TRANSCRIPT:
Dustin Taylor: Welcome back to Financial Foundations brought to you by Base Wealth Management where we are the foundation to your financial plan. I’m your host Dustin Taylor.
Alex Wolfe: I’m your co-host, Alex Wolfe, certified financial planner.
Kyle How: And I’m Kyle How, financial adviser in the Loots office.
Dustin Taylor: Today we have with us Marc Piccirillo, the human resource. Thank you for joining us, Mark.
Marc Piccirillo: That sounds awesome. Thanks, guys.
Host: Mark, when we talk about employee sponsored plans, what exactly are we referring to?
Marc Piccirillo: Yeah, I think when we talk about employer sponsor plans, we’re talking about plans that would fall under a federal ID for a business owner or group of businesses or what have you. Typically those plans are, you know, a 401k, 403b, some type of IRA that works through a business, something like that. But that’s typically what we mean by employer sponsored. It just means that the employer is responsible for the plan. So that’s really what that is.
Host: Great question. What’s the difference between a 401k, a 403b, and something like a simple RA?
Marc Piccirillo: Yeah. So, a lot of it’s education, but they’re different. Basically, they’re different laws of the 401k codes. 401k is a code in the government’s handbook, for lack of a better word. And it has it’s been around for I don’t know 30 years or so, maybe longer. Someone should fact check me on that. It’s probably a lot longer. Anyway, those are just derivatives of that code. And each one of those is just a different plan that um an employer can use, right? 403b you’re usually going to see in a nonprofit type of environment. You know, teachers, unions, that kind of thing. Very, very popular. A 401k is pretty much the nuts and bolts of the industry. You’re going to see that pretty much everywhere you go. And then the simple IAS are still very popular. They’re just teach their own.
Host: So why would a business choose one type over another?
Marc Piccirillo: Yeah. So a business typically is going to choose one or the other, I believe, based on the education. what fit is best for their tax pitcher, for their employees, for the growth of that future of that business, for the sale of that business. Um, and then compliance, right? Compliance is that word that nobody really wants to talk about, but it’s the word that governs almost everything when it comes to employees and employers. So all those factors, when you have that along with education, I think that’s how you make the decision that’s best for the company.
Host: So Mark, we’re talking about employer sponsored plans today. There’s something called a plan sponsor with inside that employer sponsored plan. Can you give us kind of the nuts and bolts of what that plan sponsor does, who they are?
Marc Piccirillo: Yeah, the plan sponsor typically is going to be, you know, somebody that uh is inside that business that uh has deed in it, a stake in the game. Um, a business owner, a partner, typically somebody like that would be it. It it’s at the end of the day, the government looks at it as who signs the legal documents is going to be the plan sponsor. You’ll see in magazines and articles and drafts and a lot of things, you’ll see the word plan sponsor and they don’t typically tell you what it is or what the responsibilities are. So, that is a really good question.
Host: Great segue. What are the responsibilities and what risks does that plan sponsor take on?
Marc Piccirillo: Yeah. So the typical responsibilities uh of a plan sponsor are they’re enormous. They they can go anywhere between one to 31 types of of movements that happen throughout a calendar year that a plan would be responsible for. So the plan sponsor or the person that signs those documents and is putting this retirement plan into place. The responsibilities start as soon as just knowing who is available to that plan, right? Who can enroll in it? Uh how fast can they enroll in it? What days can they enroll in it? Uh are there matching monies? All kinds of questions like this are all certain things that you know a plan sponsor want to at least familiarize themselves with. It’s very important that the person that usually has the most stake in the game or has the most ownership in a business or a partnership. It’s very important that their name is either adjusted on this or a part of this. Um because as Kyle alluded to earlier, they have the most to lose. What I mean by that is the responsibilities are vast and a lot of folks don’t understand what they are responsible for but it is the day-to-day life and breath of that of that retirement plan.
Host: So I’ve known you for coming up on a year. You have helped me immensely helping small business owners setting up retirement plans and and getting the education to those small business owners. What are what are some common things that you see that business owners need to know more about when it comes to setting up a new retirement plan for their for their business?
Marc Piccirillo: That’s a that’s a great question. I think who’s in control of that plan? As we talked to earlier, do they know what type of plan is it? Is it a 401k plan? Is it a simple IRA, a SE IRA, a 403b, a 401A? If it’s any of those type of things, there’s different, like we said, responsibilities for each of them. So, it’s important to know first of all where to go, right? Who’s holding the money? Where’s the money being traded at? What type of accounts are they have? Is there somebody as a professional that might be there to assist in that process? Uh there’s a lot of pieces to it when you strip the layers back. And I like to call that the spiderweb.
