Download your free copy of "DC Insights: The Active Advantages Participant Case Study" and start receiving the NAPA Net Daily from the National Association of Plan Advisors — both absolutely free! READ MORE

Managing a Practice

Managing a Practice covers the ways that advisors can profitably and successfully run their businesses. It includes practical topics like business systems, advisor fees and client services, as well as professional development and growth strategies. Also covered are overall industry trends and ethics and compliance, as well the various service providers and vendors that advisors partner with to build, grow and manage their practices.

Managing a Practice

Managing a Practice

By Fred Barstein6/12/2013 • 0 Comments

Moving from a wirehouse to be a pure RIA is a difficult and daunting proposition, with only an estimated 500-1,000 reps taking the plunge. Research shows that spousal support is important. But Focus Financial, an RIA roll-up firm with $55 billion under management, has decided to include tuck-ins of advisors with $100-$200 million under management to supplement their giant RIA acquisition strategy. READ MORE

By Fred Barstein5/10/2013 • 0 Comments

Looking for new opportunities? There’s $1 trillion sitting in orphaned retirement accounts owned by workers who changed jobs and left their 401(k) money in their old plans or have older IRAs. The problem exists even among wealthier workers — a quarter of those accounts fall in the $10,000-$50,000 range. Advisors who think this $1 trillion is too fragmented to be worth pursuing only have their sales hat on. READ MORE

By Fred Barstein5/9/2013 • 0 Comments

While recent case law does not suggest that revenue sharing violates ERISA, other court cases like Tibble and Tussey do suggest that fiduciaries have to select the lowest share class available to the plan. These decisions raise the question of whether participants should be paying different amounts — based not on the size of their account balances or the services they use, but on the funds they select and the amount of revenue sharing paid to the record keeper. READ MORE

By John Ortman5/2/2013 • 0 Comments

Writing in the Journal of Pension Benefits, Pentegra’s Pete Swisher offers a comprehensive primer on who can get paid from ERISA plans — as well as how much, in what form, and by whom. The 15-page article is not about disclosure, but about the many ways that fiduciaries, service providers and other parties in interest may be compensated (including gifts) and the circumstances under which the compensation is permissible. READ MORE

By Fred Barstein4/30/2013 • 0 Comments

The wealth management business, which has grown from a cottage industry in the 1990s into one with $5 trillion in assets under management, is facing challenges over the next 10 years that will dramatically reshape the landscape. Financial Network’s CEO Mark Hurley lays out the challenges for wealth management firms and provides insights into what may lie ahead for retirement plan advisors. READ MORE

By John Ortman4/26/2013 • 0 Comments

In a video interview with NAPA Net, Don Trone, GFS, discusses the new Leadership Center for Investment Stewards and the boot camp program he developed in conjunction with the U.S. Military Academy at West Point. The video is now posted on the new NAPA Network video channel. READ MORE

By John Ortman4/23/2013 • 0 Comments

The 2013 401(k) Advisor Leadership Award was presented to the advisory team at Fiduciary Consulting Group at PSA in Hunt Valley, MD, during a session of the 12th annual NAPA/ASPPA 401(k) Summit in Las Vegas. Jania Stout, Retirement Plans Practice Leader at PSA, received the award on behalf of the team. In a video interview with NAPA Net, Stout shares her take on the importance of a holistic approach to helping plan participants, and comments on how plan advisors can combat negative coverage of 401(k) plans in the popular media. READ MORE

By John Ortman4/22/2013 • 0 Comments

One of the highlights of the 2013 NAPA/ASPPA 401(k) Summit, held March 3-5 in Las Vegas, was a video introduction to the first general session of the conference. In the video, a series of plan advisors addressed the theme of this year’s Summit — “Make an Impact” — as well as what it means to be a retirement plan advisor today, and NAPA’s role in the industry. READ MORE

By Fred Barstein4/17/2013 • 5 Comments

Now that most plan sponsors (and even a few participants) understand how providers get paid, revenue sharing is an acceptable way for fund firms to pass along to participants the cost of record keeping and administration, as well as some advisory services, in the form of Sub TA and 12b-1 fees. The question now is whether each participant should be charged the same fee. READ MORE

By NAPA Net Staff4/12/2013 • 1 Comments

According to the team at Drinker Biddle, plan advisors have an opportunity to help their clients with a Form 5500 reporting wrinkle that may catch plan sponsors and plan committees, in their roles as ERISA administrative fiduciaries, off-guard. Here’s the wrinkle: Failure to obtain the required disclosures under ERISA Section 408(b)(2) results in prohibited transactions that must be reported on the form. READ MORE

