We don’t just call ourselves consultants — we act like it, delivering clarity and results.
Drive meaningful retirement results.
Get to know us
Our philosophy, Our journey, and the people behind the work.
Philosophy
Mission Statement: We believe people should be excited to retire someday. And we think they should feel empowered to take control of their future. That’s why we’re building new ways for companies to offer more competitive retirement benefits and better planning experiences that change the way their employees think about retirement.
Values: We value honest and trustworthy advice for our clients and the participants we serve. Our promise is to put your business and your employees above everything, and our dedicated service model demonstrates that each day.
Beliefs: We believe retirement should be something people are genuinely excited about. We believe that excitement starts with a plan. Not just one that meets requirements, but one that’s thoughtfully designed, clearly communicated, and deliberately managed. Retirement planning needs to be intentional. While every firm can provide a plan, we go further. We build strategies that are designed for long-term success and measurable outcomes.
We believe in doing things the right way, every time. That means offering honest, trustworthy advice and always putting our clients and their employees first. Our process is built around coordination, clarity, and ongoing analysis, not just check-the-box compliance. We work closely with business owners, advisors, and CPAs to ensure every plan is aligned with its purpose, every opportunity is explored, and every participant has a better shot at retiring with confidence. Our service model isn’t just responsive. It’s proactive, and it reflects our core belief: better planning leads to better retirements.
Meet Our People
Richard Phillips
Director of Compliance Services
I began my career more than 30 years ago as a financial advisor, but I quickly discovered that my real passion was helping retirement plans work better — not just on paper, but in practice. That path led me into the TPA and compliance space, where I’ve spent decades guiding plan sponsors, advisors, and CPAs through the complexity of ERISA with one clear purpose: to improve plan compliance and deliver better retirement outcomes.
This unique career arc — from advisor to compliance expert — gives me a practical, well-rounded understanding of the challenges our clients face. I don’t just know the rules; I know how they apply in the real world. Whether I’m consulting on plan design, solving an operational issue, or reviewing testing results, I always focus on making compliance understandable and actionable for our clients.
In addition to my day-to-day consulting work, I’m a strong advocate for industry education and professional development. I believe our field plays a critical role in shaping the financial futures of millions of Americans, and I’m proud to support that mission by promoting education through ASPPA and other industry channels.
When I’m not working, you’ll usually find me spending time with my family, …. I’m committed to this profession, and even more committed to the people we serve through it.
Dakota Morrison
President
As President of ERISA Consultants, I’m driven by a single goal: finding better, smarter ways to serve our clients and improve retirement outcomes for the people behind every plan. The retirement plan landscape is constantly evolving, and I’m committed to ensuring our services evolve with it — with a focus on innovation, efficiency, and delivering real value.
My journey in the industry started in the details — working in recordkeeping, where I learned firsthand how critical operational systems are to plan success. That early experience gave me a deep understanding of how plans function day-to-day, and it shaped my belief that great results come from aligning smart design with seamless execution.
Over time, I transitioned into client relationship management and then into consulting, earning my industry credentials and diving headfirst into plan design and compliance strategy. That combination of operational knowledge and technical consulting gives me a broad, practical lens for helping clients navigate complexity and unlock the full value of their retirement plans.
I hold a Bachelor of Science in Accounting and a Master of Business Administration (MBA), along with the QKC and QKA credentials from ASPPA and the CPFA designation through NAPA. I’m always looking for ways to expand my expertise — because better advice starts with deeper knowledge.
Outside of the office, you’ll usually find me with my wife, Megan, and our daughter, Ruthie — or on the golf course working on a swing that’s still, let’s say… under construction.
Justin Bonestroo
Consulting Actuary & Executive Vice President
As a Consulting Actuary, I work closely with advisors to design and manage retirement plans that do more than check compliance boxes — they achieve results. With a background rooted in both technical depth and strategic consulting, I bring a rare, high-level perspective to plan design and administration. My goal is to ensure that the plans we implement for clients and prospects not only meet their current goals, but continue to evolve efficiently as their needs grow.
Before joining ERISA Consultants, I was the managing shareholder of a successful retirement plan administration and actuarial firm, where I led strategy, operations, and key client consulting. That experience gave me a 360-degree view of the industry — understanding retirement plans not just as a technician, but as a business owner who has navigated growth, client expectations, and operational challenges firsthand.
I’ve also served in several leadership roles across the American Retirement Association (ARA) and its sister organizations. I’m a past President of both the American Society of Pension Professionals and Actuaries (ASPPA) and the American Society of Enrolled Actuaries (ASEA), a former ARA Board member, and have served on ASPPA’s Government Affairs IRS Subcommittee. This service reflects more than professional involvement — it’s a reflection of my dedication to advancing our field and giving back to an industry that has shaped my career.
Outside the office, I spend as much time as I can outdoors with my wife Cally, our daughter Claire, and our son Case. I coach kids’ sports, ride motorcycles, and I’m slowly restoring the 1967 Mustang I bought when I was 14 — proving some long-term investments are personal.
Our History
ERISA Consultants was originally founded in Hattiesburg, Mississippi in 1992 as an investment advisory firm focused on helping businesses build better retirement outcomes for their employees. From the very beginning, the firm’s mission was rooted in practical guidance, client-focused solutions, and a deep understanding of fiduciary responsibility.
In the early 2000s, the firm expanded its services to include plan administration and recordkeeping — a move that allowed us to deliver a more integrated experience for plan sponsors and their advisors. By bringing administration and investment oversight under one roof, we created a more coordinated, efficient, and consultative approach to retirement plan management.
As the industry evolved, so did we. In 2015, we began investing heavily in custom technology development — building tools and processes that simply didn’t exist in the marketplace. Our in-house tech solutions were born out of necessity: the need for better automation, cleaner data, and streamlined client experiences. Today, that forward-thinking approach continues to shape how we serve clients — with smarter systems, clearer communication, and more control over the things that matter most.