Host: So, what are some things that that co company or small business should consider when deciding what type of plan to offer their employees?
Marc Piccirillo: That’s a great question. I I think the first thing is, you know, what are they trying to achieve from this plan? Um are they trying to make a better financial picture for the business? Are they trying to reduce their taxable income? Is you know the individuals that the individuals that actually make up the organization and make the decisions are they trying to reduce or save for their retirement or is that all part of the process of making an employer of choice and offering a benefit to your employees? Right. So when you first think of that, I I would first think about where do we stand from that standpoint? And it can be all three of those. And then from that point on, how do we do it in the best light that our employees are going to be able to take advantage of it? Because you can do both, but at the end of the day, the employees, they have to be on the top of your mind, right?
Host: And I think something that I talk to our clients about is are they participating in their company retirement plan? How much are they contributing? Things like that. And one thing that’s important to me as working individuals participating in the plan are there matching benefits, what types of investments are in the plan. These are all things that the plan sponsor can help with inside the plans.
Marc Piccirillo: That’s absolutely correct. Yeah. And and their choices for the plan sponsor that the person again when we say plan sponsor I I want to say generally that might be the president or the owner of a company or or owners of a company. So that person Yeah. has it can delineate on that and I think when you’re deciding, hey, are my employees going to need the funds once they’re in there, right? That’s another thing. You know, a couple years ago, we had some legislation change in the government that made it easier around COVID for for uh uh employers to offer these plans and then by that it made it easier for the employees to then access the money that was in the plan. So with that being said, there’s a lot it’s easier to offer these plans inside of a business now for these employees than it was before. So you no longer have to think what plans best for those individuals. It’s just what is the employer trying to contribute and how do we keep the employees at the at the top of the list.
Host: If you have an employer who’s costconcious like these cost money to run, create, managed, what plans are more costconscious than the others?
Marc Piccirillo: Yeah. So that is a great question. In tradition, traditionally when you look at a 401k being the most popular plan and most accessible plan in the United States as well, accessible I should say, you you look at those plans and those typically over the years have been kind of commoditized. So the the fees have come down, but typically those have been commission based, so those have been on a higher tier or more expensive to a participant. That’s all changed in the last probably seven or eight years. Simple IAS are another great way to put your money in without an employer having to do much of a match. But again, it comes down to, you know, the the people that are participating in the plan. How much do they want to get out of it? Is there a reason why they’re doing it for themsel? Because you should do it for theirelves and for the employees, right? because the employees a lot of times are employees. Employers are employees, I should say. So, they’re paid W2 wages or some other reason to to to make them or to give them the ability to save for the retirement. So, it just comes down to proper education, right? To having an individual like a financial advisor who I’m sitting in the room with obviously help you navigate that world and and figure out where the business is and what it’s trying to achieve.
Host: Do you help business owners determine the right type of plan for how big the company is or how many employees they have or who they want to offer the plan to?
Marc Piccirillo: Absolutely. Yeah. I I assist them with what plan is right for the employee size, what they’re again, they’re trying to get out of it, how those fees work inside of what they’re, you know, what their plan is. If they say they have a budget of X, then we’re going to find the plan that’s going to fit within that. Right? There’s government incentives that are going on right now and have been for a while. There’s secure act one, two, and coming up three. And that makes it almost it makes it almost profitable for a business to start a 401k plan or another type of plan. So where fees would have got in the way before, they’re no longer the case now because the government stepping in and helping pay for that.
Host: Yeah, I remember that from the Secure Act 2.0 that came out a number of years ago. And it also benefited employees for automatic enrollment.
Marc Piccirillo: That’s correct. So, you know, right right now there’s if you have more than 10 employees and you’re starting out 401k plan, the government recommends that you set them up on on autoenroll. If you have 25, it’s automatically a mandate. So, what they’re trying to do is just get you to understand that the more employees get in, the longer that plan lasts, the more it’s the better it is for everybody. And the better when it comes to record keepers and the financial world, the more employees that are going to participate, the better your price breaks are going to be, too.
Host: So, how is the record keeper different from the plan sponsor?
Marc Piccirillo: Great question. So, the record keeper is going to be the one that’s going to hold the money, trade the money, offer the the the accounts that you would see on a day-to-day basis. So, if anybody’s heard of like a Vanguard account or a Fidelity account, they’re the ones that would offer those up for you to put your money into.
