Simply the Best

Congratulations to John Barry and Barbara Delaney and FFoA, PLANSPONSOR’s Retirement Plan Adviser and Adviser Team of the Year! They, like those that have been honored with the award the prior three years, stood out in a strong field of some of the most qualified advisers in the nation. You can “meet” the winners, and hear some of the secrets of their success in this issue.

Last issue, we introduced the finalists for the Retirement Plan Adviser of the Year awards. We recently conducted virtual interviews with each of them, and asked them to share their insights on business-building ideas, practice management, and what they think advisers do wrong in the retirement plan marketplace. It’s a unique set of perspectives—and we’re pleased to share them with you in this special section.

An area of growing interest to retirement plan advisers is 403(b) plans, which will come under a whole new set of rules come January 1—rules that could result in programs very similar in operation to 401(k)s, but with certain twists. Our coverage of this emerging landscape continues this issue with “(b) Prepared,” where you’ll find more detail about the new regulations and some helpful hints on how to get started, and help your clients get ready.

There are new regulations in the 401(k) arena as well and, in light of the qualified default investment alternative (QDIA) regulations, advisers and plan sponsors are taking a closer look at balanced funds. However, as time goes on, the term “balanced fund’ has started taking on a broader meaning, and that means that benchmarking such funds isn’t as straightforward as you might think. Check out “Balancing Act.”

Speaking of balancing acts, third-party administrators, or TPAs as they are generally called, are often a link among the adviser, defined contribution provider, and the micro-plan sponsor. If you don’t have a working relationship with a local TPA—or if your current TPA relationships aren’t working out the way you’d like—“The Third-Party Solution” can give you some insight as to how those relationships should work.

When it comes to building business, getting to the finals is only half the battle. Of course, submitting an RFP and getting the plan sponsor to return your phone calls isn’t easy, but standing out from those that made it to the live presentation can be even tougher. We asked some advisers to share with us their best practices for succeeding at that presentation, and winning the client and retirement plan in “Closing the Deal.”

Finally, last issue, we told you we would be introducing a column where every issue introduced a new guest writer. This month, in “Your Undivided Attention,” Dorann Cafaro, the 2006 PLANSPONSOR Retirement Plan Adviser of the Year, shares why she thinks retirement plan advisory services and wealth management services are not a winning combination.

Each year, we “meet” new and impressive advisers through the nominations process for the Retirement Plan Adviser of the Year. I continue to be impressed with how many truly gifted advisers are helping plan sponsors and benefits managers in such innovative ways. I’d like to get a chance to know more about your practice in the coming months—and, if you have not previously participated in our nominations, I encourage you to consider doing so this year. Stay tuned here—and on www.planadviser.com—for more details in coming months. I wish you luck in applying the ideas presented here to your business and hope to see your names in our “Best of” adviser lists next year.