Industry Insight from Fred Barstein

At the risk of sounding repetitive, there has never been a better time for experienced retirement advisors focused on the Defined Contribution (DC) market. Though there are many challenges that come with growth, more plan sponsors than ever are looking for advisors that can help not just because of fiduciary concerns, but also because they realize that their employees absolutely need access to a trained professional advisor.

Advisors who are pressing their advantage, rather than just sitting back and letting the business come to them, will benefit that much more in tougher economic times. Those professionals who can demonstrate the expertise, knowledge and ability to “move the needle” in helping participants prepare for retirement will elevate their practice as well.

One of the biggest issues for the professional retirement plan advisor is to be able to differentiate and quantifiably identify themselves to plan sponsors as true experts in their field as determined by a credible 3^rd party. To this end, there are two important upcoming initiatives we recommend. Recently, The 401kWire announced a program to identify and recognize, the 300 Most Influential Advisors in Defined Contribution. In a limited amount of time and with little fanfare, almost 2,000 advisors have been nominated. Advisors that register will have the opportunity to receive votes from colleagues and industry professionals. The 401kWire advisor list, just as it did for the 100 Most Influential people in DC, will go a long way towards accomplishing that goal.

Secondly, those recognized as the Top 300 along with nominees will be invited to the DCPI (Defined Contribution Plan) conference, being held Dec 6^th –8^th, at the PGA National Resort and Spa in Palm Beach Gardens Florida. This “by invitation only” event, brings the most successful advisors together to teach each other how to move the needle on their practices with key industry experts like Professor Benartzi from UCLA explaining how advisors can practically incorporate behavioral finance techniques that he pioneered, many of which were incorporated in the Pension protection Act. DCPI also includes compelling advisor panels with participation from industry leading professionals, record keepers and investment managers focused on the DC market. The conference is also an opportunity to learn more about how 401kExchange helps advisors to build, grow and manage their business. As a true outsourced partner, our goal is to enable advisors to spend more time with prospects and clients.

Whether you are nominated or ultimately make the 401kWires 300 Most Influential Advisors in Defined Contribution list, we strongly encourage interested advisors to accept our invitation to attend DCPI and learn how to move the needle on your retirement practice.