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Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams3/28/2014 • 0 Comments

“How do they expect to retire on that?” In the week or so since the 2014 Retirement Confidence Survey hit the streets, I think I’ve heard that question more than any other, both from advisors and reporters alike. “That” in this case is the widely cited finding of the survey that 36% of respondents have less than $1,000 in savings. READ MORE

By Nevin Adams3/18/2014 • 0 Comments

There’s a particular spot on the Gettysburg battlefield where we always try to take a family picture. The background doesn’t change, but it’s interesting to watch how much we’ve changed over the years. READ MORE

Fred Barstein

Fred Barstein

Fred Barstein

By Fred Barstein3/31/2014 • 3 Comments

According to author Michael Lewis, the answer to that question is a resounding yes. In his soon-to-be-released book Flash Boys: A Wall Street Revolt and in a March 30 “60 Minutes” segment, Lewis explained how high-speed traders can legally get out in front of even the largest and most sophisticated institutional investors to make a few pennies. This, Lewis estimates, amounts to tens of billions in losses to ordinary investors. READ MORE

By Fred Barstein3/31/2014 • 0 Comments

New York Times business columnist Gretchen Morgenson gave a shout out March 30 to attorney Jerome Schlichter for his work in lowering 401(k) plan fees. Over the past eight years, Schlichter’s lawsuits have resulted in six settlements totaling $125 million, with five more cases pending. READ MORE

By Fred Barstein3/28/2014 • 0 Comments

And the beat goes on. Total retirement assets reached $23 trillion at the end of 2013, according to the ICI. While this reflects a healthy increase of 5% in the fourth quarter of the year, assets in TDFs grew at an even greater rate: 8%. READ MORE

By Fred Barstein3/26/2014 • 0 Comments

Judging by his State of the Union address, retirement issues are front and center for President Obama. Increasingly, state governments are following suit, with at least 16 of them now considering variations on the auto-IRA theme. Now it looks like we can add the U.S. Supreme Court. Just as the Fifth Third stock drop case is set for oral arguments next week, the Court has asked the Solicitor General and the DOL to submit a brief on the Tibble case. Many believe the Court’s invitation indicates an interest to hear the case. READ MORE

By Fred Barstein3/21/2014 • 0 Comments

Though they were owned by the same parent and shared the same record keeping platform, Putnam and Great-West were viewed as separate companies, with two strong leaders who sometimes competed against each other. In a move to harmonize their retirement businesses, Bob Reynolds has been named president and CEO Great-West Lifeco, the U.S. holding company owned by the Canadian parent. READ MORE

By Fred Barstein3/21/2014 • 0 Comments

There are tons of big name record keepers and DCIO firms – more than 40 national firms in each category. But what do they mean to a plan advisor? In reality, they mean almost nothing without the local wholesaler. So NAPA Net set out to not only find out what separates the truly elite DC wholesalers but also back it up with the first-ever industry list of Top 75 DC Wholesalers. READ MORE

By Fred Barstein3/20/2014 • 2 Comments

In a decision that exonerates Fidelity from liability, the 8th U.S. Circuit Court of Appeals upheld parts of a lower court’s ruling in Tussey v. ABB but reversed other parts — including the $13.5 million in attorney’s fees and costs awarded to Jerome Schlichter’ s firm. READ MORE

By Fred Barstein3/19/2014 • 0 Comments

Where is the next generation of plan advisors going to come from? To answer this question and highlight the next generation, NAPA will be launching its own version of “40 under 40” — the 40 top DC plan advisors under 40 years old. We will feature them in the cover story of the summer issue of NAPA Net the Magazine and on NAPA Net in June. But we need your help. Voting to choose the "40 under 40" ends on March 31. READ MORE

By Fred Barstein3/19/2014 • 5 Comments

To help out the SEC with the low percentage of RIA examinations, fi360 is offering to use its CEFEX process to increase the number of members that are reviewed. READ MORE

By Fred Barstein3/19/2014 • 1 Comments

Yale Law School professor Ian Ayres’ collaborator, Curtis Quinn, conducted an exclusive interview with Chris Carosa of Fiduciary News about their recently released study about the effect of fees on 401(k) plans. READ MORE

