PLANADVISER Weekend Newsdash
Week ending May 24th, 2019
Surveys show a majority of advisers believe they will continue to manage their clients’ money for multiple generations, even if they don’t know the heirs. Experts warn intergenerational advisory relationships are actually quite uncommon, however, in large part because advisers often make very little effort to build rapport with clients’ kids. As the articles collected below demonstrate, the most successful advisers use the topics of college savings, family caregiving and estate planning to deepen ties to their clients, leading to better retention and improved outcomes for all parties.   
Client Service
Intergenerational Advice Is Far From a Given
Surveys show a majority of advisers believe they will continue to manage their clients’ money for multiple generations, even if they don’t know the heirs.  Read more >
Parents and Kids Both Influence the Flow of ‘Modern Money’
Shifting attitudes about supporting adult children financially have helped reshape Americans’ thinking about wealth and retirement readiness. Read more >
Families With Special Needs Children Not Prepared for Future
Most caregivers of special needs children don’t work with financial advisers; however there is strong interest in working with financial advisers who specialize in special needs planning. Read more >
Retirement Savings Takes a Back Seat to College Savings for Parents
Seventy-three percent of parents agree with the statement, “I’d be willing to delay my retirement to pay for my kids’ college education.” Read more >
How To Make 529 Plan Service Pay Off
Offering advice about 529 college savings plans can deepen client relationships, though such services are not usually big revenue drivers on their own. Read more >
Many Parents Draining Savings to Help Children
The Bank of Mom and Dad is playing a major role in the U.S. housing market, according to Legal & General Group, putting some parents’ retirements at risk. 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.
A New World and New Opportunities for Alpha
Pandemic-driven volatility has once again highlighted the relative virtues of active and passive management.
2020 PLANADVISER Retirement Plan Adviser Survey
Getting Income Projections Right
Retirement industry practitioners support the provision of mandatory lifetime income disclosures to plan participants, but they also emphasize the importance of broader income conversations and education.
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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