2018 Annual Planning Meeting
Revisiting Scope and Essential Functions of The Retirement Plan Advisor Profession
May 21/22/23, 2018
Hosted by: SECURIAN Retirement
Meeting Objective
What is the role of a retirement plan advisor? What functions should we focus on going forward?
The Council first identified functions Professional Plan Advisors can be expected to perform in 2011. We validated the list through research. In the quest for value and differentiation, the scope of the position has expanded over the years. Many advisors now leverage their services to help sponsors contain workforce aging. Many have enhanced their service offering to help clients enhance the financial wellness of employees; the range of product solutions has expanded to include HSAs, Equity Compensation Plans, and financial wellness services.
Does it mean we should expand the essential functions of a plan advisor? Plan sponsor observations at the 2018 semi-annual meeting suggests a slight disjoint between what advisors would like their role to be moving forward, and the services plan sponsors value from their retirement advisor. At the 2018, Annual Planning Meeting, we will stir lively discussions between advisors, plan sponsors, providers, investment managers, and suppliers of solutions to the industry with the ultimate goal of refining the set of retirement plan services (essential and nice to have), and value.
- What do advisors deliver today?
- What do plan sponsors want?
- What do advisors need to deliver today to be in sync with plan sponsor demand?
- What resources can providers and investment firms provide?
- What is the role of data access in delivering needed services?
- What services are priorities, and which are nice to have?
- Which additional or ancillary services will make advisors more valuable, and which will just add cost without value?
Venue
SECURIAN Retirement
400 Robert Street North
St. Paul, MN 55101
Dates and Times
Monday, May 21
| 2:00 p.m. | Transportation to Pre-event |
| 2:30 p.m. | Pre-Event Volunteer Project - Feed My Starving Children Feed My Starving Children 990 Lone Oak Road Suite 136 Eagan, MN 55121 |
| 6:00 p.m. | Sponsored Pre-event dinner at PUBLIC kitchen & bar |
Tuesday, May 22
| 8:00 a.m. | Continental Breakfast Buffet |
| 8:30 a.m. | Opening and Goals and Objectives |
| Achievement Room | |
| Meeting Planning Committee Co-chairs - Mike Gouldin - Gouldin & McCarthy and Steve Smith - VALIC | |
| 8:45 a.m. | Welcome |
| Achievement Room | |
| Steven J. Chappell RPA, AIF National Sales Vice President - Retirement Plans Securian Retirement |
|
| 9:00 a.m. | Evolution of Plan Sponsor Views on The Functions of a Retirement Plan Advisor |
| Achievement Room | |
| Presenter: Eric Henon, Executive Director | |
| 9:45 a.m. | Refreshment Break |
| 10:00 a.m. | Thought-provoking Breakout Sessions - Functions of a Plan Advisor: Plan Sponsor Services |
| Tough questions from your peers will keep you on your toes and help you stay ahead. | |
| Small Plans (Plan assets under $30 million) Leadership Room Moderator Amber Harms - ADP Retirement |
|
| Mid-sized Plans (Plan assets between $30 million and $300 million) Ingenuity Room Moderator: Eric Garofalo - Principal Financial Group |
|
| Large and Jumbo Plans (Plan assets over $300 million) Partnership Room Moderator: Taylor Garlesky - Charles Schwab Retirement Plan Services |
|
| 11:00 a.m. | Privacy and Security Issues Facing Qualified Retirement Plans |
