Week ending October 7th, 2016

NOTE FROM THE EDITOR

Happy Friday, PLANADVISER readers. Today’s announcement that Merrill Lynch is underscores the tremendous pressures bearing down on advisory and brokerage businesses, stemming from deep regulatory change and a shift in client expectations. Collected below you will find articles and analysis identifying the top challenges and opportunities advisers face.

Editor's choice

Good Luck Beating Technology Providers at Their Own Game

Enterprise-level adviser technology providers are just fine with winning new business behind the scenes; two industry executives explain why “traditional advisory firms” should embrace them. Read more >

Asset Manager Distribution Strategies Shift With the Times

Internal investment product wholesalers are pursuing advanced degrees and designations to improve their image as “knowledge partners” in the eyes of advisers, according to new Cerulli Associates research. Read more >

DOL Conflict of Interest Rule Could Force Staff Changes

More than half of broker/dealers surveyed by the LIMRA Secure Retirement Institute believe some of their advisers will retire rather than sell under the new. Read more >

J.D. Power Sees Advisers ‘In the Eye of the Storm’

A confluence of generational, technological and consumer preference trends is driving a sea change in the traditional investment advisory business, according to J.D. Power researchers. Read more >

Learning from Advisers with Fast-Growing Practices

Advisers polled said their top three concerns are, first, a lack of focus on driving firm value, followed by the inability to grow client AUM/revenue and the inability to change client demographics. 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.

Many Near-Retirees Don't Understand Social Security Benefits

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

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