PLANSPONSOR - August - September 2022 - 17
KEYPLAYER
The instrumental role an adviser
can perform to support plan sponsors
E
nsuring that a retirement plan meets the goals of the plan sponsor and its participants,
while also complying with changing regulations and remaining competitive with plans
offered by peers, is an increasingly time-consuming-and important-job.
For most plan sponsors, such demands exceed in-house capabilities, so they turn to
retirement plan advisers to assist with the process.
" If you're running a school or a factory, your passion is likely not federal compliance on
the rules of your retirement plan, " says Greg Holgate, senior vice president of sales, institutional
retirement plans, at Lincoln Financial Group in West Chester, Pennsylvania. " Why not
bring in someone who is steeped in that knowledge and has expertise in a field that can be
pretty complicated and have a fair amount of liability? "
The role plan advisers play and the tasks that sponsors ask them to take on are expanding
in scope. The increased litigation in the industry, sources say, has also elevated the adviser's
role, especially when that professional acts in a fiduciary capacity, alleviating some of the plan
sponsor's responsibility.
" The adviser has been viewed in the past as primarily monitoring and recommending
investment choices, but, in today's environment, sponsors want more than just investment
consulting, " says Richard Reed, vice president, defined contribution practice leader at Segal
in Boston. " There are a lot of moving parts with defined contribution plans, and it's very visible
to participants, so sponsors are looking for service providers who can help them. "
Fidelity's 2022 Plan Sponsor Attitudes Survey found that 85% of plan sponsors work with
an adviser and that partnering with one increases the sponsor's satisfaction that its plan is
Art by OYOW PLANSPONSOR.COM August - September 2022
17
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PLANSPONSOR - August - September 2022
Table of Contents for the Digital Edition of PLANSPONSOR - August - September 2022
INSIGHTS
INDUSTRY ANALYSIS
RULES AND REGULATIONS
UPFRONT
Key Player
Ever Vigilant
Open Season
Simplify the Experience
Connecting One-on-One
The Cost of Protection
FIDUCIARY FORUM
INSIDE ANGLE
PLAN PROFILE
PLANSPONSOR - August - September 2022 - Cover1
PLANSPONSOR - August - September 2022 - Cover2
PLANSPONSOR - August - September 2022 - 1
PLANSPONSOR - August - September 2022 - INSIGHTS
PLANSPONSOR - August - September 2022 - 3
PLANSPONSOR - August - September 2022 - INDUSTRY ANALYSIS
PLANSPONSOR - August - September 2022 - 5
PLANSPONSOR - August - September 2022 - RULES AND REGULATIONS
PLANSPONSOR - August - September 2022 - 7
PLANSPONSOR - August - September 2022 - 8
PLANSPONSOR - August - September 2022 - 9
PLANSPONSOR - August - September 2022 - UPFRONT
PLANSPONSOR - August - September 2022 - 11
PLANSPONSOR - August - September 2022 - 12
PLANSPONSOR - August - September 2022 - 13
PLANSPONSOR - August - September 2022 - 14
PLANSPONSOR - August - September 2022 - 15
PLANSPONSOR - August - September 2022 - Key Player
PLANSPONSOR - August - September 2022 - 17
PLANSPONSOR - August - September 2022 - 18
PLANSPONSOR - August - September 2022 - 19
PLANSPONSOR - August - September 2022 - 20
PLANSPONSOR - August - September 2022 - 21
PLANSPONSOR - August - September 2022 - Ever Vigilant
PLANSPONSOR - August - September 2022 - 23
PLANSPONSOR - August - September 2022 - 24
PLANSPONSOR - August - September 2022 - 25
PLANSPONSOR - August - September 2022 - 26
PLANSPONSOR - August - September 2022 - 27
PLANSPONSOR - August - September 2022 - 28
PLANSPONSOR - August - September 2022 - 29
PLANSPONSOR - August - September 2022 - Open Season
PLANSPONSOR - August - September 2022 - 31
PLANSPONSOR - August - September 2022 - Simplify the Experience
PLANSPONSOR - August - September 2022 - 33
PLANSPONSOR - August - September 2022 - Connecting One-on-One
PLANSPONSOR - August - September 2022 - 35
PLANSPONSOR - August - September 2022 - The Cost of Protection
PLANSPONSOR - August - September 2022 - 37
PLANSPONSOR - August - September 2022 - FIDUCIARY FORUM
PLANSPONSOR - August - September 2022 - INSIDE ANGLE
PLANSPONSOR - August - September 2022 - PLAN PROFILE
PLANSPONSOR - August - September 2022 - Cover3
PLANSPONSOR - August - September 2022 - Cover4
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