By Fred Barstein3/18/2014 • 0 Comments

Does Nicholas Schorsch know something about the independent broker dealer market that the rest of us don’t? Judging by the share price of RCAP, the Schorsch subsidiary that is buying BDs, the answer is yes — share prices have doubled since December and have risen 37% in the last week. READ MORE

By Fred Barstein3/17/2014 • 0 Comments

It seems like every time EBSA director Phyllis Borzi makes an appearance, she also makes news. According to an Investment News article about Borzi’s speech at a Financial Services Roundtable event on retirement policy, lawmakers lined up to challenge the DOL’s redefinition of fiduciary rule, both during and after the program. READ MORE

By Fred Barstein3/16/2014 • 0 Comments

Citing a study by befi researcher and Santa Clara business school professor Meir Statman, blogger Michael Kitces questions whether the problem with our current retirement policy is that we treat all savers the same regardless of income, savings and saving patterns. Instead, it is suggested that we should segment people (wealthy, poor and middle, further segmenting the middle) and provide different solutions for each group. READ MORE

By Fred Barstein3/14/2014 • 1 Comments

Calling the DOL redefinition of fiduciary proposal a “rule in search of a problem,” an Insured Retirement Institute (IRI) study shows that people who use a financial advisor are better prepared for retirement. The proposed rule would deny access to a financial professional for 18 million lower and middle income investors, resulting in $240 billion lost from the system and 900,000 fewer IRA accounts, according to the study. READ MORE

By Fred Barstein3/13/2014 • 0 Comments

A study by LIMRA SRI shows that U.S. companies continue to move away from DB plans as sales on pension buyouts continue to rise. Sales in 2012 are considered an anomaly because of the large transactions by GM and Verizon, but in 2013 sales had their best year since 1999. LIMRA SRI, which tracks 10 pension buyout firms in its study, predicts that 2014 will be even better due to three factors. READ MORE

By Fred Barstein3/11/2014 • 4 Comments

Why should two people in the same plan with the same account balance receiving the same service from the same provider pay different amounts because of the investments they select? With heightened fee disclosure requirements, the question is whether it is a fiduciary requirement for a plan sponsor and its fiduciary advisor to document a process of why they choose to maintain an unequal payment schedule. READ MORE

By Fred Barstein3/10/2014 • 0 Comments

Fred Reish asks whether the DOL, SEC and FINRA are working together on IRA rollovers, or whether they have independently reached the same conclusion — that the act of advising whether a plan participant should take a rollover should come under greater scrutiny. READ MORE

By Fred Barstein3/10/2014 • 0 Comments

An RIA association thinks that FINRA is going to make a play to oversee investment advisers, calling the effort “inevitable” but not “imminent.” READ MORE

By Fred Barstein3/10/2014 • 0 Comments

Our list of national record keepers serving the DC market is provided below. It was last updated in May 2014. READ MORE

By Fred Barstein3/7/2014 • 0 Comments

While the market for firms offering online financial advice is limited even by the most generous estimates, the biggest opportunity may be partnering with traditional advisors, according to a report by Aite Group. READ MORE

By Fred Barstein3/6/2014 • 0 Comments

Though fewer participants used an advisor to help with retirement planning at work in 2013, according to a study by Mercer and Brightscope, the quality of the investor was very high — as was participants’ confidence in being able to achieve their goals. READ MORE

By Fred Barstein3/6/2014 • 0 Comments

Polling 540 executives from record keepers, DCIOs and consultants, a P&I/Rocaton study found that two-thirds of the execs believe that the use of revenue sharing will decline. Only 10% thought that it would increase. In its place, respondents think, participant fee equalization will become more popular. READ MORE

By Fred Barstein3/6/2014 • 1 Comments

The SEC is asking for a 26% increase in its FY 2015 budget, to $1.7 billion, much of which would be used to hire additional examiners. The additional funding would allow the agency to hire 639 more people, of which 316 would be in compliance — with 240 focused on advisors. READ MORE

By Fred Barstein3/4/2014 • 0 Comments

RIAs stepped up to lead the M&A market last year, accounting for 44% of the 54 deals, according to research from Schwab. That number was up from 22% in 2012, when consolidators accounted for half of the deals. READ MORE