| At this session, we will discuss a new role emerging for advisors, in the area of privacy and data security. Cybersecurity issues that already affect other sectors of the financial services industry are beginning to affect retirement plans. Cybercriminal’s ability to access confidential information is a serious concern. Plan sponsors and their fiduciary advisors must exercise prudence as they discharge duties to a wide array of third-party providers (recordkeeper, TPA, financial wellness providers, payroll providers). Participant behaviors and lax file exchange practices also expose plan sponsors and their advisors to business risk and fiduciary liability. Simultaneously, the evolution of the regulatory landscape and growing litigation expose fiduciary advisors to increased risk. Platform providers’ exemption of the DOL fiduciary rule, the ruling of the fifth circuit court in Chamber of Commerce et al. vs. U.S. Department of Labor vacating the rule, and increased financial pressure forcing service providers to pursue after-market strategies make the current environment more challenging for fiduciary advisors. | |
| Achievement Room | |
| Theodore Schmelzle, JD, CIPP Director, Plan Sponsor Services SECURIAN Retirement |
|
| 12:15 p.m. | Luncheon - sponsored by SECURIAN Retirement |
| Atrium - Plaza Level | |
| 1:00 p.m. | The Moving Litigation Frontier |
| Plaintiff and defendant attorneys discuss emerging trends in retirement plan litigation - with a focus on plan advisors | |
| Achievement Room | |
| Moderator: Michael Webb, CEBS Cammack Retirement Group Panelists: Att. Brian T. Ortelere, Morgan, Lewis & Bockius LLP Att. Christopher Boran, Morgan, Lewis & Bockius, LLP Att. Kai Richter, Nichols Kaster, LLP |
|
| 2:00 p.m. | Disruptors and Innovation |
| Achievement Room | |
|
Moderator: Troy Redstone - PHD. Consulting |
|
| 3:00 p.m. | Refreshment Break |
| 3:15 p.m. | How Advisors Select Tools To Perform the Essential Functions of the Plan Advisor Profession |
| Achievement Room | |
| Moderator Joe Mrozek - Lincoln Financial Group | |
| Panelists: Bo Bohanan – Institutional Fiduciary Solutions - Raymond James Michael M. Kane CLU ChFC AIFA CPFA – Plan Sponsor Consultants David M. Kulchar, AIF® - Oswald Financial Ken Waineo – The Standard |
|
| 4:15 p.m. | Does the Scope of the Retirement Plan Advisor Function Need to be Redefined? |
| Breakout Session Take-aways - Functions of the Plan Advisor - Plan SponsorServices | |
| Achievement Room | |
| Moderator: George Revoir - John Hancock Retirement Plan Services Panelists: Robert Massa ChFC CEBS AIF CPFA - Qualified Plan Advisors James D, Robison - White Oak Advisors Scott Sides - The Sides Group at RBC Wealth Management |
|
| 5:15 p.m. | Adjourn |
| Walk to CHS Field | |
| 6:00 p.m. | Sponsored Event Dinner and Game at CHS Field (Securian Suite) |
Wednesday, May 23
| 7:30 a.m. | Continental Breakfast Buffet |
| 8:00 a.m. | Plan Sponsor Perspective: The Value of a Professional Retirement Plan Advisor |
| Moderator: Joseph Connell AIFA®, QPFC, CRPS®, RF™ Partner and Retirement Plan Fiduciary Advisor Sikich Retirement Plan Services |
|
| Panelists: Plan Sponsors TBA | |
| 9:00 a.m. | Thought Provoking Breakout Sessions - Functions of a Plan Advisor: Participant Services |
| Tough questions from your peers will keep you on your toes and help you stay ahead. | |
| Small Plans (Plan assets under $30 million) Leadership Room Moderator Sharon Schmid - Robert W. Baird & Co. |
|
| Mid-sized Plans (Plan assets between $30 million and $300 million) Ingenuity Room Moderator: Chris Phillips - CUNA Mutual |
|
| Large and Jumbo Plans (Plan assets over $300 million) Partnership Room Moderator: Tom Grogan - TIAA |
|
| 10:00 a.m. | Refreshment Break |
| 10:15 a.m. | Does the Scope of the Retirement Plan Advisor Function Need to be Redefined? |
| Breakout Session Take-aways - Functions of the Plan Advisor - Participant Services | |
| Achievement Room | |
| Moderator: Marcela Curry Panelists: John B. Abeyta CRPS® - The Abeyta Bueche & Sanders Group of Morgan Stanley Wealth Management Richard M. Sotell CFP® - The Kraematon Group Melissa Cowan - Morgan Stanley |
|
| 10:45 a.m. | Action Steps for the Council |
| 11:15 a.m. | Adjourn and Transportaton to the airport |
Hotel / Transportation
DoubleTree by Hilton Hotel St. Paul Downtown
411 Minnesota Street
St. Paul, MN 55101
For reservations, contact Council staff Kate Connole
