Introducing Dan McConlogue, Our New 401(K) Director


Very big news to relay about the firm this afternoon…

It is my honor to introduce you to the new Director of Corporate Retirement Plans at Ritholtz Wealth Management, Daniel McConlogue. Dan is the principal and founder of Eleven O’Clock Associates, a financial planning, asset management and retirement plan consulting firm based in Estero, Florida.

Dan joined Ritholtz Wealth Management on January 3rd, bringing over approximately $70 million in assets under management, not counting the thousands of 401(k) participant clients whose assets are under advisement.

And now I’m going to tell you a quick story about the 401(k) biz that you’ve never heard…

Once upon a time, decades ago, a group of six OBGYN doctors in Bethesda, Maryland were looking to put away pretax income in something outside of the then-typical pension format. Their accountant, who probably should have been involved with the space program or something, somehow found a loophole and created a way to use it for exactly this purpose. This, my friends, was the invention of what we now call the 401(k).

But here’s the thing – the 401(k) was not created for the extent to which it is now being used. The scale and scope of the industry goes far beyond the original capacity of the happy accident that gave birth to it (pun intended). As Dan tells it, “the whole thing has been held together with bandaids and duct tape for years.”

And now, the rules are all changing.

Business owners – the plan sponsors – have no idea what their level of fiduciary responsibility is now or will become in the near future. Dan believes that there will be more changes to the rules in the next five years than we’ve seen in the previous 25 years combined. Everything is up in the air and up for grabs. There are several factions fighting for oversight and control of the rule book – from the Elizabeth Warren / Barack Obama faction that supports the Department of Labor’s Fiduciary mandate to the bank and brokerage lobbies that, along with securities industry groups, are fighting them tooth and nail.

If you’re a plan sponsor, you’re just trying to understand where your responsibility ends and the third party administrators’ starts. Due to complexity, opacity and the highly conflicted nature of anything financial services, these answers are never clear. Most business owners don’t even know the right questions to ask.

And don’t even get us started on the composition of the plans themselves and the investment fund choices within…forget about it.

And into this breach, on our firm’s behalf, steps Dan McConlogue.

Dan has over twenty years’ experience working with 401(k) and 403(b) planning on behalf of both sponsors and their employees. He was a pioneer of the open architecture movement and among the first (if not the first) advisors to create a platform using lower-cost, commission-free Dimensional Fund Advisors products with a TPA. Dan was also the first financial advisor in the state of Connecticut to earn the AIF designation from the Center For Fiduciaries.

Here’s the bottom line: The 401(k) industry is an $8 trillion behemoth that does a lot of good for its users and for America. But it is in a state of flux and there’s as much bad guidance being offered to businesses as there is good guidance at the current moment. Dan teamed up with Ritholtz Wealth Management to bring his expertise to our firm’s clients and beyond, while shedding light on the important truths of the marketplace. You’ll be hearing a lot more from him on the subject going forward.

In the meantime, you can follow Dan on Twitter here and reach out to us here if you think we can help you.

Welcome aboard, Mr. McConlogue, we’re thrilled to have you on the team!

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web
  1. Answering Larry’s Call commented on Feb 03

    […] into our next phase. Over the last few months, we’ve announced many major hires. Last week, I introduced Dan McConlogue, who has agreed to become our Director of Corporate Retirement Plans. Dan has two decades of […]

  2. The Paradox of Quant commented on Aug 03

    […] My friend and colleague Dan McConlogue tells a great story about The Merger Fund, an arbitrage mutual fund meant to profit from the distance between an acquirer’s offer and a target’s price in the narrow window of time between the announcement of a takeover and the closing of the deal. It was a great fund and the profits were both non-correlated and steady. […]

  3. w88 commented on Sep 21

    … [Trackback]

    […] Here you can find 71628 more Info on that Topic: […]

  4. bitcoin loophole reviews 2020 commented on Sep 28

    … [Trackback]

    […] Find More on on that Topic: […]

  5. Omicron optics commented on Oct 14

    … [Trackback]

    […] Read More to that Topic: […]

  6. DevOps services commented on Nov 27

    … [Trackback]

    […] Find More on that Topic: […]

  7. Progressive Regression Testing commented on Dec 02

    … [Trackback]

    […] Here you will find 87070 more Info on that Topic: […]

  8. best synthetic wigs commented on Dec 08

    … [Trackback]

    […] Find More on that Topic: […]

  9. diamond painting kits commented on Dec 29

    … [Trackback]

    […] Here you will find 47281 more Info to that Topic: […]

  10. entrar commented on Jan 13

    … [Trackback]

    […] Here you will find 81450 more Info on that Topic: […]

  11. bell and ross replica commented on Jan 14

    … [Trackback]

    […] Find More to that Topic: […]