PLANADVISER - November/December 2021 - 18
managing relationships / cover story
EARLY LAST YEAR, Ron Lehmann,
vice president of retirement plan
services at Johnson Financial Group
in Madison, Wisconsin, says, his firm's
business model was very hands-on. Frequent
in-person fiduciary administration meetings with
plan sponsors and one-on-one financial sessions with
plan participants were the norm.
When the coronavirus hit, and operations went fully remote, the
18-person retirement plan services unit had to overhaul nearly all of
its procedures to continue meeting the needs of its clients. Nearly two
years later, employees have settled into a hybrid work schedule, each week
dividing the days between the office and home.
That transition required a relatively quick adoption of tech tools to
facilitate remote collaboration, a shift that Lehmann says has made the
firm more flexible and efficient.
As plan advisers across the country adapted their practices to meet the
challenges wrought by the pandemic, they leaned heavily on technology
to smooth the transition. Technology has infiltrated nearly every aspect of
advisers' business, and many say the way they do business will never be
the same.
A Vestwell survey in October found that a whopping 85% of plan
advisers say that, because of the past year, they place a greater emphasis
on the technology they use to run their business.
18 | planadviser.com November-December 2021 Art by Ryan Peltier
in
the
Shift
Landsca
The pandemic forces advisers to rethink their
business models and integrate technology
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PLANADVISER - November/December 2021
Table of Contents for the Digital Edition of PLANADVISER - November/December 2021
A Shift in the Tech Landscape
Strength in Diversity
Future Faces
A Workforce in Flux
Fee Models Are Shifting
Nonenforcement Policies
‘Window’ of Opportunity
PLANADVISER - November/December 2021 - Cover1
PLANADVISER - November/December 2021 - Cover2
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PLANADVISER - November/December 2021 - A Shift in the Tech Landscape
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PLANADVISER - November/December 2021 - 23
PLANADVISER - November/December 2021 - Strength in Diversity
PLANADVISER - November/December 2021 - 25
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PLANADVISER - November/December 2021 - 27
PLANADVISER - November/December 2021 - 28
PLANADVISER - November/December 2021 - 29
PLANADVISER - November/December 2021 - Future Faces
PLANADVISER - November/December 2021 - 31
PLANADVISER - November/December 2021 - 32
PLANADVISER - November/December 2021 - 33
PLANADVISER - November/December 2021 - A Workforce in Flux
PLANADVISER - November/December 2021 - 35
PLANADVISER - November/December 2021 - Fee Models Are Shifting
PLANADVISER - November/December 2021 - 37
PLANADVISER - November/December 2021 - Nonenforcement Policies
PLANADVISER - November/December 2021 - ‘Window’ of Opportunity
PLANADVISER - November/December 2021 - 40
PLANADVISER - November/December 2021 - Cover3
PLANADVISER - November/December 2021 - Cover4
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