Data & Research July 9, 2014

Advisers Predict a Red Senate, Strong Growth

Two-thirds of independent financial advisers believe Republicans will gain control of the U.S. Senate in November, according to a new Financial Services Institute (FSI) poll.
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Poll results show 66% of independent financial advisers think the Senate will go red (i.e., Republican) after the November elections. A smaller group of advisers, about 43%, predicts equities will have a strong show during the rest of 2014, according to FSI.

The poll shows opposition to the Department of Labor’s pending fiduciary redefinition proposal, now set for release in early 2015, continues to hold strong at 90% (see “Hidden Opportunity in New Fiduciary Rule?”). The results also show that 41% of financial advisers responded that they have a succession plan finalized and in place to pass along their practice once they retire. And only 15% of independent advisers said they plan to retire or sell their practice in the next five years.

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“Independent financial advisers have their finger on the pulse of politics and policy as Washington and state capitals play an ever-increasing role in their business,” explains Dale Brown, FSI president and CEO. “Financial adviser opposition to the Department of Labor’s fiduciary definition proposal has held strong over the past year. We see no sign of complacency creeping in as the rule is postponed yet again.”

Other results from the survey show the following:

  • Advisers are general optimistic or neutral on their outlook for equity returns for the rest of 2014, with 43% predicting strong performance, 49% anticipating neutral performance, and 8% forecasting a weaker growth.
  • When asked if they plan to buy or acquire another practice or book of business in the next five years, a strong majority of independent advisers (71%) said no.
  • Even more advisers (76%) said they have no plans to buy or acquire another practice or book of business over the next six to 10 years.
  • More advisers plan to retire in the next six to 10 years (29%) compared with those planning to retire in the next five years.

The poll, “Financial Advisors Weigh in on Midterm Elections, Industry Issues,” was conducted in-house by FSI. About 2,300 of FSI’s affiliated financial advisers completed the poll between June 9 and June 13.

Deals & People July 9, 2014

Transamerica Names Regional Plan Sales Leader

Transamerica Retirement Solutions has named Bill Feldmaier as division vice president for the company’s central region retirement plan sales.
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Feldmaier will lead Transamerica’s team of central regional vice presidents for all retirement plan sales activities in the small-plan market. He will report to Jason Crane, executive vice president and managing director of retirement plan sales.

“Bill is a valued team player who will support our sales force in offering expert guidance to financial professionals and retirement plan sponsors,” says Crane, who is based in Harrison, New York. “We are delighted to have a proven sales leader of his caliber join the Transamerica team. We are confident that his experience, leadership and ability to establish successful business partnerships will help Transamerica to increase retirement readiness for more U.S. employees.”

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Feldmaier has 14 years in the retirement services industry, and has worked both as a successful wholesaler and in national sales leadership roles. Most recently, he served as national sales director of intermediary sales for CUNA Mutual Retirement Solutions.

Feldmaier will replace Dan Long, who will now serve as regional vice president for Midwest institutional retirement plan sales, reporting to Michael Wannell, division vice president for institutional markets in the western region.

Transamerica Retirement Solutions is a provider of customized retirement plan solutions for small to large organizations. More information about the firm is available at http://www.trsretire.com.

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