RIA team running 401K to promote 401(k) plans

investmentnews.com:

On any other week, Chuck Smith helps his clients save for the long run. This week, however, the Nebraska-based registered investment advisor will be running for the long save.

Smith and his team at Qualified Plan Advisors will be running 401K — or 250 miles — in honor of National 401(k) Day Friday. The team started the 401 kilometers on Sunday and will finish the final mile Friday, on 401(k) Day, with a check presentation to Junior Achievement of the Midlands, a nonprofit that inspires and prepares young people for success.

Smith’s goal is to raise awareness about financial planning, building a 401(k) and expanding financial literacy among all ages and populations.

“Besides the obvious similarity that both marathoning and saving for retirement are long, slow journeys, the need to plan is probably the most important shared attribute,” Smith said. “Just as nobody wakes up one morning and jumps into a marathon or ultra-marathon, nobody should simply decide one day not to go into the office anymore and retire. Instead, once a race date or target retirement date is selected, a program needs to be created with specific tasks designed to prepare one for that goal date.”

Smith has been an advisor with Qualified Plan Advisors since 2020, but he’s been in the retirement plan industry since 2003, when he became an ERISA attorney.

His love for long distance running, however, goes back further. He ran his first marathon right after graduating from college, way back in 1997. Since then, he’s run more than 50,000 miles while completing upwards of 35 marathons and numerous 50- and 100-mile ultra-marathons.

As to why he decided to mix his two passions — retirement and running — Smith says it started a few years ago when a coworker gave