Practice Management

Practice Management focuses on how to successfully and profitably run an advisory practice, including topics like client services, financial reporting, capital investments, hiring and managing people and integrating vendor partners, as well as the nuts and bolts of the business, like insurance and risk management.



Practice Management

Practice Management

By John Iekel8/4/2014 • 0 Comments

The SEC adopted new rules affecting the $2.6 trillion money market industry late in July. The purpose of the rules is to alert investors about the risk of investments that were thought to be guaranteed, and they impose floating net asset value like other mutual funds rather than a fixed $1 value. In MarketBeat, Fred Barstein notes that the rules will apply only to funds institutions hold, and also discusses more about what the rules mean.  READ MORE

By John Iekel7/29/2014 • 0 Comments

A plan sponsor has many investment options it can make available to plan participants. Should the plan offer funds that are invested in stable value or mid cap growth funds? Emerging markets? Real estate investment funds? Target date funds? But there is something else a plan sponsor can keep in mind. In MarketBeat, Earle Allen posits the notion that a plan sponsor also should consider whether it will offer funds that are invested in companies that act with a social conscience.    READ MORE

By John Iekel7/28/2014 • 0 Comments

Defined benefit plans’ decline and a proportional rise of future retirees’ need for expert help in establishing and managing retirement accounts spelled growth for the financial services industry. But the market may be saturated — there are many advisors, but the universe of clients is flat or shrinking.  READ MORE

By John Ortman7/16/2014 • 0 Comments

Are graft and fraud the next big thing for state pension plans? An industry segment already beset by massive underfunding, bankruptcy court proceedings and other litigation, politics and pension envy doesn’t need any more bad news. But that may be exactly what it gets.  READ MORE

By John Iekel6/30/2014 • 0 Comments

In nearly half of the states, state pension benefits have changed —  often in a way that reduces them. This not only hurts retirement accounts and income, it also heightens a sense of urgency in boosting participation in 403(b)s and 457(b)s in order to bolster employees’ savings. One of the ways to do that, writes Ellie Lowder in MarketBeat, is to focus on employees’ financial literacy.  READ MORE

By John Iekel6/25/2014 • 0 Comments

That’s the specific — and implied — message of three experts offering their take on how to increase plan participation. TSA Consulting VP Steve Banks, Hendershot Financial Group’s Tom Hendershot and Teresa Ward, Retirement Plans VP at OppenheimerFunds, made their remarks to attendees at a June 23 session of the NTSA 403(b) Summit in Washington, D.C. READ MORE

By John Iekel6/10/2014 • 0 Comments

Many sobering reports have been issued regarding the degree to which U.S. workers are preparing — or not — for retirement. The Bipartisan Policy Center’s (BPC) Personal Savings Initiative (PSI) may not be the first effort that seeks to help turn the tide of poor savings rates, but it has heft and features a far-reaching and ongoing discussion of the problem and ways to address it.  READ MORE

By John Iekel6/10/2014 • 0 Comments

The U.S. Supreme Court issued its decision in U.S. v. Windsor — in which it said that retirement plans must treat a same-sex spouse just they would any other spouse for purposes of benefits under the retirement plan — one year ago, on June 26, 2013. That makes this an opportune time for Ellie Lowder in MarketBeat to review some of the latest guidance that implements the Court’s ruling and with which you must comply. 


By John Iekel5/6/2014 • 0 Comments

The funded status of public- and private-sector pension plans is a classic example of bad news/good news. To wit: Some states’ pensions are in bad shape, but funding of public-sector pension plans overall is improving; corporate pensions’ funded status fell in April, but only very slightly.  READ MORE

By John Iekel5/3/2014 • 0 Comments

There are things you should do — and not do — in using social media. And it’s especially complicated for those in the retirement plan industry, since social media communications must comply with the rules promulgated by regulatory bodies and others. Join us for an upcoming webcast, “Realities of Social Media in a Regulated Industry,” on Thursday, May 15 from 2 p.m. to 3 p.m. EDT. 


By John Iekel4/14/2014 • 0 Comments

It’s now easier for plan sponsors and employers to participate in the 403(b) pre-approved plan program.  April 14 was the effective date of IRS Revenue Procedure (Rev. Proc.) 2014-28. The new guidance modifies guidance the IRS issued last year, Rev. Proc. 2013-22, to make it easier for a person to qualify as a pre-approved 403(b) plan sponsor and as a mass submitter.


By Ronald Triche4/12/2014 • 0 Comments

The IRS, in Notice 2014-19 and related FAQs, says clearly that retirement plans — including 403(b) plans — have to recognize same-gender spouses and spells out how. The notice and FAQs, which the IRS issued April 4, are a follow-up on Revenue Ruling (Rev. Rul.) 2013-17, which provided general guidance on the tax implications of the Supreme Court’s decision in U.S. v. Windsor (the DOMA case). READ MORE

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