On Our 15th Year
Fifteen years ago this month, we launched the PLANADVISER brand. This decision was made in part because, through increased adviser attention to our PLANSPONSOR brand, and registrations for its events, we had seen “the role and impact of financial advisers in this industry expand greatly in significance,” to cite thoughts expressed in our premiere issue. There were plenty of publications for financial advisers—some of which paid lip service to retirement-plan-focused advisers—but none that directly aimed to speak to this demographic.
The charter issue’s cover story was titled “Now What?” a reference to the work people all across the industry were doing, attempting to sort out the implications of the recently signed Pension Protection Act (PPA), especially what it meant for retirement plan advisers. I recall questions being asked about what the role was for the adviser if a plan was able to be run on automatic plan features. It turns out, no skilled plan adviser should have worried; there’s plenty of value to be added, and advice to be given, even for—sometimes especially for—plans utilizing auto-enrollment, auto-escalation and the qualified default investment alternatives.
As is common with any anniversary or birthday, I find myself reflecting on the past. We founded PLANADVISER with a mission to help those advisers who had been working in this role for years, as well as those just getting involved with employer-sponsored retirement programs. We told you there would be “a deep appreciation of the complex issues regularly faced by retirement plan advisers, coupled with practical problem-solving strategies, as well as features on things as diverse as practice management, business development and effective plan administration.” I’d like to think we’ve done well meeting that mission, which continues to be at the core of this brand.
As we look ahead, we have many plans for PLANADVISER to respond to the changing landscape of the industry and to create more opportunities to help you be better at your job. We will continue to recognize, and share stories from, those who are doing great things. Over the next few months, you will see a new set of adviser awards and recognitions—these range from a slightly different approach to our Top 100, to a whole new set of Retirement Plan Adviser of the Year categories, some emphasizing client services, others, mentorship and diversity, equity and inclusion. We are increasing our focus on monthly in-depth features and creating more multimedia to be available online. We’ve got plans for new ways to get adviser voices front and center because the best way for us to meet your needs is to stay regularly connected and to understand how these needs are changing.
Fifteen years ago, I wrote in my opening letter that we wanted to give you a voice and a resource because “your role in helping employers—and, ultimately, participants—make choices that are well-reasoned, prudent and consistent with the requirements of ERISA [Employee Retirement Income Security Act] is a vital service. With your help, more Americans will enjoy a secure and dignified retirement.” This is only truer today than it was then. The road to financial security for most Americans is paved, with some help from payroll deferral and compounding, by employer-sponsored retirement programs. Advisers and consultants continue to play a pivotal role in helping employers frame their retirement and financial wellness benefits programs. We look forward to continued partnership with you all over the next 15 years and beyond.