By Fred Barstein3/4/2014 • 0 Comments

Concerned that participants are being shortchanged by the practice of lump sum, end-of-year payment of matches (brought to light by AOL’s recent misfire), Massachusetts’ Secretary of the Commonwealth and chief securities regulator William F. Galvin sent a note to what he thought were the top 25 DC record keepers to determine how many people have been affected. The problem is that many of those providers do not currently offer those services and therefore will not be able to respond. In addition, many of the larger record keepers were not contacted. READ MORE

By Fred Barstein3/4/2014 • 0 Comments

The United Kingdom’s Financial Conduct Authority (FCA) is taking a hard look at the £12 billion annuities market, with the possibility that annuities will be banned entirely, according to one expert. READ MORE

By Fred Barstein3/3/2014 • 2 Comments

In an unprecedented move, Charles Schwab sent notice to 401(k) clients worth a total of more than $25 billion that it was terminating their relationships because the record keeper was not allowed access to plan participants. READ MORE

By Fred Barstein3/3/2014 • 2 Comments

Last week, a federal court in the Southern District of New York dismissed a proposed class action lawsuit by a 401(k) plan sponsor against Morgan Stanley acting as the plan’s broker. At the heart of the claim were payments made by the record keeper to MS to be part of the broker dealer’s Alliance Partner program. The plaintiff alleged that even though MS was not acting as a fiduciary, the payment was a prohibited transaction since the fees received were unreasonable because MS did not do any work on the plan. READ MORE

By Fred Barstein3/3/2014 • 1 Comments

According to a report in CFO Daily News, the average fine resulting from a DOL audit has risen fourfold in just four years, and now tops $600,000. In addition, 88 people including corporate officers and providers were criminally indicted last year. Three out of four DOL audits resulted in a fine, penalty or reimbursement. The most common errors included: READ MORE

Jerry Bramlett

Jerry Bramlett

Jerry Bramlett

By Jerry Bramlett3/26/2014 • 0 Comments

A recent Investment News article promotes the idea that, “for advisers, the addition of private equity opens new doors and poses new challenges.” READ MORE

By Jerry Bramlett3/19/2014 • 0 Comments

In terms of types of money management, it seems that the names are increasingly being narrowed down to three types: beta, smart beta and active. The evolution of the distinction between beta and active began to occur in 1960s; the type of portfolio management that today is called “smart beta” has been around since the early 1980s. READ MORE

John Carl

John Carl

By John Carl3/26/2014 • 0 Comments

Responding to a question from an advisor in North Carolina, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question regarding DOL investigations of retirement plans. READ MORE

By John Carl3/18/2014 • 0 Comments

Responding to a question from an advisor in Texas, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a question about state-sponsored retirement plan programs. READ MORE

By John Carl3/12/2014 • 0 Comments

Responding to a question from a financial advisor in Pennsylvania, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a question related to tax reporting and the importance of IRS Form 8606. READ MORE

By John Carl3/4/2014 • 0 Comments

Responding to a call from a financial advisor in North Carolina, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question related to shares of investments and voting rights. READ MORE

Craig Hoffman

Craig Hoffman

Craig Hoffman

By Craig Hoffman3/12/2014 • 0 Comments

The Department of Labor released its long-promised proposal to require that a guide or summary accompany a covered service provider’s 408(b)2) disclosures on March 11. The final 408(b)(2) regulations, which became effective July 1, 2012, left this question open, with the DOL promising to revisit the issue in the future. Release of the March 11 proposed rule makes good on that promise. READ MORE

John Iekel

John Iekel

John Iekel

By John Iekel3/31/2014 • 0 Comments

For investment committees to do their job properly, they need to function smoothly. Bob Collie, chief research strategist for Russell Investment’s Americas Institutional business, offers some tips on holding an effective investment committee meeting. READ MORE

By John Iekel3/28/2014 • 0 Comments

What are the best ways to measure the profitability of your practice? A March 25 panel discussion at the NAPA 401(k) Summit offered some tips. READ MORE

By John Iekel3/26/2014 • 4 Comments

“It’s not just about a decision to save, it’s about saving more.” NAPA Executive Director/CEO Brian Graff captured the heart of the discussion over retirement readiness at a March 25 session of the NAPA 401(k) Summit in New Orleans. Graff debated Teresa Ghilarducci, Chair of Economic Policy Analysis and Director of the Schwartz Center for Economic Analysis at the New School — and well-known critic of the 401(k) system. READ MORE

