ADP® Retirement Services recently hosted its annual Financial Advisor Symposium in Chicago. ADP Retirement Services organizes this symposium each year as part of its ongoing commitment to financial advisor partners with whom it works to provide the latest information on the issues and challenges facing the retirement industry.
This year’s symposium focused on a variety of current issues affecting the constantly evolving industry, including the impacts and opportunities created by new plan fee disclosure requirements, strategies to help mitigate fiduciary risk, and the need for more small- and mid-size business owners and their employees to participate in retirement savings plans.
“ADP Retirements Services is committed to helping small- and mid-sized business owners and their employees understand and participate in retirement savings plans,” said Chris Augelli, ADP Retirement Services’ vice president of sales operations. “Through our annual Financial Advisor Symposium, ADP provides a timely and meaningful venue for financial advisors to keep apprised of important industry developments in retirement planning. We had very strong attendance again this year and I am confident participants learned key insights from their peers and from leading industry experts alike.”
The seminar featured speakers from throughout the financial services community including John Carl, president of the Retirement Learning Center, LLC.; Dominic Falaschetti, senior vice president at Mesirow Financial; and Bradford P. Campbell, counsel at Drinker Biddle & Reath LLP and former Assistant Secretary of Labor for Employee Benefits and former head of the Employee Benefits Security Administration.
Mr. Campbell’s keynote focused on the changing fee disclosure rules, which create greater plan fee transparency, and the compliance challenges these new rules create for plan administrators.
“The new fee disclosure regulations represent one of the most important developments in the retirement plan industry in some time,” Mr. Campbell said. “It is critical that plan sponsors understand both the far-reaching impacts of the new rules, as well as the opportunities they create, to help encourage retirement savings among business owners and their employees,” said Mr. Campbell. “The new fee disclosure requirements create a great opportunity for plan sponsors and administrators to engage participants to raise awareness about and build confidence in participants’ retirement readiness,” Mr. Campbell added.
Other topics discussed at the symposium included trends in retirement saving, additional regulatory issues affecting retirement planning on the horizon and strategies for growing retirement service businesses.
Note: The views expressed at the symposium were the speakers’ own and not necessarily those of ADP, Inc. or its affiliates, were provided for general information only and not intended to provide investment, tax or legal advice or recommendations for any particular situation or type of retirement plan. ADP does not endorse or recommend specific investment companies or products, financial advisors or service providers. Please consult with a financial, tax or legal advisor on your own particular circumstances.
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