Patrick McCallister

Manager of Institutional Sales, Henderson Brothers Financial Partners

Business at a Glance

PLANADVISER: What differentiates your team in a crowded advisory marketplace today? Please expand on what you do differently in practice, not philosophy.

McCallister: HBFP’s retirement plan practice is differentiated by its effort to deliver efficient, flexible solutions that align plan design, fees and governance with each client’s specific needs. We focus on creating structures that reduce complexity and cost where standardization makes sense, while preserving flexibility for organizations that require customized plan features.

To support this approach, HBFP offers pooled solutions across multiple plan types, including pooled employer plans for both 401(k) and 403(b) plans, as well as a multiple employer aggregation program for 401(k) plans. These structures allow clients to benefit from economies of scale, streamlined administration and enhanced fiduciary oversight, while still retaining plan‑level flexibility when needed.

In addition, HBFP developed ANKR IRA, an internal individual retirement account platform designed to support SIMPLE IRA arrangements, small‑balance force‑outs and plan terminations. This program allows for continuity of service and a consistent participant experience across plan life cycles. ANKR IRA is expected to expand to include Solo(k) plan support in 2026.

Regardless of the solution the plan sponsor chooses, we know from the many industry surveys that have been conducted: Employees are stressed. To address this stress, we work with plan sponsors to deploy our financial advisers to deliver the combination of our online financial wellness hub, group meetings and individual meetings, with the metings performed in-person or virtually.

Across all solutions, our focus remains on disciplined execution—coordinating closely with recordkeepers, third-party adminsitrators and service providers to ensure plan design decisions are operationally sound, cost‑effective and sustainable over time.

PLANADVISER: What does “success” look like for your firm beyond asset growth? How do you balance business performance, client results, and team development?

McCallister: Beyond asset growth, success for Henderson Brothers Financial Partners is defined by trust, breadth of relationship and long‑term impact. Our goal is to be viewed as a trusted financial adviser—one our clients feel comfortable calling for all of their financial needs, not solely matters related to the retirement plan. While we do not lend money, we strive to be a central resource that helps clients navigate financial decisions across their organization and leadership team.

Success is also measured by our ability to improve employee financial well‑being. We recognize that retirement readiness is influenced by broader financial stressors, and in many cases, the most impactful solutions involve addressing issues outside the retirement plan itself. Helping employees build emergency savings, manage credit card debt or gain financial clarity can be just as important as increasing retirement contributions, and these efforts support stronger long‑term outcomes.

We formally measure our success by surveying our clients and are proud to have received feedback that reinforces our focus on service, trust and consistency, and that reflects our commitment to upholding the reputation of Henderson Brothers, our parent company, which has served clients for more than 133 years.

PLANADVISER: What are the biggest barriers preventing small or start‑up employers from offering retirement plans today? Which barriers are structural versus behavioral?

McCallister: For micro and startup employers, I believe the most significant barriers to offering retirement plans are behavioral rather than structural. Organizations that have been in existence for fewer than five years are typically focused on near‑term priorities such as meeting payroll, managing cash flow and sustaining growth. Retirement benefits are often viewed as a future consideration, rather than an immediate necessity.

Many of these employers lack dedicated HR staff and assume that offering a plan will introduce administrative complexity they are not equipped to manage. There is also a common perception that their employees would not participate or prioritize saving, particularly when workforces are younger or more hourly based.

While cost is often cited as a concern, hesitation is more frequently driven by uncertainty—about fiduciary responsibility, employee engagement and whether the effort will produce meaningful value. These beliefs can delay action even when viable, cost‑effective solutions are available.

Addressing these behavioral barriers requires reframing retirement plans as manageable, scalable tools that can evolve with the business, rather than as burdensome obligations introduced too early.

PLANADVISER: What specific approaches have you used to move these employers from hesitation to action?

McCallister: To help micro and startup employers move from hesitation to action, HBFP focused on building flexible, scalable solutions that reduce complexity while preserving choice. We developed multiple plan structures to meet employers where they are, including a SIMPLE IRA solution, a 403(b) pooled employer plan, a 401(k) PEP and a 401(k) multiple employer aggregation program.

These options allow employers to select an approach that aligns with their size, financial stability, workforce and internal capacity, while benefiting from shared administration and fiduciary support. Providing multiple entry points makes it easier for employers to start with a structure that feels manageable, then evolve over time.

In addition, we actively educate employers on available tax credits related to plan establishment and employer contributions. Making these incentives tangible helps reframe retirement plans as financially feasible, rather than cost‑prohibitive.

By combining simplified plan structures with education about incentives and responsibilities, we help employers gain confidence, take action and establish retirement benefits earlier in their organizational life cycle.

Securities offered through LPL Financial. Member FINRA & SIPC. Investment advisory services offered through Henderson Brothers Financial Partners LLC, an SEC registered investment advisor and separate entity from LPL Financial. Registration does not imply a certain level of skill or training. For more information about HBFP, or to receive a copy of disclosure Form ADV contact us or visit our website. HBFP provides investment advisory services only with signed investment advisory agreement.