By John Iekel3/26/2014 • 3 Comments

Even a business model or industry that’s perfect won’t stay that way forever. But having the vision and courage to anticipate and create demand and go beyond just changing with the times can be revolutionary. That was the core message of best-selling author Seth Godin in his March 24 keynote address at the NAPA 401(k) Summit. READ MORE

By John Iekel3/24/2014 • 0 Comments

“These are watershed times,” remarked Pentegra Retirement Services' Pete Swisher of the now-years long Department of Labor effort to change the definition of fiduciary. Swisher made his comments in a March 24 workshop session at the NAPA 401(k) Summit in New Orleans. READ MORE

By John Iekel3/24/2014 • 0 Comments

“You’re a consultant. Don’t let yourself be commoditized.” That’s what Ellen R. Lander, principal at White Oak Advisors, would tell someone just starting out as an advisor. Speaking at a March 24 session of the NAPA 401(k) Summit in New Orleans, Lander advocated a new mindset toward what advisors do. “As an industry, we have to get our minds around us being consultants,” Lander argued. READ MORE

By John Iekel3/24/2014 • 0 Comments

“Right now is a pivotal time for the retirement plan industry,” declared Wagner Law Group president Marcia S. Wagner -- capturing the tenor of a discussion about longevity planning at a March 23 panel discussion at the NAPA 401(k) Summit in New Orleans. Guaranteed income does not come from systematic withdrawals or managed payouts; the best solution, Wagner said, are guaranteed lifetime withdrawal benefits (GLWBs). READ MORE

By John Iekel3/24/2014 • 0 Comments

So many actions have unintended consequence. A perfect example: enactment and implementation of the Affordable Care Act, which may have an unintended impact on retirement plans. The ACA may well have indirect and direct effects on retirement plans, said Wagner Law Group president Marcia S. Wagner at a March 23 session of the NAPA 401(k) Summit in New Orleans. READ MORE

By John Iekel3/19/2014 • 0 Comments

Research released by EBRI March 18 shows that a sizable portion of the population has saved very little. That’s sobering by itself, but a closer look reveals more regarding what that means for retirement plan participants and sponsors. READ MORE

By John Iekel3/18/2014 • 0 Comments

Changing policy toward and tax treatment of 401(k) plans may be an idea academia and some pols are entertaining, but their ideas don’t resonate with the people their theories would affect. In a survey of more than 3,000 U.S. adults, the Investment Company Institute (ICI) found strong support for keeping tax policy on 401(k)s right where it is. READ MORE

By John Iekel3/18/2014 • 0 Comments

Some rays of sun appear to be dispelling the gloom that has long engulfed employees’ confidence in their ability to fund a comfortable retirement. The Employee Benefit Research Institute in its 2014 Retirement Confidence Survey (RCS) reports that more than half of employees are at least somewhat confident of that. READ MORE

By John Iekel3/16/2014 • 1 Comments

The Department of Labor has hired a contractor to gather input from plan fiduciaries on its March 11 proposed rule requiring service providers to furnish a guide to their 408(b)(2) disclosure documents. ICF International will hold eight to 10 focus group sessions, according to the DOL. READ MORE

By John Iekel3/13/2014 • 0 Comments

“Senators, time is not our ally on this matter.” Oregon State Treasurer Ted Wheeler captured one of the few things that witnesses at a March 12 hearing of the Senate Banking, Housing and Urban Affairs Committee’s Economic Policy Subcommittee agreed on — that Americans need to save more for retirement. READ MORE

By John Iekel3/13/2014 • 4 Comments

Saying that she is troubled by 401(k) providers that are circumventing the 408(b)(2) fee disclosure rule’s demands, EBSA’s Phyllis Borzi warned providers March 11 that they need to do a better job at following the rule’s requirements to provide information that is easy to understand. READ MORE

By John Iekel3/12/2014 • 2 Comments

Offering participants too many options can discourage enrollment. But what’s the “sweet spot” in terms of the optimal number of enrollment options? A test by Fidelity found that 78% of participants preferred a three-part enrollment option — and that those who chose that option contributed more. READ MORE

