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.
According to FPA, financial planners who engage in “know your client” behaviors gain deeper personal fulfillment from many more of their client relationships.
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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.”
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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.
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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.
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The purpose of any such updates would be to increase the effectiveness of tax-favored retirement programs by allowing retirees to retain sufficient retirement savings in these programs for their later years, the IRS says.
It’s not just the financial services industry pushing for passage of the Setting Every Community Up for Retirement Enhancement Act; chambers of commerce, consumer advocacy groups and major U.S. corporations are also voicing support.
Plaintiffs challenge the use of proprietary products in Prudential’s defined contribution retirement plans, an arrangement they say impermissibly benefitted the company at the expense of plan performance.
“Our goal is to provide wealth managers with a secure, data-rich and customizable experience designed to drive client satisfaction and optimize efficiency,” says RedBlack Chief Product Officer and Co-Founder Roel Vlemmings.
