PLANADVISER Weekend Newsdash
Week ending March 29th, 2019

Happy Friday, readers! Recognizing the close of the first quarter of 2019, this weekend’s newsletter is focused on the topic of practice growth and prospecting. Is your firm hitting its growth targets so far for the year? If not, the articles collected below may offer some food for thought, as they analyze the main pressures that continue to shape the market for financial advice. These are the need to preserve the quality of advice being delivered at scale, client demand for digital solutions, regulatory changes, fee compression and the increasing longevity of investors. We hope you will share some of what you read with a client or colleague.

Prospecting and Practice Growth
‘Decumulation Challenge’ May Drive Next-Gen Digital Advice
CFB Board sees decumulation as a likely driver of digital advice innovation, especially as an aging population creates a need for more efficient and effective services. Read more >
Advisers Can Benefit From Asset Manager M&A Trends
One key M&A trend identified in a new PwC report is the growing prevalence of large asset management and/or private equity entities making minority-stake investments in wealth management firms. Read more >
ESOPs Offer Additional Business Opportunity for Retirement Plan Advisers
Employee stock ownership plans deliver benefits to employers and employees. Advising ESOPs can bring new opportunities. Read more >
Advisers Find Outsourcing Key to Growing Practices
Technology, investment management, and legal and compliance are the top three areas where advisory practices often turn to outside experts, according to Fidelity.  Read more >
Advisers Can Help Start-Up Retirement Plans Evolve
PLANSPONSOR’s 2018 Defined Contribution Survey found many start-up plans have not yet adopted plan design best practices and many are unsure about fees, but fortunately, nearly two-thirds employ the services of a retirement plan adviser or institutional investment consultant. Read more >
Closer Client Relationships Drive Greater Growth and Satisfaction
According to FPA, financial planners who engage in “know your client” behaviors gain deeper personal fulfillment from many more of their client relationships. Read more >
MOST POPULAR STORIES
Three New ERISA Lawsuits Bash Actively Managed TDFs

Three new lawsuits question the offering of actively managed target-date funds to retirement plan participants.

$300 Million Plan Faces ERISA Fiduciary Breach Lawsuit

The plan being challenged in the latest fiduciary breach lawsuit held less than $300 million as of the start of last year, making it one of the smallest to become the target of an ERISA complaint.

Attorneys Offer Closer Reading of DOL’s Open MEP RFI

Advisers and broker/dealers hoping to work with open multiple employer plans now have a short window to offer their perspectives to the Department of Labor and the Internal Revenue Service.

Another Lawsuit Challenges Use of Untested CITs in 401(k) Plan

A similar lawsuit was filed in May against an investment manager and a different plan sponsor.

DOL Aims to Quickly Simplify Conflict of Interest Framework

The main theme of the new fiduciary rule proposal is alignment with other regulators—the SEC and FINRA in particular—but the agency is by no means surrendering its jurisdiction over tax-qualified retirement plans.

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