Smart Planning for Retirement NOW | Introducing Kate Boschert

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One of our newer members of the Correct Capital team, Kate Boschert, sits down with Alexia Keil to discuss her previous experience and what she brings to the table. You can listen to our other Capital Conversations or read the transcript for “Smart Planning for Retirement NOW” below.

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Kate Boschert: Hi, my name is Kate Boschert. I'm sitting in for Colin Day today. I've been with Correct Capital just two months. I am the new relationship manager and I'd like to introduce my teammate and friend, Alexia Keil. Alexia?

Alexia Keil: Thank you, Kate Boschert. I'm Alexia Keil. I've been with Correct Capital for over three years, the majority of that time in a relationship role in the retirement plan space. And I'm moving now, thanks to Kate Boschert, who is wonderful, into more of a business development client-facing role. Thank you for having me.

Kate Boschert: Yeah, you're welcome. So let's jump right in. What led you to move over to an advisor's office from working in the past in the record keeper space?

Alexia Keil: You know, working in the record keeper provider space helped me gain more of a deep understanding about the operations technical aspects of a retirement plan, which is helping me now move into the opportunity to be on the front lines, shift from behind the scenes, and having more of an impact on business development here at Correct Capital as well as client strategy.

Kate Boschert: Good. Well, your record keeper experience has really helped me learn a lot about the 401k business and how to manage clients. It's a win for both of us!

Alexia Keil: Yeah, absolutely. Good to hear.

Kate Boschert: You recently earned your CPFA certification. What does it stand for and tell us why you did that, why you studied for that?

Alexia Keil: This industry has nothing but acronyms, so I would love to explain exactly what a CPFA is. The CPFA is a Certified Plan Fiduciary Advisor designation and it's earned through NAPA (another acronym) for National Association of Plan Advisors. Earning this designation gave me more of an opportunity to service clients at a higher level. So we're looking at a deeper understanding of the fiduciary responsibilities that a client has, plan design, participant outcomes, that’s all included in this designation.

I mean–fun fact–plan sponsors seem to always think that delegating all of their fiduciary responsibilities to other providers relieves them of all of their fiduciary responsibilities. But it does not. And I don't–not many clients understand that they still have the responsibility to ensure that all of their contributions and participant contributions are being made in a timely manner as well as overseeing their service providers and that they're giving the best possible to their employees. I really like now that I have more of that deeper understanding so I am able to help our clients understand their roles and responsibilities.

Kate Boschert: Well, I know it helps our firm that you have that designation, so thanks for the time you put in studying.

Alexia Keil: It was great. It was fine.

Kate Boschert: Is there a mentor relationship that you've established in recent years that you would feel comfortable sharing that story with everyone about?

Alexia Keil: My mentor was with me at the beginning of my retirement services career. Now long story, very long story short, nobody goes to school, to college and says, I wanna be a 401K lady.

Kate Boschert: This is true.

Alexia Keil: It just happens, it just happens. So I moved to Chicago, had contacts at a firm out of a record keeper out of Minnesota, and they had an office in Chicago. They had a lot of turnover and they needed someone quickly. I barely even knew what a 401k plan was, but they hired me and they needed me to hit the ground running. I mean, literally client-facing, walking into HR and talking to them about their retirement plan and participant education. I made a couple mistakes, I'll be honest, but you know you learn. You learn. And this gentleman who had just started at the firm and had more experience than me, not a ton, but some, at the time, he took me under his wing, he taught me so much, and he didn't just tell me this is what we need to do, this is what the client needs to do.

He actually gave me the “why.” And that's what I want to do now for clients because I would see this being on the record keeper side, working with advisors, clients, plan sponsors, we're never given the why. And if they just knew the why, there'd be more understanding. So this individual is still in the business. He's extremely respected in the industry, very well known. And I love to drop his name at industry events because everybody knows him and is excited to talk about him. So, thank you for asking.

Kate Boschert: Yeah, that's a good story to share. And I hope that you believe that explaining the “why” to clients also helps with your fellow teammates when you explain the why. It's helped me tremendously.

Alexia Keil: That's great to hear. Sometimes I think I'm over talking or giving away too much information.

Kate Boschert: Never, you can't. It's been very helpful! Thanks for sharing that. My last question is what is your favorite Christmas cookie and it doesn't have to be one you make, it can be one you buy.

Alexia Keil: Buy? Well, I do have to say that I love to make the Penzi's molasses ginger snaps. They're so good. They're like gooey on the inside, not a typical ginger snap. But they’re so good! But they are a little bit harder to make.

Kate Boschert: Where does Penzi come from? Is that…

Alexia Keil: Spice Shop?

Kate Boschert: Spice Shop. In St. Louis or Nationally?

Alexia Keil: I don't know. It's National. They're out of–actually–out of Wisconsin. Oh. Yeah, We have a couple. I know one in Maplewood.

Kate Boschert: Well, I'd rather talk about food all the time.

Alexia Keil: How about you?

Kate Boschert: Well, I made you my favorite Christmas cookie surprise–and it's a peanut butter ball–and we just like to put them in special wrapping, and presentation is a big part of food, right? So, it's actually a buckeye, but I call it a peanut butter ball. You don't have to eat it now, but Merry Christmas!

Alexia Keil: Oh my gosh, I'm so excited! I have to take a bite.

Kate Boschert: Oh, okay, good.

Alexia Keil: So Kate: We're very excited to have you on our team here at Correct Capital–the retirement plan team, specifically. As you know, our firm is growing quickly, both wealth management and retirement plans, which is very exciting. And I think our audience would like to hear your background–not only your retirement plan background, but we also understand that you have a background prior to starting in the retirement plan business. So why don't you tell us a little bit about that?

Kate Boschert: Sure. Well, thank you. It's been an extremely warm welcome by everyone on the team. My background is not financial planning. I was in information technology starting in 1998 after college and I had a really good career doing software development, supporting the business on explaining software. This is not where I came from.

Alexia Keil: No, that's quite a change.

Kate Boschert: For a lot of reasons I was looking for something different. IT has a tendency to burn people out. I wanted to do something closer to home and something different where I could use my communication skills, and financial planning, retirement planning, was the opportunity that came up through my network.

And for the better half of 10 years, I've been doing retirement planning in the government space. So 401A and 457 plans for government entities, such as cities, ambulance districts, fire districts, and I was recruited here to come to Correct Capital because of my background in retirement planning, but also to help as the team grew to maintain the relationships with our clients and even enhance those.

So what can we do to provide a way to go from good to great? Well, how can we provide even better service and how can we maintain the client relationships we have while growing with new clients. Word-of-mouth is a thing and when you do good service for people that spreads and that's happening here. It's exciting. So as the wealth management team and the 401k team grow, both of those grow, there's a real opportunity for you to meet new clients and for me to help keep the lights on and keep things running smoothly and even maybe do some things more than we've done in the past. So, I'm excited about it. It's been a really good transition.

Alexia Keil: We are just as excited. I can't think of a better person to fill that role. So thank you.

Kate Boschert: Thank you.

The opinions expressed in this program are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing.

As always, please remember investing involves risk and possible loss of principal capital. Please seek advice from a licensed professional. Correct Capital Wealth Management is a registered investment advisor. Advisory services are only offered.

Capital Conversations | Correct Capital Wealth Management

We hope you enjoyed learning more about Alexia Keil and Kate Boschert, our retirement expert. People of all ages and in different financial situations should consider their future retirement plans. The sooner, the better. Fortunately, we have the wealth management capabilities to help plan ahead and optimize their financial security. You can give our team a call at 877-930-401(k), contact us online to schedule a free consultation, and take control of your financial future.