READER RADAR: What’s the Top Topic(s) for the 2023 NAPA 401(k) Summit?

When we say that the NAPA 401(k) Summit is built by advisors, for advisors, we mean it—and having closed out our fourth week of voting on potential workshop topics—let’s check out where things stand.

I know—April (2-4) seems a long ways off. And yes, we don’t “normally” start voting on topics this early. But since we already have the location (San Diego) and the dates (April 2-4), and as we’ve (already) begun working through a list of exciting keynote speakers, and, yes—making plans for Summit “After Dark”… 

So, how’s the voting going?

After one week this is how things stand with topics focused on Practice Management:

1. How to Develop/Determine a Reasonable Fee for Your Services           
2. How to Effectively Write and Maintain Investment Committee Meeting Minutes 
3. Are Your Meeting Minutes an Asset or a Liability?         
4. How to Communicate to clients and participants by meeting where they’e at! 
5. Designing a Retirement Plan Within a Total Rewards Comp & Benefits Strategy             
6. Earning Your “Keep”: Value added services to avoid sticker shock of advisor fees          
7. How are advisors handling fiduciary duties and management of details for their 401(k) clients? 
8. Participant data—how do you get it, how do/can you use it?    
9. Reframing Your Value Around Client Goals
10. Consultation beyond a (k) plan 

Don’t forget—you can (still) vote on practice(s) management topics—and they’re online at http://www.allourideas.org/prtcmgmt2023.

In only a week’s time, there has been a lot of shifting in the ranking of the business development topics. Sure, #1 is still #1, but four of the (new) top 10 are brand new this week. Here’s the new list:

1. How to be a great fiduciary (without really trying) (still ruling the roost at #1)
2. How blockchain technology may disrupt recordkeeping in the future (brand new to the top 10!)           
3. Benchmarking your way to a better business model (another brand new entry!)
4. Compensation Trends, Compliance and different revenue streams from managed accounts, rollovers, etc. (pushed down from #2 a week ago)
5. Lessons Learned From Litigation (up from #7)
6. Advisor technology—what is needed most for efficiency and margin expansion (down from #5)
7. Retirement Income: How To Navigate the Investment Choices & Have Conversations with Plan Sponsors (down from #4)
8. Super Social Security Claiming Strategies (down from #6)
9. Email engagement (down from #3)       
10. Building a better back office (new to the top 10!)         

The voting remains open at http://www.allourideas.org/bizdev2023.

Team Building topics have had another week to “mature”—but there’s been a lot of activity here as well. The top topic has held steady, but half of the top 10 weren’t a week ago! The list now stands:

1. Optimal Incentive and compensation structures tied to both sales and service success (growing and protecting revenue—everyone has a role!) (holding steady at #1!) 
2. Team Building, Team Binding (up from #7!)
3. How to Build—and Keep—a Quality Multi-Faceted Team (brand new to the top 10)
4. Generations Apart—Together at Work (holding at #4)
5. Establishing a Peer-to-Peer Education/Coaching Network (down from #2)
6. Just Wait a Minute—Setting Expectations for Newer Team Members (brand new to the top 10)
7. Diversifying Your Practice—and Your Practices. (down from #3)
8. “Virtual” Realities—striking the balance between WFH and work (brand new to the top 10)
9. How to Create an Environment Where Everyone Has a Voice. (down from #5)
10. My team looks like me and that’s not OK (brand new to the top 10!)

The voting remains open… at http://www.allourideas.org/team2023.

With regard to the workshops with a product/service focus—the most voting has been in this topic, by the way—and once again, there has been some (more) shuffling—and some new additions. The updated ranking is:

1. Industry trends—being prepared for what’s next (back in #1 after a week at #2)           
2. ERISA 103(a)(c)(3)—how does this change audits?? (brand new to the top 10)   
3. Recent Changes in Employee Benefit Plan Audits (new to the top 10)    
4. Custom Target-Date Options vs. Managed Accounts (holding steady at #4)        
5. Retirement Income Solutions That Actually Work (holding at #5)
6. Will Technology Make Target Date Funds Obsolete? (up from #8)
7. Why everybody wants—and nobody takes—in-plan retirement income options (down from #6)           
8. Personalization in the QDIA—custom TDFs vs. managed accounts (plummeting from the #1 last week)
9. Best presentation ideas/suggestions/techniques/Do’s & Don’ts (down from #7, and from #3 the week before)
10. Target Date Funds—are there better solutions for QDIAs? (brand new to the top 10)

Here too—the voting remains open—and, as you can see, the votes can move the ranking. Voting remains open at http://www.allourideas.org/product2022.

So—come spend a little time helping us shape the focus for the 2023 NAPA 401(k) Summit! And sign up for updates at https://napasummit.org

And thanks to all those who already have!