PLANADVISER - July/August 2019 - 10

practice development
The Word
About
Newsletters
E
lectronic newsletters are a popular,
easy, inexpensive way to
convey a message, be it news,
education or to just say: " We want to
connect. " Many retirement plan sponsors
issue them monthly or quarterly,
to educate participants on the value
of their plan and investing, as well
as to build a relationship with them.
The medium is particularly helpful
for advisers to large plans who cannot
reach out to each participant. Some
advisers even use them to communicate
to sponsor clients.
Adviser firms can create such
newsletters on their own or turn to an
outside service for content. Spectrum
Investment Advisors has produced
newsletters for participants for the
past 15 years, says Manual Rosado,
vice president and partner with the
practice, in Mequon, Wisconsin.
" It's all about education, " Rosado
says. " We want to educate participants
and sponsors and provide a level of
confidence in our firm as experts on
the market and retirement. "
The newsletters Spectrum creates
cover three basic areas. The first is a
market update, written by Jim Marshall,
president, and Jonathan Marshall, chief
investment officer (CIO). Second, one of
the practice's wealth managers writes
on investing topics such as rebalancing
one's account or what to do when the
market becomes volatile, Rosado says.
Finally, a Spectrum administrative
assistants writes, in clear and straightforward
language, a section covering
more basic investing topics such as
streamlining your portfolio. " It's called
'In Other Words' and is designed so that
the average employee can relate to it if
the [second] section is over their head, "
Rosado says. For instance, it may
discuss rebalancing, more simply.
" We want to educate participants
and sponsors and provide a level
of confidence in our firm as experts
on the market and retirement. "
As another client service, Spectrum
hosts coffeehouse seminars, and then
it summarizes the discussions in the
plan sponsor's newsletter. Additionally,
when the market is volatile, the practice
distributes a special issue to keep
participants focused on their longterm
goals and committed to their
allocations, Rosado says.
Like many other advisers that issue
newsletters for participants, Spectrum
forwards them to the client to distribute.
Thus, Rosado does not know what the
" open rate " is. However, the ones Spectrum
sends to its wealth management
clients typically get a 50% open rate,
which is quite high, he observes.
Based on the client, advisers should
send them a newsletter twice a year to
as often as monthly, says Mike Lynch,
vice president,
strategic markets at
Hartford Funds in Charlotte, North
Carolina. The key is keeping the
content relevant to participants. For
the most part, he says, " they want to
be educated and connected to tools and
resources " that will help them improve
their retirement outlook.
" Newsletters show your value-that
you care and are involved, " Lynch says.
Wintrust Wealth Management has
taken such stock in newsletters that
it writes one for participants monthly
plus an occasional one for sponsors,
says Dan Peluse, director of retirement
plan services at the practice in Chicago.
For content, Wintrust turns to its RPAG
porting tool. " It's sometimes difficult
getting meetings with our plan sponsor
clients, " Peluse says. " These newsletters
create peace of mind among our
clients that we're on top of regulatory
issues, and, often, they motivate our
clients to reach out to us. "
The participant newsletters cover
a plethora of investing topics. " This
broadens our relationship with the
participants and helps them think of
us as a financial coach, " he says.
-Lee Barney
10 | planadviser.com July-August 2019
Art by Polly Becker
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PLANADVISER - July/August 2019

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