Host: Is there a TPA different than a recordkeeper?
Marc Piccirillo: Yeah. So, the third party administrator or the TPA is going to be responsible for some of those tasks that the plan sponsor that we talked about earlier should do on a day-to-day or a weekly basis. They’re going to help assist in that. What they are is somebody that helps with the administration of a plan, right? Is is is Susie enrolled? Does she have to wait 30 days, 60 days? Does somebody want to change their information from 6% to 3%. How do I file a 55? All these types of things a third party administrator or a TPA would assist with. How they’re different from the record keeper is the record keeper just holds the money. That’s it.
Host: Are there companies out there that handle all of this? Like to me I I feel like a hesitation a business owner might have is this sounds complicated.
Marc Piccirillo: Yeah, absolutely. And it is. and and you know explaining it now is it it’s a little easier for me to just kind of let it roll off the tongue but you know if I had something to illustrate and show you I call it the spiderweb and what I mean by that is retirement plans look if you think of a giant spiderweb and you think of the plan sponsor or the owner that person we talked about earlier in the middle and you think about the hands reaching out the why why it’s so complicated and it’s confusing to a lot of people is you have great folks like yourself in the room and the financial adviserss that are driving this this this this this need to save more for retirement this education that’s getting out to businesses and educating them and helping the individuals. So that’s one piece of the arm and then you have a third party administrator who comes in and says okay now we have to and imagine somebody holding your arms out now we have to get information so we can properly administrate the plan right like we have to keep you in good compliance and then you have the business owner already like okay that’s two arms going out right and then you have this you know if you’re dealing with a player sponsored plan that means there’s probably payroll involved right or some company doing payroll so now they’re coming down with an arm right so now there’s three arms going out and then you have that record keeper on the bottom which is the which is the fourth, right? And so that’s four already. And so where the world has gotten to in probably over the last 10 years is what they call integration. And it’s like riding a bike or jumping into your car and having the seats warm and the air blowing or whatever it is. It’s all done for you like Bluetooth, everything’s connected. This is the same thing.
Host: Yeah. And I feel like it can even add to the complexity in our world we live in today where you might have employees across different states, remote, in person, hybrid, wherever. uh maybe even across multiple countries.
Marc Piccirillo: Yeah. I mean, if you have employees across different domains, different jurisdictions, then you’re then you’re subject to the laws of those jurisdictions, right? We have statemandated plans without the United States, which is running rampid now and over the last four years has taken off. I think we have 33 states, you have to fact check me on that, too, that are either in the process currently or are already statemandated for retirement plans. What a state retirement mandated plan looks like is generally like an IRA or an individual retirement account that is just has a little bit of fluff on or a little butter on it. It looks a little bit better, but generally the savings that mandates is well below what these other programs I just told you offer. Right. Yeah. So they’re a quarter to a third of what some individual can put in through their company.
Host: What’s the process like? If I started as like a sole prop or a single owner LLC and I had like a single SE IRA or simple IRA, but now I’m growing and I have more employees. Are you opening up a brand new plan or can you transition one plan into another?
Marc Piccirillo: You can actually transition one plan to another. This is a great question. Controlled ownership is really what it comes down to. And when you have more than 5% of a business or business affairs within an organization, that’s when the rules sort of go to, you know, you offer this to everybody. And and and if you started out with, you know, a SE IRA or an IRA, there’s different times of the year that you can convert these over to a 401k or back over to an IRA. The money goes, it’s taxree to go back and forth as long as you’re not pulling it out to do something taxable, a taxable event with it. These are these monies can stay in house and if you find the proper representatives to to to help you in an organization then this is really easy to do over a 30 or 60 day period. So, right.
Host: Can you elaborate? You you mentioned this a moment ago. How do you think a financial advisor plays kind of at the center of all this and working with the the either the employee as a client or the employer as a small business client.
