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Wednesday, January 11th, 2023
A biweekly topical newsletter from PLANADVISER
Practice management
The retirement plan adviser industry is going through pivotal changes, from acquisitions and partnerships with traditional wealth managers, to new products and services seeking to expand participant coverage, to the passage of SECURE 2.0. This Spotlight newsletter includes some of the topics and issues retirement advisers should be considering for their business now and into the future.
Personalization Push Heightens Need for Advisers to Vet Cybersecurity
As advisers seek more participant personalization from retirement recordkeepers, they also need to ramp up their focus on cybersecurity from providers, according to industry participants.
How SECURE 2.0 Will Affect New Plan Creation
The two main provisions affecting new plan creation are required automatic features and more generous tax credits.
Recordkeepers Beat Out External Managers for IRA Rollovers
While new research finds recordkeepers took the lead for overall rollover count in 2022, IRA providers outside of employer retirement plans kept their dominance for accounts of $250,000 or more.
Education Options for Alternative Investments Expand
As alternative investments grow in popularity, so do programs to educate and assist advisers looking to discuss them with clients.
Retirement Advisers Increasingly Want PEP Option in Toolbox
Pooled employer plans are still a nascent offering in the retirement market, but an increasing number of advisers want them available as an option and discussion point—even if they’re not recommending them.
Financial Advisers Increasingly Land Clients Through Social Media
41% of advisers told Broadridge they generated clients through social media, up from 34% in 2019.
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