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401(k) Wire
March 30, 2010
By Neil Anderson
Top 40 Advisor: Brent Glading
Brent Glading may be one of the few
defined contribution advisors to gain national media attention, thanks
to his discussions of 401(k) fees and disclosure. His own Montclair,
New Jersey-based Glading Group
now works with about 20 clients with $5 billion in assets.
Yet
Glading didn't start out as an advisor. After working in the investment
banking world, he transitioned into the DC industry two decades ago,
working at Dreyfus and Merrill Lynch before leading institutional sales
for MassMutual Retirement Services. Yet he yearned to switch sides.
"I've
always frankly wanted to do this on my own," Glading told The
401kWire.
Glading and his eight-person team specialize in disclosure and capture
of revenue sharing dollars and reducing fees. He even worked with the SEC (Securities and Exchange
Commission) to make sure that providers could send revenue sharing
dollars back to plans or so-called ERISA (Employee Retirement Income
Security Act) budget accounts. And he charges project fees or
contingency fees (which are contingent on the savings Glading manages
to wring out of the plan).
Unlike some advisors, Glading's RIA (registered investment advisor) is
completely focused on retirement plans (mostly DC, but some defined
benefit, too) -- he does no non-retirement business. His team includes
two other Merrill alumni who are provider veterans as principals: David Kimball and Ken Williams.
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