Episode Summary

Welcome to episode #47 of the Fiduciary U™ Podcast. I’ve broken this one into 2 parts so make sure to check both of them out. You won’t want to miss either one.

My guest today is Bill Chetney, Jr. from Viking Cove Institute. Bill’s dad Bill Chetney Sr. arguably created the first aggregator with National Retirement Partners (NRP), eventually selling it to LPL, and ultimately created GRPAA. Now it’s Bill Jr.’s turn to lead the organization forward and today he shares his vision for what that looks like.

On the show we cover a lot of ground around topics and the various ways Viking Cove Institute supports the independent advisor community through a combination of resources like training and educations, fintech solutions and partnerships, and favorable economics with product providers to create institutional scale that Viking Cove members can leverage to compete more effectively within the marketplace.

Make sure to listen to Parts 1 & 2 with your favorite podcast app!

What You'll Learn

The history of GRPAA and why the organization has rebranded to Viking Cove Institute and where it’s going in the future.
How Viking Cove brings together resources and solutions to help independent firms compete more effectively.
Why smaller firms need to be nimble to compete, differentiate and “punch above their weight” against larger firms who have more resources.
Why Viking Cove is focused on empowering the next generation of retirement plan advisor through building a community to share best practices, delivering technology solutions and developing strategic partnerships.
The incredible opportunities in the small plan market because of SECURE 2.0 and why advisors need to raise their minimum fees.

Links to Resources

Bill Chetney, Jr.: LinkedIn | Website

Ideas Worth Sharing

“There is an amazing marketplace for retirement plan advisors with trillions of dollars being injected through SECURE 2.0.”
“We don’t expect everybody to march but we do expect to aggregate their assets and participants, go out to the marketplace and leverage it, and create favorable economics."
“You can look at fintech in two ways. One it’s as a thing that solves a problem or it is a practice management feature that enables you to scale.”
“If you’re looking to have someone take your practice over, how are you training them, how are you gearing them out, and how are you going to save them from attrition of the book?”
“I think the big challenge for Viking Cove will be finding that next generation and however it manifests?”
“Being tuned into fintech right now where efficiencies are going parabolic that’s the future and that’s what people need to look for.”