The NAPA 401(k) Summit has gone digital—we know you’re looking forward to that experience. This week, we gave readers a chance to weigh in on ESG vs. Cybersecurity, Gen X Insights vs. Top Tips, and PEPs vs. Future Practice(s)…
We’ve mentioned previously that we’d be spreading 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 this week—we’re looking ahead to Day 3, where we’re Focused on the Future.
Day 3 kicks off at noon ET—and asked to choose between those sessions, NAPA-Net Readers opted for:
53% - Social “Standing”: What About ESG?
Is it just a fad or are there facts (and financials) to support it? The SEC has honed in on ESG disclosures, the EBSA is sending out probing letters to plan sponsors, and the DOL’s recently proposed rule are all percolating even as many participants, plan sponsors, politicians—and advisors—are taking note of environmental, social and governance (ESG) issues. Come hear about the fast-paced changes around ESG—and get prepared to tackle those tough questions.
47% - “Stop” Gaps: Fending Off the Hackers
A recent FINRA report cautions that “While many firms have made significant improvements in their cybersecurity programs, cybersecurity attacks continue to increase in both number and level of sophistication.” How can you protect your—and your plan sponsor’s—data—and how do your partners’ security protocols stack up against the hackers?
And we got some great questions for these presentations like:
- What’s the real risk of offering even if DOL decides to “pick on” ESG—disqualification, litigation target, etc.?
- Where are we in this discussion today, and how likely is a DOL final ruling?
- How do you balance principles and diversification? Should ESG assessments be absolute or relative?
- What tools to you use to screen for ESG?
Then at 1:05 pm ET, we’ll be offering (and NAPA-Net readers said they’d be checking out):
33% - Generation Hexed?: Defusing the Financial Time Bomb of Gen X
Like no modern generational cohort, Gen X is hitting its prime earnings years squeezed between the financial pressures of aging parents and college debt-laden children. Often overlooked in retirement planning, this first 401(k) generation has a unique set of challenges—and your practice can benefit from a unique set of effective strategies to not only engage Gen X, but to help this “forgotten” generation get on track.
67% - “Top” Tips: Rising to the Top in the Race to the Bottom
Amidst continued pressures on fee and service, the most successful advisors have excelled at highlighting those essential, but sometimes intangible elements that help them stand out from the competition. Everyone loses in the “race to the bottom”—learn how to win by putting more value into your value proposition.
And some reader questions like:
- Can you talk more about the advisor’s role to conduct 3rd party vendor/solution RFPs for solutions that will help Gen X?
- Gen X, Y, and Z have all experienced or are experiencing a much more difficult time to purchase a house than their parents; what trends and tips should we be aware of when looking at how people forgo retirement savings or borrow from retirement to purchase a house?
- What is the future of standing out in the crowd?
- Given less travel and onsite service delivery and costs-associated, are advisors considering cost reductions?
- I’d like for them to address whether they think it's a prohibited transaction from ERISA to discount your 401k fees by considering the revenue you'll get from employees as wealth clients.
And then at 2:25 p.m. ET:
52% - Future “Tense?”: The Retirement Plan Practice of the Future
What will your practice look like a decade from now? How might shifts in regulation, legislation, demographics, technology, and the market’s influence not only what you do, but how you do it? Your practice of the future has to be constructed for scale, and it will take a team effort across the industry. Learn how to get in on the evolution now…
48% - “PEP” Talk: Making the Most of Open MEPs
At long last, the SECURE Act has opened the door to “open” multiple employer plans. The question now is—does that present opportunity—or threat—to your practice. Two of the industry’s thought leaders will walk you through what’s new, what’s different, what’s not, and what you should do now.
With reader questions like:
- For advisors offering PEPs, are they partnering with one RK provider or several? Point to examples of success.
- Is there an exemption from the prohibited transaction role that needs to be implemented?
- What’s the right way to build a practice and how do you get firm leadership on board?
- What should we be doing now to make us more valuable in 10 years from now? I would hate to be climbing the ladder for 10 years only to find out it was leaning on the wrong building!
- What does a graceful exit look like?
And, as many readers commented when forced to make a choice: “I want to attend both presentations.”
Oh—and we’ll wrap things up with some inspiring thoughts from Dominick Quartuccio, who’ll not only help you “design your future,” but also deal with questions like:
- What do you do to pull yourself out of a slump?
- Go back to the beginning of your career. What is the one thing you wish the You back then would get?
- Do you believe companies should support the idea of allowing key management to take sabbaticals to “recharge” themselves? Is there any one specific moment in your life that caused you to change the trajectory of your future?
- What should you look for in a mentor to help propel you on your journey of success? Along those same lines, how do you work well as a mentee, or be a good mentor to others?
Thanks to everyone who has participated in our weekly NAPA-Net Reader Poll! And congratulations to Jennifer Mulrooney of American Century, who wins a FREE Cyber Summit Registration!
Oh—and if you HAVEN’T registered yet, you need to get on over to https://napasummit.org, and do so… TODAY.
