Podcast
Be More Than A Fiduciary
Hosted by Eric Dyson · EN
Serving as an ERISA fiduciary is not just an honor and a privilege; it is a profound responsibility intertwined with the essential qualities of stewardship, governance, and leadership. Eric Dyson, the Executive Director of 90 North Consulting, dedicates each week to engaging with individuals who are deeply committed to achieving excellence beyond the traditional fiduciary role. If you are a member of a retirement plan committee, a plan fiduciary, or an ERISA advisor genuinely dedicated to enhancing the retirement prospects of hard-working Americans, then this podcast is tailor-made for you. Whether you relish in-depth interviews with industry experts discussing crucial topics or seek concise tips for fiduciary best practices, More Than A Fiduciary is your go-to resource. Tune in and elevate your understanding and performance in this crucial domain.
14episodes
Episodes
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FF5 #108 - Flexibility and Accountability Can Coexist
3w ago00:09:29Tap to summarizeIn this episode of Friday Fiduciary Five, Eric Dyson talks about lessons learned from public comments on the Department of Labor's proposed guidance for investment selection in defined contribution plans. He outlines eight key principles for fiduciary decision-making, emphasizing the importance of defining problems, balancing process and purpose, using examples to inform rather than dictate, and integrating checklists with judgment. As the title implies, this week he discusses flexibility and accountability and how they can appropriately coexist in a prudent governance framework.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com 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 of 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.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.
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Carol Buckmann: The Intelligent Fiduciary
3w ago00:44:24Tap to summarizeMost fiduciaries are handed enormous responsibility with almost no practical training. In this episode, you’ll learn what it really means to be an “intelligent fiduciary” — and how to move beyond box‑checking to truly serving participants while protecting yourself from litigation.In this episode, Eric and Carol Buckmann discuss:Fiduciary training gap under ERISA and why it mattersThe three core traits of an “intelligent fiduciary”Practical RFPs and monitoring service providersProhibited transactions, 408(b)(2), and Cunningham v. CornellService provider myths and emerging risks in welfare benefit plansKey Takeaways:ERISA plan fiduciaries are held to some of the highest legal standards despite having no built-in requirement for training, which creates a potentially dangerous knowledge gap for committee members.An “intelligent fiduciary” is committed to best practices, prioritizes participants’ interests above all else, and stays current on legal and investment developments.Regular RFPs and systematic evaluation of service providers are not optional extras; they are core fiduciary functions that often require outside experts to do well.Prohibited transaction rules are highly technical, and even arrangements that feel “fair” can be violations if they involve related parties and don’t fit within an exemption.Welfare benefit plans and pharmacy benefit arrangements are becoming hot targets for litigation, making it increasingly important to have clear governance, disclosures, and specialized oversight.“You can't be an intelligent fiduciary if you don't engage outside experts when you need them.” - Carol BuckmannCarol Buckmann is a co-founding partner of Cohen & Buckmann p.c. and Chair of its Fiduciary and Plan Governance practice. With more than 40 years of experience, much of it at major law firms, she is widely recognized for her expertise in plan qualification and design, fiduciary responsibilities and investment fund formation, advising global and U.S. companies on complex problems. Carol writes for the firm’s blog, Insights, contributes to Bar association comment letters and industry publications such as Law 360, Practical Law, and LEXIS Practice Advisor, and speaks frequently at industry events. She serves on Worldwide Employee Benefits’ National Board and Law 360’s Employee Benefits Advisory Board and has written a practical guide for fiduciaries available on Amazon called The Intelligent Fiduciary. Connect with Carol Buckmann:Website: https://cohenbuckmann.com/carol-i-buckmann LinkedIn: https://www.linkedin.com/in/carol-buckmann-6b44276/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: 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 on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.
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FF5 #107 - Checklists and Judgement Are Not Opposing Concepts
4w ago00:09:40Tap to summarizeIn this episode of Friday Fiduciary Five, Eric Dyson talks about eight signature principles from DOL proposed guidance for investment selection. Key principles included evaluating problems before solutions, prudence in process versus loyalty in purpose, and the importance of checklists in organizing judgment but not replacing it.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com 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 of 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.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or of Executive Director Eric Dyson.
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FF5 #106 - Examples Inform Fiduciary Judgement, Not Replace It
Jul 1000:12:29Tap to summarizeIn this episode of Friday Fiduciary Five, Eric Dyson talks about the DOL's proposed guidance on investment selection for defined contribution plans, based on over 40,000 public comments. He outlines eight signature principles, emphasizing that examples should inform fiduciary judgment but not define it.This episode discusses the DOL’s use of examples in their guidance and how they should be interpreted to inform fiduciary judgment and not replace it.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com 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 of 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.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or of Executive Director Eric Dyson.
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FF5 #105 - Process and Purpose
Jul 300:07:28Tap to summarizeIn this episode of Friday Fiduciary Five, Eric Dyson talks about the importance of prudence and loyalty working together in fiduciary duties, emphasizing that prudence focuses on process while loyalty focuses on purpose. He references 29 U.S. Code § 1104, highlighting the statutory definitions of prudence and loyalty. Eric stresses that fiduciary duties, including prudence, loyalty, diversifying assets, and following the plan document, must be for the exclusive benefit of participants. Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com 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 of 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.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting or of Executive Director Eric Dyson.
