Industry Insight from Fred Barstein
The 401kWire to Name the Most Influential Advisors in Defined Contribution

Currently, identifying the top Defined Contribution advisors is more of an art than a science.  Various constituents including record keepers, broker dealers, investment only providers (IO’s), TPA’s, and even database/media companies have their own lists, but none can claim to be definitive.  Leveraging on their industry accepted three year old 100 Most Influential People in Defined Contribution, The 401kWire is about to begin the process of creating the 300 Most Influential Advisors in Defined Contribution.

The entire industry will be invited to nominate as many DC advisors that they think should be considered for The 401kWire’s prestigious list - advisors will be able to nominate themselves as well as worthy colleagues.  Nominees will be sent a link to a unique site which is available only to that advisor to register information about their practice.  This information will be used to determine if they are eligible for The 401kWire’s Top 300 list.  Advisors will be evaluated based on the market segments that they focus on which include: 

1. Micro - <$5 million

2. Small - $5-$15 million

3. Mid - $15-$75 million

4. Large +$75 million

As with the 100 Most Influential People list, the industry will vote on which advisors they think are most influential.  To monitor the integrity of the voting process, voters must be registered users of The 401kWire.  All registered advisors will be given a three month free trial and non-registered voters will be afforded temporary access.

The importance of this list cannot be over emphasized.  Sponsors need to be able to reliably identify the true experts that they should hire to help them and their employees with their DC plan.  Nominated advisors eligible based on plans and assets under management will benefit even if they do not make the top 300 list.  Record keepers, IO’s, and broker dealers will want to make sure that the experienced advisors they work with get the credit they deserve.  The 401kWire is the best and most unbiased company to create this list, as they are supported primarily by subscription and with no advertising which could cause them to be swayed.  Because the list is all inclusive with no pay to play unlike other recently announced lists, all qualified advisors will be considered.

Advisors can be nominated at www.401kWireAdvisors.com/Nominations.aspx – a spreadsheet can be downloaded to nominate multiple advisors in a single step with only basic contact information required.  Advisors that register can request that their more detailed information be kept confidential.  One advisor from each market segment will be named as the Most Influential Advisor based on their contributions to the industry, and along with all of the Top 300 Advisors, they will be honored at a dinner on December 7th as part of the Fifth Annual DCP Institute to be held at PGA National in Florida.  The entire DC industry is encouraged to participate in The 401kWire’s 300 Most Influential Advisors in Defined Contribution to make sure that all deserving advisors are considered.  More importantly, participation will help the industry better support the needs of plan sponsors and participants by making sure that the best advisors are clearly identifiable and hired more often.

To ensure that the method was sound and valid and that the right advisors are considered, The 401kWire has assembled a Board of Advisors who consulted on the process of creating the List.  The Board of Advisors is comprised of senior management from the following companies:

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