Marshall Dodge
Director of Retirement Plans,
The Bulfinch Group

FINALIST

Business at a Glance as of 12/31/24

Location: Needham, Massachusetts
How many retirement plan assets do you have under advisement? $500M
What is your median plan size (in assets)? $3M
How many plans do you have under administration? 160
How many participants in total do you serve? 10,000
Parent firm: Park Avenue Securities

PLANADVISER: How is your team unique in the marketplace? How do you differentiate yourself from others?

Dodge: Simply put, what differentiates our team today is the level of service and customization we provide our 401(k) retirement clients—with plans of all sizes. Today, we see that much of the industry continues to move toward a “one-size-fits-all” solution for smaller retirement plans, while we take pride in striving for the opposite. We work closely with clients to find a plan that is the ideal fit for them, considering costs and the need for automated administrative functionality. Additionally, we provide employees of our clients with targeted education programs focused on holistic financial wellness. We often travel to the on-site location of our clients to meet with their employees one-on-one and address their specific financial questions and needs. If we aren’t traveling, we offer this same option to plan participants through virtual meetings.

PLANADVISER: What does success mean for your practice? What metrics do you use to measure success?

Dodge: To me, success is getting the opportunity to work with new organizations and being able to help them identify and solve unmet needs or problems that they either were unaware of, or previously believed they could not find a solution for. Success is making plans accessible and understandable to more organizations and employees, regardless of size. Success is also measured by impact—helping employees develop better saving habits and providing the education they need to make informed decisions about their financial future. We track this through strong client relationships, high retention rates and increasing employee participation. When we create successful 401(k) plans and foster trust, our clients stay with us and often refer others within their inner circle, reinforcing the value of what we do.

PLANADVISER: What are the biggest stumbling blocks to adding more tax-advantaged retirement savings opportunities in the workforce? What are you doing to try and overcome them?

Dodge: In my experience, cost is often the biggest hurdle—both as a barrier to entry and an ongoing challenge. I tackle this by finding cost-effective solutions tailored to each client’s needs while ensuring they have access to automated administrative functionality. Education remains at the heart of our practice, and I use it to help prospective clients and business owners navigate these challenges. By informing them about available tax credits for starting a plan, I help them offset costs and take meaningful steps toward financial security.

PLANADVISER: What are the biggest challenges to getting small businesses or startups to start a defined contribution plan?

Dodge: One of the biggest challenges I see is simply a lack of education. Many small business owners don’t realize the benefits of offering a retirement plan, both for themselves and for their business. Beyond helping employees save for the future, a well-structured plan can be a powerful tool for employee retention and overall business growth. That’s why education is at the heart of what we do, helping business owners understand the advantages and navigate their options so they can make informed decisions with confidence.

PLANADVISER: What’s your favorite book or podcast?

Dodge: My favorite podcast is Revisionist History, by Malcolm Gladwell.

Marshall Dodge, Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS), 160 Gould Street, Suite 310, Needham, MA 02494, 781-449-4402. Securities products and advisory services are offered through PAS, member FINRA, SIPC. Financial Representatives of The Guardian Life Insurance Company of America (Guardian), New York, NY. PAS is a wholly-owned subsidiary of Guardian. The Bulfinch Group is not an affiliate or subsidiary of PAS or Guardian. Life insurance offered through The Bulfinch Group Insurance Agency, Inc., an affiliate of The Bulfinch Group, Inc. The Bulfinch Group, Inc. is not licensed to sell insurance. The Bulfinch Group is not registered in any state or with the U.S. Securities and Exchange Commission as a Registered Investment Advisor.