PLANADVISER Weekend Newsdash
Week ending March 22nd, 2019

Happy Friday, readers! There are many aspects of being a financial adviser, but at the core of it all is client service. Collected below is a series of recent articles exploring various challenges and opportunities facing retirement plan advisers as they seek to maintain client satisfaction while pursuing growth and operational excellence. We hope you will share some of what you read with a client or colleague.

Client Service
Closer Client Relationships Drive Greater Growth and Satisfaction
According to FPA, financial planners who engage in “know your client” behaviors gain deeper personal fulfillment from many more of their client relationships. Read more >
Skill in Fiduciary Discretion Discussions Brings Lots of Low-Hanging Fruit
Independent advisory shop founder Joe Gordon talks about winning new plan business from brokers and bank advisers who are “seriously fumbling the discussion with clients about fees and fiduciary change.” Read more >
Clear Ground Rules Essential With 3(38) Fiduciary Clients
Experts share strategies for helping advisers taking on 3(38) fiduciary clients understand how they can set up the right processes and procedures—up front—for dealing with client concerns and questions about the investment menu. Read more >
Client Service Q&A Part Two: Practice Differentiation and a Shifting Employment Landscape
Following up on a broad discussion of market volatility, John Diehl, SVP of strategic markets for Hartford Funds, encourages advisers to consider new means to separate their service offerings from the competition; he also offers a sneak peek at some forthcoming research produced in partnership with the MIT AgeLab.  Read more >
Half of Americans Believe All Advisers Must Act in Their Best Interest
Many do not know if their adviser is technically a broker/dealer or an adviser, Personal Capital learned in a survey. 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.

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.
Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

The Inside Take: CAPTRUST’s Cammack Acquisition

With the acquisition of Cammack’s $154 billion book of business, CAPTRUST now reports assets in excess of $600 billion; one leader at the firm says the growth is nowhere near finished.

SECURE Act and CARES Act Still Demand Client Diligence

As an example, if a plan sponsor has not yet started tracking part-time employees to see whether they accumulate 500 hours of service in 2021, they should begin doing so immediately.

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