PLANADVISER Weekend Newsdash
Week ending April 6th, 2018

Happy Friday, readers! This weekend’s mailing focuses on the topic of Practice Management, and it begins with a question: Have you ever caught a Department of Labor fiduciary best practices seminar? At the last PLANADVISER National Conference, one adviser speaker urged attendees to take a day away from the office (or the road) and attend the “Getting It Right – Know Your Fiduciary Responsibilities” seminar. He highlighted that DOL speakers lay out in clear terms what their enforcement colleagues look for in records reviews and formal audits—and their priorities don’t always match up with what advisers and sponsors expect. For example, “process is much more important than outcomes.” Find more information below about the next DOL seminar, along with other helpful articles and research on the subject of Practice Management. 

Editor's choice
Rhode Island the Next Stop for DOL Fiduciary Seminar
The “Getting It Right – Know Your Fiduciary Responsibilities” seminar will be held in Providence, Rhode Island, on June 28. Read more >
Register Now for the 2018 PLANADVISER National Conference
Annually, the top tier of retirement plan advisers from across the U.S., including the PLANADVISER Top 100 and the PLANSPONSOR Retirement Plan Advisers of the Year, gather in Orlando, Florida, for three days of discussion and debate; reserve your spot today for the 2018 event.  Read more >
DOL Fiduciary Rule Ambiguity Mustn’t Derail Quality Client Service
With so much uncertainty now overhanging the future of the DOL fiduciary rule expansion, the onus is squarely on advisers, broker/dealers and recordkeepers to decide how they will respond; we hear from one small advisory firm in Northern Ohio that will carry on with business as usual. Read more >
Organizations Team Up to Encourage Adviser Gender Diversity
One main goal is to motivate more women to become financial advisers through business network referrals. Read more >
Most Advisers Marketing on Social Media Say They Have Won New Clients
Financial advisers almost universally report the use of social media has changed how they communicate with and win new clients; however, they disagree to some extent about the real impact social media use has on the quality of client relationships, and by extension, business performance.  Read more >
Community Engagement and Next Gen Adviser Recruiting
Working Texas Tech University, Advisor Group has published a new survey examining how young professionals entering the advisory filed think about their current work and future career prospects; researchers also highlight the importance of community engagement for elevating the advisory profession.  Read more >
Inside View of Sales Strategy and Competition at America’s Best 401K
Josh Robbins, lead strategy officer for the direct-to-sponsor plan provider America’s Best 401K, offers a closer look at the virtues and potential weaknesses of the firm’s “disruptor” model and short sales cycle. Read more >
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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.  

Well-Funded HSAs Are a Retirement 'Superpower'

Having an HSA going into retirement is ‘incredibly powerful,’ experts say, because money is being saved and spent as efficiently as possible.

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