The NAPA 401(k) Summit has gone digital—we know you’re looking forward to that experience. Day 2 (September 10) of the Cyber Summit has a distinct focus—and a reader wins a free registration to check it all out!
We’ve all had to learn how to do things differently, and different things over the past several months—and while the 2020 “Cyber” Summit will be different—it’s also going to be exactly what you’ve come to expect in terms of information, insights, and yes—interaction.
We’ve mentioned previously that we’d be conducting the Cyber Summit over three days—starting each day at noon ET and running till (approximately) 5 pm ET (with breaks).
Each day of the Cyber Summit has a theme; Day 1 is focused on Building Your Practice, Day 2 is all about Building Your Bottom Line, and Day 3 is Focused on the Future.
Last week we asked you to weigh in on our Day 1 sessions—and to submit questions that you’d like these outstanding sessions to address. This week, we turn to Your Bottom Line!
Session Selections
Forced to choose between these Day 2 sessions (and we know it’s tough):
In the 12:00 pm—12:50 pm ET workshop slot, readers opted for:
59% - Win When: Felix Exitus or Success-a-Rama (a.k.a. Measuring Success)
41% - “Troubles” Talk: Are Your Clients an Audit Target?
And we got some great questions from readers, like:
- Are audits random or is there something the plan sponsor reports (on the 5500 or through self-correction) that make them more likely targets? Are companies that merge plans more likely to be audited?
- What are some appropriate systems that any firm can implement to measure effectiveness?
- What can you do to set up your client not to be audited?
- What are key metrics for measuring success? What type of scale, both number of plans and assets, make for a viable business model?
- What are the top three ways an advisor can increase a plan sponsor’s awareness of paying attention to their plan?
Session(s) Two
In the 1:05 pm—1:55 pm ET workshop slot, readers opted for:
53% - Prudent “Mien”: Proving Prudence and Participant Loyalty—A Plan Committee Defends Itself
47% - “C,” Sweet: Starting (and Ending) a Successful Executive Benefits Conversation
With questions to be answered like:
- Uncomplicate these complicated solutions... what's an ideal candidate and which clients should you not approach?
- What are the best practices for recording the events/decisions of the meetings?
- What are the most effective executive benefits to attract and keep the good executives?
- What are you doing to overcome committee apathy?
Session(s) Three
In the 2:25 pm—3:15 pm ET workshop slot, readers opted for:
58% - “Small” Business: Keeping an Eye on the Bottom Line in the Small Plan Market
42% - “Wrong” Headed: What’s Wrong with Wellness?
With questions from readers like:
- With this being a buzzword these days, do you educate your clients on what the term actually means and help them achieve an overall wellness program for their employees?
- What is the most effective way to get participants engaged in a financial wellness plan?
- What have you done and how are you staying in front of your small business clients to educate them through recent current events (CARES Act, market volatility, employee financial education)?
- How can you best service these clients and maintain a profit margin?
As for the 3:30 pm—4:20 pm ET workshop slot, readers opted for:
42% - Start “Spark”: How SECURE Could Stoke Your Start-Up Business
58% - “Out” Takes: The Outcomes for Retirement Income
Questions included:
- What will guaranteed retirement income options look like?
- Is it a myth that you can’t make money on start-ups? What do you need recordkeepers to do/have in place in order to help you achieve success and profitability in the start-up/small market?
- Lifetime income options are given support in the SECURE Act. Do you see this option moving down market to smaller plans? What type of plan sponsor is a good candidate for this option?
- What issues have “so far” led to less adoption of Retirement Income programs? This was a hot topic after the financial crisis, but when the markets returned to strength, the demand for RET income solutions lost momentum.
- What great ideas have come out of SECURE for generating new clients?
- Can start-up business afford the benefits to start and maintain retirement benefit programs for employees given the lack of economic scale?
And You Won’t Want to Miss…
And of course, we’ll be wrapping up Day 2 with a very special appearance by none other than Marcus Luttrell, Decorated Navy SEAL and Best-Selling Author of Lone Survivor.
It’s going to be AWESOME! Thanks to everyone who participated in our weekly NAPA-Net Reader Poll - oh—and if you HAVEN’T registered yet, you need to get on over to https://napasummit.org, and do so…TODAY.
p.s. the winner of a free registration to all this awesome NAPA 401(k) Cyber Summit content is… Shelley Mau!
