For Mike Kobbervig, helping people plan for retirement isn’t just a profession—it’s a passion rooted in purpose, personal connection, and a good dose of Midwestern practicality. As the Senior Vice President and Retirement Plan Services Division Manager at Bell Bank, Mike brings nearly three decades of experience, an innovative approach to financial education, and a heart for supporting community banks and their people.
From the Flood to the Footprint
Mike’s journey into the world of finance started with a flood—literally. As a senior at the University of North Dakota in 1997, the infamous Red River flood forced a sudden end to his college experience. “They canceled finals and said, ‘Your grade is what it is.’ I had to think, is that good for me? I think it is,” he laughed. That serendipitous moment set the stage for a career he never anticipated.
After a chance encounter with a friend at a local bank, Mike found himself working behind the scenes in retirement plan operations. Though he once considered being a financial advisor, he quickly realized that educating and empowering groups of people about their financial futures suited him better. “It was the best decision I ever made,” he said. “It laid the foundation for everything I’ve done since.”
Today, Mike’s role at Bell Bank centers around growing the retirement plan division’s footprint across North Dakota, South Dakota, and Minnesota. While he leads the division, his heart remains in the field—meeting with businesses, presenting to plan participants, and helping people connect the dots between today’s choices and tomorrow’s security.
Retirement Planning Made Personal
One of the most defining aspects of Mike’s work is the way he and his team approach financial education. “We believe in wrapping complex retirement concepts around something relatable,” he explained. From using marshmallows to teach about delayed gratification, to giving away tape measures to talk about how retirement plans “measure up,” Mike uses everyday metaphors to bring abstract ideas down to earth.
Their current campaign, The Retirement Toolbox, encourages participants to think of their financial decisions like DIY home projects—sometimes you can do it yourself, sometimes it’s best to call in a pro. This innovative, people-first approach helps demystify retirement planning and empowers individuals to take confident action.
And that confidence is key. “Most people don’t understand how to translate their retirement balance into a sustainable income stream. Helping them understand that—and seeing the light bulb go on—is the most fulfilling part of what I do,” Mike said.
A Partner Community Banks Can Count On
For independent community banks in South Dakota, Bell Bank’s retirement services offer more than a benefit—they offer a bridge to deeper client relationships. Through Bell’s correspondent banking network, Mike is frequently pulled into conversations with employers looking for accessible, high-quality retirement solutions.
“Community banks often think, ‘We don’t offer that, so we can’t add value.’ But that’s not true,” Mike explained. “They can absolutely bring in trusted partners like Bell to enhance relationships, build credibility, and retain client trust.”
What makes Bell Bank a strong fit for community banks? According to Mike, it’s the depth of service and style of communication. “We’re not a national provider, but we have over $2.5 billion in assets under administration. We’re big enough to matter but small enough to care—and our team knows how to tailor communication whether we’re talking to seasoned investors or folks just starting out.”
Mike is also passionate about helping employers benchmark their plans regularly. “You’d be surprised how many retirement plans were set up years ago and never reviewed. Pricing, investment performance, share classes—it all needs a fresh look every few years to make sure participants are getting the best value.”
A Life Built on Relationships
Outside of work, Mike is just as intentional and relationship-driven as he is in the office. A self-proclaimed “sports junkie,” he’s poured his energy into coaching youth teams, training young athletes, and even building a half-court gym and a grass tennis court in his backyard—complete with a golf simulator and putting green.
“The space operates as Master Sports Academy, where my kids and I coach various local youth programs,” said Mike.
He went on to explain, “Our town doesn’t have a community center, so the gym is used by a lot of people. We created a separate public entrance, and members can access it by entering their code and reserving a time.”
His passion for coaching and teaching mirrors his professional ethos. “Life is all about relationships,” Mike said. “That’s true whether I’m coaching kids, working with retirement plan participants, or partnering with community bankers. I want to create value and help people win—on and off the court.”