PLANADVISER Weekend Newsdash
Week ending February 23rd, 2018

Happy Friday, readers! This weekend’s mailing offers a deep dive into the evolving health savings account (HSA) marketplace, with a particular focus on identifying adviser opportunities in the space. As the data show, growing contributions and a strong equity market helped propel HSA investment assets up 53% year over year during 2017—and employees increasingly want advice on how to invest and eventually spend HSA dollars. Even if it is not the most lucrative business line to get into on its own, offering education about HSAs and health care costs in general, experts agree, can be a tremendous value-add that boosts client loyalty and lifetime wealth outcomes.

Health Care and Other Benefits
Adviser Opportunities Abound in HSA Market
Devenir finds HSA assets grew to an estimated $45.2 billion, spread across some 22 million accounts, at the end of 2017; as more account owners are investing their HSA dollars, the demand for advice is clear.  Read more >
Concerns About Retirement Health Care Costs Increasing Interest in HSAs
ConnectYourCare’s 2018 report on consumer-driven health care account trends finds 44.9% of respondents chose to enroll in a health savings account as a savings vehicle for future health care needs, over more immediate benefits like tax savings and lower premiums, up from 40.5% in its 2017 report. Read more >
Help DB Clients Stay Realistic About Mortality Assumptions
“It is important for actuaries for all types of pension plans, including those who work with multiemployer and public-sector plans, not to reverse expectations for mortality improvement in response to the latest data,” says Eli Greenblum, chief actuary for The Segal Group. Read more >
Advisers Beware and Be Cautious When Talking Taxes in 2018
During a webinar called to discuss the advisory industry impacts of the Tax Cuts and Jobs Act, experts warned advisers to be ready to decline to offer tax advice during 2018—over and over again. Read more >
With Participation Rates Flat, Some NQDC Plan Sponsors to Make Changes
The overall rate of companies offering nonqualified deferred compensation plans increased to 85% in 2017 from a survey low of 77.2% in 2015, according to the annual Prudential/PLANSPONSOR Executive Benefit Survey. Read more >
MOST POPULAR STORIES
Plaintiffs Claim Deloitte Breached ERISA Prudence Duties

Arguments in the new case closely resemble previous lawsuits filed against other firms citing the ERISA fiduciary duties of prudence and of monitoring fiduciaries.

Only 31% of Hispanic Workers Participate in a Workplace Retirement Plan

Morningstar says there are several factors besides lower income that could contribute to the lower savings relative to other demographic groups.

TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges

A new lawsuit suggests the individual advisory program TIAA clients were rolled into was significantly more expensive and generated hundreds of millions of dollars in fees for TIAA—without providing commensurate performance benefits.

A Year of Disruption Spotlights Tech, Cybersecurity

Advisers are increasingly focused on Social Security marketing, technology that can deliver investment personalization, and cybersecurity.  

Retirement Industry People Moves

SageView adds Bloomfield Hills wealth practice; ExamFX acquires Training Consultants; BNY Mellon launches Pershing X; and more.

rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2021 Asset International, Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850