Happy Friday, readers! There are a lot of elements to ensuring success in the financial advisory profession, but at the core is quality client service. You can have the best growth rate in the industry and the most effective sales staffers out there, but if you aren’t retaining existing clients, it will all be for naught. Collected below is a series of articles on the topic of ensuring quality client service. We hope you will share some of what you read with a client or colleague.
A look at the many services that retirement plan advisers provide to micro plans, i.e. those with less than $5 million in assets, particularly review of fund performance and plan investment selection guidance.
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Advisers may shy away from helping hemp and CBD companies with their 401(k)s because they may find themselves crossing into advising for a cannabis company as well, but there are protections—and money to be made.
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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.
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.