Wednesday, April 28th, 2021 A biweekly topical newsletter from PLANADVISER Financial Wellness Greetings PLANADVISER readers and thank you for opening the latest PLANADVISER Spotlight newsletter, focused on the timely and evolving topic of financial wellness. Experienced and novice advisers alike will know there is little consensus about how to define the concept of financial wellness in the context of employer sponsored retirement plans. That said, as explored in the following articles, industry practitioners are hard at work seeking ways to better link short-term and long-term financial priorities. Client Service Advisers Have Expanded Their Role During the Pandemic Participants’ financial wellness and emergency preparedness have become more important in advisers’ service models, and some practices are even guiding clients on vaccines and reopening their businesses. Practice Management PCIA’s Take on Retirement Adviser Industry M&A, Wealth Trends Emerging market realities continue to strengthen the ties between retirement plan advisory services and individual wealth management, as evidenced by recent M&A activity. The Markets A New Telling of the Story of Persistent Inequality The interest rate regime embraced to combat strong inflation of the mid-1970s and early 1980s has had unintended consequences—including the development of historic levels of wealth inequality. Yakov Feygin says there’s a lot that can be done to turn things around. Data & Research Pandemic Lessons: The Importance of the Savings Hierarchy Sources agree that, without a solid foundation of advice about the ‘savings hierarchy,’ even successful investors can find themselves short of liquidity at critical times, most notably during emergencies. Products Vanguard Leader Encourages Retirement Industry Evolution John James says advisers can use their expertise and experience to advance much-needed discussions about improving retirement policy here in the U.S. Client Service Plan Advisers Have a Role to Play in Teaching Participants About Taxes in Retirement Participants can make the right decisions about how to save and taking distributions in retirement when they understand taxation. Client Service How to Get Participants More Engaged in Financial Wellness Programs Access via several means is key, as is meeting people where they are. Did someone forward you this newsletter? Sign up here to get PLANADVISER Spotlight directly in your mailbox!

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