PLANADVISER - March/April 2018 - 4

intro
Par Excellence
I
n this issue, we showcase the 2018 PLANSPONSOR
Retirement Plan Adviser of the
Year finalists and winners in four categories:
individual, small team, large team and
mega team (page 24). These exceptional retirement
plan practices and individuals stand
out for many reasons. All are forward-looking
and embrace best practices, early and often.
We feature accompanying Q&As with them,
online at PLANADVISER.com/RPAY2018, and I
encourage you to check them out.
With the number of lawsuits waged against
Winning Strategies for Retirement Plan Advisers
March-April 2018 | planadviser.com | $30
2018
PLANSPONSOR
retirement plans rising each year, we thought it
would be valuable to take a deep dive into how
advisers can help their clients avoid litigation and, if sued, be in a position of
strength to win the case. " Battling the Elements " (page 40) makes it unequivocally
clear that advisers need to help plan sponsors determine their fiduciary,
and the retirement plan committee's, responsibilities and be able to show
they've thought through any processes for making decisions about the plan
and have documented each in great detail.
What some in the industry are calling " hybrid qualified default investment
RETIREMENT
PLAN ADVISER
OF THE YEAR
alternatives (QDIAs) " are only starting to be introduced by a few firms, but
they may be worth investigating. " A QDIA in Transition " (page 48) explores
how hybrid QDIAs work: by starting participants off in a target-date fund
(TDF) and then moving them into a managed account as they get closer to
retirement, say at age 50. Proponents say managed accounts offer more benefits
than TDFs by taking into consideration a person's complete assets and
risk tolerance, and are most valuable for those engaged with their plan-as
participants tend to be when approaching retirement.
The industry has seen plan sponsors' interest in working with 3(38) fiduciaries
rise in recent years. What retirement plan advisers might not realize
is they need not shoulder the 3(38) burden themselves. " Taking on Discretion "
(page 44) reveals that advisers may have 3(38) services available to them at
the home office-and that it is possible to outsource those services from a
third-party provider.
With the majority of businesses in the U.S. being small businesses, and
the plurality of retirement plans being small and micro plans, many advisers
may find themselves working with small companies. " Working Down-Market "
(page 50) outlines the services that plans with less than $5 million in assets
most commonly seek-fiduciary support, plan design insight and participant
education-and how advisers serving the micro-plan market can do so profitably.
Most commonly, advisers say, they start off with a flat fee, clearly delineate
their services from the get-go and leverage visits to the plan sponsor by
scheduling as many meetings as possible.
In Client Communications, a new department that we debut in this issue,
we start off with " Retirement Income Options " (page 52), which stresses that
decumulation of assets is far more complex than accumulation and reveals
that while the people in the retirement planning industry increasingly talk
about such options, few plan sponsors offer them. Certainly, participants may
be leery of retiring if they don't believe they have a solid retirement income
plan-leaving the sponsor at risk of having too many older workers.
We hope you find these stories interesting and that they lead your practice
into new, profitable areas. -Lee Barney, Managing Editor
editor-in-chief: Alison Cooke Mintzer
Alison.Mintzer@strategic-i.com
creative director: SooJin Chun Buzelli, svp
SooJin.Buzelli@strategic-i.com
managing editor: Lee Barney
Lee.Barney@strategic-i.com
deputy editor, planadviser.com: John Manganaro
John.Manganaro@strategic-i.com
editorial staff: Judy Faust Hartnett, Rebecca Moore,
Amanda Umpierrez, Karen Wittwer
contributors: Corie Hengst, John Keefe, Judy Ward
surveys & research: Quinn Keeler, svp;
Brian O'Keefe, Jackie Scott
design & production: Lynn Connelly, Chris Kwon,
Claire Merchlinsky, Tiffany Pai, Micky Walls
design contributor: Cherese Rambaldi
art contributors: Julie Benbassat, Samuel Berenfield,
Tim Bower, Matt Kalinowski, Nick Little, Sarah Mazzetti,
Paige Mehrer, Tim Peacock, Dadu Shin, Jing Wei,
Ellie Ji Yang, JooHee Yoon (cover), Virginia Zamora
head of media sales: Katie Bacon, vp
Katie.Bacon@strategic-i.com
online & digital products: Paul Zampitella, vp
Paul.Zampitella@strategic-i.com
advertising sales: Meighan McGowan,
Bill Murray, Lisa Reilly
global sales administrator: Anthony Groccia
conferences: Carol Popkins, vp;
Katie Campbell, Ana-Alyse Castelluccio,
Melissa Groccia, Lucille Velander
global controller: Younes Ismael-Aguirre
accounting operations: Abeer Abu-Issa, Mayrillane
Bahi, Ruth Fissaha, Doreen Fucci, Kristin Keeler,
Ricky Kostik, Karen Kurtz, Vivian Panton,
Harris Weinstein
chief technology officer: Phil Herzog
development director: Justin Hoffman
technology operations: Stephen Dennis, Ray Lucibello,
Bhakti Patel, Jigar Patel, Dexter Reaves,
Stephen Widom
custom media program manager: Drew Donaldson,
Drew.Donaldson@strategic-i.com
reprints: Michelle Judkins 203-595-3276
Michelle.Judkins@strategic-i.com
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chief content officer: Tony White
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PLANADVISER - March/April 2018

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