Data & Research April 4, 2016

Meet the 2016 PLANSPONSOR Retirement Plan Advisers of the Year

We’ll have more information on the 2016 PLANSPONSOR Retirement Plan Advisers of the Year in the upcoming print edition and online soon, but for now you can get a sneak-peak at our winners here. 
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Retirement Plan Adviser Mega Team of the Year

Alliance Benefit Group Financial Services, Corp.

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Alliance Benefit Group attests that its unique service approach has “dramatically improved” a number of sponsors’ plans, noting that since 2013, two of its clients have been winners and five have been finalists in the PLANSPONSOR Plan Sponsor of the Year awards program.

  • LOCATION: Albert Lea, Minnesota
  • PLAN ASSETS UNDER ADVISEMENT: $2.6 billion
  • MEDIAN PLAN SIZE (IN ASSETS): $16 million
  • TOTAL PLANS UNDER ADMINISTRATION: 150
  • TOTAL PARTICIPANTS IN PLANS SERVED: 50,000
  • SUPPORT STAFF: 17

 

 

Retirement Plan Adviser Large Team of the Year

Newport Capital Group

“By engaging with clients outside the realm of retirement plans, Newport Capital Group can realign the retirement strategy to best fit the specific needs of its clients,” the firm says. “Only by assessing the real aims of our clients can we craft a coordinated retirement strategy that best serves to incent, attract, reward, retain and eventually retire its work force.”

  • LOCATION: Red Bank, New Jersey
  • PLAN ASSETS UNDER ADVISEMENT: $8.5 billion
  • MEDIAN PLAN SIZE (IN ASSETS): $155 million
  • TOTAL PLANS UNDER ADMINISTRATION: 104
  • TOTAL PARTICIPANTS IN PLANS SERVED: 100,000-plus
  • SUPPORT STAFF: 15

 

 

Retirement Plan Adviser Small Team of the Year

The Catanella Institutional Consulting Team of UBS

Being proactive and providing customized and personalized solutions for clients is at the heart of the work of The Catanella Institutional Consulting Team of UBS. The practice’s team’s mission statement is “to provide our plan sponsor clients with a customized and service-driven model to deliver successful retirement outcomes for their participants, while effectively helping guide them through the ever-changing fiduciary landscape.”

  • LOCATION: Philadelphia, Pennsylvania
  • PLAN ASSETS UNDER ADVISEMENT: $2.3 billion
  • MEDIAN PLAN SIZE (IN ASSETS): $55 million
  • TOTAL PLANS UNDER ADMINISTRATION: 28
  • TOTAL PARTICIPANTS IN PLANS SERVED: 28,140
  • SUPPORT STAFF: 2

 

 

Retirement Plan Adviser Individual of the Year

Jania Stout, Fiduciary Plan Advisors

A 20-year veteran of the retirement planning industry, Stout started in the industry in recordkeeping and administration at ADP and Fidelity Investments. Wanting to have a greater role in engaging with and offering advice to plan sponsors, eight years ago, Stout became an adviser, and two years ago, she founded her practice in order to “truly help our plan sponsor clients.”

  • LOCATION: Phoenix, Maryland
  • PLAN ASSETS UNDER ADVISEMENT: $1.5 billion
  • MEDIAN PLAN SIZE (IN ASSETS): $40 million
  • TOTAL PLANS UNDER ADMINISTRATION: 30
  • TOTAL PARTICIPANTS IN PLANS SERVED: 25,000
  • SUPPORT STAFF: 4

 

The full list of 2016 PLANSPONSOR Retirement Plan Advisers of the Year finalists is here.

Data & Research April 4, 2016

Employers Combatting Financial Stress with Education Programs

Financial education programs are the most successful when tailored to the unique concerns of the workforce.
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Many employees are struggling with financial issues that affect their job performance, according to a recent report.

The International Foundation of Employee Benefit Plans found in a survey, “Financial Education for Today’s Workforce: 2016,” that workers are struggling with debt (66%), saving for retirement (60%), saving or paying for children’s education (51%), covering basic living expenses (48%) and paying for medical expenses (36%). Employers have also noted that the “sandwich generation” is struggling with supporting elderly parents and adult children.

Four out of five employers say their employees’ personal financial issues are somewhat, very or extremely impactful on their job performance. The top areas affected include an increase in stress (76%), the inability to focus at work (60%), and absenteeism and tardiness (34%).

“Nearly half of organizations rate their workforce as only a little bit or not at all financially savvy,” says Julie Stich, CEBS, director of research at the International Foundation. “Employers are also reporting more financial challenges among employees today than five years ago and are seeing these challenges reflected in the day-to-day operations of their workplace.”

To address the problem, nearly half of organizations (49%) offer benefits literacy education. In addition, 45% provide retirement security education, and 23% offer financial literacy education. These programs cover topics including investments, savings, insurance, budgeting, pre-retirement financial planning, retiree health care and more. Two-thirds of organizations offering financial education rate their programs as successful and teach financial principles through free personal consultation services, classes and online resources.

Twenty percent of organizations are currently assessing their participants to decide what topics are most needed, and 47% are considering it for the future. Fourteen percent of employers report having a financial education budget, and 22% are considering it.

“Workplace education programs are the most successful when an organization identifies the unique concerns of their workforce and tailors the message to fit that audience,” Stich says. “Employers should ask their participants what they want and consider what topics would be the best fit.”

The full report is available at www.ifebp.org/FinancialEd2016.

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