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
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.
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.
Many Near-Retirees Don't Understand Social Security Benefits

More than one-third failed a basic Social Security quiz administered by MassMutual.

The Most Common Retirement Plan Testing Mistakes

By alerting plan sponsors to the issues they see most often, advisers can help their clients navigate IRS testing rules.

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