By John Iekel3/11/2014 • 0 Comments

The news about public-sector pension plans has not been good, and a reputable crystal ball does not see improvement in sight. Pension Pulse reports that Berkshire Hathaway Chief Executive Warren Buffett has warned in a letter to Berkshire shareholders that promises local and state governments made to provide pensions to retirees will become even harder to fulfill and will tighten the financial vise squeezing those governments and those plans. READ MORE

By John Iekel3/7/2014 • 0 Comments

When it comes to saving through a DC plan, more is better. But how much? A new paper by Fidelity offers a guideline: Targeting a percentage of an average earner’s final net pay as a goal for income replacement. READ MORE

By John Iekel3/6/2014 • 0 Comments

Sometimes rules are made to be broken — even when they are long-standing and seem rock-solid. The 4% rule is one, and “Breaking the 4% Rule,” a recent paper by J.P. Morgan makes the case for that. READ MORE

By John Iekel3/4/2014 • 2 Comments

Many employers match a certain percentage of what their employees defer into their 401(k)s. In the wake of the recent debacle at AOL, Investment News recently looked at the advantages and disadvantages of providing the match on an annual basis. READ MORE

By John Iekel3/4/2014 • 0 Comments

Plan advisors are well aware that one of their clients’ newest — not to mention most publicized and even controversial — demands is fee disclosure. To meet that demand, some advisors are going a step further. Investment News reports that some advisors are providing fee policy statements in addition to the required information. READ MORE

Jennifer McKibben

Jennifer McKibben

By Jennifer McKibben3/28/2014 • 0 Comments

Fidelity Institutional Wealth Services has just announced “Retirement Plan Growth Strategies,” a new program to help RIAs accelerate growth in their retirement plan business through consulting, tools and connections to the right resources. READ MORE

By Jennifer McKibben3/26/2014 • 0 Comments

Lincoln Financial Distributors, the wholesale distribution business of Lincoln Financial Group, has announced the addition of two regional sales directors to its intermediary retirement plan sales force. READ MORE

By Jennifer McKibben3/26/2014 • 0 Comments

Mutual of Omaha Retirement Services’ 401(k) customers now have a new tool to benchmark their plans and identify changes that will help plan participants successfully prepare for retirement. READ MORE

By Jennifer McKibben3/24/2014 • 0 Comments

Fidelity has announced that it won 18 2014 U.S. Lipper Fund Awards, which honor individual mutual funds that have outperformed their peers based on risk-adjusted, consistent returns. READ MORE

By Jennifer McKibben3/21/2014 • 0 Comments

Pensionmark® Retirement Group recently launched their Employer Document Vault, an enterprise-level document storage system that supports thousands of client records and millions of documents. It offers clients the ability to access key retirement plan document anywhere, anytime. READ MORE

By Jennifer McKibben3/19/2014 • 0 Comments

Christopher Jones has been named chief investment officer for stocks in the Americas at BlackRock. He replaces Chris Leavy, who went on medical leave in June. Jones, along with Nigel Bolton, head of BlackRock's European equity team, also will be co-heads of fundamental equity — which are newly created roles. READ MORE

By Jennifer McKibben3/19/2014 • 0 Comments

This second blog in a two-part series about retirement readiness discusses whether 401(k)s and Social Security can adequately meet retirement income needs. READ MORE

By Jennifer McKibben3/17/2014 • 0 Comments

Legg Mason’s acquisition of QS Investors LLC spells the end of Batterymarch Financial Management Inc., the 45-year-old Boston-based quantitative equity manager that many regarded as a pioneer in its field. READ MORE

By Jennifer McKibben3/17/2014 • 0 Comments

Last week’s top five most read posts on NAPA Net reflected keen interest in IRA rollovers, fee equalization, DOL’s proposed guide to 408(b)(2) disclosure documents and Phyllis Borzi’s warning to providers about disclosures, and Schwab’s love letter to clients about IRA rollovers. READ MORE

By Jennifer McKibben3/13/2014 • 0 Comments

ING U.S. filed a follow-on offering with the SEC March 10 to further reduce parent ING Group's 57% ownership stake in the firm, confirmed company spokesman Christopher Breslin. READ MORE

By Jennifer McKibben3/12/2014 • 0 Comments

Fidelity Investments has announced the first phase of a comprehensive suite of innovative tools and technologies developed to help thousands of American employers and millions of employees make better retirement planning decisions and ultimately try to help them achieve better retirement outcomes. READ MORE

