Would Fee-Based Retirement Plan Business Work for You?

Posted by Derenig Kostikian

January 24, 2018 at 1:30 PM

The past few years have brought a shift toward fee-based retirement plan business, fueled in part by the Department of Labor’s Conflict of Interest Rule. As a result, some advisors have decided to accept some fiduciary responsibility and charge a fee to manage qualified plans—with the goal of remaining competitive in the retirement plan space.

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Topics: Retirement Consulting

How to Avoid Common Roth IRA Pitfalls

Posted by Mike Clifford

January 23, 2018 at 10:00 AM

As a financial advisor, you know the Roth IRA provides a number of benefits to clients saving for retirement, including tax-free growth, no required minimum distributions for those age 70½ and older, and the option to continue contributions beyond the age of 70½ (if income is still being earned). But in order for your clients to reap these benefits, it’s essential that you maintain an understanding of the rules of Roth IRA contributions, as there are a number of penalties your clients could face if their accounts are not carefully monitored. Below, I will discuss two common Roth IRA pitfalls, as well as how best to avoid them.

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Topics: Retirement Consulting

Boost the Profitability of Your Retirement Plan Business

Posted by Dan Collins

December 6, 2017 at 1:30 PM

When I was a kid, I transformed my basement into a haunted house and charged the neighborhood kids a 50-cent entrance fee. The goal? To earn enough to buy a new street hockey stick. It was fantastic—complete with scary costumes and decorations and “Monster Mash” playing in the background. But it wasn’t profitable. I earned a measly $1.50. Where did I go wrong? I poured most of my resources into the aesthetics without giving much thought to critical factors like my time and effort and finding customers.

Like my younger self, you may be missing opportunities to boost the profitability of your retirement plan business. Here’s how to identify some of the barriers to your success—and how to overcome them.

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Topics: Retirement Consulting

Leverage a TPA to Improve Your Retirement Plan Business

Posted by John Peters, CFP, AIF, PPC

December 5, 2017 at 10:00 AM

The retirement plan industry has seen a torrent of regulatory changes, shifts in business owner and plan sponsor expectations, an ever-increasing reliance on technology, and a race to the bottom on fees. Every financial advisor trying to make inroads in this space could use support, and if you’re not looking to your third-party administrator (TPA) relationships for that support, I think you’re overlooking a critical strategy to improve your retirement plan business.

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Topics: Retirement Consulting

Retirement Savings Strategies for Clients with Small Businesses

Posted by Sheryll Yee

November 8, 2017 at 1:30 PM

Discussing retirement savings strategies for clients with small businesses can be challenging. After all, there are many things to consider, including cost, tax implications, personal retirement savings goals, and maintenance. But by familiarizing yourself with the various plan options, you’ll be better equipped to assist your clients in making the best retirement savings decisions—for themselves and for their employees. Plus, being a go-to retirement expert just might lead to opportunities for your own business, such as gaining access to centers of influence, increasing your market audience, and possibly obtaining client referrals.

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Topics: Retirement Consulting

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