“It’s the cream of the crop, the crème de la crème,” Nevin Adams said with a bit of French flair.
He was responding to a question about this year’s NAPA 401(k) Summit, and was so enthusiastic we had no time to hit record before he launched into his answer.
“We had 1,300 attendees and 400 advisors at the 401(k) Summit in 2015,” the National Association of Plan Advisors’ chief content officer noted of its growth in just the few years of his tenure. “Last year we had 2,100 attendees of which 1,100 were advisors, which is an impressive jump.”
This year’s 401(k) Summit, held at Caesars Palace Las Vegas, April 7 – 9, 2019, is continuing the upward trajectory, albeit responsibly.
“When you grow too fast, you sometimes sacrifice quality, but that isn’t the case with us.”
Adams also referenced an all-too-familiar conference scenario; plenty of vendors, few advisors.
“The problem with many conferences is that vendors outnumber the advisors. The vendors don’t want to just sit and talk to each other and advisors don’t want to just be pitched all day long. We’ve not only maintained the advisor/vendor ratio, we’ve significantly expanded it.”
But it’s not without challenges, and Adams specifically mentioned issues with the size of the breakout sessions and the “dynamics” of a group as large as the 401(k) Summit.
It’s one reason the conference’s steering committee is so “plugged in,” and plays a central role not only in vetting high-level speakers, but “owning” specific sessions.
“We also feature our Young Guns (top advisors under age 40), Top Women Advisors and advisors from the Top DC Teams, so we know quality advisors will be there.”
Since NAPA and the American Retirement Association—its parent—are industry advocacy organizations, regulations and the “cray-cray” coming out of Washington are of course a major focus.
“You also get a lot of specific information about what’s happening from a regulatory standpoint—but more importantly—what to do about it.”
Which is one of the Summit’s core missions, to fund advocacy efforts on behalf of advisors and the issues they face.
And, of course, there’s the big after-hours event, Summit After Dark, which involves a bit of strategic planning as well.
“At other events, you’ll usually have some drinks, circle the exhibit hall floor and eat some heavy hors d’oeuvres. But after that, if you aren’t on a preferential list of players, you’re left out, and even if you are on everyone’s dance card, you can only be in so many places at once. If you’re focused on networking, Summit ‘After Dark’ has literally transformed the concept into a true advisor ‘experience’ that brings everyone together.”
Not that the activities detract from the experience.
“We start early the next morning and, believe it or not, that energy from the night before carries over.”
Adams actually refers to it as the retirement plan advisor convention.
“It’s not a subset of the industry, it is the industry.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
