2023 was a volatile year for the financial markets. As we start the new year, retirement plan sponsors and fiduciaries are looking for confidence in the management of their plans from experienced professionals.

In a recent interview, Casey McKillip, MBA, CPFA™, AIF®, a senior retirement plan consultant at Aldrich Wealth, discusses these challenges, how Aldrich Wealth supports its clients amid uncertainty, and the qualities fiduciaries should look for in an advisor. For the fourth consecutive year, Casey was named to the NAPA 2024 “Aces” list: Top 100 Retirement Plan Advisors Under 40,* which is widely regarded as the future leaders of the retirement plan advisor industry.

Casey: In 2023, market uncertainty and economic fluctuations impacted our clients and their employees. Concerns about a potential recession created new threats for business owners while labor markets stayed tight, and inflation strained employees’ budgets. The Aldrich Wealth team maintained close communication with clients and proactively addressed the risks they faced. Because our clients trust us, they listened to our advice and maintained a disciplined investment approach with stable contribution levels even as markets remained volatile.

Casey: Our biggest challenge will be keeping individuals focused on long-term goals amid short-term volatility and uncertainty. The market has a mind of its own, and we must maintain discipline in uncertain times to drive positive outcomes.

On the other hand, retirement plans face a wave of new regulations, such as changes to the audit requirements and additional tax credit incentives, that can benefit fiduciaries. More flexibility and evolution in marketplace offerings create new opportunities for our business model, such as possibly serving smaller plans at a competitive price point. As industry experts, we are well-positioned to add value and guide clients through this evolving landscape.

Casey: Successful partnerships start with engaging knowledgeable experts who genuinely care about clients and their employees. At Aldrich Wealth, we uphold client trust by operating as true fiduciaries and prioritizing ethical conduct over immediate financial gains. Responsiveness is also crucial—our clients know we will support them even in the most challenging times.

Casey: Fiduciaries should align their choice of advisor with their companies’ goals and how they want to achieve them. We always encourage fiduciaries to look for an expert in the retirement plan space, as opposed to a typical financial advisor. Expert guidance will mitigate risks while driving positive outcomes for clients in an ever-evolving landscape.

Casey: I am honored to receive this recognition for the fourth time, acknowledging not just my efforts but the collective dedication of the corporate retirement plan (CRP) team at Aldrich Wealth. Their contributions, alongside our clients’ support, make this achievement meaningful. In addition to our CRP team, Aldrich’s overall range of services further strengthens our ability to provide comprehensive solutions for our clients’ needs.

* Third-party rankings, recognitions, or ratings do not ensure any level of success or results. Unless otherwise noted, no fee was paid for consideration of any ranking or award.