PLANADVISER Weekend Newsdash
Week ending August 30th, 2019

Industry insiders believe that as they grow their assets, state-run auto-IRAs could become a source of new clients for retirment plan advisers. The industry is also beginning to recruit new talent, as the median age of lead advisers is 46 years, down from 50 as measured in 2015. Believe it or not, advisory practices are finding new talent in the hospitality industry. Social media, particularly LinkedIn, can be a fruitful way to prospect for new clients. Advisers are also finding that by outsourcing technology, investment management and legal and compliance, they are able to grow their practices faster.

Prospecting and Practice Growth
State-Run Auto-IRAs Will Help Close the Coverage Gap
Sources view state-run retirement savings plans as useful for improving retirement readiness, as well as a potential business opportunity for advisers. Read more >
The Next Generation of Producers Is Emerging
The median age of advisory firm associates is 42, while the median age of lead advisers is now 46 years, down from 50 as measured in 2015. Read more >
Sourcing Advisory Talent in Unexpected Places
Advisory firms and recordkeepers are finding talent in the hospitality industry and among the ranks of the recently retired. Read more >
How To: Social Media for Retirement Plan Advisers
Many advisers consider themselves to be social media experts, but a closer examination of their practices shows there is room for improvement. Read more >
Advisers Find Outsourcing Key to Growing Practices
Technology, investment management, and legal and compliance are the top three areas where advisory practices often turn to outside experts, according to Fidelity. Read more >
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