October 2, 2024

2024 Emerging Leaders — Liz Ulrichson

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PLANADVISER: Where do you hope to take your career in the retirement industry in coming years?

Ulrichson: My goal is to make a meaningful impact by helping people achieve financial security and peace of mind. Finances can be daunting, often causing unnecessary stress. I want to help people learn to balance their financial needs today, while saving for their future.

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As my career progresses, I envision growing my leadership abilities while managing the needs of our retirement plan clients, who collectively hold billions in assets and serve thousands of participants. This will involve consulting on plan design, investment management, fiduciary oversight, vendor selection and participant engagement. I will also continue with my current role of educating and advising participants to help them reach their financial goals.

Additionally, I’m passionate about sharing my financial expertise by teaching financial literacy to students. I believe that instilling a strong understanding of finances and a positive relationship with money from an early age will greatly benefit them in the long run.


PLANADVISER: How did you end up in the retirement advisory industry?

Ulrichson:My mother is a retirement plan adviser. She instilled in me the importance of saving, investing wisely and understanding 401(k) plans. Her guidance gave me a solid foundation in financial concepts, which I initially assumed was common knowledge. But that wasn’t the case.

My first year of college, I was undecided about my major when an advertisement on a bus sparked my decision to pursue a degree in financial counseling and planning. I chose this path because it aligned perfectly with my upbringing and personal interests. The program I enrolled in was one of the first undergraduate programs in Iowa to also satisfy the educational requirements for the Certified Financial Planner certification. Upon graduating college, I took a job in the call center of a major recordkeeper. It was harder than I expected, but I learned a lot, and I’m so thankful for that experience as it helps me better connect with the plan sponsors and participants I now serve as a retirement plan adviser at CAPTRUST.


PLANADVISER: What steps do you think will help improve the retirement industry and participant outcomes in the future (particularly ways in which your firm can help with that progress)?

Ulrichson:One of the most important ways the industry can improve financial outcomes for participants is by improving overall financial literacy. At CAPTRUST, we created a financial literacy program for students through our nonprofit, the CAPTRUST Community Foundation, which covers topics like budgeting, car ownership, compound interest and entrepreneurship.

CAPTRUST aims to help participants with various resources, including educational seminars, workshops and personalized consultations with a personalized projection that empowers them to make informed financial decisions.

Industry-wide, there have been effective plan design changes such as automatic enrollment, automatic escalation and the use of target-date funds. I believe that we will see improvements soon with additional income solutions and withdrawal flexibility.

It’s also crucial to leverage technology to improve accessibility and engagement. Everyone learns and absorbs information differently. The more information we make accessible on more platforms, the more participants we reach. It’s important to help participants realize that retirement planning is not a one-time event, but a lifelong journey.

October 2, 2024

2024 Emerging Leaders — Raymond Pedrick

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PLANADVISER: Tell us about your role at your firm and how you contribute to its growth and progress.

Pedrick: I’ve been a part of the SFP Wealth team since 2015, and we have grown from a two-person retirement plan team that advises 40 retirement plans to now advising more than 270 retirement plans with eight team members dedicated to the retirement plan space. My primary focus lies within the realm of private equity. We have cultivated robust relationships with PE firms, engaging us in their retirement plans to help ensure compliance, cost-effectiveness and strategic success. Our involvement spans from initial due diligence through organic growth and retirement plan merger-and-acquisition consulting and integration support. Over the past decade, the retirement plan industry has undergone significant regulatory changes. Our clients trust us to navigate these updates, ensuring their plans remain compliant and optimized for future growth.

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Another fundamental passion of mine is education. While we dedicate substantial efforts to educating our plan sponsors and their participants, it’s equally crucial to offer continuous education and training for team members. Fostering a supportive, secure and collaborative team environment ensures consistent opportunities for all team members to learn and benefit from each other’s growth.


PLANADVISER: Where do you hope to take your career in the retirement industry in coming years?

Pedrick: My goal is to propel our firm forward with continued substantial growth over the next decade, solidifying our position as a leader in the retirement plan industry. We’ve strategically structured our team for scalability and success. While acquiring new clients remains crucial each year, maintaining exceptional service for our existing clients is equally vital to me. As HR and finance leaders transition to new roles, many have returned to us for assistance with their new company’s retirement plans and executive benefits. Receiving calls from former business leaders seeking our expertise on new projects is immensely gratifying, as it underscores the value of our high-touch service approach and ongoing education efforts.


PLANADVISER: What steps do you think will help improve the retirement industry and participant outcomes in the future (particularly ways in which your firm can help with that progress)?

Pedrick: One critical area where I believe the U.S. falls short is in providing sufficient financial education, particularly concerning retirement plans and overall financial planning. Often, employees don’t contribute to their retirement accounts because they don’t understand the benefits of investing in their employer’s plans. Moreover, many employers miss out on the opportunity to maximize employee participation by not offering or adequately promoting employer matches.

To address these issues and enhance participant outcomes, we prioritize strategic participant education seminars. These sessions, offered both virtually and onsite, cater to the diverse needs of our clients and empower all employees to educate themselves on the mechanics of retirement plans. We also offer financial wellness seminars on topics like Social Security, managing college debt and other relevant areas.

Following these seminars, each employee has the opportunity to schedule an individualized, one-on-one session with a specialist to discuss their unique financial planning circumstances. This personalized approach ensures that every participant can make informed decisions and take proactive steps toward achieving their financial goals.

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