Week ending October 20th, 2017

NOTE FROM THE EDITOR

Happy Friday, readers! The theme of this week’s newsletter is client service. If you are not already aware, we are hosting half-day versions of the 2017 PLANSPONSOR National Conference over the next three weeks in various cities. The event is sure to offer information to help you serve your plan sponsor clients better. We learned through live polling at the 2017 PLANADVISER National Conference that 61% of advisers are “winging it” when it comes to offering financial wellness programs. The session about financial wellness pointed out that there is no single defined path for offering financial wellness—but explored the various options available to advisers. The session at the conference about adviser tools and support uncovered a host of applications that several advisers described as “game changers.” Two winners of the 2017 Plan Sponsor of the Year awards program spoke on the “Plan Sponsor Confidential” panel, noting how their advisers gave them the “courage” to adapt progressive automatic features. Vanguard says that in order to gain clients’ trust, advisers need to emphasize that they are acting in their best interests and let them know that they are valued and respected. Enjoy this edition of PLANADVISER Weekend.

Editor's choice

Events & Webcasts

Best of PLANSPONSOR National Conference

At PLANADVISER, we know how valuable your time is. That’s why we’ve taken the most important topics discussed at the recent 2017 PLANSPONSOR National Conference and packaged them into a convenient ½-day agenda hosted in a city close to you! If you are a retirement plan adviser, there is no better way to stay up to date on the latest challenges facing your clients. Choose to attend in Chicago—Oct. 24, Boston—Oct. 25, New York—Oct. 26, Newport Beach—Nov. 1, or Dallas—Nov. 2! Register here: Read more >

Client Service

PANC 2017: Financial Wellness

There seems to be no consensus on a definition of the trendy term, but plan advisers can create their own business model for offering a ‘financial wellness’ program. Read more >

PANC 2017: Understanding Adviser Tools and Support

Panelists discussed a number of “game changing” applications, noting that new ones are constantly being introduced. Read more >

PANC 2017: Plan Sponsor Confidential

Two winners of 2017 Plan Sponsor of the Year awards reveal how their adviser helped move the dial on their plans. Read more >

Vanguard Emphasizes Trust in Client and Adviser Relationships

A study suggests best practices for advisers to gain an investor’s confidence. 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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