Sean Bjork

President, Bjork Asset Management

Business at a Glance as of 12/31/24

• Location: Northbrook, Illinois
• How many retirement plan assets do you have under advisement? $671.2M
• What is your median plan size (in assets)? $7.1M
• How many plans do you have under administration? 31
• How many participants in total do you serve? 5,666
• Parent firm: Not applicable

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

Bjork: Success for us is simple: better outcomes for participants. Everything else—growth, referrals, recognition—flows from there. Like many, we measure success by tracking plan-level metrics like participation, deferral rates, asset allocation and retirement readiness benchmarks. Where we differ is that we spend a great deal of time on the behavioral component, educating committees on the need for action and how effectively we can “nudge” participants in the right direction.

By measuring participant-level engagement and behavior—for example, open rates on our direct-to-participant campaigns, coaching utilization, actions taken post-session (within 10 days), recordkeeper behavioral metrics and staying informed on current industry studies—we’re able to show measurable results to plan sponsors with pre- and post-campaign snapshots.

PLANADVISER: What’s the best advice you’ve ever received and from whom did it come?

Bjork: I wish I could give credit for the origin of this advice—a participant in an on-site workshop once told me it comes from Stoic philosophy and the teachings of Epictetus, though I can assure you I did not find this directly from the source! I’ve been using a diagram of two overlapping circles in nearly all my participant-facing presentations and in my own professional and personal life since the beginning of my career as a wholesaler. One circle is “Things That Matter,” and the other is “Things I Can Control.” The tiny area where the two circles overlap is where we strive to spend our time and energy. Worth noting the irony here—in taking the time to write this answer, I am breaking that advice, since whoever is selected as the ultimate winner of this award is completely beyond my control!

PLANADVISER: Please describe your service model in serving participants (including frequency of work, as well as how you are compensated).

Bjork: We take a high-touch, high-trust approach to participant service. Every plan includes quarterly participant communications (via video, email or mobile), annual or semi-annual on-site education, access to myself and my mobile number as the plan’s adviser (regardless of their role or account balance!) and, in many cases, access to independent, confidential, non-product-driven CFP coaching through one of our partners. In addition, participants can schedule one-on-one virtual meetings directly for more advanced advice and planning.

All of this is built into our flat advisory fee—there’s no additional cost to the participant and no pitch. Our wealth management and planning sales strategy is simply no longer saying, “No,” when asked if we can help outside the plan. Compensation is fully transparent and aligned with our fiduciary duty. Our goal, as always, is to make meaningful coaching, advice and guidance available to everyone in the plan, regardless of income or assets.

PLANADVISER: What are three of the biggest challenges that plan participants face today? How are you helping to address them?

Bjork: The challenges are:

• Financial Stress: Many participants are navigating instability, from cash flow issues to emergency expenses—and this exists across the entire compensation spectrum. We’re helping to address this by working with sponsors to look at dedicated emergency savings plans and by directly engaging with plan participants, providing coaching, advice and customized action plans to build financial resilience.
• Access to Advice: Historically, only high-income earners received personalized guidance, or it was only available when buying high-margin financial products. We’ve flipped the script by offering one-on-one support to all participants and remain focused on the long game. Younger employees and those not yet participating are all welcome to book meetings and receive coaching and advice.
• Trust: The financial services industry has work to do rebuilding trust. By showing up with genuine interest and empathy, no sales agenda, no product and no pitch, we’ve built real relationships with participants—and helped them take action toward a better future.
• Noise: Our industry, like many these days, has become a sea of “hot takes” and noise. By helping investors understand the keys to long-term success, potential behavioral pitfalls, the neuroscience behind them and how to better navigate uncertainty, we can all help cut through the noise.

PLANADVISER: What’s your favorite book or podcast?

Bjork: I’m a bit of a nerd and like to have a few books going simultaneously. Presently, I’m reading “Essentialism: The Disciplined Pursuit of Less,” by Greg McKeown; “The 5AM Club,” by Robin Sharma; and “Co-Intelligence: Living and Working with AI,” by Ethan Mollick. All of which have been immediately impactful on my life and work. Additionally (I’m embarrassed to admit), I’ve had Thomas Pynchon’s “Gravity’s Rainbow” on my nightstand for about 10 years and decided to start again at the beginning—this is the year!

To more directly answer the question, if I had to pick one title as an all-time favorite, it would be “Wind, Sand and Stars,” by Antoine de Saint-Exupéry. Better known for his children’s book “The Little Prince,” “Wind, Sand and Stars” is his autobiographical account of working as a pilot in Saharan Africa during the 1920s and 1930s—an absolutely timeless mix of adventure, danger, wonder, coming of age and aviation that never gets old.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advisory services offered through Global Retirement Partners, LLC, a registered investment advisor. Global Retirement Partners, LLC and Bjork Asset Management are separate entities from LPL Financial.