Torchora
Back to Home

Key Responsibilities and Required Skills for Investment and Retirement Specialist

💰 $ - $

FinanceWealth ManagementRetirement Services

🎯 Role Definition

The Investment and Retirement Specialist is a client-facing retirement plan and investment advisor responsible for designing, implementing, monitoring, and optimizing employer-sponsored retirement programs (401(k), 403(b), defined contribution plans) and individual retirement solutions (IRAs, Roth IRAs). This role combines fiduciary governance, investment due diligence, participant education, plan administration oversight, and business development to ensure clients meet long-term retirement objectives while remaining compliant with regulatory requirements. The Specialist partners with recordkeepers, TPAs, investment committees, and internal sales and operations teams to deliver holistic retirement advice and scalable plan solutions.

SEO/LLM keywords included: retirement plan consultant, 401(k) advisor, fiduciary advisor, investment due diligence, ERISA compliance, participant education, retirement income strategies, asset allocation, IRA rollovers, recordkeeper oversight.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Financial Advisor or Wealth Management Associate with retirement planning responsibilities
  • Retirement Plan Analyst or Plan Administrator at a recordkeeper or TPA
  • Institutional or Investment Analyst supporting DC plans

Advancement To:

  • Senior Investment & Retirement Consultant
  • Director of Retirement Plan Advisory / Head of Retirement Solutions
  • Institutional Portfolio Manager or Head of Defined Contribution Strategy

Lateral Moves:

  • Institutional Sales / Relationship Management for retirement plans
  • Product Manager for recordkeepers or retirement platforms
  • Corporate Benefits or Compensation Strategy roles

Core Responsibilities

Primary Functions

  • Lead comprehensive investment due diligence for client retirement plans by evaluating fund managers, reviewing performance attribution, assessing expense ratios, and producing written recommendations aligned with fiduciary best practices and the plan's Investment Policy Statement (IPS).
  • Act as a fiduciary-level advisor to plan sponsors and investment committees, guiding governance processes, documenting prudent decision-making, preparing committee meeting agendas, and maintaining fiduciary minutes and investment policy documentation.
  • Design and recommend asset allocation models and target-date glide paths tailored to participant demographics, risk tolerance profiles, and long-term retirement income objectives, including stress-testing outcomes under different market scenarios.
  • Prepare, present, and defend investment recommendations and plan health analyses to executives, trustees, or committee members using clear data visualizations, performance benchmarking, and fee benchmarking versus industry peers.
  • Oversee end-to-end retirement plan implementation and conversion projects, coordinating with recordkeepers, third-party administrators (TPAs), legal counsel, ERISA consultants, and internal operations to ensure timely onboarding and data integrity.
  • Manage participant-level education and engagement strategies by designing workshops, webinars, participant communications, enrollment materials, and one-on-one counseling sessions to increase deferral rates and improve retirement readiness.
  • Provide hands-on advice for IRA rollovers and retirement distributions, addressing tax-efficient strategies, Roth conversion considerations, required minimum distributions (RMDs), and annuity options when appropriate.
  • Monitor and review plan-level administrative processes, including nondiscrimination testing support, compliance testing coordination, and oversight of plan auditors; escalate remediation plans for operational or compliance gaps.
  • Maintain and update model portfolios, monitor glide path performance, and rebalance fund lineups as necessary to reflect market conditions, product changes, or plan-specific objectives while documenting rationale for fiduciary protection.
  • Lead request-for-proposal (RFP) processes for recordkeepers, TPAs, and investment managers by developing scope of services, evaluating vendor responses, conducting vendor due diligence, and presenting vendor selection recommendations to clients.
  • Conduct ongoing plan reviews and quarterly or annual reporting that includes investment performance summaries, participant behavior analytics, fee transparency reports, and action plans to optimize plan outcomes and reduce hidden costs.
  • Support new business development and retention through proposal creation, investment deck development, client testimonials, case studies, and participation in client-facing meetings or roadshows alongside sales teams.
  • Provide specialized retirement income planning for high-net-worth participants, including cash flow modeling, Social Security optimization, longevity risk mitigation, and longevity annuity or guaranteed income product evaluation.
  • Coordinate with internal compliance and legal teams to ensure all retirement plan communications, disclosures, and advisor behaviors are consistent with SEC, FINRA, DOL, and ERISA guidance; implement remediation and training when required.
  • Perform quantitative analysis and financial modeling using Excel and retirement planning software to forecast participant outcomes, measure plan leakage, and create actionable recommendations to increase retirement readiness metrics.
  • Serve as an escalation point for complex participant and sponsor issues—such as plan terminations, mergers and acquisitions transitions, QDROs, and hardship/distribution inquiries—ensuring appropriate legal and operational steps are followed.
  • Maintain client service excellence by tracking service-level agreements (SLAs), vendor performance, plan transaction timeliness, and participant satisfaction metrics; produce improvement plans and hold vendor partners accountable.
  • Develop and deploy fiduciary governance frameworks and educational programs for plan fiduciaries, including fiduciary training sessions, trustee onboarding kits, and customized governance scorecards.
  • Build and maintain strong cross-functional relationships with sales, operations, product, and technology teams to influence product roadmap enhancements (e.g., participant portals, retirement calculators) and streamline advisor workflows.
  • Ensure continuous professional development and licensure maintenance (Series 6/7/63/65/66, CFP, ChFC, ERPA, or relevant state insurance licenses) and deliver internal trainings to upskill junior advisors on retirement plan best practices.
  • Create and maintain comprehensive documentation for each client engagement, including investment committee materials, plan review memoranda, action item trackers, and compliance attestations to support audits and regulatory reviews.
  • Analyze participant-level behavioral data (enrollment rates, deferral patterns, contribution sources) to design targeted interventions—such as auto-enrollment, auto-escalation, or default fund strategy updates—to lift participant outcomes.
  • Evaluate and recommend fee structures, revenue-share arrangements or bundled pricing options, negotiating transparent terms with vendors and ensuring alignment with client cost-savings and compliance goals.
  • Collaborate on and support multi-employer or pooled employer plan (PEP) implementations, including design considerations, fiduciary allocation, and vendor selection, while advising on risk transfer and governance implications.
  • Drive innovation in retirement product offerings by piloting custom solutions (financial wellness tools, debt-paydown modules, retirement estimate engines) and measuring participant engagement and retirement-readiness uplift.
  • Assist HR and benefits teams with plan communications and change management during life-cycle events (mergers, benefit redesigns, legislative changes), ensuring accurate messaging and minimal participant disruption.