Marc Piccirillo: Yeah. So from the employer side, a financial advisor is intricate and helping the business decide like you said what program is probably best for them because they know their financial picture. They probably know the other maybe partners or other folks that are in the driving factors of that business, the growth and potential what it’s going to do. Is it going to be sold? That that financial advisor probably knows all that or has an integral role like I said within the decision-m of of that business. And that’s been the experience with me. But they also bring their immense knowledge of the market right now. Right? So a lot of folks are hesitant right now to put money into a retirement plan because they see everything that’s going on on TV and they see, “Oh my god, I’m going to lose everything.” Well, we always talk about everything being on sale. And right now everything’s still on sale. So, you know, it takes that education. It takes the people that are responsible or the throat to choke, like I like to say, the person that’s responsible to actually Yeah. You know, they they’re they live and die on their elements of the testing. they take and their knowledge of the market and their knowledge of these programs. And I think they’re the the footprint and the starting point of of getting these out there. And that’s why I’m so excited to work with them like you guys is because we kind of share the same passion. So I think they’re intrical. I think you you can ask them questions. I think you can say what’s right for me. I think that I need to offer a retirement plan, you know, because I haven’t yet or mine isn’t working because my enrollment’s down. There’s so many different things that can happen. And that’s the first person I would go to, right? A lot of times you might hear, “Let me check with my CPA.” And I would like to today dispel that a little bit. Not that I don’t love CPAs because I work with them and they’re great. CPAs typically don’t kind of work in this area. Uh this isn’t typically 1140 or or a form that you can file. This is typically, you know, it’s not a it’s not a it is a write off for what you put it through. It’s a line item 17 or whatever it is. I forget what that’s called. Cost of doing business. But what it isn’t is, you know, something that you can just faction and put together. This is this is a plan. This is a strategy. These are protocols that were put in place years ago for government handbooks to help people save for the retirement so they don’t have to rely on social security, right? We know that we’re in an epidemic of of saving right now. We have been forever. We we know we can say what we want about social security and where that money is coming from, but these programs were put in place to help with that, to assist with that. So, yeah, they definitely are.
Host: And I want to kind of connect this to another episode. And I don’t know what order you’re going to do this in, but we had Mike in who’s the commercial real estate broker. And he talked about companies that might be wanting to sell their business and they don’t offer a plan and that can be unattractive to a potential buyer because it could mean that the employees aren’t sticky or there might not be good retention there. So that was kind of interesting that Mike had brought that up.
Marc Piccirillo: Yeah, I like to call that the employer of choice. What we mean, what an employer of choice in this, you know, postco I’ll call it because during co a lot of people reassessed what they were going to do. Maybe people changed careers. What it looks like now is if you’re an employer that doesn’t offer a retirement plan or some type of plan to help save for somebody’s retirement, it really looks like you’re not focused on the employer or I’m the employer, I’m sorry. And when you don’t offer benefits, a lot of times brokers will look at this. They’ll do evaluations and they’ll look and they’ll represent you to a buyer and the buyer doesn’t want to see that you don’t have liabilities. And what I mean by liabilities are are health, some type of health, some kind of maybe some kind of fit program, some financial fitness or something like maybe other benefit any other benefit that’s ancillary. Yeah. They really look at that hard and it devalues the business. It really does. And and I one of the things I learned was working with folks like Michael when I was younger in my career and being led by them and they had told me, you know, these are the things that make you an employer. These are the things that we look for when we’re selling a business to somebody else, right? What makes it attractive? If you don’t offer benefits, then the buyin isn’t there to another buyer. When I say buy in, the buyin to the folks that they’re going to take over because nine times out of 10, they’re not, you know, the shop isn’t going away, right? Those folks are still there. They still rely on this. And this is a 401k plan is still the is still the number one most motivating benefit in America. So when you ask somebody, hey, would they leave a business or they would they go to another business, nine times out of 10, it’s not healthcare anymore. Healthcare is the most wanted benefit, but it’s the most not attracted benefit. Right. It’s funny cuz nobody sits around the cooler. You know that that what do you call it? The water cool. Yeah. Water cooler. You know, they don’t sit around talk about their healthare plan. Like nobody does. That’s weird, right? Yeah. But they’ll sit around and talk about how their 401k is doing, won’t they? Right. Yeah. Because that’s your not your ticket out, but like that’s that’s why you’re working is eventually to retire potentially. So to answer your question earlier, imagine you and I and we’re all sitting in the room. We’re just kind of, hey, you know, how’s your how’s the game? Yeah, great. How’s your 41k? Imagine if you were one of the people that couldn’t do that because you didn’t have a chance to do it because your employer and you felt almost embarrassed because hey, I’m with the guys, right? and we do this every Monday morning, but I can’t I I really am interested what they’re talking about and I want to be part of the group, but I don’t have that opportunity, right? Maybe it’s at the gym, right? Maybe it’s maybe somewhere because you financial wellness is being brought up everywhere now because we just as Americans haven’t saved enough. That’s the reality.
