PLANADVISER - November/December 2019 - 25

2019 PLANADVISER Practice Benchmarking Survey
BUILT
Retirement plan advisers weigh in on the
foundations of good practice management
s retirement plan adviser specialists draw up their business plans for 2020,
the vast majority are planning for growth. A full three-quarters of those
responding to our 2019 PLANADVISER Practice Benchmarking Survey said
they expect 401(k) plans to spark most of that growth. Just 51% of advisers made
that projection, last year. Whether the increase reflects optimism for the expansion
of multiple employer plans (MEPs), or for something else that might drive plan sponsors
to seek their specialist expertise, is unclear. But it is likely that such growth will
owe much to their building on current relationships, as 93% of new clients are found
through referrals.
This year, we saw a large jump in advisers offering individual advice or wealth
services-to 80% from 62% last year. And participant advice/education was cited by
29% of advisers as the most significant projected growth area for their practice next
year. Health savings account (HSA) consulting services has also seen wide adoption.
More than one-third (36%) of advisers surveyed said they currently offer such
services, while another 47% said they plan to.
Of note this year was an increase in the number of advisers stating they are
registered investment advisers (RIAs) only. While last year, 23% of advisers were
solely RIAs and 27% were hybrid/dually registered advisers, this year those groups
were 39% and 22%, respectively. Wirehouse and independent broker/dealers (B/
Ds) each lost 3 percentage points, down to 25% and 9% in this year's sample size.
Also, about half of the adviser sample are affiliated with a defined contribution (DC)
aggregator firm. These numbers would seem to align with our editorial coverage of
movement in the advisory space.
One factor that has often been said to drive those transitions-whether the
adviser pursues fee-for-service opportunities as an RIA, has joined an aggregator,
or both-is the power of affiliation for expanding an adviser's business and broadening
the services he can offer.
Art by Lars Leetaru
From the Ground
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PLANADVISER - November/December 2019

Table of Contents for the Digital Edition of PLANADVISER - November/December 2019

Foul Weather Fund
2019 PLANADVISER Practice Benchmarking Survey
Streamlining the Process
To Surmount the Gender Gap
NQDC Guidance
Employee-Owned
Continued Growth
The Extent of Obligation
Cyberfraud
How to Protect Participant Data
PLANADVISER - November/December 2019 - C1
PLANADVISER - November/December 2019 - FC1
PLANADVISER - November/December 2019 - FC2
PLANADVISER - November/December 2019 - C2
PLANADVISER - November/December 2019 - 1
PLANADVISER - November/December 2019 - 2
PLANADVISER - November/December 2019 - 3
PLANADVISER - November/December 2019 - 4
PLANADVISER - November/December 2019 - 5
PLANADVISER - November/December 2019 - 6
PLANADVISER - November/December 2019 - 7
PLANADVISER - November/December 2019 - 8
PLANADVISER - November/December 2019 - 9
PLANADVISER - November/December 2019 - 10
PLANADVISER - November/December 2019 - 11
PLANADVISER - November/December 2019 - 12
PLANADVISER - November/December 2019 - 13
PLANADVISER - November/December 2019 - 14
PLANADVISER - November/December 2019 - 15
PLANADVISER - November/December 2019 - 16
PLANADVISER - November/December 2019 - 17
PLANADVISER - November/December 2019 - Foul Weather Fund
PLANADVISER - November/December 2019 - 19
PLANADVISER - November/December 2019 - 20
PLANADVISER - November/December 2019 - 21
PLANADVISER - November/December 2019 - 22
PLANADVISER - November/December 2019 - 23
PLANADVISER - November/December 2019 - 2019 PLANADVISER Practice Benchmarking Survey
PLANADVISER - November/December 2019 - 25
PLANADVISER - November/December 2019 - 26
PLANADVISER - November/December 2019 - 27
PLANADVISER - November/December 2019 - 28
PLANADVISER - November/December 2019 - 29
PLANADVISER - November/December 2019 - 30
PLANADVISER - November/December 2019 - 31
PLANADVISER - November/December 2019 - Streamlining the Process
PLANADVISER - November/December 2019 - 33
PLANADVISER - November/December 2019 - 34
PLANADVISER - November/December 2019 - 35
PLANADVISER - November/December 2019 - To Surmount the Gender Gap
PLANADVISER - November/December 2019 - 37
PLANADVISER - November/December 2019 - NQDC Guidance
PLANADVISER - November/December 2019 - 39
PLANADVISER - November/December 2019 - 40
PLANADVISER - November/December 2019 - 41
PLANADVISER - November/December 2019 - Employee-Owned
PLANADVISER - November/December 2019 - 43
PLANADVISER - November/December 2019 - Continued Growth
PLANADVISER - November/December 2019 - 45
PLANADVISER - November/December 2019 - The Extent of Obligation
PLANADVISER - November/December 2019 - Cyberfraud
PLANADVISER - November/December 2019 - How to Protect Participant Data
PLANADVISER - November/December 2019 - C3
PLANADVISER - November/December 2019 - C4
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