2025 PLANADVISER Retirement Plan Adviser of the Year
Inclusivity and Career Development

Francisco Abril

Vice President, Financial Wellness and Employee Engagement,
HUB International

FINALIST

Business at a Glance as of 12/31/24

  • Location: McLean, Virginia
  • How many retirement plan assets do you have under advisement? $172B
  • What is your median plan size (in assets)? $5.9M
  • How many plans do you have under administration? 10,000+
  • How many participants in total do you serve? 2 million
  • Parent firm: HUB International/Global Retirement Partners

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

Abril: At HUB Retirement & Private Wealth, success means helping clients achieve their retirement goals, improve financial outcomes and financial security. Key metrics for my success are growth of retirement savings by tracking the increase in clients’ retirement funds over time. Focus on client satisfaction and outcomes and measuring percentage of clients meeting retirement targets.

PLANADVISER: What challenges do you think the retirement plan industry faces, and what role do you have in addressing and confronting those challenges?

Abril: The retirement plan industry faces several significant challenges. One of the most critical is the demographic changes that we’re seeing with a more diverse workforce, in which we need to adapt and understand each client’s needs. Second: an aging population. There are more retirees drawing from their savings than younger workers contributing to them. Finally, regulatory changes: With frequent updates to retirement plan regulations, such as the SECURE Acts, plans require continuous adaptation.

For HUB International, addressing these challenges involves:

  • Providing Comprehensive Advice: Offering tailored financial advice to help clients navigate regulatory changes and optimize their retirement strategies.
  • Innovative Solutions: Developing and implementing new retirement plan options to increase coverage and participation.

PLANADVISER: Why is it important to broaden the makeup of the advisory industry in the next five to 10 years? What advice can you give to industry peers about the need to get involved with recruiting more people?

Abril: We need enhanced client understanding with a diverse advisory workforce that can better understand and meet the needs of a varied client base, offering more personalized and effective strategies. We need to bring diverse perspectives and ideas, fostering innovation and creative solutions to complex financial challenges. Clients are more likely to trust and feel comfortable with advisers who reflect their own backgrounds and experiences. Finally, we need to be a diverse team that can be more adaptable, resilient and better equipped to handle industry changes and economic changes and be more open to understand clients’ needs.

PLANADVISER: When addressing the lack of youth or diversity in the financial advisory industry, how do you go about moving from words and ideas to action?

Abril: Addressing the lack of youth and diversity in the financial advisory industry requires moving from words to action through several key steps:

  • Active Recruitment: Implement targeted recruitment strategies to attract young and diverse talent. This includes partnering with universities, hosting career fairs and offering internships to underrepresented groups.
  • Mentorship Programs: Establish mentorship programs to support the professional development of young and diverse advisers. Pairing them with experienced mentors can help them navigate the industry and advance their careers.
  • Inclusive Culture: Foster an inclusive workplace culture that values diversity. This involves training staff on diversity and inclusion, promoting open dialogue and ensuring diverse voices are heard and respected.
  • Professional Development: Invest in continuous education and training for all advisers, with a focus on diversity and inclusion. This helps ensure that all team members are equipped to serve a diverse client base effectively.
  • Community Engagement: Engage with diverse communities to build trust and awareness about financial advisory services. This can include community workshops, financial literacy programs and partnerships with local organization.

PLANADVISER: What’s your favorite book or podcast?

Abril: The Minority Money Podcast, hosted by Emlen Miles-Mattingly, is a fantastic resource for financial planning and wealth-building strategies tailored to minority communities. It covers a wide range of topics, including investment strategies, financial literacy and personal finance tips, all aimed at empowering listeners to achieve financial success.