Host: So obviously there’s financial benefit towards saving in a retirement plan. There could be tax benefits and then employee benefits to retain or attract new talent. I was going to kind of go into like the differences of of why a small business owner may want a 401k versus a simple IRS or it does it make more sense for them to start a simple IRA instead of a 401k because as the business owner they’ve started this business they’re just now getting into retirement right maybe the 401k doesn’t make sense even with these government incentives correct because they can’t afford to necessarily put in the the maximum the $23,000 500 or the 31,000 if they’re over 50. Maybe they need to start small.
Marc Piccirillo: Yeah. The message should be start something, right? Put a program together because the what I do know and what I’ve watched my entire career is I’ll get to that and then a month life hits you in the face, right? Kids have braces, you know, teaches or coaches. You won’t do it. And as Americans, we won’t save unless we force ourselves to put money in our retirement, right? So, I don’t care what the program is, but I got to force myself to have something coming out of my paycheck because I know and we all know it doesn’t come out. You’re not going to I’m not going to stop at the bank on the way and say, “Hey, you know, hey, what’s up? Hey, I want to set up an IRA. Can you help me?” No, that’s never going to happen. We It It’s got to for It’s got to come out of the paycheck. It doesn’t exist.
Host: Yeah. I mean, you can you can I mean, we’ve done this with Corned. You can automate it where it comes out of their bank and into an IRA, but that’s still not as easy as a payroll deduction.
Marc Piccirillo: But even then, you need a motivated person that says, “Hey, because I mean, not that you guys couldn’t do that, and not that you don’t want to do it, but it’s just the luck of the draw is like if I don’t know it’s coming out, I don’t miss it.” And that’s the whole reality.
Host: That’s the whole compounding interest argument. Yeah. And starting years before you need it, like that compounding that’s of the returns. And whether you’re the small business owner or you’re the employee of a small business owner, if you are the employee of a small business owner, it’s a asking that question to your boss, to your owner. Hey, can we do something? I’d like to get started at least, you know, 10 bucks a month or 50 bucks a month. We we know a lot of people that are in that predicament, like you said, you know, a few minutes ago, standing around the water cooler with their buddies that don’t have access to it. it’s very very easy to get access to something very cheaply for a business owner. So, yeah, just, you know, we’re spreading the word and and getting that out there that, you know, we want we want everybody saving. Doesn’t matter if it’s 10 bucks a week or 10 bucks a month or $1,000 a month or for the business owner, maybe it’s $2,000 a month. Just get it started.
Marc Piccirillo: Yeah. And and and the employees, I just applaud them because when I first started at this, they weren’t doing that. that they were afraid to do that, right? I mean, it’s just a change in in in workforce. It’s changing a lot. But what’s great about it is employees are standing up and saying, “This is what I want and I deserve, right? I’m going to give you everything I have.” And understand, too, if they’re not getting it here, where are they getting it? Because a lot of them, this is their full-time job. Maybe they work two or three jobs, but either way, if they work two or three, they’re not they’re not eligible in another place. So, you know, the place that they are eligible at, do the right thing. If you’re an employer, just do the right thing and offer it because there’s a way that we can make it available and and free no matter what. No matter what you choose and the financial advisor can help you with that.
Host: Is there a triggering event or something that would or a point at which a small business owner should start offering it? Maybe they only have like one employee or something. Does it does it make sense right off the bat or when does it make sense?
Marc Piccirillo: I I do believe in my heart it makes sense right off the bat because there are programs even if you don’t feel like you have like Kyle said if it’s a monetary thing I if you’re going to give the government taxes cuz you will and people can self-employment if you’re going to pay the government taxes because there’s only one other way you don’t pay them and if you remember the show the Grizzlies right you remember the they just got they just got out of prison because they didn’t pay their taxes so people I love when I talk to a business owner I don’t pay any taxes all right let’s peel pe the onion back a little bit. You’re either going to prison, you should be in prison, or you don’t know what you’re talking about. So, you pay taxes. The whole idea here is if you’re going to give the money any government any money at all, pay yourself first and then pay them. I say pay yourself first. Pay yourself in your paycheck or some other deduction like we like you just said, and then let them take theirs out. That’s how you do it. I don’t care what the program is. That alone right there beats inflation because they can’t touch that money, right? So, you know, I I love to tell employees when I’m doing an enrollment meeting. How much do you think you have to make to spend a dollar? It’s a great question. And this is I did this back in like 2020. Now I have to adjusted a couple times for inflation, but it used to be like a 126, right? So that 26 is what you’re losing to taxes, right? So all you got to do is put it in your pocket before take the 26 on the dollar put that in your in your pocket ahead of time and it turns out to be like 8284 right that’s the difference of what it feels like coming out of your paycheck. So what I’m getting at here is you know nowadays I’d probably say it’s probably closer to what $1305 with inflation and that’s the taxes that you know that hit you before. Because the there’s gross and net, right? There’s gross tax and then net nets afterwards after they take everything out of it. The government can’t touch this and it can only affect your fa tax. So, right, pay yourself first.
