PLANADVISER Weekend Newsdash
Week ending September 7th, 2018

Happy Friday, readers! Featured in this weekend’s newsletter is our ongoing series of “DISRUPTION” articles, which recount exclusive and in-depth interviews with executives from across the retirement planning industry. We encourage you to explore the whole series to learn about the most pressing trends reshaping the ways advisers and their service provider partners do business—how they are plotting growth and maximizing client satisfaction amid a shifting regulatory and competitive landscape.

Editor's choice
Talking Adviser Recruiting with LPL Leadership
As retirement specialist advisers shift away from commissioned service and towards relationship-based wealth management and plan design consulting, providers of brokerage and investment management services are making their own changes to attract and retain skilled advice professionals—while protecting their own bottom line. Read more >
AssetMark Executive on Outsourcing and Practice Growth
Matt Matrisian, SVP of strategic initiatives at AssetMark, is passionate about the topic of advisory practice management, enough so that he wrote a 300 page book on the subject; chatting off-the-cuff with PLANADVISER, he argues outsourcing is the way of the future. Read more >
Insider Service and Strategy Talk With PGIM
In an exclusive interview with PLANADVISER, PGIM Head of Institutional Defined Contribution Josh Cohen offers some guidance to advisers speaking with plan sponsors about litigation, fiduciary risk and progressive plan design. Read more >
3(38) Market Leader CAPTRUST Talks Growth Trends
“If the whole DC plan advisory industry could have a do-over from say, 20 years ago, I think there would probably be much more of an emphasis from a lot of different firms on the 3(38) arrangement,” says CAPTRUST CEO Fielding Miller; in an exclusive interview, he describes in detail the firm’s success building scale in the 3(38) fiduciary advice market. Read more >
Fee, Share Class Shifts at Schwab and Putnam Reflect Vigorous DCIO Competition
Recent interviews with product development executives at Putnam and Charles Schwab show the aggressive steps brand name providers are taking to keep their edge in a highly competitive and unforgiving marketplace. Read more >
Decreasing Plan Sponsors’ Fear of Making Certain Plan Changes
Adding automatic deferral escalation and stretching the match are settlor functions because they are plan amendments, so plan sponsors should not fear fiduciary litigation, even if to some participants these changes seem to be not in their best interest. Read more >
MOST POPULAR STORIES
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.  

Retirement Industry People Moves

SageView adds Bloomfield Hills wealth practice; ExamFX acquires Training Consultants; BNY Mellon launches Pershing X; and more.

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