Advocacy Relationships and Practice Development

Bill Fisher

Editor’s Note: Bill Fisher, Chairman of the NTSA Professional Education Committee sat down with Jerry Miletics of AXA Advisors, LLC to talk about advocacy and practice development. The following illustrates how they are connected, and how it really is all about relationships.

Jerry Miletics began his career with AXA Advisors, LLC 18 years ago, and started working in the 403(b) marketplace, developing a business that focused on K-12 educators. Early in his career he spent much of his time in the traditional role of an advisor, growing his business from within his local school districts, and being referred from one professional educator to another. The growth was steady, but Jerry was eager to leverage his relationships, and growing industry knowledge, to strengthen his position in the Pennsylvania K-12 market.

During the course of 2008 and 2009, Jerry was introduced to Dr. Clyde Hornberger, who at the time was the President of the Pennsylvania Association of Career and Technical (School) Administrators or PACTA. Jerry began to work as a Financial Advisor to Dr. Hornberger, and because of the development of that relationship, he was provided an introduction to PACTA. Jerry’s advocacy for that organization began by volunteering to be a vendor at the annual PACTA Conference in State College, PA. While there were other 403(b) providers who were active in the Career and Technical School community, it was evident to Jerry that this segment of the K-12 market in Pennsylvania was underserved in the retirement benefits area. Through his multiple appearances as a vendor at PACTA Conferences, Jerry developed strong professional relationships not only with conference attendees, but the Conference Leadership. The Leadership responded by requested that he be a presenter in Conference breakout sessions in future years, specifically on the topic of retirement benefits. A great number of career and technical faculty members are in their “second career”, in their educator positions. They also have more experience in the for-profit world than most educators, and have a keen interest in the combination of a traditional pension and defined contribution option available in the public sector. Additionally, many administrative staff members at these schools negotiate their own contracts, and use their knowledge of the retirement planning options in those discussions. Jerry is frequently asked to speak on “retirement advantages and options”, to more thoroughly inform his clients who are preparing for contract negotiations. The combination of his deep knowledge base in the 403(b) and 457(b) plan arena, expertise in the PA State Teacher’s Pension (PSERS), and the trust earned over the years, this was natural next step for his growing relationship with PACTA. Jerry is now regarded as an advocate and technical expert that the membership of PACTA can call on for questions related to all retirement plan options for educators in their association.

Another aspect of a strong relationship with PACTA, is the opportunity to work with additional school districts throughout Pennsylvania. There are 80 Career and Technical Centers (CTC’s) across Pennsylvania, and 120 more school districts that offer PA Dept. of Education approved career and technical education. The Senior Administrators of the 80 CTC’s, in turn have excellent relationships with the individual school districts they serve County-wide, and in some cases serving multiple Counties. This network of specialty organizations, spread throughout the State, has allowed Jerry to grow his practice more efficiently, as a specialist for this market segment. The relationship with his network of CTC Administrators, allows him access to this market that very few Financial Advisors enjoy. His willingness to put the needs of his clients (and their associations) ahead of his own, as well as his continued growth as a technical expert, helps him maintain this vital market relationship. Jerry and his team are now recognized for Administrative Leaders at nearly 200 schools in the State.

From a practice development standpoint, his work with PACTA has contributed substantially to the growth of his organization, over the last 7+ years.  Over these years, his practice has continued to evolve and grow. Expanding from a product specialist environment, his practice has grown and become part of a multi-member, full service financial planning organization, with its foundation in the non-profit and governmental marketplace. His individual practice has grown to over 2500 households and $82mm in assets. He has developed skills and product expertise promoting the multi-member practice’s expansion beyond traditional annuity based k-12 public plans, into charter schools, ERISA 403b plans, and the utilization of open architecture mutual fund based platforms in all markets.

Bill Fisher is Chairman of the NTSA Professional Education Committee.