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FF5 #104 - Define the Problem First
Jun 2600:08:22Tap to summarizeIn this episode of Friday Fiduciary Five, Eric Dyson talks about the proposed Department of Labor (DOL) guidance on investment selection in defined contribution plans, emphasizing the importance of defining the problem before evaluating solutions. The DOL's guidance aims to allow for innovation and a path for different asset types in 401(k) plans without over-defining prudence.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com 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 of 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.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.
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John Tolson: Character, Calling, and the Crisis of Modern Leadership
Jun 2400:36:06Tap to summarizeA lot of people are breathing, but very few are really living. In this conversation, listeners are challenged to move beyond success and existing and to become leaders of character who get life right before it’s too late.In this episode, Eric and Dr. John discuss:Shortness of life and living with purposeCrisis of character and influence in leadershipThe Gathering and holistic development of menTime and truth are the rare gifts of real mentorsThe Four Priorities and faith‑driven leadershipKey Takeaways:Life is fragile and short, and ignoring that reality leads to wasted years rather than intentional living.There is a vast difference between existing and truly living with purpose, and many high performers are stuck in mere existence.Character, not platform or talent, is the foundation of meaningful leadership at home, at work, and in the community.The rare people who offer both time and truth can radically alter the trajectory of a life; becoming one of those people is a high calling.A well‑ordered life flows from clear priorities—spiritual, personal, relational, and missional—that anchor leaders in something deeper than success.“There is a difference between existing and living. Most people that I know in our country exist; they have really not found life.” - Dr. John TolsonDr. John Tolson is a nationally recognized leadership mentor, speaker, author, and founder of The Tolson Group. For more than four decades, he has helped develop leaders in business, athletics, ministry, and the nonprofit sector, impacting hundreds of thousands of people through his teaching, coaching, and leadership development initiatives. Through The Gathering, a movement he founded, nearly one million individuals have been influenced by his approach to leadership, personal growth, and intentional mentoring.John has served as a trusted mentor to senior executives, professional athletes, and influential leaders across the country. He pioneered one of the first chaplain programs in the NBA and has worked with organizations and teams, including the Houston Rockets, Orlando Magic, and Dallas Cowboys. His leadership insights have also been sought by major corporations such as Walt Disney World and IMG, where he has delivered keynote presentations on leadership, influence, and personal development.He is the author of Take A Knee and co-author of The Four Priorities, books that challenge leaders to build lives of purpose, impact, and lasting influence. Please welcome Dr. John Tolson.Connect with Dr. John Tolson:Website: https://thetolsongroup.com/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: 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 on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.
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FF5 #103 - Meaningful Benchmarks for Fiduciary Excellence
Jun 1900:11:51Tap to summarizeMeaningful benchmarks can make or break your fiduciary process—and even land you in litigation if you get them wrong. In this Friday Fiduciary Five, Eric breaks down how to choose benchmarks that truly align with your investment policy, target date funds, and fiduciary duty.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com 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 of 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.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.
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Bonnie Treichel: Meaningful Benchmarks
Jun 1700:44:39Tap to summarizeWhen does a benchmark actually become “meaningful” — and what does that have to do with your retirement committee meetings? In this episode, Eric and ERISA attorney Bonnie Treichel unpack retirement sketchbooks, DOL proposed regs, and how fiduciaries can align process, purpose, and benchmarks without getting lost in the legal weeds.In this episode, Eric and Bonnie Treichel discuss:Purpose and design of Your Retirement SketchbookMaking money conversations a “dinner table” topicBenchmarks and “meaningful benchmarks” in retirement plans3(21) vs. 3(38) fiduciary roles and investment policy statementsDOL proposed regulations, litigation trends, and action items for committeesKey Takeaways:Retirement conversations don’t have to be intimidating; using accessible, bite-sized topics can turn money into a normal “dinner table” discussion across generations.An investment policy statement is only useful if it reflects reality; committees must periodically review it and ensure their actual practices match the documented process.Benchmarks are not just numbers on a report; selecting and understanding the right benchmark is central to evaluating performance and defending fiduciary decisions.Delegating to a discretionary investment manager does not eliminate responsibility; plan sponsors still “own” the policy and must prudently select, monitor, and understand their 3(38) relationship.Prudence is about process, and loyalty is about purpose; without both, even technically sound procedures can fail participants if they aren’t anchored to what’s right for that specific plan and its people.“The big action item is to look at your investment policy statement and see if it says anything about what benchmark is being used. Number two, look at your actual investment report and see, okay, what are the benchmarks being used?” - Bonnie TreichelBonnie’s passion is sharing her knowledge with financial advisors. When she founded Endeavor Retirement, her goal was to make retirement legislation easy to understand. She keeps advisors up to date on the rules and regulations through her webinars, presentations, and consultations. The result — advisors and consultants help more people access their retirement savings.Connect with Bonnie Treichel:Website: https://endeavor-retirement.com/ LinkedIn: https://www.linkedin.com/in/bonnietreichel/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: 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 on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.
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FF5 #102 - Proposed DOL/EBSA Guidance - Complexity
May 2900:09:12Tap to summarizeIn this episode of Friday Fiduciary Five, Eric Dyson talks about DOL and EBSA guidance for DC plan investment selection. Eric discusses the complexity factor in investment decisions, emphasizing the need for clear definitions in investment policy statements (IPS). He highlights the operational constraints and management issues associated with private assets in target date funds. Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com 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 of 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.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.
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