Wednesday, August 9th, 2023 A biweekly topical newsletter from PLANADVISER Managed Accounts and Participant Advice Participant engagement and guidance is an important and evolving area of focus for plan sponsors. Below are recent PLANADVISER stories covering trends in managed accounts and advice. SPONSORED AD PRACTICE MANAGEMENT Smaller Plan Sponsors More Likely to Use TDF to Default Managed Accounts A hybrid QDIA solution that transfers participants from a TDF into a managed account can be a hard sell, say plan advisers, but there is traction among smaller plan sponsors with less litigation risk. INVESTING Managed Account Sponsors Shifting Advisers off Portfolio Management, According to Cerulli Recent surveying shows more managed account sponsors are moving advisers to focus on clients, relying on home office or outsourced portfolio management. DATA & RESEARCH 73% of 401(k) Savers Would Like Personalized Investment Advice Calculating the amount needed for retirement and identifying a retirement income stream are among the top needs for workplace savers, according to Schwab’s annual 401(k) participant survey. PRODUCTS Plan Sponsors Want More Automatic Retirement Features to Help Unengaged Participants A TIAA survey of 80 plan sponsors points to the need for plan sponsors, advisers and providers to provide a low-cost default retirement income option. PRACTICE MANAGEMENT Carson Group Starts Beta Testing for New Financial Wellness Program The wealth manager plans to join other big RIAs in serving participants with its own financial wellness program, according to its head of wealth solutions. PRACTICE MANAGEMENT How to Best Protect Workers’ Retirement Savings Plan sponsors can utilize 401(k) loan insurance to maximize the power of automatic portability and protect workers’ savings, according to Faegre Drinker Biddle & Reath’s Campbell.  Did someone forward you this newsletter? Sign up here to get PLANADVISER Spotlight directly in your mailbox!

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