Secondary Functions

  • Produce thought leadership content and market commentary on retirement trends, regulatory updates, and investment strategy insights to support marketing and client education.
  • Support internal data reporting initiatives by feeding plan analytics into business intelligence platforms and partnering with analytics teams to surface actionable business insights.
  • Participate in cross-functional agile initiatives to improve advisor tooling, CRM integrations, and streamline the proposal/engagement lifecycle.
  • Mentor junior advisors and retirement analysts, providing on-the-job training, review of deliverables, and career development feedback.
  • Assist with ad-hoc strategic projects such as competitive analysis, new market entry assessments, and pilot program evaluations to expand retirement services capabilities.

Required Skills & Competencies

Hard Skills (Technical)

  • Retirement plan consulting and fiduciary advisory (ERISA, DOL fiduciary standard)
  • Investment due diligence and manager selection experience (mutual funds, ETFs, target-date funds)
  • Asset allocation, portfolio construction, and target-date glide path design
  • Plan design and administration knowledge for 401(k), 403(b), 457, and IRA products
  • Regulatory compliance expertise (ERISA, DOL, IRS rules; familiarity with Form 5500)
  • Advanced Excel modeling, Monte Carlo simulations, and financial planning software (e.g., eMoney, MoneyGuidePro, NaviPlan)
  • Performance attribution, benchmarking, and fee benchmarking analytics
  • Experience with recordkeepers and TPAs, including RFP management and vendor oversight
  • Proficiency producing client-ready presentations (PowerPoint) and investment committee materials
  • Data-driven participant analytics, segmentation, and behavioral intervention design
  • Knowledge of retirement income strategies, annuities, and IRA rollover mechanics
  • Familiarity with CRM systems (Salesforce, Redtail) and business intelligence tools (Tableau, Power BI)

Soft Skills

  • Exceptional client-facing communication and presentation skills for senior stakeholders and committees
  • Strong analytical mindset with attention to detail and ability to interpret complex investment data
  • Strategic thinker with the ability to translate regulatory guidance into pragmatic client actions
  • Relationship builder who can influence plan sponsors, fiduciaries, and vendor partners
  • Project management and organization skills to run implementations and remediation projects
  • Problem-solving and decision-making under ambiguity, especially for plan-level escalations
  • Coaching and mentorship ability to develop junior team members
  • Sales acumen and business development instincts to support organic growth and renewals
  • Empathy and pedagogy for effective participant education and behavior change initiatives
  • Time management and prioritization skills to handle multiple client portfolios and deadlines

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in Finance, Economics, Business Administration, or related field.

Preferred Education:

  • Bachelor's degree plus CFP (Certified Financial Planner), ChFC, CFA, or Master's in Finance/MBA preferred.

Relevant Fields of Study:

  • Finance
  • Economics
  • Business Administration
  • Financial Planning
  • Actuarial Science

Experience Requirements

Typical Experience Range:

  • 3–8 years of progressive experience supporting retirement plans, investment advisory, or institutional/defined contribution consulting.

Preferred:

  • 5+ years in retirement plan consulting or investment advisory for employer-sponsored plans, with documented experience leading fiduciary reviews, RFPs, implementations, and participant engagement programs.
  • Hold or be willing to obtain relevant licenses (Series 6/7/63/65/66), CFP designation, or appropriate state insurance licenses for annuity product recommendations.
Explore More Careers