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2018 Annual Planning Meeting

Revisiting Scope and Essential Functions of The Retirement Plan Advisor Profession

spons 2018 upMay 21/22/23, 2018

Hosted by: SECURIAN Retirement

Register

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
Panelists:  Nate Thompson - OppenheimerFunds
                  John Curry - CAPTRUST Financial Advisors
                  Elizabeth Carraro - Securian Financial

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