NAPA 401(k) Summit Topic Tug-of-War—Week #4

More than 15,000 votes have been received to date on potential topics for the 2022 NAPA 401(k) Summit—here’s your (last) chance to weigh in on these—and a new set of topics titled “Team Esprit.”

As a reminder, we’ve got the location (Tampa Bay, Florida), the dates (April 3-5), and we’ve (already) begun working through a list of exciting keynote speakers, and, yes—making plans for Summit “After Dark.” Oh—and you can sign up for updates at https://napasummit.org.

Which brings us to that amazing, compelling, and innovative agenda that starts with you—you help set the framework for the NAPA 401(k) Summit agenda—by voting on the topic(s) you’d most like to be on that agenda! We use a unique mechanism to suss out our topics, after all—one replete with its own dynamic logarithm—and, of course your perspectives in a “cage match” format. 

The list is a living thing—it works like a topics “cage match” of sorts. You’re presented with two different session topics—they rotate—all you have to do is pick your favorite or add your own idea for others to vote on. Then you’ll get two more choices—vote or add one of your own. If you don’t like either of the suggestions (though that’s not likely)—there’s even an option for that. Every time you suggest an idea, it’s added to the pool of ideas that others vote on.

Check out our last group of voting topics—Team Esprit (about team building and development) at http://www.allourideas.org/2022teamespirit

As for our other topics—where are we now?

Practice(s) Management

As of Oct. 29, the top 10 topics are:

1. How are advisors handling fiduciary duties and management of details for their 401(k) clients? (#6 a week ago!)
2. How to Run Your Practice More Effectively and Efficiently. (up from #4)
3. Earning Your “Keep”: Value added services to avoid sticker shock of advisor fees            (tumbling from #1)
4. Reframing Your Value Around Client Goals (down from #2)
5. How to Develop/Determine A Reasonable Fee for Your Services (up from #8)
6. Coupling Education With Plan Design To Drive Improved Participant Outcomes (down from #5)
7. Round “About”: Ensuring you get to round 2 of the RFP process (down from #3)
8. Designing a Retirement Plan Within a Total Rewards Comp & Benefits Strategy (up from #10)
9. What Are the Daily Habits and Behaviors of the Most Successful Advisers? (up from #11)
10. How do managed accounts help plan sponsors? (brand new to the top 10!)

Business Development(s)

As of Oct. 29, the top 10 topics in this category are:

1. Compensation Trends, Compliance and different revenue streams from managed accounts, rollovers, etc. (holding steady at #1!)
2. As clear as the nose on your face—trends you’re completely overlooking (still holding on to #2 position!)
3. How to open doors; How to win a plan with no advisor; How to win larger plans; How to use LinkedIn to grow your business (yes, still at #3)
4. What the IRS and DOL Continue To Target With Your Clients’ Plans (up from #5)
5. What will a virtual/hybrid environment mean for fees/fee compression (no in-person meetings)—down from #4)
6. Driving positive participant outcomes through personalization (up from #6)
7. Trends in ESG investing in the broader financial markets vs. in 401(k)s. (breaking into the top 10 for the first time!)
8. PEPs successes, failures and trends (another new entrant to the top 10)
9. Retirement Income: How To Navigate the Investment Choices & Have Conversations with Plan Sponsors (holding steady at #9)   
10. Evolution of financial wellness to “financial engagement”: Why fin wellness programs have not delivered on promises (down from #7)

While dropping out of the top 15 were Plan Sponsor Perspectives, (Much) More Than 401(K), More Than Nudges—Behavioral Finance 2.0, Lessons Learned From Litigation, and Cybersecurity: the Labor Department has furnished questions—but what are the “right” answers?

Remember you can (still) weigh in at http://www.allourideas.org/2022bizdevelopment.

Products ‘Set’

As of Oct. 29, the top 10 topics in this category are:

1. Things we hate about youPlan Sponsor confessions about their retirement plan advisors (while arguably not about products/services, per se—holding steady at #1 again)
2. Why everybody wants—and nobody takes—in-plan retirement income options (still holding at #2)
3. Managed Accounts—Just an Expensive Target-Date Fund? (up from #4)
4. The Fad Of Financial Wellness (down from #3)
5. Rollover Realities (up from $6)
6. Industry trends—being prepared for what’s next (down from #5)
7. Retirement Income Solutions (up from #10)
8. In-Plan Spend-down Solutions (down from #7 after a big climb from #10 the week before)
9. Building the ROI Case for Financial Wellness (down from #8)      
10. Pooled Employer Plans—An Advisor Advantage or a Threat to Your Business? (new to the top 10)

Dropped out of the top 10 was Will Technology Make Target Date Funds Obsolete?

REMEMBER: You can (still) weigh in at http://www.allourideas.org/productset

And we’ll give you an update on Friday!