GuideStone trustees elect Dilbeck as next CEO

DALLAS (BP)—In a called meeting May. 20, the GuideStone board of trustees unanimously elected D. Hance Dilbeck Jr. as president-elect.

Dilbeck will begin service July 1 alongside current GuideStone President O.S. Hawkins. After a transition period, Hawkins will become president emeritus and Dilbeck will become president and CEO in the first quarter of 2022.

Dilbeck, executive director-treasurer of Oklahoma Baptists since 2018, accepted the call and gave thanks to the Lord, his family and trustees for the opportunity to serve at GuideStone.

Steve Dighton, retired pastor of Lenexa (Kan.) Baptist Church and chair of the presidential search committee, said the committee bathed the process in prayer to seek out the Lord’s candidate in this process. He said 15 candidates were recommended.

“We established a process where we were determined to only consider prospects recommended to us from our Southern Baptist family,” Dighton said. “We solicited feedback for three months, and even added one more month to give time for more recommendations to come in.”

Hawkins expressed his confidence to trustees in their selection.

“Hance Dilbeck is one of the most respected men in Southern Baptist life,” Hawkins said. “He has pastored all sizes of Southern Baptist churches, has a heart for serving pastors from small, medium and large churches; he understands the dynamics and complexity of GuideStone’s ministry, and he is a quick learner.

“And he is among the humblest men I’ve ever known, so he’ll be one who has a learner’s heart as he embarks on this new calling from the Lord. Susie and I are holding Hance and Julie in our hearts and prayers, and we invite Southern Baptists to join us in lifting them up.”

Dilbeck’s wife, Julie Dilbeck, has served as a GuideStone trustee since 2019. She resigned her post at the called meeting and did not vote in the selection process.

Background in pastorate, denominational service

Dilbeck has served Oklahoma churches as pastor for more than 30 years. He was pastor at Quail Springs Baptist Church in Oklahoma City for 15 years before being called in 2018 to lead Oklahoma Baptists. During that time, the church tripled in size even as it took part in planting 32 churches.

He has been active in denominational life, having served as chairman of the board of trustees at Oklahoma Baptist University, Southwestern Baptist Theological Seminary and the International Mission Board. He is a past second vice president of the Southern Baptist Convention.

“Julie and I have a clear sense of the Lord’s calling to GuideStone,” Dilbeck said. “We are grateful for how the search committee and their prayerful process helped confirm this calling. Dr. Hawkins has been a faithful steward and transformational leader for almost 25 years. He has assembled a world-class team.

“I am asking our Father for grace to be faithful with this stewardship and effective with the platform; serving those who serve the Lord.”

‘Bittersweet’ for Oklahoma Baptists

Todd Fisher, senior pastor of Immanuel Baptist Church in Shawnee, Okla., and the current president of Oklahoma Baptists, called the news “bittersweet.”

“We are excited for this new opportunity for Hance and know he will do an excellent job leading GuideStone,” Fisher said. “We are proud that one of our fellow Oklahomans will be at the helm of a national entity in the SBC.

“At the same time, Hance’s departure leaves a big void for us. His leadership these last three years has been stellar and visionary in keeping our state convention focused and well situated to advance the gospel together in unity.

“He will be sorely missed, but we are confident of great days ahead for GuideStone and Oklahoma Baptists.”

Dilbeck also offered his thanks to and love for Oklahoma Baptists for the opportunity to serve as their executive director-treasurer.

“We are grateful for the opportunity to serve as the pastor of great churches in Oklahoma for 30 years,” he said. “The Lord used these people to give me a shepherd’s heart. Serving as executive director put me in a position to learn from godly leaders in churches and ministries of all sizes. I have developed a burden for encouraging pastors and ministry leaders to give careful attention to their own wellness and the wellness of their families.”

Born in Pawhuska, Okla., Dilbeck earned his undergraduate in religion from Oklahoma Baptist University. He holds two degrees from Southwestern Baptist Theological Seminary—a Master of Divinity obtained in 1992 and a Doctor of Ministry earned in 2002.

The Dilbecks have three grown and married sons and eight grandchildren.




GuideStone trustees establish presidential search committee

DALLAS (BP)—President O.S. Hawkins asked trustees of GuideStone Financial Resources to appoint a search committee to begin considering a new president for the organization.

No timeline has been set regarding the 73-year-old Hawkins’ eventual retirement.

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O.S. Hawkins

Hawkins assumed the presidency of GuideStone in 1997 and has seen the ministry grow into the sponsor of the largest faith-based mutual fund family in the United States. Including the mutual funds, GuideStone has more than $18 billion in assets under management as of Aug. 31.

Mission:Dignity, which provides financial assistance to retired Southern Baptist ministers and workers and their widows, has raised more than $150 million during Hawkins’ tenure.

