Kevin Mahoney: Stewardship Reporting and Practice Management

Be More Than A Fiduciary

Kevin has dedicated his career to helping people prepare for retirement. He assists corporate plan sponsors and their committees in meeting fiduciary responsibilities while guiding employees toward their financial goals.

With over 25 years in financial services, he is a Certified Investment Management Analyst and Accredited Investment Fiduciary Analyst. His expertise spans corporate retirement plan design, implementation, and distribution.

Before joining Raymond James in 2015, Kevin spent 24 years at Merrill Lynch. He holds a bachelor’s degree from Fordham University and is an active member of several professional organizations, including the Investment Management Consultants Association and the Society for Human Resource Management. He also serves on the leadership councils for the National Association of Plan Advisors and The Retirement Advisor Council.

Kevin is deeply committed to community service, currently serving on the Board of Directors for Rockland Hospital Guild and the Finance Committee for United Hospice of Rockland. He previously held leadership roles with Meals on Wheels of Rockland, St. Margaret of Antioch Church, and the Boy Scouts of America.

His contributions have earned him notable recognition, including Meals on Wheels Business Man of the Year (2015) and the Fordham University Community Leadership Award (2016). He has also been named to the Financial Times 401: Top U.S. Retirement Advisors annually since its inception.

In this episode, Eric and Kevin Mahoney discuss:

• The benefits of thoroughly documenting service hours
• Ensuring consistency in delivering value
• Exercising caution when benchmarking services
• Engaging in holistic retirement planning

Key Takeaways:

• Thoroughly documenting the time and effort spent servicing each client is an important process for advisors who want to truly justify their fees, enhance client retention, and identify both high and low-value engagements.
• Establishing a fiduciary training program, detailed service plans, and accountability measures is essential to ensure advisors consistently deliver value commensurate with their fees.
• Benchmarking services and fees against industry standards is vital, but advisors must exercise caution in data input to avoid erroneous conclusions regarding fee competitiveness.
• Advisors should engage in holistic retirement planning, including employee education, to succeed in the industry, while committees must scrutinize advisors' processes and pricing to meet fiduciary obligations.

“If all you're speaking to is investments. You're going to struggle. You need to talk to the plan holistically. You need to talk to employee education. And you have to be committed to the best interest of the participants. And if you do that, I think there's staggering upside potential.” - Kevin Mahoney

Connect with Kevin Mahoney:

Website: https://www.raymondjames.com/mahoneygroupadvisors/

LinkedIn: https://www.linkedin.com/in/kevinmahoneytmg/

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: [phone]

Email: [email protected]

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

The information and content of this podcast is general in nature and is 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.