PLANADVISER - September/October 2019 - 41

O
ne adviser stressed the importance
of making sure plan
sponsors and their committee
members understand what annuities
are and that there is no one solution
for all plans. Other advisers have
worked to recruit the next generation
by taking the job of the adviser out of
one defined box and elaborating on the
many roles they play.
These are just two examples of
lessons attendees learned at this year's
PLANADVISER National Conference
(PANC), held in Orlando, Florida, in
September. For three days, industry
experts discussed topics such as these
inspired by the conference theme:
" Contagious Ideas: It's all about the
outcomes. "
Many of the conference speakers
were PLANADVISER TOP 100 Advisers
and PLANSPONSOR Retirement Plan
Advisers of the Year, who responded to
audience questions about their practices,
client services, team structure,
and whatever else people cared to
ask. Subscribing to the growing movement
among American companies to
acknowledge their corporate social
responsibility (CSR), many advisers
told us how they have consciously set
out to define a community service role
as part of their adviser culture. -PS
Risk Management for Advisers
Moderator: Alison Cooke Mintzer, editorin-chief,
PLANADVISER. Panelists: Jamie
Fleckner, partner with Goodwin Procter
and chairman of the firm's Employee
Retirement Income Security Act (ERISA)
litigation practice, and Rhonda Prussack,
senior vice president and head of fiduciary
and employment practices liability at Berkshire
Hathaway Specialty Insurance.
Asked for an overview of recent
action in ERISA lawsuits, Jamie
Fleckner said the wave of litigation
unfortunately just keeps coming.
" It's been now almost 20 years of
evolution in this space, " he noted.
" These lawsuits really began back
when Enron collapsed-that was the
initial trigger, in some sense. The litigation
first focused on the offering of
nondiversified company stock. Then,
in 2006 or 2007, we started seeing
suits about the diversified investments
as well. "
As Fleckner and Rhonda Prussack
observed, the suits initially targeted
plans with $1 billion or more in assets,
but, over the years, the size of the plan
sponsors being sued has diminished
significantly.
" There are now more than 15 firms
that are zooming into this area, including
some traditional securities litigators,
Prussack said. " These other firms
are very happy to have a payday of even
several hundred thousand dollars. "
" Hopefully, one result of the rush
of new firms entering the space will
be that the trial judges realize many
of them don't really know what they're
doing, " Fleckner said. " We've seen this
Art by Uijung Kim planadviser.com September-October 2019 | 41

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PLANADVISER - September/October 2019

Table of Contents for the Digital Edition of PLANADVISER - September/October 2019

Addressing Profitability
2019 PLANADVISER Retirement Plan Adviser Survey
2019 PLANADVISER National Conference
Is Fixed Income Working?
The Health Savings Alphabet
SEC Issues Proxy Guidance
Class Certification
An 'IPS' Sets The Standard
PLANADVISER - September/October 2019 - Cover1
PLANADVISER - September/October 2019 - Cover2
PLANADVISER - September/October 2019 - 1
PLANADVISER - September/October 2019 - 2
PLANADVISER - September/October 2019 - 3
PLANADVISER - September/October 2019 - 4
PLANADVISER - September/October 2019 - 5
PLANADVISER - September/October 2019 - 6
PLANADVISER - September/October 2019 - 7
PLANADVISER - September/October 2019 - 8
PLANADVISER - September/October 2019 - 9
PLANADVISER - September/October 2019 - 10
PLANADVISER - September/October 2019 - 11
PLANADVISER - September/October 2019 - 12
PLANADVISER - September/October 2019 - 13
PLANADVISER - September/October 2019 - 14
PLANADVISER - September/October 2019 - 15
PLANADVISER - September/October 2019 - 16
PLANADVISER - September/October 2019 - 17
PLANADVISER - September/October 2019 - 18
PLANADVISER - September/October 2019 - 19
PLANADVISER - September/October 2019 - Addressing Profitability
PLANADVISER - September/October 2019 - 21
PLANADVISER - September/October 2019 - 22
PLANADVISER - September/October 2019 - 23
PLANADVISER - September/October 2019 - 24
PLANADVISER - September/October 2019 - 25
PLANADVISER - September/October 2019 - 26
PLANADVISER - September/October 2019 - 27
PLANADVISER - September/October 2019 - 2019 PLANADVISER Retirement Plan Adviser Survey
PLANADVISER - September/October 2019 - 29
PLANADVISER - September/October 2019 - 30
PLANADVISER - September/October 2019 - 31
PLANADVISER - September/October 2019 - 32
PLANADVISER - September/October 2019 - 33
PLANADVISER - September/October 2019 - 34
PLANADVISER - September/October 2019 - 35
PLANADVISER - September/October 2019 - 36
PLANADVISER - September/October 2019 - 37
PLANADVISER - September/October 2019 - 38
PLANADVISER - September/October 2019 - 39
PLANADVISER - September/October 2019 - 2019 PLANADVISER National Conference
PLANADVISER - September/October 2019 - 41
PLANADVISER - September/October 2019 - 42
PLANADVISER - September/October 2019 - 43
PLANADVISER - September/October 2019 - 44
PLANADVISER - September/October 2019 - 45
PLANADVISER - September/October 2019 - 46
PLANADVISER - September/October 2019 - 47
PLANADVISER - September/October 2019 - Is Fixed Income Working?
PLANADVISER - September/October 2019 - 49
PLANADVISER - September/October 2019 - The Health Savings Alphabet
PLANADVISER - September/October 2019 - 51
PLANADVISER - September/October 2019 - 52
PLANADVISER - September/October 2019 - 53
PLANADVISER - September/October 2019 - SEC Issues Proxy Guidance
PLANADVISER - September/October 2019 - Class Certification
PLANADVISER - September/October 2019 - An 'IPS' Sets The Standard
PLANADVISER - September/October 2019 - Cover3
PLANADVISER - September/October 2019 - Cover4
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