By NAPA Net Staff4/10/2013 • 2 Comments

In a move that’s sure to raise concern among advisors, BrightScope is set to release a database that compares fees from RIA ADV forms available to the public on advisors’ websites. While the information is currently public, the fees are found in text, not set apart in tables, which can make it hard for a consumer to decipher them. BrightScope is putting that fee information, along with disciplinary actions and other info about registered reps and IARs, into a database that makes it easy for investors to compare fees and look up complete information about the advisor from multiple public databases. READ MORE

By NAPA Net Staff4/9/2013 • 1 Comments

Public Television’s “Frontline” is the latest media outlet set to attack 401(k) plans and IRAs. In a preview of “The “Retirement Gamble,” a program set to air April 23, 401(k) plans are characterized as a scam and a way for Wall Street to enrich itself at the expense of plan participants. READ MORE

By NAPA Net Staff4/2/2013 • 0 Comments

When legal experts look at a central element of your business model and compare the possible future to past events like airline deregulation and tobacco and asbestos industry settlements, things are not exactly looking good. A recent Retirement Income Journal article touches on these themes in exploring the likely impact of the rising tide of lawsuits over allegedly excessive fees charged to 401(k) participants. READ MORE

By NAPA Net Staff3/29/2013 • 0 Comments

According to recent research by Hearts & Wallets, the best way for advice providers to build trust with clients is to help them to understand how they get paid. With over half of investors thinking that they’re getting ripped off and only 19% fully trusting their advisor — a number that’s down from 24% in 2010 — building trust is a key factor in closing and retaining clients, as well as cross selling. READ MORE

By NAPA Net Staff3/26/2013 • 0 Comments

ERISA expert Fred Reish notes that the DOL recently levied a $1.266 million fine on an adviser providing fiduciary advice for a fee that also received 12b-1 fees from the mutual funds they recommended, claiming it was a prohibited transaction. The DOL, which is starting to get a better understanding of fees paid to broker dealers and RIAs, also claimed that by taking undisclosed compensation, the advisor is setting its own compensation, becoming a de facto fiduciary and using that status for its own benefit. READ MORE

By NAPA Net Staff3/18/2013 • 0 Comments

For most entrepreneurs, their largest asset is themselves and their business. Many neglect to save enough, thinking that they will be able to sell their thriving businesses when they retire. But recent research by SEI shows that 69% of advisors don’t have a succession plan and 39% have no idea who the buyer would be. Of those advisors with a plan, 61% cited an “unidentified or outside buyer” as the potential successor. READ MORE

By NAPA Net Staff3/15/2013 • 1 Comments

While the debate about whether advisors should be selling proprietary funds seems to be all but over, with many broker dealers like Merrill Lynch and Morgan Stanley selling off their asset management groups, Alicia Munnell has used the debate to question whether IRAs and 401(k) plans should be forced to sell index funds only. The debate about pushing proprietary funds was restarted with a New York Times report that JP Morgan Advisors are being pushed to sell house products. READ MORE

By NAPA Net Staff3/12/2013 • 1 Comments

More than six months after 401(k) participants were given explicit information about the fees they pay, has their knowledge changed much? According to research from LIMRA, the answer is yes and no. READ MORE

By NAPA Net Staff3/12/2013 • 0 Comments

Are advisors charging enough for their services? The answer is no, according to a panel of broker-dealers executives leading a discussion at the NAPA/ASPPA 401(k) Summit last week in Las Vegas. To begin with, price competition is driving advisor fees down. As Pat Rieck of Morgan Stanley Smith Barney LLC, recounted: “I often have conversations with advisors, where they’ll say, ‘Here’s the average fee, and I’m below that.’” READ MORE

By NAPA Net Staff3/7/2013 • 1 Comments

Now that the DOL’s fee disclosure regulations have been in effect for about a year, the conventional wisdom is that for the most part, the participant notices were ignored. Sam Brandwein of Morgan Stanley Wealth Management is taking a longer view in judging the effectiveness of the rules. When looked at from the perspective of whether plan sponsors and participants have changed their behavior, “the rules will be a game-changer – eventually,” Brandwein told a workshop audience at the 2013 NAPA/ASPPA 401(k) Summit in Las Vegas this week. READ MORE

«« First |1 2 3 4 5 6 7 ... 33 34 35 36 37 38 | Last ››