PLANSPONSOR Weekend Newsdash
Week ending March 2nd, 2018

Happy Friday, readers! In this weekend’s mailing, we present a series of exclusive interviews conducted with a highly connected panel of retirement plan industry movers and shakers. The experts offer both broad and granular insights into their respective firms’ ongoing sales and growth strategies. We hear from well-established providers and emerging industry disruptors alike, and taken together the articles offer some important insights about ongoing change in the defined contribution retirement plan industry. We hope you share some of what you learn with a client or colleague.

Practice Management
DISRUPTION: 3(38) Market Leader CAPTRUST Talks Growth Trends
“If the whole DC plan advisory industry could have a do-over from say, 20 years ago, I think there would probably be much more of an emphasis from a lot of different firms on the 3(38) arrangement,” says CAPTRUST CEO Fielding Miller; in an exclusive interview, he describes in detail the firm’s success building scale in the 3(38) fiduciary advice market. Read more >
DISRUPTION: Driving Down Plan Costs a Clear Focus for FixedFee401k
Our series of exclusive articles featuring retirement industry “disruptors” continues with another growing provider in the small- and mid-market, promising 50% lower costs than the traditional competition through the exclusive use of fixed fees. Read more >
Fee, Share Class Shifts at Schwab and Putnam Reflect Vigorous DCIO Competition
Recent interviews with product development executives at Putnam and Charles Schwab show the aggressive steps brand name providers are taking to keep their edge in a highly competitive and unforgiving marketplace. Read more >
Fee and Industry Shifts Mean Retirement Plan Providers Can Play Hardball
A look back at how Fidelity will charge new plan sponsor clients on its platform who choose Vanguard products makes visible the hard-nosed competition that defines the retirement plan recordkeeping and brokerage industries. Read more >
The Duty of Loyalty
ERISA demands it; the Wagner Law Group explains how courts have interpreted it. 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.

Three Quarters of Americans Have Not Planned for LTC Needs

Yet nearly six in 10 say saving for long-term care is a financial priority

Wells Fargo Advisors SEC Filing Hints at Federal Fiduciary Investigation

The firm says it does not have additional information to share at this juncture beyond what has been noted in a 2017 year-end SEC filing; in that newly emerged document, Wells Fargo Advisors says it has begun an internal investigation into “whether there have been inappropriate referrals or recommendations” made by its advisors, including with respect to rollovers for 401(k) plan participants.

Confusion Abounds After Fifth Circuit Decision Vacates DOL Fiduciary Rule

The latest decision out of the Fifth U.S. Circuit Court of Appeals throws a dramatic new element of confusion into the epic regulatory saga that has been the rollout of the Department of Labor fiduciary rule.

Advisers Moving to a Client-Centric Model

Advisers are using new planning models and smarter technology, including automation, so that they can offer personalized service, SEI finds.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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