2025 Top Retirement Plan Adviser: Alvaro Galvis

This year, PLANADVISER followed up with advisers on the 2025 Top Retirement Plan Advisers listing to get to know them better. These are the responses from Alvaro Galvis of Merrill Lynch in Alpharetta, Georgia.

PLANADVISER: What does it take to be a successful retirement plan adviser in 2025?

Galvis: The key to success as a retirement plan adviser is to center every practice and service around the ultimate beneficiaries of the retirement plan—the plan participants. For too long, participants have been overlooked and left with little more than an 800 number for transactions. How can we expect great outcomes when most Americans don’t even understand what a mutual fund is? Education and financial wellness are essential. Unfortunately, many plan consultants go as far as hosting quarterly or semi-annual meetings with a company management team or an investment committee, leaving plan participants unattended. By empowering employees with customized education strategies, knowledge and tools, plan sponsors can ensure participants make the most of the benefits provided—leading to better engagement, improved outcomes and stronger retirement readiness.

PLANADVISER: How do you balance the desire to grow with the need to keep clients happy?

Galvis: Growth and client service are two of the most critical pillars in managing a retirement plan consulting practice. For many firms, the focus is primarily on growth and prospecting. In our practice, we take a different approach: We place plan participants and plan sponsors at the center of everything we do. By delivering exceptional service across all aspects of the plan, growth—both organic and external—naturally follows. This philosophy has enabled us to sustain over two decades of consistent double-digit growth, driven by engaged sponsors and educated participants who maximize the benefits provided.

PLANADVISER: What are the most challenging aspects of the job? What are the most enjoyable?

Galvis: For most of us, the greatest challenge in this profession is time management. Every client, plan participant and consultant have the same number of hours in a week—the difference lies in how we organize our days, weeks, months and years to best serve our clients’ needs and goals. Time can feel like the biggest obstacle, but when we commit to doing the right thing every time, it becomes the most rewarding part of our work. Helping others brings a sense of purpose and accomplishment that stays with us—not just at the end of the day, but every time we look at ourselves in the mirror or into the eyes of our families, knowing we’ve made a meaningful impact.</p

PLANADVISER: How do you foresee the retirement plan industry evolving in the coming decade? Will your practice look much the same in 10 years, or do you see significant evolution coming?

Galvis: As Baby Boomers retire and the great wealth transfer unfolds over the coming decades, the retirement plan industry must evolve to meet the changing needs of younger generations—Americans who are already embracing technology at an unprecedented pace. This shift demands more efficient systems and processes that deliver rapid access to information, streamlined compliance and enhanced fiduciary oversight. Regulations will need to adapt as well, enabling innovation while maintaining the integrity of retirement plans. The future of our industry will be shaped by leaders who can balance technology, efficiency and trust to create a modern, participant-focused experience.

PLANADVISER: For those plan sponsors looking for a new plan adviser, describe what makes your firm stand out.

Galvis: As true retirement benefits consultants, our role is to align the unique needs of each plan sponsor and the distinct fingerprint of their workforce with providers and partners best suited to deliver optimal outcomes. Unfortunately, many firms claim independence while steering clients toward proprietary products, platforms and investments—creating inherent conflicts of interest. True independence and unbiased advice must remain at the core of every fiduciary relationship to ensure that both plan sponsors and participants receive the highest standard of care.

Click to see the list of 2025 Top Retirement Plan Advisers

View Other Top Retirement Plan Adviser Profiles Here