PLANADVISER Weekend Newsdash
Week ending May 4th, 2018

Happy Friday, readers! Looking in from the outside, one of the great ironies of the retirement specialist financial adviser business is how so many otherwise skilled and consciousness advisers fail to plan for their own retirement and eventual transition away from the business. As the articles and research reports listed below indicate, large numbers of advisers will be retiring in the next decade, yet the breadth and depth of succession planning lags far behind what will be necessary for smooth and orderly practice ownership transitions. And it’s not just a concern for advisers—clients have high expectations for how they will be treated if and when their adviser retires, putting the onus on retirement advice professionals to improve their own plans for retirement.

Practice Management
A Mere 27% of Advisers Have a Formal Succession Plan
When it comes to valuing and transitioning their business, 61% of advisers have a goal for the value, and 48% used a recurring revenue multiple to calculate that goal. 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 >
Succession Planning Essential for Long-Term Advisory Growth
Data shows many small business owners continue to work later in life, making them ripe targets for retirement advice and deep support with succession planning and wealth transitions.  Read more >
Home Offices Must Get More Active In Staff Succession Plans
Troubling, many of the companies that say they have formal succession planning programs in place in truth dedicate very few hard-dollar resources, if any, to help. Read more >
Planning for an Unexpected Ownership Transition
It’s an important question for advisory firm owners to ask, says Independent Financial Partners CEO William Hamm, Jr.: What happens to my clients if I have to quit working unexpectedly? Read more >
The Importance of Succession Planning
Research shows fewer than one-third of adviser firms have defined a formal plan in the case of an unexpected death or disability. Read more >
Peers Play a Big Role in Adviser Relocations, Independence Decisions
Almost half of advisers who left their firm moved along with a larger team in 2017, versus 34% in 2012, according to data shared by Fidelity Clearing and Custody Solutions; advisers moving to an independent broker/dealer more often depart as a team versus other movers. Read more >
MOST POPULAR STORIES
TOP 100 Retirement Plan Advisers
Noteworthy retirement plan specialists, based on number of plans and total assets under advisement.
What Is a DOL Adviser Investigation Like?
The number of Department of Labor investigations of financial advisers has steadily increased over the years; here is a primer on the DOL’s sources of authority, and what to expect when examiners come knocking.
Managed Account QDIA Mechanics Challenge Plan Sponsor Clients
ERISA attorneys and plan design consultants say they are hearing more questions from sponsors about using managed accounts as a plan’s default investment, but the most common use case remains opt-in managed accounts.
Assessing Likely Impacts of IRS Hardship Withdrawal Rule Changes
New rules established by Congress and the IRS simplify the process for participants to request a hardship withdrawal of DC plan assets; some experts say this could increase “leakage,” while others anticipate more positive effects, such as lower debt among cash-strapped participants.
Court Returns Mixed Ruling in Schwab ERISA Self-Dealing Suit

The detailed ruling comes after Schwab defendants moved to dismiss in part the plaintiff’s second amended complaint. 

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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