Happy Friday, readers. Over the past few weeks a clear theme has emerged among the many research reports and studies shared with PLANADVISER. It seems that financial services firms of all descriptions—banks, brokerages, recordkeepers—are focused on new ways to build client trust and measure the quality of the client experience. Collected below are some highlights that should offer helpful perspective for any DC advisory practices engaged in this critical effort.
Retail banks, active investment managers, defined contribution plan advisers, recordkeepers—they’re all focused on building client trust as a crucial element of future sales success.
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Trustworthiness is a must-have ingredient for brand consideration in the defined contribution industry, according to a new analysis from Cogent Reports.
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A new study finds that just 11% of Millennial retirement plan participants feel comfortable managing their investments themselves—yet many in the generation hesitate to pursue advice.
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New data suggests that financial advisers focused more on client management than on investment management see much stronger asset growth and retention.
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The Pension Analytics Group says the act would only temporarily mask the deficits, as opposed to reducing them and that the only solution is to reduce benefits across the board.
When the SEC adopted the new Rule 30e-3 earlier this year, creating a new system for electronic delivery of fund information, it also established a transition disclosure period that starts in January, during which "funds that choose to implement the new delivery method for shareholder reports provide prominent disclosures in prospectuses and certain other shareholder documents that will notify investors of the upcoming change in transmission format.”
