PLANADVISER - Winter 2023 - 2

Publisher's Note //
publisher: Alison Cooke Mintzer
Future State
creative director: SooJin Buzelli
t's nearing the end of 2023-and, as per usual this
time of year, I find myself reflecting on where time has
gone. In working on this issue and cover story with
Judy Faust Hartnett, our print editor, we were reflecting
on what a pivotal time the past few years have been in
the retirement plan industry and the advisory industry,
especially for you at the juncture of the two.
The retirement plan space in particular tends to see
huge change based on regulations-and the past few
years, it seems, have seen more monumental changes than usual. While, yes,
retirement reform is usually bipartisan and gets done even when other bills
and initiatives stall, you usually see some breathing room between substantial
bills. Since 2019, the Setting Every Community Up for Retirement Enhancement
Act, the CARES [Coronavirus Aid, Relief and Economic Security] Act, and
then SECURE 2.0 in 2022 have given the retirement plan industry much to work
on as far as driving plan changes and improvements-all in quick succession.
Advisers are also contending with regulatory efforts: the revised fiduciary
rule-now called the Retirement Security rule-changes to Securities and
Exchange Commission marketing rules, and more.
These legislative and regulatory changes accompany issues in the advisory
industry itself, such as dealing with its aging population and need to recruit
younger team members; significant merger and acquisition activity; and new
competition for plan sponsor and participant attention.
For advisers, I see this as a time resembling the post-Pension Protection
Act years, when there was dramatic change in how plan advisers worked with
clients-e.g., widening their services in plan design, along with those in investments.
Some advisers, after the PPA, worried they'd become obsolete if everything
could be automated, and we've luckily seen that is not the case.
So here we are at a new inflection point. What does the plan adviser look like
in the future? I don't know but am excited to watch this space-as I do know
there will be more than one model.
I think the core investment menu will remain important from a fiduciary
standpoint but perhaps less so in ongoing conversations with clients. With 3(38)
services continuing to grow, and adviser firms moving those decisions to their
chief investment officer or other investment office, the client-facing advisers
may get to spend more time helping plan sponsors focus on their goals and
financial wellness-after all, without contributions and employee education,
the best investments in the world won't help participants retire.
There's also the race to gather participant assets, and I'm intrigued to watch
many firms previously without participant services or wealth management
having added those to their offerings. I expect lots of attention in coming years
on provider vs. adviser tools and support, as well as on conflicts of interest.
Perhaps most importantly, for the industry to remain successful, it has to
make itself appealing to more potential members-to work on recruitment,
notably of a diverse population-to support it in all areas, including client service,
participant wealth management, and investment reviews, among others.
As the year ends, we're also embarking on a new era for PLANADVISER's
editorial department and content. This is the last issue being printed and mailed
to you. Our team will now focus on our digital experience-you've likely seen
our relaunched website. Feedback from our readers said you prefer more video
and audio content and enjoy the long-form news we increased this year. For
2024, we'll bring you more of both, as well as expanded monthly Spotlight topics.
You can also look for a quarterly multistory in-depth series: PLANADVISER
In-Depth. We look forward to your response! -Alison Cooke Mintzer, Publisher
editor, planadviser print: Judy Faust Hartnett
editorial staff: Natalie Lin, Paul Mulholland,
Alex Ortolani, Remy Samuels, Karen Wittwer,
Jonathan Yardley, Noah Zuss
contributors: Beth Braverman, Rebecca Hourihan,
Larry Light, Ed McCarthy, Judy Ward
surveys & research: Garrett Cox, Kimberley
design & production: Donna Bien-Aimé,
Alanna Jacobs, Maria Kofman, Samantha Yu
design contributor: Cherese Rambaldi
art contributors: Chris Buzelli, Jam Dong,
Mar Hernández (cover), Aya Kakeda, Matt
Kalinowski, Klaus Kremmerz, Miriam Martincic,
Georgie McAusland, OYOW, Marc Rosenthal,
Pete Ryan
strategy & operations: Michelle Lamison;
Melissa Groccia, Rebecca Moore
commercial director: Rob Reif
advertising sales: Katie Bacon, John Bennett,
Christopher Janos, Bill Murray
conferences: Carol Popkins; Katie Campbell,
Rebecca Fahey, Lucille Velander
accounting operations: Mayrillane Bahi,
Ruth Fissaha, Ricky Kostik
technology operations: Darrell Cheng, Bhakti Patel,
Jigar Patel, Dexter Reaves
president and chief executive officer: Gary Retelny
chief financial officer: Allen Heery
PLANADVISER (ISSN 1935-9098) is published
quarterly (Spring, Summer, Fall, Winter) by
ISS STOXX (1177 Avenue of the Americas, 14th
Floor, New York, NY 10036). Standard rate
postage paid at New York, NY, and at additional
mailing rate.
postmaster: Send address changes to:
Lincolnshire, IL 60093
reproduction policy planadviser, Volume 18,
Issue 4. No part of this publication may be
reproduced or transmitted in any form without
the publisher's permission. Authorization to
photocopy items for internal or personal use,
or the internal or personal use of specific
clients, is granted by ISS STOXX, provided that
the appropriate fee is paid directly to Copyright
Clearance Center, 222 Rosewood Dr., Danvers,
MA 01923, USA. Tel: 978-750-8400. Copyright
©2023. Entire contents copyrighted.
2 | Winter 2023 | Plan Management Photography by Matt Kalinowski

