Description

Matthew Patrick is a senior manager on CAPTRUST’s Defined Contribution team. Matt joined CAPTRUST in 2014 and serves as a senior manager on the defined contribution team. His role encompasses the strategic planning and leadership of the team that manages CAPTRUST's discretionary services for defined contribution plans. He holds a Bachelor of Business Administration degree in finance from James Madison University and is a member of DCIIA. Matt holds the designation of Chartered Retirement Plans Specialist℠ (CRPS®).

In this episode, Eric and Matthew Patrick discuss:

• Personalizing investing effectively
• Measuring success by outcomes, not benchmarks
• Applying a documented fiduciary framework
• Prioritizing transparency in provider selection

Key Takeaways:

• Managed accounts tailor portfolios using plan and participant data, often combining core and non-core funds. Their true value comes from thoughtfully aligning the portfolio design with participant needs and plan demographics.
• Traditional benchmarking struggles when each participant has a unique portfolio. Committees should evaluate fees, engagement, and behavioral changes like savings rates and retirement readiness to gauge meaningful impact.
• DOL target-date guidance provides a practical model for evaluation. Committees should review methodology, underlying investments, fees versus value, fiduciary roles, and plan fit, while thoroughly documenting their rationale and process.
• Managed accounts can be offered by third parties, recordkeepers, or advisor-managed structures. Committees must clearly understand payments, fiduciary responsibilities, and ensure the sponsor actively engages and oversees participant outcomes.

“You’ve got to start with best fit. You’ve got to start with appropriateness.” - Matthew Patrick

Connect with Matthew Patrick:

Website: https://www.captrust.com/ 

LinkedIn: www.linkedin.com/in/matthew-patrick-39759555 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com 

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

The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.

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, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.

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.

The opinions expressed by guests are not necessarily agreed by, or the same opinions of 90 North Consulting or of Eric Dyson.