Week ending July 27th, 2019

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.

Client Service

2019 PLANADVISER Micro Plan Survey

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. Read more >

Strategies to Maximize Social Security and Medicare

When to start taking Social Security is one of the most important, and complicated, financial decisions a person can make. Read more >

Advisers Should Check Individual Investors’ Unfounded Optimism

Individual investors expect roughly twice the yearly returns forecast by their advisers and investment managers. Read more >

Learning the Medicare Alphabet Is a Must for Modern Advisers

Do you know the difference between Medicare Parts A and B? What About Parts C and D? Read more >

Newly Allowed 401(k)s Will Need Advisers

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. Read more >

Millennial Misconceptions: Younger Workers Prioritize Retirement

Millennials may make different life choices than previous generations, but they are also more engaged at an earlier age with retirement savings in the workplace. Read more >

MOST POPULAR STORIES

Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Coronavirus Hardship Withdrawals, Taxes and Your Retirement Plan Clients

Coronavirus-related withdrawals made in 2020 were a financial lifeline for some, but they could also turn into a major tax headache for others.

Once They Catch On, PEPs Could Grow Exponentially

The current hesitancy over how they will take shape will be overcome by appreciation among advisers and sponsors alike at the prospect of expanding retirement coverage, sources say.

Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals

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.

Lawsuit Challenges Fees in Kimberly-Clark's 401(k) Plan

The plaintiffs allege plan fiduciaries used what it calls ‘cobbled-together services from many providers’ and didn't monitor fees for any of them.

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