PLANADVISER - Winter 2023

Table of Contents for the Digital Edition of PLANADVISER - Winter 2023

Publisher’s Note
Just the Facts
On the Move
Nuts & Bolts
What’s Next?
Best Foot Forward
2023 PLANADVISER National Conference
Cybersecurity Conference
Let It Ride
Cultivating Connections
The Risks of Custom TDFs
Managed Account Services
Be Sure They Get the Message
End Paper
PLANADVISER - Winter 2023 - Cover1
PLANADVISER - Winter 2023 - FC1
PLANADVISER - Winter 2023 - FC2
PLANADVISER - Winter 2023 - Cover2
PLANADVISER - Winter 2023 - 1
PLANADVISER - Winter 2023 - Publisher’s Note
PLANADVISER - Winter 2023 - 3
PLANADVISER - Winter 2023 - Just the Facts
PLANADVISER - Winter 2023 - 5
PLANADVISER - Winter 2023 - 6
PLANADVISER - Winter 2023 - 7
PLANADVISER - Winter 2023 - On the Move
PLANADVISER - Winter 2023 - 9
PLANADVISER - Winter 2023 - 10
PLANADVISER - Winter 2023 - 11
PLANADVISER - Winter 2023 - Nuts & Bolts
PLANADVISER - Winter 2023 - 13
PLANADVISER - Winter 2023 - What’s Next?
PLANADVISER - Winter 2023 - 15
PLANADVISER - Winter 2023 - 16
PLANADVISER - Winter 2023 - 17
PLANADVISER - Winter 2023 - 18
PLANADVISER - Winter 2023 - Best Foot Forward
PLANADVISER - Winter 2023 - 20
PLANADVISER - Winter 2023 - 21
PLANADVISER - Winter 2023 - 2023 PLANADVISER National Conference
PLANADVISER - Winter 2023 - 23
PLANADVISER - Winter 2023 - 24
PLANADVISER - Winter 2023 - 25
PLANADVISER - Winter 2023 - Cybersecurity Conference
PLANADVISER - Winter 2023 - 27
PLANADVISER - Winter 2023 - Let It Ride
PLANADVISER - Winter 2023 - 29
PLANADVISER - Winter 2023 - 30
PLANADVISER - Winter 2023 - 31
PLANADVISER - Winter 2023 - Cultivating Connections
PLANADVISER - Winter 2023 - 33
PLANADVISER - Winter 2023 - The Risks of Custom TDFs
PLANADVISER - Winter 2023 - 35
PLANADVISER - Winter 2023 - Managed Account Services
PLANADVISER - Winter 2023 - 37
PLANADVISER - Winter 2023 - People-Savvy
PLANADVISER - Winter 2023 - Be Sure They Get the Message
PLANADVISER - Winter 2023 - End Paper
PLANADVISER - Winter 2023 - Cover3
PLANADVISER - Winter 2023 - Cover4