Trustees formed the search committee during a regularly scheduled meeting of the board, which met in a virtual format due to the COVID-19 pandemic. Members of the search committee are Chairman Steve Dighton, retired Kansas pastor; Randall Blackmon, pastor of Faith Baptist Fellowship in Cambridge, Md.; David Cox, layman who has served as treasurer of the Greater Detroit Baptist Association and secretary of the Michigan African American Fellowship; Jim Scrivner, layman in Oklahoma and long-serving member of GuideStone’s board; and David Rainwater, Arkansas layman. The committee also includes trustee board Chairwoman Renée Trewick of New York and trustee board Vice Chairman Johnny Hoychick of Louisiana as ex-officio members.

“The time has come for us to prayerfully consider who the eighth president of GuideStone might be,” Hawkins told trustees. “We are as confident in God’s call and as energized to lead as we have ever been. However, we believe the time has come to begin the process of a permanent transition. We intend to take steps proactively and methodically to ensure a smooth, seamless transition in God’s timing and with his leading.”

Trustees recognize accomplishments

Trustees applauded Hawkins’ tenure, which is approaching a quarter century, the longest of any GuideStone president.

“O.S. Hawkins was charged to ‘take something great and make it greater,’” Trewick said. “By every imaginable measure O.S. has done exactly that.”

Trewick indicated Hawkins will continue providing leadership to GuideStone for 2021 and perhaps longer if needed.

The search committee was not given a timeline to finalize a recommendation. Southern Baptists interested in forwarding recommendations may do so through Jan. 1. These should be sent via email to Tim.Head@GuideStone.org or through the mail to Tim Head, c/o GuideStone, 5005 LBJ Freeway, Ste. 2200, Dallas, TX 75244.

Total GuideStone assets increase

In other reports, Chief Operating Officer John R. Jones told trustees meeting via Zoom that despite market volatility, total assets are up almost $1 billion, or 5 percent, since the end of 2019.

“Since reaching a low in March, shortly after the pandemic began, assets have grown by $2.7 billion, or almost 18 percent,” Jones said.

While volatility remains likely due to the pandemic, the election and other headlines, GuideStone remains well-positioned to weather the current climate.

As part of the Vision 20/20 long-range plan that GuideStone completes this year, three strategic goals were identified: increasing market share, responding to changes in the marketplace and aggressively managing costs while keeping customer service No. 1. All have been priorities for the GuideStone team, Jones said.

“We have underspent our budget year-to-date by $4.4 million, or 7 percent,” Jones told trustees, adding that the savings came from underspending in travel, marketing and information technology. “Our staff has worked diligently to reduce costs throughout the organization, aggressively managing costs to keep our budget lean. In fact, we remain on track in 2020 to spend less than we did in 2014.”

Trustees also were introduced formally to Chu Soh, a retired U.S. Air Force officer and health care executive, who joined GuideStone in June as chief insurance officer.




GuideStone waives cost of COVID-19 tests

DALLAS (BP)—GuideStone Financial Resources continues to monitor the developments around the novel coronavirus and has made adjustments for participants in its health plans.

For participants in GuideStone’s health plans, including both HSA-qualified High Deductible Health Plans and Secure Health, GuideStone will waive costs for physician-ordered diagnostic testing for the novel coronavirus.

Additionally, a COVID-19 diagnosis that required a participant to miss work would be covered if a participant has short- or long-term disability coverage from GuideStone through Unum.

“We know these are uncertain days, which can breed anxiety for even the most committed believers,” GuideStone President O.S. Hawkins said. “GuideStone is committed always to honoring the Lord by being a lifelong partner with our participants in enhancing their financial security. As it relates to our health plans and other insurance coverage, we will be a trusted advocate for the churches, ministries, pastors and staff we serve.”

Watching volatile markets

GuideStone has created a resource page on its website with links to trusted resources on the coronavirus. Additionally, GuideStone has provided information related to the market volatility that has resulted in part due to the uncertainty around the coronavirus.

“We cannot be sure of the near-term ramifications of these events on the stock market and whether we will experience a quick bounce back (as we have seen during other corrections since 2008) or a longer-term downturn,” GuideStone chief strategic investment officer David Spika said.

“Two things we will be watching closely are corporate earnings growth and global economic activity, as we believe these are the most important factors in determining how stocks trade from this point forward. If the coronavirus, oil weakness or some other unforeseen catalyst puts significant downward pressure on corporate profits, there are likely to be continued sell-offs in the market.”

Anticipating that a correction was overdue for the markets, GuideStone consistently had cautioned retirement plan investors to revisit their asset allocation in light of their risk tolerance and time horizon during the market’s sustained growth.

That said, Spika said, trying to time the market rarely works in the investor’s favor.

“Market sell-offs can be dangerous for long-term investors because they can trigger fear-driven ‘market timing’ impulses to sell out of positions,” Spika said. “History has shown there’s a real cost to trying to time the market.”