By Jennifer McKibben3/11/2014 • 0 Comments

CAPTRUST Financial Advisors has announced that Peggy Whitmore has joined the team as vice president and financial advisor from 401k Advisors, Inc. Whitmore brings over 20 years of hands-on experience in the design, implementation and management of investment strategies for qualified and nonqualified corporate retirement plans. READ MORE

By Jennifer McKibben3/10/2014 • 0 Comments

The voting window is closed. Please look out for future voting opportunities on NAPA Net! READ MORE

By Jennifer McKibben3/10/2014 • 0 Comments

Nationwide Financial has integrated LPL Financial's Worksite Financial Solutions platform into its 401(k) products. The integration will help LPL advisors provide their retirement plan participants with financial advice. READ MORE

By Jennifer McKibben3/7/2014 • 0 Comments

The retirement services division of OneAmerica will work with personal finance broadcaster Peter Dunn to offer participants tips on retirement planning. The tips will be offered in the form of videos, podcasts and other educational materials throughout 2014. Dunn, popularly known as “Pete the Planner,” is a former financial adviser turned author, talk show host and TV news personality. READ MORE

By Jennifer McKibben3/6/2014 • 0 Comments

Legg Mason has agreed to acquire QS Investors, a New York-based customized solutions and global quantitative equities provider. The acquisition is expected to close in the second quarter. READ MORE

By Jennifer McKibben3/4/2014 • 0 Comments

Jim Brockelman is rejoining John Hancock Retirement Plan Services as national director, mid-market, effective this week. He will report to Bob Carroll, national sales manager for JHRPS, and lead the company's expansion into the 401(k) mid-market sector. READ MORE

By Jennifer McKibben3/4/2014 • 0 Comments

Morgan Stanley recently announced the addition of a discretionary investment program to its DC plan advisory services offering. The new program enables Morgan Stanley’s Corporate Retirement Directors and Graystone Institutional Consulting Directors to assume certain fiduciary responsibilities, assisting plan sponsors with complex investment selection and asset allocation decisions. READ MORE

By Jennifer McKibben3/4/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in Rep. Dave Camp’s tax reform proposal and Brian Graff’s response to it, publication of Yale Law professor Ian Ayres’ paper attacking employer-sponsored retirement plans, and Massachusetts’ investigation of annual lump sum matches and Mary Jo White’s push for an SEC fiduciary rule. READ MORE

By Jennifer McKibben3/3/2014 • 0 Comments

Eagle Asset Management, the mutual fund arm and wholly owned subsidiary of Raymond James Financial, has named Ran Gimeno to Senior Vice President, National Director of DCIO Sales and Executive Team member. Gimeno will be responsible for heading advisor-driven sales and leading the firm's FA, RIA, DC consultant relations and national retirement platform relationships. READ MORE

John Ortman

John Ortman

By John Ortman3/31/2014 • 0 Comments

The 2014 NAPA 401(k) Summit, held last week in New Orleans, got rave reviews from attendees, speakers and exhibitors alike. You can get a taste of the six general sessions and 24 workshop sessions at this year's Summit from our onsite coverage of the event: READ MORE

By John Ortman3/28/2014 • 0 Comments

Where is the next generation of plan advisors going to come from? To answer this question and highlight the next generation, NAPA is launching its own version of “40 under 40” — the 40 top DC plan advisors under 40 years old. But we need your help — the voting period has been extended until next Friday, April 4. READ MORE

By John Ortman3/26/2014 • 0 Comments

Next month, ASPPA and NAPA are converting to a new e-commerce platform that will make purchasing educational products and registering for events easy and seamless. To prepare for this change, ASPPA will be upgrading many of the systems running behind the scenes between tomorrow, March 28 and April 6. READ MORE

By John Ortman3/26/2014 • 0 Comments

There's good news and there's bad news on the IRA rollover front. The good news: The regulatory agencies and industry groups with jurisdiction over IRAs -- the DOL, the SEC and FINRA -- seem to be getting on the same page, diminishing the likelihood of conflicting mandates from multiple regulators. The bad news: They seem to be moving in the direction of the DOL's approach to rollovers, increasing the likelihood of yet another participant disclosure mandate. READ MORE

