Twenty-nine percent say they are likely to switch retirement plan providers within the next year.
They are also harnessing the competitive edge of AI.
The median firm increased its client base by 4.8% last year, up from 3.6% the year before.
Bill Beardsley, head of Retirement Partners at LPL, gives his take on the firm’s decision to close the Worksite Financial Solutions program, and on his plans for lasting growth in the DC retirement space.
Plan sponsors have a duty to alert and inform participants of any data changes, and ensure they are receiving the right education on it.
Panelists discussed recent trends in fees and how providers can keep plan sponsors and participants up to date.
Participant advice has highly progressed in the latest years, with the introduction of mobile technology and advanced systems, but how will it change under the new fiduciary rule vacate?
The panel focused on current asset allocation trends, and then shifted to what plan sponsors and participants need to know about these investment products.
Plan sponsors are responsible for recruiting those who will be dedicated to continuous learning on ERISA, fiduciary duties, and more.
A new survey of advisers published by Schwab Independent Branch Services suggests client-facing staffers are “brimming with entrepreneurial drive,” and as a result they are increasingly drawn to independence.
Two experts discuss the most noteworthy issues in today’s retirement planning space.
Speaking to attendees of the 2018 DataDisrupt conference in New York, Morningstar’s first chief data officer reflected on the recent creation of his role and what it says about the future of financial services.
“Personal data can tell you so much more beyond just providing insights into individual client behaviors. You can take these streams of data, clean them up and extract valuable insights that look across the book of business to highlight trends and challenges that are not really visible on a case-by-case basis.”
They plan on using it to better understand clients’ needs.
Firms have made strides in the previous decade in terms of adopting self-service, web-based solutions—but the existing “fixed decision tree” approach is not sufficient for the next evolution in client service.
Independent advisory shop founder Joe Gordon talks about winning new plan business from brokers and bank advisers who are “seriously fumbling the discussion with clients about fees and fiduciary change.”
Expert attorneys warn the new non-enforcement policy binds only the DOL and IRS; state regulators and private plaintiffs could potentially seek to bring an action for alleged non-compliance with impartial conduct standards.
This will mean shifting their current focus from Baby Boomers, TD Ameritrade learned in a survey.
Following up on a broad discussion of market volatility, John Diehl, SVP of strategic markets for Hartford Funds, encourages advisers to consider new means to separate their service offerings from the competition; he also offers a sneak peek at some forthcoming research produced in partnership with the MIT AgeLab.
When it comes to valuing and transitioning their business, 61% of advisers have a goal for the value, and 48% used a recurring revenue multiple to calculate that goal.