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

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.

Gen X Facing the Stark Reality of Retirement

More than any other generation, its members are receptive to in-plan guarantees.

IRS Announces Contribution and Benefit Limits for 2021

The limit on contributions by employees who participate in 401(k)s, 403(b)s and most 457 plans remains unchanged at $19,500.

A New World and New Opportunities for Alpha

Pandemic-driven volatility has once again highlighted the relative virtues of active and passive management.

Part Art, Part Science: Managed Account Due Diligence

A managed account program’s fees can be cut in half if it’s selected as a retirement plan’s default investment, although cost is just one of many important due diligence factors.

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