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

Congress Says It Will Fix at Least 4 Errors in SECURE 2.0

The errors include the startup credit, RMD, SIMPLE IRA plans and Roth catch-ups.

SS&C Adds Allianz Retirement Income Annuity to DC Plan Platform

Volatile markets amid high interest rates have driven asset growth on SS&C’s retirement income platform to more than $1 billion.

As States Add Retirement Programs, Private Providers See Growth

This month, Minnesota and Missouri brought the count of state-facilitated retirement plans to 18. Small business providers say state engagement helps boost business despite state-provided auto-IRAs.

Franklin Templeton to Acquire Putnam for $925 Million

The deal would boost Franklin’s defined contribution asset management to $90 billion in AUM, while Great-West, parent of Empower, will gain a stake in Franklin.

ChatGPT Sentiment Analysis Significantly Outperforms Stock Market Average

University of Florida researchers found that using ChatGPT to analyze stocks outperformed the market average.

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