By any measure, the just-concluded NAPA 401(k) Summit was an incredible, record-breaking success – with so much good content and networking that it was hard to choose between sessions. For those who weren’t able to be there – or who were unable to be everywhere at once – here are some random thoughts, insights and perspectives from that event.
Health savings accounts could wind up being a big deal.
One man’s loophole is another man’s incredibly important tax preference.
The most important thing is not what happened, it’s what’s going to happen.
Online gambling didn’t kill Vegas – and robo-advisors won’t kill 401(k) advice.
In tax reform, everything is about trade-offs.
84% of Millennials surveyed want their investments to make the world better.
Retirement plans are about 1/50th of what a plan sponsor does.
Fees are still a major factor in landing a new client.
Most people want to do the right thing, but they don’t know how to do it.
When the market goes down, lawsuits go up.
Claiming Social Security before age 66 permanently reduces a client’s retirement benefit. Almost 75% of Americans claim Social Security before their Full Retirement Age.
After 66, Social Security retirement benefits grow by 8% per year.
All PEPs are MEPs but not all MEPs are PEPs.
People want to be financially secure. They know what to do to become financially secure. Yet, they are not financially secure.
What do you have “in your head” that’s not on your website?
In 1835 the normal retirement age was… death.
The DOL’s been very clear that “QDIA protection evaporates” under certain circumstances.
President Trump is like a tech stock – he could fly high, or he could be a train wreck.
For a plan committee, especially when it comes to investment changes, doing nothing is often best.
For prospects, at the end of the day, client references are the ultimate value message.
Repeatability is an important key to building a practice.
Plan sponsor: “Don’t assume what’s obvious to you is obvious to me.”
So, how are you going to top this?
We heard the latter a number of times during the course of the 2017 NAPA 401(k) Summit – which admittedly set a whole new standard for what has become the nation’s retirement plan advisor convention. But we also heard that after the 2016 NAPA 401(k) Summit, and I think we managed to do so. Thanks again to our sponsors, our presenters and facilitators, and most particularly those who supported the event with your attendance and participation – who were all part of a remarkable experience!
If you were there, tell a friend. And whether you were there or not, make plans now to attend the 2018 NAPA 401(k) Summit – and see how we’ll top this year’s!
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