Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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Compass
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Bates & Company, Inc.
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AimPoint Pension
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Press Release Plan Retention, Cybersecurity, Fee Compression Top Advisor Concerns |
Issued by National Association of Plan Advisors [NAPA] Oct. 8, 2019 |
Advisors looking for more information on HSAs, MEPs, and Financial Wellness ARLINGTON, VA (October 8, 2019) – A poll of more than 500 of the nation’s leading retirement plan advisors provides remarkable insights on practice management, future trends, and so-called “hot” topics that are over-hyped. While there was no shortage of big issues on which to focus, “client retention” loomed largest for the NAPA Summit Insider respondents – in fact, even larger this year than a year ago. Thirty-five percent of respondents ranked this issue as “very important.” This year’s strong second concern was cybersecurity, noted as a very important consideration by 35%. While fee compression was the second concern in 2018, in this year’s survey it fell to third place with 23% ranking this issue as “very important.” The responses to the second annual NAPA Summit Insider came from more than 500 retirement plan advisors who attended the 2019 NAPA 401(k) Summit this past April. The NAPA 401(k) Summit is the nation’s largest gathering of retirement plan-focused advisors. Other key findings include:
“The challenges outlined in this year’s Summit Insider are real, consistent and yet, dynamic- as is to be expected in an industry as complex and critical, as this one, said Nevin Adams, Chief Content Officer of the American Retirement Association, and Editor-in-Chief of NAPA-Net. The 531 respondents to the 2019 Summit Insider poll were identified as retirement plan advisor attendees at the NAPA 401(k) Summit. They represented a wide range of experience levels and market focuses. They tended to be experienced; more than half had at least 15 years of experience, and half of that group had in excess of two decades of experience. Summit Insiders also served a wide range of target markets. Roughly a third (30%) focused on plans with less than $5 million in assets, but respondents ran the gamut in terms of their focus, up to and including those who served plans with more than $1 billion in plan assets. To receive a copy of the 2019 NAPA 401(k) Summit Insider or to connect with Chief Content Officer Nevin Adams about the Summit Insider’s findings, email Elisse.Rodriguez@lowecom.com. The 2020 NAPA 401(k) Summit will be in Orlando, Florida April 26-28, 2020. More information is at www.napasummit.org. About NAPA More information about NAPA is available at napa-net.org. BL:hh |
View More Press Releases by National Association of Plan Advisors [NAPA]
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