Great interaction and even better information flowed from the Las Vegas Strip last month as Excel 401(k): The Advisors’ Conference hit Caesar’s Palace for two days of sessions and speakers dedicated to the retirement plan space, as well as the sponsors and participants whom they serve.
Billed as a conference of advisors for advisors, the agenda was heavy on practice growth, fiduciary responsibility and participant outcomes.
The latter was the focus bright and early on the morning of day one. The celebration and recognition of the 12 “Top Advisor By Participant Outcomes (TAPO)” recipients brought an energetic an inspiring air to the conference kickoff.
Sponsored by J.P. Morgan Asset Management, the TAPO ceremony provided a bit of suspense as Alex Assaley, Managing Principal and the Lead Advisor for Retirement Plans with AFS 401(k) Retirement Services, was named the overall 2018 TAPO recipient.
J.P. Morgan’s innovative “Let’s solve it” campaign is dedicated to assisting advisors with their most pressing challenges. It presented a natural synergy, as participant outcomes are one of the premier challenges with which 401(k) advisors, sponsors and participants currently wrestle.
“J.P. Morgan Asset Management is proud to have sponsored this year’s TAPO program—congratulations to the winner and all finalists who share our mission of getting participants over the retirement finish line,” the company said. “These advisors have shown an unparalleled commitment to participant outcomes, a commitment we share as an award-winning retirement solutions provider.”
Lada Eng, Vice President and Retirement Business Director for the Southwest Region with J.P. Morgan Asset Management, joined 401(k) Specialist editor-in-chief John Sullivan on the main stage to introduce the TAPO recipients and describe the company’s innovation in the space.
“At J.P. Morgan, we are dedicated to helping our advisors work with their participants for successful retirement outcomes,” Eng told attendees. “Whether that’s leveraging our 10-plus years of participant behavior research that goes into our J. P. Morgan SmartRetirement Funds, our Target Date Compass report, our plan sponsor and participant surveys, and all of our tools and resources, we are dedicated to helping you help your clients.”
It was off and running from there with up to 30 breakout sessions per day, led by a wide array of industry-leading talent like Rebecca Hourihan, Thomas Clark, Don Trone, Patrick Delaney, Brent Hines and Jamie Greenleaf (to name very few).
401k marketing guru Hourihan of (what else?) 401(k) Marketing presented “How to Gain Recognition as a 401k Expert and Rise Above Your Competition” Monday, October 29.
Through an interactive exercise, attendees could assess their current marketing strategy and learn actionable ways to enhance their business.
After lunch, Clark, partner at the Wagner Law Group, addressed the ongoing surge in 401k lawsuits in his talk “ERISA Litigation Against Advisors—Case Studies and How to Prepare.”
Co-founder and CEO of 3ethos, Trone, was up next with “Are Great Advisors Born, or Made?”
Trone dove deep into the neurological and psychological factors that may greatly impact the quality of a retirement advisor’s decision-making processes.
After hard work and long hours, the first day wrapped with a reception on the Omnia Rooftop, where revelers could gaze at the Bellagio fountains while enjoying bites and bevs that were as impressive as the view.
Day 2 saw Kevin Murphy, senior vice president and head of strategic accounts with Franklin Templeton Investments, discuss all that’s happening with health savings accounts, and how advisors can more effectively incorporate them into their suite offerings.
Kimberly Shaw, newly appointed general counsel and chief compliance officer of Sheridan Road Financial, discussed the (ugh) fiduciary rule, noting that whatever ultimately happens at the DOL or SEC, there are best practices that were prompted by the rule that should have been on advisors’ must-do list all along.
For instance, the practice of outlining services provided by the advisor to the client in an itemized list is a critical element of fiduciary compliance that was heightened by the rule. But it’s a helpful practice period.
And Jason Roberts, CEO of Pension Resource Institute (PRI) and partner at Retirement Law Group, spoke about differentiation strategies during his quick chat entitled “Enhancing Client Retention & Prospecting through Plan Governance.”
Informed by legal considerations, PRI developed an educational 10-step guide, dubbed G-MAP (or Model Administrative Procedures). It’s designed to be used as an actionable framework to systematically make plan-related decisions and document the processes.
“It’s all about the process,” Roberts said. “You don’t have to be perfect. You just have to be prudent.”
All-in-all, a great conference that received high marks, with organizers, attendees, partners and exhibitors looking forward to next year at the Gaylord Texan, October 27 – 29, 2019.
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.
