Stars Among Us

Congratulations to the 2014 PLANSPONSOR Retirement Plan Advisers of the Year!
Reported by Lee Barney

Our cover story this month showcases the profiles of the highly anticipated winners in the individual, team and multioffice team categories. Having completed my third year as a judge in this process, I can attest that it is detailed and painstaking. We analyze each finalist’s 50-question entry form, the firm’s organizational structure, and FINRA and Securities and Exchange Commission (SEC) checks of all team members; we also perform an hour-long interview with each via conference call, and assess numerous client references and the published finalist profiles. We hope you will be inspired by the insights into Joe Connell, the 2014 PLANSPONSOR Retirement Plan Adviser of the Year; Innovest Portfolio Solutions, the 2014 PLANSPONSOR Retirement Plan Adviser Team of the Year; and SageView Advisory Group, the 2014 PLANSPONSOR Retirement Plan Multioffice Team of the Year.

“ERISA at 40” traces the origins of the Employee Retirement Income Security Act (ERISA). We review its evolution across the past four decades to protect not just pension plans but defined contribution (DC) and group welfare plans. The law—administered by the Department of Labor (DOL), the Internal Revenue Service (IRS) of the Department of the Treasury and the Pension Benefit Guaranty Corp. (PBGC)—has developed significantly over the years. We also have a Q-and-A with Frank Cummings, one of the authors of the expansive law, and asked some industry insiders for their thoughts about how the act could be improved.

Our second feature story looks at the emerging trend of 3(21)/3(38) fiduciary partnerships. “The Sides of Fiduciaries” outlines the many benefits for plans that employ both types of fiduciaries, as well as how increasingly strict regulations are prompting advisers to form such partnerships.

If you want ideas for how to get the participants in your plans more engaged regarding their accounts and their retirement future, “Tools of Engagement” is a fascinating read. Advisers are using new technology—including games, social comparison tools showing where participants stand compared with peers, and iPads and iPods at enrollment meetings—to get participants into the plan and then show them how their balances translate into monthly income. Some advisers now also shoot videos of participants speaking about what they would like their retirement to look like. As one adviser says, “If they can picture it, it helps me plan it for them.”

If you think the letters at the end of advisers’ names are a bit of alphabet soup—and getting longer—you aren’t alone. “More Than Just an Acronym” examines some of the most commonly held designations, as well as those focused solely on workplace retirement plans. Our research team expands on this idea in its Data Points column, “Driver’s License,” examining the types and number of credentials held by the advisers who submitted entries for this year’s Retirement Plan Adviser of the Year awards program. Nearly all respondents (97%) hold at least one accreditation, and 85% hold at least two.

We would love to receive your feedback on these stories—especially to hear some ideas of your own.

Nominations Are Now Open

Do you have a client that is focused on being an excellent plan fiduciary and is determined to improve participants’ retirement readiness? We are now accepting nominations for the 2015 PLANSPONSOR Plan Sponsor of the Year Awards. This is an excellent opportunity for you to honor an outstanding plan sponsor’s achievements. Nominate your clients here: www.research.net/s/PSOY2015.

Would you like to be considered for the 2015 PLANADVISER Top 100 Advisers? Like last year, you can nominate yourself for that list, in which we rank advisers according to their retirement plan assets under advisement (AUA), number of plans under advisement and other relevant criteria. Please make your nomination here:
www.research.net/s/PA100.

If you know a superb retirement plan adviser who you think is worthy of a 2015 PLANSPONSOR Retirement Plan Adviser of the Year Award, we encourage you to suggest him or her! Self-nominations aren’t allowed; to be considered, ask your plan sponsor clients or your recordkeeping or broker/dealer (B/D) service providers to nominate you. Nominations may be made here: www.research.net/s/RPAY2015.