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This Week on NAPA Net

Highlights of our posts and commentary on NAPA Net the week of April 22 included: Defending the Industry • Advisors who focus on or lead with the fact that they are fiduciaries can actually destroy trust, says Michael Kitces. • We haven't been focusing enough on the critical value proposition the industry provides, according to Brian Graff. NAPA Network The new NAPA Network video channel features a handful of on-demand videos featuring industry thought leaders like Don Trone, Marc Robinson, Jania Stout and Michael Coehlo and Tom Daugherty, as well as the well-received “Make an Impact” video screened at the 401(k) Summit last month. Trends and Research • Participants in 401(k)s tend to pay less for their mutual funds than the average investor, according to the ICI. • An ASPPA study revealed that 71% of the tax benefit from DC plans goes to people with an AGI of less than $150,000. Voices • Encourage do-it-yourself participants to be forward-thinking and invest in a more globalized future, urges Portal Conductor Kathleen Beichert of Oppenheimer. • Portal Conductor Nevin Adams of EBRI reflects on the provisions in President Obama’s FY 2014 budget affecting retirement plans. Service ProvidersING has set its stock price at $21-$24 per share when it rebrands to Voya. Clients and Prospects • Do financial disclosures contribute to declines in the quality of the products and advice investors receive? • Portal Conductor John Carl’s Case of the Week examined the IRS’ role as a creditor of plan assets. • A good checklist for fiduciaries for monitoring investments, including a separate list for TDFs. • Steve Parrish outlines how small businesses can maximize the retirement benefits they offer.

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