Mark Olsen

Founder, Managing Director,
PlanPILOT

Business at a Glance as of 12/31/24

• Location: Chicago, Illinois
• How many retirement plan assets do you have under advisement? $15B
• What is your median plan size (in assets)? $49M
• How many plans do you have under administration? 236
• How many participants in total do you serve? 163,000
• Parent firm: Not applicable

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

Olsen: Our team is unique in the marketplace due to our exclusive focus on the 403(b) market and nonprofit organizations. With many years of experience and deep credentials in the nonprofit sector, we specialize solely in retirement plan consulting. Unlike firms offering broader wealth management or advisory services, our expertise is dedicated entirely to helping nonprofits optimize their retirement plans and achieve long-term success.

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

Olsen: The best advice I’ve ever received came from Kris Ford during the first year of my professional career. She told me to listen—not only to what clients say, but also to their tone, language and level of understanding. If a client is comfortable with complex terminology, speak in those terms. However, if they are new to retirement planning and the industry jargon, simplify your language. In every case, it’s essential to understand what the client truly values and tailor your communication to their goals and desires. This advice has been invaluable in retirement planning, allowing me to provide more effective, personalized guidance—something many investment advisers overlook.

PLANADVISER: Why do you feel that retirement plan advisers should get involved in the expansion of the DC retirement plan system to cover more employers and, in doing so, more employees?

Olsen: Retirement plans are becoming more complex for employers, particularly as they navigate an increasingly challenging market. As regulations evolve and plan features grow more intricate, employers are faced with increased complexity in terms of managing risk in retirement benefits. While employees expect retirement plans as a crucial benefit, and employers want to provide them, the intricacies of offering a competitive and effective retirement benefit have grown significantly. This is where retirement plan advisers can play a vital role. By getting involved in expanding the defined contribution retirement plan system, we help bridge the gap between employers’ needs and their ability to provide quality benefits. Our expertise allows us to simplify the process, ensure compliance and create tailored solutions that meet the specific needs of each employer. In doing so, we can help more employers offer robust retirement plans and give employees the benefits they require, fostering financial security for all parties involved.

PLANADVISER: How is your service model different for MEPs/PEPs compared than for single-employer plans?

Olsen: Our service model for MEPs and PEPs differs from single-employer plans by adding a community approach. We bring together multiple organizations in our MEPs and plan sponsors from across the nonprofit sector in our PEPs, easing the challenges of managing a plan independently without administrative support or expert guidance. Through our pooled solutions, participants gain access to valuable resources. Together, we review quarterly investment summary information, allowing us to see firsthand how economies of scale benefit participants. This collaborative environment fosters shared learning and provides insights into the positive impact of pooled resources on plan performance.

PLANADVISER: What’s your favorite book or podcast?

Olsen: “The Grapes of Wrath.” Not a typical answer, I know, but my English teacher, Dr. Hollinger’s, attention to Steinbeck’s language and descriptive analysis of the themes in this book have informed my lifelong love of reading.