PLANADVISER - November/December 2017 - 46

2017 PLANADVISER Practice Benchmarking Survey
Our definitive annual report on how
retirement plan advisers run their practices
PEER
A
s a retirement plan specialist, do you think the field
is increasingly competitive? Are you concerned about
fee compression or an industry race to the bottom?
How do you measure profitability and success? If you
struggle with any of these questions, you are far from alone.
When you think about your biggest challenges and opportunities,
how you measure plan success, and what services
you offer to your clients, it helps to know how your peers
approach these crucial topics. Asked what the top concerns
were facing their practice today, advisers responding to our
2017 PLANADVISER Practice Benchmarking Survey overwhelmingly
cited fee compression, with 40% saying this is a
source of unease, up markedly from 34% in 2016.
Robert Kieckhefer, managing partner in The Kieckhefer
Group in Milwaukee, says he is not surprised this is a
lingering worry for advisers. " Fee compression will continue
because it is one thing a plan sponsor can measure and be
held accountable for by the Department of Labor [DOL], "
Kieckhefer says. However, he is somewhat optimistic that
advisers can put the brakes on this trend by " showing
their value to plan sponsors, working more efficiently " and
shifting some administrative tasks to the home office or
recordkeepers.
The survey also found that advisers' other concerns are
adding new clients (cited by 32%), practice management (by
30%), competition/practice differentiation (by 28%), government
regulation (by 24%) and staffing (by 23%). Conversely,
it is very encouraging that only 4% are worried about the
overall economy and 14%, about client retention.
When it comes to the area of their practice where
they expect the most growth in the coming 12 months,
responses were, again, in line with last year's survey, with
53% saying 401(k) plans and 40% saying fiduciary services
or referrals, respectively. For all of the talk about retirement
income, a mere 7% think this will give a boost to
their business in the near term, and, perhaps because of
the current popularity and pervasiveness of target-date
funds (TDFs), only 7% cite them.
46 | planadviser.com november-december 2017
Art by Lisk Feng
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PLANADVISER - November/December 2017

Table of Contents for the Digital Edition of PLANADVISER - November/December 2017

The Next Step
2017 PLANADVISER National Conference
2017 Practice Benchmarking Survey
Aggressive Plan Design
Professional Groups
The Value of Fixed Income
PLANADVISER - November/December 2017 - C1
PLANADVISER - November/December 2017 - FC1
PLANADVISER - November/December 2017 - FC2
PLANADVISER - November/December 2017 - C2
PLANADVISER - November/December 2017 - 1
PLANADVISER - November/December 2017 - 2
PLANADVISER - November/December 2017 - 3
PLANADVISER - November/December 2017 - 4
PLANADVISER - November/December 2017 - 5
PLANADVISER - November/December 2017 - 6
PLANADVISER - November/December 2017 - 7
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PLANADVISER - November/December 2017 - 12
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PLANADVISER - November/December 2017 - 21
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PLANADVISER - November/December 2017 - 26
PLANADVISER - November/December 2017 - 27
PLANADVISER - November/December 2017 - 28
PLANADVISER - November/December 2017 - 29
PLANADVISER - November/December 2017 - The Next Step
PLANADVISER - November/December 2017 - 31
PLANADVISER - November/December 2017 - 32
PLANADVISER - November/December 2017 - 33
PLANADVISER - November/December 2017 - 2017 PLANADVISER National Conference
PLANADVISER - November/December 2017 - 35
PLANADVISER - November/December 2017 - 36
PLANADVISER - November/December 2017 - 37
PLANADVISER - November/December 2017 - 38
PLANADVISER - November/December 2017 - 39
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PLANADVISER - November/December 2017 - 43
PLANADVISER - November/December 2017 - 44
PLANADVISER - November/December 2017 - 45
PLANADVISER - November/December 2017 - 2017 Practice Benchmarking Survey
PLANADVISER - November/December 2017 - 47
PLANADVISER - November/December 2017 - 48
PLANADVISER - November/December 2017 - 49
PLANADVISER - November/December 2017 - 50
PLANADVISER - November/December 2017 - 51
PLANADVISER - November/December 2017 - 52
PLANADVISER - November/December 2017 - 53
PLANADVISER - November/December 2017 - Aggressive Plan Design
PLANADVISER - November/December 2017 - 55
PLANADVISER - November/December 2017 - 56
PLANADVISER - November/December 2017 - Professional Groups
PLANADVISER - November/December 2017 - 58
PLANADVISER - November/December 2017 - 59
PLANADVISER - November/December 2017 - The Value of Fixed Income
PLANADVISER - November/December 2017 - 61
PLANADVISER - November/December 2017 - 62
PLANADVISER - November/December 2017 - 63
PLANADVISER - November/December 2017 - 64
PLANADVISER - November/December 2017 - C3
PLANADVISER - November/December 2017 - C4
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