2023 PLANADVISER Vision Awards

There have been tremendous changes and advancements in the retirement plan industry in recent years, often inspired and driven by visionaries and leaders in the field. PLANADVISER’s annual Vision Awards celebrate those industry players who have propelled positive change for retirement saving and toward financial security for U.S. workers and retirees.

This year, we are pleased to recognize the CFP Board with our organizational Vision Award and Kelli Hueler, CEO and Founder of Hueler Companies, with our individual recognition.

VISION WINNER:
CFP Board

The Certified Financial Planner Board is one of the largest financial professional certification bodies in the country, with more than 95,000 financial workers carrying the CFP certificate nationally—one of every three financial advisers in the U.S. The board’s ongoing commitment to fiduciary best practices, and the evolution of the CFP fiduciary standard helps to understand why so many seek out this designation. The CFP has also been a driver of diversity, equity and inclusion in the financial space, regularly updating the public about demographic statistics from its certification program, along with championing a broader umbrella for financial services recruiting and education.

In 2022, the board began a process to double down on its efforts to improve DEI with a major restructuring of its organization. In a decision driven by leadership, the nonprofit decided to create two entities: One will remain focused on CFP certification, and the other will focus on forwarding financial advisement as a career for all, particularly among groups currently underrepresented in the sector. The CFP Board in January split into two nonprofit entities under one advisory board. One organization, the CFP Board Center for Financial Planning, has a stated mission of advancing “competent and ethical financial planning and expand[ing] CFP professional diversity for the benefit of the public,” according to the CFP. The other, the CFP Board of Standards, is focused on developing and administering CFP certification.

“As more Americans seek financial advice, firms large and small are embracing financial planning as a core service,” Daniel Moisand, CFP Board chair, and Kevin Keller, the CFP Board’s CEO, said in a statement upon the announcement. “However, with tens of thousands of financial advisers expected to retire in the coming decade, our country faces a dearth of competent and ethical financial planners.”

VISION WINNER:
Kelli Hueler
CEO and Founder, Hueler Companies

Kelli Hueler was early in identifying a key dilemma in the 401(k) era of retirement savings: How can savers ensure themselves a steady paycheck in retirement? Today, after more than two decades of work, her Income Solutions division stands as a leader in providing a safe and simple platform for advisers and individuals to compare, assess and purchase institutionally priced retirement income annuities.

Hueler first began her journey in 1987, with the founding of Hueler Companies, a data, market research and analytical reporting firm. During those years, Hueler’s work in researching insurance-backed stable value funds led her to see the need for an affordable solution to the retirement income dilemma for defined contribution retirement plan participants. In 2004, she launched Income Solutions, a platform designed to empower transitioning employees in need of creating a personal lifetime income stream by providing online access to competitively bid, institutionally priced annuities. The Income Solutions platform was made available directly to plan sponsor clients and through non-exclusive partnerships with financial services firms, fiduciary adviser platforms and non-profit member organizations. Hueler sold the analytics portion of her business to Morningstar Inc. in 2020, while continuing to run Income Solutions. In February of 2022, Hueler began a partnership with Morningstar to incorporate guaranteed income products into retirement savers’ personalized advice plan through Morningstar Retirement Manager.

Hueler has dedicated time and focus on educating others about lifetime income creation, in many ways, including testifying before the Department of Labor ERISA Advisory Council, as a founding member of the Defined Contribution Institutional Investment Association, and as a regular contributor to news outlets.

For PLANADVISER Industry Leaders Awards sponsorship information, please contact Rob Reif. For general information, contact Carol Popkins.