Host: Yeah. I think also what Kyle and what we’re talking about is there are simple lowcost options just to get started with something and do it now while you can.
Kyle How: I mean, I’ll give you an example of, you know, a cl a newer client that has a small business, just started it in 2024. You and I, Alex, came up with a plan. We were going to do a simple IRA because of the low cost, because the the business owner didn’t feel like they could maximize the contributions in the 401k. And fast forward 3 months later, they’re already ready for a 401k because the business has exploded into a situation like the the income is just extremely higher than it was six 6 8 months ago when they started. So, we backed out of a simple IRA. We started the 401k plan that’s been set up now. We enrolled all the all the employees last week and you know, now they’re off to the races. So just because you’re not necessarily ready for one doesn’t mean you’re not necessarily ready for the other. It’s again just getting it started.
Marc Piccirillo: Yeah. And and you had mentioned it, you know, how do I decide in the beginning is you’re getting hit with, you know, you’re drinking out a fire hose, excuse me, as a small business owner. Even a business owner, we say small business owner. What does it even mean nowadays? Right? If you’re a business owner, there’s no handbook on how to do your business, how to run it, how to be successful. So, you know, you just do something better than probably the next person does, right? Or you have a passion. You do both of those. But, you know, at the end of the day, you’re going to pay yourself. You have to pay yourself something. Some income has to come through that business. I’m just saying don’t let them get tax. Don’t let the government tax you on it first. Like Kyle said, just put it somewhere. Like somebody like Kyle can help you with that immediately. Turn to a financial advisor. That’s why they’re out there. It’s not always about, hey, I have to have a lot of money to talk to him and have a conversation. I I get that all the time. Well, I don’t have any money. It’s not well it’s not what it’s about. You might have money from an old retirement plan that you didn’t even know you were in or or maybe stock options or something. Just money that’s sitting there that you don’t know about, but you get a bunch of letters and you don’t know. You know, this is why you want you need somebody that’s financially trained in your life. And I mean financially trained, I mean somebody that comes with all the the licensing that it’s required for. So
Host: So what advice would you give a business owner who wants to set up one of these retirement plans?
Marc Piccirillo: Yeah, I would say like we had just talked about making sure someone can help you understand what the goal of the business is. You want to be employer choice. We all agree that that’s important. So if that’s in mind, you know, having somebody stick by you, but take the work out of your hands, right? So when you do figure out what program is best for you, all the requirements that are going to come after it, the compliance, the things that that are going to, you know, render it not fun, just put that off on somebody else. And that’s why I’m here today, right? Because that’s what I represent is all the other stuff that you can offload it on to and then you can go along put put your hands up and just say, “I’m gonna run my business the way I want to run it.” And then someone else will handle whatever program, you know, Kyle or the financial adviser decides to to help with.
Host: That could be one of their hesitations is they feel like there’s no one to help them do all that, but they know that it’s a burden or a headache to get set up, but there’s people like you that can offload the work to.
Marc Piccirillo: And if you don’t want to do any from zero to to none, you know, there’s there’s there’s engines or or avail, you know, there’s there’s vehicles out there, you know, that I represent that’ll do it completely automated. When I say completely automated, it’s these APIs that’ll take your money from wherever it is currently and move it over to the to the place where it needs to be without you being in the middle of all of it. So, that’s what I mean by the integration. It can you can literally turn that car on and sit back, adjust the seat, and just enjoy it. I mean, that’s that’s as detailed as it needs to be.
Host: So, thanks for joining us.
Marc Piccirillo: Thank you.
Dustin Taylor: If anyone wants to reach out to Mark, you can contact Kyle. He’d be happy to connect you. If you would like more financial insights, you can visit our website at basewealthmanagement.com. Check out our other podcasts there, videos, and articles. If you have any questions or topics you want to see us cover on future episodes, send those in to us at question@basewealthmanagement.com. I’m Dustin Taylor.
Alex Wolfe: I’m Alex Wolfe.
Kyle How: And I’m Kyle Howell. Happy listening.