By John Ortman3/26/2014 • 0 Comments

It’s been two weeks since the DOL issued its proposal to require a new 408(b)(2) fee disclosure summary, and we’re now starting to see the deeper, “second-day” analyses from the law firms that serve the retirement plan market. One of the best of these deeper dives, from the Groom Law Group, describes several new requirements in the March 12 proposed rule that go beyond the new 408(b)(2) summary guide. READ MORE

By John Ortman3/24/2014 • 0 Comments

It may have been 20 years since Sgt. Pepper taught the band to play, but their music stopped long ago. Not so with the target date fund concept, which celebrates its 20th birthday this month, and is still growing in popularity and complexity. Wells Fargo and Barclay's debuted the first TDFs in March 1994 -- followed by Fidelity in 1996, The Principal in 2001, T. Rowe Price in 2002 and Vanguard in 2003. READ MORE

By John Ortman3/24/2014 • 1 Comments

The advisory team at Compass Financial Partners in Greensboro, NC, represented by Kathleen A. Kelly, CRPS®, AIFA®, has won the 2014 NAPA 401(k) Advisor Leadership Award. Kelly, a Founding and Managing Partner of Compass, received the award on behalf of the team during a session of the NAPA 401(k) Summit in New Orleans March 24. READ MORE

By John Ortman3/24/2014 • 2 Comments

It didn't take long for the politically charged issue of income inequality, especially as it pertains to 401(k) plans, to take center stage at this year's NAPA 401(k) Summit. At the always-popular Washington update general session less than an hour into this year's Summit, NAPA's executive director/CEO Brian Graff raised the issue. READ MORE

By John Ortman3/24/2014 • 0 Comments

Steven Dimitriou, AIF, AAMS, PRP, has been named President of the National Association of Plan Advisors. At the opening session of the 2014 NAPA 401(k) Summit March 23, Marcy L. Supovitz, NAPA’s founding president, passed the gavel to Dimitriou, who will serve as President for 2014-2015. READ MORE

By John Ortman3/21/2014 • 0 Comments

Next month, NAPA is converting to a new e-commerce platform that will make purchasing NAPA educational products and registering for NAPA events easy and seamless. To prepare for this change, NAPA will be upgrading many of the systems running behind the scenes between March 28 and April 6. READ MORE

By John Ortman3/21/2014 • 0 Comments

The 2014 NAPA 401(k) Summit kicks off in New Orleans on Sunday and runs through mid-day Tuesday. We'll be there from start to finish, reporting on the Summit's six general sessions, 24 workshops and more. Don't miss next week's special Summit editions of the Daily, Monday-Thursday. And to get the full gumbo flavor of this year's event via social media, use #401ksummit — and follow us on Twitter at @napasummit. READ MORE

By John Ortman3/16/2014 • 0 Comments

Now in its seventh year, the 401(k) Advisor Leadership Award continues to recognize leadership, innovation and contributions to the retirement plan industry with the sales, marketing and establishment of 401(k) plans. This is the third of three profiles of the finalists for the 2014 NAPA 401(k) Leadership Award: Alliance Benefit Group Financial Services, represented by Bradley K. Arends, J.D.; Compass Financial Partners, represented by Kathleen A. Kelly, CRPS®, AIFA®; and Maresh Yoshida 401(k) Group, represented by Henry Yoshida, CFP®, CIMA®. READ MORE

By John Ortman3/13/2014 • 0 Comments

Now in its seventh year, the 401(k) Advisor Leadership Award continues to recognize leadership, innovation and contributions to the retirement plan industry with the sales, marketing and establishment of 401(k) plans. This is the second of three profiles of the finalists for the 2014 NAPA 401(k) Leadership Award: Alliance Benefit Group Financial Services, represented by Bradley K. Arends, J.D.; Compass Financial Partners, represented by Kathleen A. Kelly, CRPS®, AIFA®; and Maresh Yoshida 401(k) Group, represented by Henry Yoshida, CFP®, CIMA®. READ MORE

