PLANADVISERdash – August 30, 2023

Weekday news and analysis for retirement plan advisers

Wednesday, August 30, 2023

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Advisers: Roth Catch-Up Extension Welcome, Clarity Still Needed

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Retirement plan advisers were happy to tell plan sponsors about the two-year Roth catch-up extension. But the hard work isn’t over.

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Fidelity Finds 22% of Plan Sponsors Actively Searching for New Adviser

Among those looking, 38% they were seeking an adviser offering more extensive services.

Today’s Most Read

1.	Republican Tax Bill Expands 529s and HSAs, Limits Changes to Retirement
2.	PLANADVISER'S 2025 Retirement Plan Adviser of the Year Winners
3.	Senate Bill Would Expand Retirement Plan Access to Younger Americans

Smart Widens Fiduciary Services, Including for Pooled Employer Plans

Smart is joining the push into PEPs with an offering geared toward advisory firms and providers such as recordkeepers, asset managers and TPAs.

Wells Fargo Agrees to Pay $35 Million for Overcharging Advisory Accounts

The registered investment adviser overbilled clients with custom rates by maintaining inadequate procedures, the SEC said.

What Do You Want to Know About the Psychology of Financial Planning?

During a session on September 11 at the PLANADVISER National Conference, Dr. Sonya Britt-Lutter will participate in a fireside chat about the psychology of financial planning. Britt-Lutter is an Associate Professor of Personal Financial Planning at Kansas State University and is a co-contributor to the book, “The Psychology of Financial Planning,” published by the CFP Board. This session will give you insights on helping individuals reach their financial goals. If you have questions about the psychology of financial planning, please let us know.

Market Mirror

Tuesday, the Dow rose 292.69 points (0.85%) to close at 34,852.67, the Nasdaq rose 238.63 points (1.74%) to close at 13,943.76 and the S&P 500 rose 64.32 points (1.45%) to close at 4,497.63. The Russell 2000 gained 26.53 points (1.42%) to close at 1,895.54 and the FT Wilshire 5000 Index gained 633.22 points (1.42%) to close at 45,311.30.

The 10-year Treasury note increased 29/32, bringing the yield to 4.118%. The 30-year Treasury bond increased 31/32, bringing the yield to 4.228%.

Industry Intel Roundup Featured Webinars

PLANADVISER is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by or featuring experts in the industry. The content was created to supply actionable insights to retirement plan advisers regarding client service and practice management.

Sponsored by Commonwealth | June 10, 2025

The 4-1-1(k): A SECURE 2.0 Provision’s “Grand” Impact on Emergency and Retirement Savings

How big of a difference can $1K make? For retirement plan engagement, the answer could depend on how well RPAs and recordkeepers understand and communicate the relationship between short-term and long-term savings to plan sponsors and their benefit-eligible employees. Under the SECURE 2.0 Act, employees can withdraw up to $1,000 once a year from their traditional 401(k) retirement accounts for self-identified emergencies, without paying the 10% early withdrawal tax. Research and thought leadership from Commonwealth, BlackRock’s Emergency Savings Initiative, Compass Financial Partners, a Marsh & McLennan Agency LLC Company, and Voya Financial sheds light on the wide-ranging needs of employees in a geographically diverse workforce, and how a suite of emergency savings and liquidity options can best serve workers, and where the new provision fits into those options. This webinar will: ● Dive into the impacts of SECURE 2.0’s $1K withdrawal provision on retirement plan engagement ● Share the RPA and recordkeeper's points of view on the implementation and impact of emergency savings benefits ● Provide tangible action steps for attendees to consider adopting a proactive provision promotion approach for their teams All views and opinions expressed by panelists are their own and are not intended to be those of sponsoring or partner organizations.