It’s no secret that most of NAPA’s 4,000 members enrolled as part of NAPA’s relationships with its Firm Partners. What’s pleasing too is that NAPA has also attracted hundreds of individual plan advisors to join NAPA on their own. Here’s an interesting profile of those individual plan advisors that provides some insight into the types of advisors NAPA is attracting:
Plan AUM
$10-$50 million: 20%
$50-$100 million: 13%
+$100 million: 56%
Plans Under Management
10-25: 29%
26-100: 35%
+100: 21%
While it’s gratifying that NAPA is attracting experienced plan advisors, it’s equally important that less experienced advisors looking to build and expand their plan business have deemed it important to join. If the profession of advisors working with participant directed, corporate retirement plans — or so-called “plan advisors” — is in fact a real profession, those advisors need their own organization that represents their interests in Washington and provides opportunities to connect and learn.
As part of the ASPPA family, NAPA is fortunate to be able to bring these benefits to plan advisors through ASPPA’s deep lobbying resources and ability to mobilize the press as evidenced by the “Save My 401k” campaign; the industry’s largest conference, now named the “NAPA/ASPPA 401(k) SUMMIT” scheduled for March 3-5, 2013 in Las Vegas; and now NAPA Net and the Daily. We hope you will take the time to join if you have not already done so. Help support our efforts and let regulators and Congress know that we have a voice and something important to say.