By John Ortman3/12/2014 • 0 Comments

Now in its seventh year, the 401(k) Advisor Leadership Award continues to recognize leadership, innovation and contributions to the retirement plan industry with the sales, marketing and establishment of 401(k) plans. This is the first of three profiles of the three finalists for the 2014 NAPA 401(k) Leadership Award: Alliance Benefit Group Financial Services, represented by Bradley K. Arends, J.D.; Compass Financial Partners, represented by Kathleen A. Kelly, CRPS®, AIFA®; and Maresh Yoshida 401(k) Group, represented by T. Henry Yoshida, CFP®, CIMA®. READ MORE

By John Ortman3/10/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in Schwab’s willingness to lose out on big money over IRA rollovers, President Obama’s FY 2015 budget, DC executives’ belief that the shelf life of revenue sharing is limited, the average DOL fine quadrupling in the last four years, and Massachusetts sending lump sum match inquiries to the wrong providers. READ MORE

By John Ortman3/7/2014 • 0 Comments

NAPA has experienced tremendous growth since its inception in 2011 — we now have more than 7,000 individual members and over 150 Firm Partners. To help manage a venture of this size, NAPA would like to hire an individual, ideally someone with 401(k) industry experience, to be in charge of NAPA membership and Firm Partner relations.  READ MORE

By John Ortman3/6/2014 • 0 Comments

If you’ve been putting off registering to attend this year’s NAPA 401(k) SUMMIT March 23-25 in New Orleans, now’s the time to make your arrangements. In fact, there’s only one week left to register — the deadline is next Friday, March 14. READ MORE

By John Ortman3/6/2014 • 1 Comments

NAPA has announced the three finalists in the running for the 2014 401(k) Advisor Leadership Award. One of the three finalists will receive the 2014 401(k) Advisor Leadership Award during the 2014 NAPA 401(k) SUMMIT, March 24 in New Orleans. They were chosen from a group of 10 semi-finalists. READ MORE

By John Ortman3/4/2014 • 2 Comments

The $3.901 trillion federal budget for FY 2015 that President Obama unveiled March 4 would raise taxes, expand existing tax credits and fund a variety of entitlement programs. The budget also contains several retirement-related proposals that were first proposed in the president’s FY 2014 budget proposal last year, including a double tax on retirement plan contributions and a cap on total retirement savings contributions. READ MORE

NAPA Net Staff

NAPA Net Staff

By NAPA Net Staff3/16/2014 • 0 Comments

This first of a two-part series about retirement readiness looks at the rule-of-thumb numbers cited as guidelines for income replacement in retirement. READ MORE

By NAPA Net Staff3/14/2014 • 0 Comments

As William Shakespeare might have said if he were a plan advisor in 2014, "Are you in or are you out? That is the question." Decision time is here — advance registration for the 2014 NAPA 401(k) SUMMIT ends today. Your choice: you can either be in — joining the crowd at the 401(k) industry's singular annual event, tuning in to what the best and the brightest in the business are thinking about today, and taking concrete steps to move the needle on your own success — or you can get left out. READ MORE

By NAPA Net Staff3/13/2014 • 0 Comments

Okay, maybe using food to illustrate your success is a silly metaphor. But after all, the 401(k) SUMMIT will be in New Orleans next week, and elevating your success is what the SUMMIT is all about. It’s the largest annual gathering of retirement plan advisors in the country — the best place to watch, learn and share, and to ultimately grow and enhance your business. READ MORE

By NAPA Net Staff3/12/2014 • 1 Comments

Have you made your plans for the 2014 NAPA 401(k) Summit yet? This year's Summit is right around the corner — it’s March 23-25, a little more than a week away. And the cutoff for registrations is even sooner — the day after tomorrow, March 14. Who’s going to be there? Let’s take a look at the all-star keynoters, speakers and workshop leaders, as well as the firms that have already registered to attend. READ MORE

By NAPA Net Staff3/6/2014 • 0 Comments

I speak with a lot of advisors, most of whom, I believe, are good at what they do. I look at their credentials and I am generally impressed. I look at their books of business and I assume that they are successful. Assuming all of this is true, how would I decide to hire one of them over another? What differentiates one advisor from another? READ MORE

By NAPA Net Staff3/3/2014 • 0 Comments

At the 2014 NAPA 401(k) Summit in New Orleans, we want you to "elevate" — your knowledge, your practice and your clients' success. We continually ask for your ideas and feedback to make this event a unique, interactive environment for retirement plan professionals. READ MORE