2025 Top Retirement Plan Adviser: Jean Duffy

Jean Duffy

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 Jean Duffy of CAPTRUST, in Des Moines, Iowa.

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

Duffy: A successful retirement plan adviser is willing to go beyond the service model of the past and is committed to creating a successful plan for both the plan sponsor and the participants. The adviser aims to deliver a multi-faceted approach focused on expertise in plan design, a commitment to the fiduciary process, strong vendor and investment management, and a desire to meet the needs of each individual participant. The successful retirement plan adviser of the future will embrace technology and will continue to be a student of the game by constantly learning and growing.

The focus on the participant has become more important than ever, and we must appreciate the amazing privilege we have of helping hardworking Americans get to retirement financially secure. I also believe a successful retirement plan adviser today should be more focused on outcomes and not necessarily the inputs. We want to measure the success of the retirement plan with key metrics such as participation rates, average deferral rates, income replacement ratios, fund diversification and participant satisfaction.

PLANADVISER: Has the focus or character of your practice shifted meaningfully over time to respond to evolving client demands, market pressures or the emergence of modern technologies?

Duffy: My practice has shifted gradually over time to focus on items that are most important to my clients, including contemporary plan design, competitiveness in their industry, overall financial well-being for the plan participants and a commitment to service beyond expectations. I have also worked hard to embrace technology and determine the ways we can implement new processes to serve our clients. On an additional note, I work hard to give back to the industry and want to make sure the advisers who work for me are committed to being students of the game.

PLANADVISER: What are some of the most important growth strategies that have generated success for your firm? Where do you source new clients most effectively?

Duffy: A growth strategy that has generated success is commitment to building a team of enthusiastic and committed retirement plan advisers who are focused on helping plan sponsors create best-in-class retirement plans and on helping plan participants attain their ‘successful picture’ of retirement. The second piece of my growth strategy is to exceed client service expectations for both the plan sponsor and the participants. For the plan sponsor, this means staying focused on the five components of a successful retirement plan—plan design, participant engagement, investment processes, fiduciary governance and vendor management. My focus has evolved from addressing the traditional 3 Fs of fees, funds and fiduciary process to embracing a more comprehensive approach that encompasses the 4 Ps of prudence, process, protection and participants.

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

Duffy: My goal is to build a sustainable growth model that enhances the client experience. Our team focuses on prioritizing our existing relationships by staying connected with them throughout the year with clear, concise information and being available to serve as an extension of their team. As a retirement plan adviser who cares about our clients and participants, I know there are more people we can help, but I want to make sure we do not stop servicing our existing clients in a way that exceeds their expectations. If we build strong client relationships with our existing clients, it will open the door for helping more in the future. I have always believed in the rule that my parents taught me to “work hard and do the right thing,” and this means taking care of the people who are in front of me today.

PLANADVISER: What is something you or your team learned the hard way about this business?

Duffy: One of the hard things I learned is that every plan sponsor has a different understanding of their role as a fiduciary and how retirement plan expenses work. It is our responsibility to make sure we give them the resources they need to truly understand all the expectations around being a fiduciary and all the various components of the expense picture. 

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

Duffy: The most challenging aspect of the job is staying abreast of all the changes from a legislative standpoint, as well as from a vendor standpoint. Legislatively, we need to have a good understanding of all the changes that are coming, and then we also need to make sure we understand how each of the vendors or recordkeepers are addressing each of these items.

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?

Duffy: I believe the retirement plan industry will continue to evolve over the next decade, and retirement plan advisers will need to continue to be leaders for their clients in plan design features, plan income solutions, managed accounts and all things automation. It will also be important for plan advisers to stay focused on the ultimate beneficiaries of retirement plans—the participants—and to commit to helping plan sponsors deliver a comprehensive, individualized participant education program.

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

Duffy: I think the thing that makes my team stand out in the world of retirement plan advisers is that we love what we do. We are enthusiastic about our role and always work hard to help build a best-in-class retirement plan for our clients and their employees. We want all our plan sponsors to feel confident about their retirement plan and have fully engaged participants who know the path forward to a successful retirement. At the end of the day, we understand that we have been given the great privilege of helping diligent Americans reach retirement financially secure, and it makes us smile when we see everything come together!

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