2025 Top Retirement Plan Adviser: David Hanson
Thoughts from David Hanson, with IIS Financial Services.
David Hanson
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 David Hanson of IIS Financial Services in South Portland, Maine.
PLANADVISER: What does it take to be a successful retirement plan adviser in 2025?
Hanson: Success in 2025 demands adaptability to ongoing changes in the industry, as well as providing exceptional, personalized client service and communication to participants and the plan sponsor. Staying nimble to address demographic shifts, regulatory changes such as the SECURE Act, keeping up with emerging technologies and evolving employee needs.
PLANADVISER: What are some of the most critical growth strategies that have generated success for your firm? Where do you source new clients most effectively?
Hanson: Our growth has been driven by our exceptional customer service, building relationships with current clients, plan sponsors, participants and CPAs. This organic growth enables us to earn their trust for referrals.
PLANADVISER: How do you balance the desire to grow with the need to keep clients happy?
Hanson: Our clients come first, and we thrive on effective communication and exceptional service. When we onboard new clients and meet with them during the year, we review our service and communication calendars to determine how and when they prefer to be contacted, as well as the types of education or communication they and their participants would like to receive throughout the year.
PLANADVISER: What are the most challenging aspects of the job? What are the most enjoyable?
Hanson: One of the most challenging aspects of being an adviser is navigating things that are out of our control, such as regulatory shifts, market volatility, global conflicts, technology implementation and integration challenges.
We strive to understand our clients’ goals and then design, tailor and implement retirement plan solutions that align with them. Helping to manage challenges enables our clients to grow their businesses without undue complication or burden, allowing them to provide good benefits to their employees.
One of the most enjoyable aspects of the job is simplifying these burdens using our KISS Method, which stands for “Keep It Simple and Straightforward.”
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?
Hanson: The scope and structure of employer retirement plans will continue to evolve, and technology will play a significant role in that evolution. Trends that will take place in the next 10 years include:
- A greater demand for financial wellness and education becoming a shared responsibility between employees and employers;
- Retirement income solutions for a reliable source of income;
- Automation will increase for enrollments and contributions;
- Consumers will prefer to conduct financial business online, but they will also want local and personalized advice. As a firm, we will need to adopt fintech tools and digital applications more easily;
- Employees will be more susceptible to business sustainability and interested in environmental, sustainability and governance investment options, as well as wanting other investment products, such as cryptocurrency/blockchain, private markets and real estate; and
- Participants will expect companies to “know them” and provide offerings tailored to their specific needs.
Here at our firm, we are building for the future by developing internal talent, leveraging new technologies, working with startup companies and growing small businesses. We are expanding our capabilities while utilizing our service, education and communication model.
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