Taking precautions with employees

Internally, GuideStone is taking precautions. Employees who may return from Level 2 or Level 3 countries, including South Korea, China, Iran, Italy and Japan, will be required to self-quarantine for 14 days.

GuideStone has also asked all employees to evaluate whether any conferences, trainings or meetings can be handled through teleconference or postponed until the coronavirus threat is mitigated.

“When we went through our relocation in 2018, GuideStone invested in a more mobile workforce, and all of our participant-facing staff are able to work remotely from their home or other location,” Hawkins said.

“Because of wise and affordable technology solutions, our participants would notice a seamless experience whether an employee is helping them from home or from the GuideStone office.”

Hawkins emphasized for all at GuideStone, trust is not in government or technology.

“We recognize that the Lord is in control of everything, including the coronavirus,” Hawkins said. “Our trust is in him. We are making wise preparations and monitoring the advice and direction of government and regulators, of course, and we are making contingency plans, but at the end of the day, we rest in the assurance that the Lord will guide our steps as we seek his direction.”




GuideStone urges long-term focus during market volatility

DALLAS (BP)—Market moves and minute-by-minute headlines on cable news and social media can be alarming, but David Spika, chief strategic investment officer of GuideStone, indicated volatility in the market at this point of the economic cycle would be expected.

“Stocks rallied in 2019 based on several factors, with Federal Reserve rate cuts being most prominent,” Spika said. “Corporate earnings growth and an improved global economy are the most important factors that would be necessary to continue this long-running market rally. While not impossible, the likelihood for that is diminished for several reasons. The age of the economic cycle, 11 years, is several years longer than the historical average.

“Additionally, the fears of coronavirus further slowing economic growth, and putting additional pressure on corporate earnings, means stock volatility will likely increase, and we may see more days with significant swings in the market.

“Finally, note that on average the market suffers a 10 percent decline during presidential election years, and this election cycle is likely to be more disruptive than most. As a result, investors should be cautious as they face many uncertainties during 2020.”

Coronavirus creates market uncertainty

In the United States, the Dow Jones industrial average dropped more than 1,000 points Feb. 24, wiping out all the gains the market had made so far in 2020. The S&P 500 Index, a broader measure of the market, fell more than 100 points, or a little over 3.35 percent.

On Feb. 25, markets continued the sell-off. The lower markets were largely prompted by fears that the coronavirus will slow economic output, especially in Asia.

Fears surrounding the coronavirus, known officially as COVID-19, helped drive stocks lower. South Korean officials are racing to contain the largest outbreak outside of China, and a Spanish resort was locked down after an Italian doctor in the Canary Islands tested positive for the virus. Worldwide, the World Health Organization reported Feb. 24 about 80,000 confirmed cases of the virus with more than 2,600 deaths. Almost all of the deaths thus far have occurred in China.

David Spika

Spika noted that GuideStone’s managers have taken some gains in the mutual funds following these powerful market advances, which is prudent to do given the age of the cycle.

“Retirement plan investors, especially, need to stay focused on their long-term plan and asset allocation for their retirement needs,” Spika said. “Market fluctuations always occur, but a long-term focus and a diversified investment approach have historically been rewarded by the markets.”

Retirement plan investors concerned by the market’s moves should look at their portfolios and ensure they are not overweight in certain categories and underweight in others, which could exacerbate the effects of a market decline.

GuideStone participants can receive help with their long-term investment allocations by accessing the resources on the Retirement Planning and Guidance page, which include GuideStone’s Investment Recommendation tool.

“We never encourage anyone to try to time the market,” GuideStone President O.S. Hawkins said. “If you are prompted to make allocation changes, only do so after considering your diversification, time horizon and risk tolerance. Once those are reviewed, then you can consider making strategic, focused changes, if needed. It’s important, though, that changes be driven by a careful consideration of the facts and not the emotions of the moment.”

Basic principles for retirement planning

GuideStone experts recommend four basic principles for retirement plan investors:

  • Always focus on long-term objectives, not emotions. Specifically regarding retirement participants, these assets are to serve needs for a long period of time. Make sure objectives and actions are consistent with the time horizon.
  • Avoid making impulsive decisions. Making changes based on short-term market moves is almost a guarantee for failure, as it promotes buying high and selling low. The performance of an account moving forward will be determined based on results of the financial markets in the future, not the past. Investors cannot sell yesterday’s losses or buy yesterday’s gains.
  • Don’t count losses—or gains. Consistent contributions to a retirement plan afford investors a systematic way of taking advantage of investment opportunities as markets ebb and flow.
  • Maintain realistic expectations about market behavior. Financial markets in the short term tend to fluctuate in response to social, political and economic events. However, historically, the markets stabilize and return to profitability over the long term, focusing on the underlying fundamentals.