In this interview, Trey Fairman, Founder and Senior Consultant at Waypoint Retirement Advisors, shares how he made a professional transition after two decades to focus on helping business owners and eventually found his calling in the retirement planning domain.
Listen to the full interview of Trey Fairman with Adam Torres on Mission Matters Money Podcast.
After graduating from college on the east coast with a finance degree, Trey first worked at an insurance brokerage agency, making outbound sales calls and assisting other agents. After accepting a job transfer to San Diego, he enrolled in the evening program at a local law school and passed the California bar exam in 2000. He spent the following year obtaining his Masters of Laws in Taxation.
Years later, in 2016, Trey stumbled upon some doctors in Orlando who led him to explore the Safe Harbor 401k plan and the intent behind it. He considers this moment a pivotal one: “It was an eye-opening, watershed event for me,” he says.
The transition from insurance planning to retirement plan advising
“This was also the time when the estate tax laws were getting better and more liberal, so fewer people needed estate tax planning,” says Trey. This shift eventually led to the establishment of Waypoint Retirement Advisors, LLC in January 2020 as a 401k advisory group.
Having worked with Wall Street firms for over 20 years, Trey holds a breadth of knowledge in comprehensive consulting and plan design. Led by a mission to help employers and their employees make well-informed, proactive, intentional decisions about their 401k plans, Trey established a firm that not only advises businesses how to structure solid retirement plans for their employees, but also offers insights on how to drastically improve them from the employer perspective.
“The retirement plan industry has evolved from a casual investment conversation to a much more regulated fiduciary oversight process,” Trey says, stressing how important it is to seek and follow sound advice from a knowledgeable consultant.
What is different about Waypoint Retirement Advisors?
At Waypoint, Trey believes there are six essential components of good retirement plan: fiduciary oversight, education programs, plan design & tax strategy, plan operations, plan costs, and investment options. “Mutual funds are the easiest part of this process” explains Trey.
Aiming to assist business owners, entrepreneurs, and executives in building valuable retirement plans for themselves and their employees, Trey says Waypoint takes the time to offer advice tailored to each client’s specific set of needs.
On the enterprise front, Waypoint seeks out and provides unique employee education programs through self-paced resources; this is instrumental, he says, in alleviating a burden that would otherwise fall to in-house HR departments. The programs address basic investment concepts, financial planning, budgeting, and the broader topic of employee financial wellness.
About Waypoint Retirement Advisors
Waypoint Retirement Advisors help employers secure the most optimal plan for themselves and their employees. They are uniquely qualified to help both large corporate plans as well as small business retirement plans. The company offers customized retirement plan advisory services to employers based on their unique circumstances. Their goal is to provide meaningful value by delivering comprehensive consulting and plan design along with innovative solutions. As an independent, objective firm, they partner with like-minded, client-first administrators, recordkeepers, and advisors to help business leaders meet their goals.
Visit Waypoint Retirement Advisors to know more about their services and offerings.
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Source: Adam Torres / Co-Founder
Release ID: 37701