James enjoys outdoor activities and is a dedicated Louisville Cardinals fan. He lives with his wife, seven children, and two grandchildren.

In this episode, Eric, Rachel Duncan, and James "JT" Thompson discuss:

• Practicing exceptional service
• Executing targeted interventions
• The optimal retirement education standard
• What are the key aspects of a successful 401(k) plan?

Key Takeaways:

• Exceptional service involves responding promptly, taking ownership, and being proactive from the outset, in contrast to the prevailing poor service standards. Plan sponsors being engaged, open-minded, meeting regularly, and maintaining collaboration is key for successful client relationships and outcomes.
• Focus on identifying gaps in participation, deferral rates, and income replacement ratios across different employee demographics to drive overall success through targeted interventions.
• Optimal retirement education combines recordkeeper and advisor capabilities through coordinated efforts, leveraging recordkeepers' dedicated consultants with significant expertise solely focused on retirement planning.
• Key aspects of a successful 401(k)/403(b)/457(b) plan include a strong corporate culture, monthly meetings, well-defined success metrics, engaged retirement consultants providing education, and a reputation for excellent service.

“Nobody's perfect, but when you make a mistake, are we holding ourselves accountable? Are we owning that mistake and fixing it with urgency and making sure that we do right by our clients?” - James "JT" Thompson

Connect with Rachel Duncan:

LinkedIn: https://www.linkedin.com/in/rachel-duncan-aif-crpc-crps-63217251/

Connect with James "JT" Thompson:

LinkedIn: https://www.linkedin.com/in/james-thompson-789a3517/

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: [phone]

Email: [e-mail]

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.

The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.