PLANADVISER - May/June 2018 - 4

intro
Mastering the RFP
I
n the last couple of years, the Department of
Labor (DOL) fiduciary rule-making process,
and emphasis on disclosures and due diliWinning
Strategies for Retirement Plan Advisers
ALSO:
2018
DCIO
Survey
Mastering the
RFP response
can make your
business grow
May-June 2018 | planadviser.com | $30
gence, has prompted retirement plan sponsors
to become more methodical and deliberate
about any decisions related to their plan,
including the selection of advisers. Thus, while
issuing a formal request for proposals (RFP) to
advisers once was conducted only by plans with
$50 million or more in assets, today even plans
with as little as $20 million are going through the
process. In " Outscale the Competition " (page 22),
advisers reveal that 90% of the questions in an
RFP are boilerplate. It's in the remaining 10% that
advisers can stand out from the competition.
With Sway Research projecting that defined contribution investment only
Competition
the
(DCIO) assets will command a 54% share of the retirement plan market by the
end of 2022, insight into what DCIO providers believe are their strengths and
differentiators is revealed in " Current Focus " (page 26). This complements the
2018 PLANADVISER DCIO Survey (page 30), which showcases characteristics
of the top 10 providers in that market, the products and services they supply
to advisers, and their best-selling funds.
For some investment firms, the best-selling investment is the targetdate
fund (TDF) suite. " The Retirement Purse " (page 44) examines how glide
paths of TDFs that take participants " to " or " through " retirement are much
more complex than advisers may be aware. Many TDF providers believe
that, due to behavioral risk and the increase in longevity, investors should
remain committed to TDFs in their retirement years and that these vehicles
should start them off with higher levels of equity than was thought wise in
the past.
Advisers typically look to expand their business through referrals-but
that's not the only way many retirement plan advisers have been successful.
This year's Practice Development department series (page 8) is devoted to
new revenue streams, with this issue's installment exploring health savings
accounts (HSAs). In addition to this, " Key Partnerships " (page 36) makes the
case for advisers walking participants through Social Security and retirement
tax optimization, as these topics are underdiscussed. Payroll-integrated
student loan debt repayment support is another emerging area through which
advisers can differentiate their practice.
For Spectrum Investment Advisers, part of their business development
mantra was: " If you build it, they will come " -and that has certainly rung
true. Five years ago, when constructing an office building, the company's
president, James Marshall, decided to feature a coffeehouse where Spectrum
could host educational events for sponsor clients and participants. He credits
this with tripling the company's assets to $2.2 trillion (page 48).
Because of the movement in the retirement plan advisory community
to flat fees, many advisers are also embracing " clean shares. " You may be
surprised, though, to learn in " Clean Shares' Popularity " (page 42) that, while
they generally do not have front-end load or 12b-1 revenue-sharing fees, they
can include sub-transfer agency fees or other kinds of revenue sharing.
We hope you agree that many of the ideas in this issue for how to expand
your practice are unique, and will help you successfully grow your assets.
-Lee Barney, Managing Editor
OUTSCALE
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: 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: Tim Bower, Hye Jin Chung (cover),
John Cuneo, Andrea D'Aquino, David Huang, Jenice
Kim, Doris Liou, Claire Merchlinsky, Armando Veve,
Micky Walls, Jennifer Xiao, Zaiwei Zhang
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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