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| Cover Story: Smart Design |
| Striking the right balance between client service and profitability is more of an art form than a science, but it is an important exercise for every retirement plan advisory practice to utilize. Blue Prairie Group LLC took a deep look into this issue last year, tracking how many hours the team spent working on each client’s plan, who did what, as well as rating the difficulty of working with each client.
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| The SEC on Rollovers |
| The SEC says that an RIA is a fiduciary with duties of loyalty and care. That applies to all advice, including recommendations to take money out of a plan and roll it into an IRA with the adviser. To satisfy the duty of loyalty, the RIA must disclose conflicts of interest, including conflicts resulting from rollover recommendations. To satisfy the duty of care, the RIA should have policies and procedures for rollover recommendations that support the collection and evaluation of relevant information about the plan and proposed IRA and the assessment of whether the rollover aligns with the client’s profile.
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| Compliance News |
| The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019.
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| Retirement Income Options |
| From his seat on the Institutional Retirement Income Council (IRIC), John Pickett sees what he calls “the next frontier of the DC [defined contribution] business”: systematic distribution for participants from the retirement plan. And, as with automatic plan design, advisers are in a key position to urge plan sponsors to embrace it.
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| R-6 Share Classes Hit $1.5T |
| The zero/zero class has grown 15% since last year.
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| Addressing Participant Concerns |
| If a sponsor does not respond, it could risk a civil and/or DOL lawsuit.
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| Weathering Audits |
| The DOL has extended the scope of its examinations. What should plan advisers know about these audits, and how can they help a client that needs to undergo one?
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