PLANADVISER Weekend Newsdash
Week ending March 17th, 2017
NOTE FROM THE EDITOR
Happy Friday, readers! This week the DOL fiduciary rule and 401(k) industry-focused litigation again grabbed headlines—but readers also responded with interest to our story, “Few Millennials Making Recommended 401(k) Contribution.” Research reported on in the article offers equal cause for concern and optimism about Millennials’ collective financial future. Collected below you will find a series of additional articles exploring the role of Millennials as consumers and providers of financial advice. 
Editor's choice
Millennials’ Most Valuable Asset: Time
According to data from John Hancock Retirement Plan Services and Allianz Life, many Millennials have already fallen behind recommended retirement savings targets—but they also have time to recover and set the right approach. Read more >
Millennials Essential
Many studies have shown that two-thirds of retirement advisory practices have no succession plan. This widespread failure among retirement plan practices to consider the future can be particularly troubling, as “the average age of all advisers today is 51, 21% are over the age of 60, and 50% are within 15 years of retiring,” says Richard Saperstein, managing director and chief investment officer at HighTower Treasury Partners in New York City. Read more >
Millennials Favor ESG Amid Unfavorable Political Climate
While little concrete policy has yet been crafted, it is commonly assumed that the Trump administration will have little enthusiasm for promoting environmental, social and governance investing. Read more >
Millennials Fret Their Student Debt Load
More than half of all young workers worry about repaying their student debt “either all the time or often,” according to a new survey by American Student Assistance. Read more >
Millennials Overconfident in Their Financial Knowledge
Less than a quarter know the basics about finances. Read more >
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Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

HUB Names New Leader for Retirement and Private Wealth

PLANADVISER has learned that HUB International has named Joe DeNoyior as the new leader for Retirement and Private Wealth.

Democrats Have Won the Power to Fix Union Pensions
A bipartisan compromise solution to end the multiemployer pension crisis is urgently required, sources agree, and one could finally be forthcoming in the U.S. Congress.
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
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