The magazine - National Association of Plan Advisors

NAPAnet THE OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF PLAN ADVISORS

the magazine

Spring 2018 ? NAPA-

Powered by the American Retirement Association

NAPA NET THE MAGAZINE ? SPRING 2018 ? NAPA TOP WOMEN ADVISORS

"Class" Acts ? NAPA's Top Women Advisors

Cyber (In) Security ? Are Your Clients Vulnerable?

"Different" Strokes ? NAPA Launches NextGen Initiative

A NEW IDEA TO IMPROVE DC PLANS: THE RETIREMENT TIER

Every day, more Americans move closer to retirement. As they do, their needs change. It's a challenge that calls for new thinking: a exible approach to enhancing DC plans with more tools, communications, and income solutions for near retirees. Meet the Retirement Tier at newidea

All investments involve risks, including possible loss of principal. Investors should carefully consider a fund's investment goals, risks, charges and expenses before investing. To obtain a Franklin Templeton fund summary prospectus and/or prospectus that contains this and other information, call 1-800-342-5236. Investors should read the prospectus carefully before investing.

? 2018 Franklin Templeton Distributors, Inc. All rights reserved.

COVER

SPRING 2018

FEATURES

Cyber(In)Security

{ What you need to know -- and do -- about cybersecurity threats }

26

fferent' Strokes

acting and retaining a more diverse team of plan advisors

42

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CLASS `ACTS' by Nevin E. Adams, JD

Words of wisdom from the newest class of NAPA Top Women Advisors.

? CYBER (IN)SECURITY by Judy Ward

Here's what you need to know -- and do -- about cybersecurity threats.

? WELL CONNECTED by Pat Advaney

The Women in Pensions Network expands along with women's role in the retirement industry.

44

? `DIFFERENT' STROKES by Judy Ward

Six ideas for attracting and retaining a more diverse team of plan advisors.

S P R I N G 2 0 1 8 ? N A PA - N E T. O R G

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INSIDE MARKETING by Rebecca Hourihan

What's your marketing IQ?

EDITOR-IN-CHIEF Nevin E. Adams, JD

COPY EDITOR John Ortman jortman@

ASSOCIATE EDITOR Troy Cornett tcornett@

GRAPHIC DESIGNER Lisa M. Marfori lmarfori@

PRODUCTION MANAGER Steve Fox sfox@

COLUMNS

04 LETTER FROM THE EDITOR by Nevin E. Adams, JD

States and state regulators are stepping in to fill gaps in coverage, consumer protection.

06 INSIDE NAPA by Paul D'Aiutolo

It is amazing to look back and see what has transpired in the last year.

08 INSIDE THE BELTWAY by Brian H. Graff

Why are we still relying on 17th Century technology for critical participant communications?

10INSIDE INVESTMENTS by Jerry Bramlett

What to do about low adoption rates.

16 INSIDE THE PLAN PARTICIPANT'S MIND by Warren Cormier

Helping plan sponsors deal with the missing participant problem.

18 INSIDE THE THE STEWARDSHIP MOVEMENT by Donald B. Trone

How to build and maintain a robo-fiduciary.

22 INSIDE MARKETING by Rebecca Hourihan

What's your marketing IQ?

24 INSIDE SOCIAL MEDIA by Spencer X Smith

Stop using this 4-letter `F' word in your sales meetings.

50 INSIDE THE LAW by David N. Levine

Three lessons learned from experience in counseling advisors.

52 INSIDE THE NUMBERS by Nevin E. Adams, JD

Debt `limits': causation, correlation or coincidence?

54 CASE(S) IN POINT

Excessive fee litigation involving university 403(b) plans has drawn at least one advisory firm into the mix.

58 POLLING PLACES by Nevin E. Adams, JD

Advisors adjust to provider changes, charges in the wake of the fiduciary rule.

12 TRENDS SETTING

Shedding light on the latest in industry and demographic trends.

48 INSIDE THE PLAN SPONSOR'S MIND by Steff C. Chalk

Advisors' expertise morphs as life expectancy grows.

60 REGULATORY REVIEW

The budget bill that reopened the federal government included some retirement provisions.

NAPA OFFICERS

PRESIDENT Paul D'Aiutolo

PRESIDENT-ELECT Jeff Acheson

VICE PRESIDENT Jania Stout

EXECUTIVE DIRECTOR Brian H. Graff, Esq., APM

NAPA Net the Magazine is published quarterly by the National Association of Plan Advisors, 4245 North Fairfax Dr., Suite 750, Arlington, VA 22203. For subscription information, advertising and customer service, please contact NAPA at the above address or call 800-3086714, or customercare@napa-. Copyright 2018, National Association of Plan Advisors. All rights reserved. This magazine may not be reproduced in whole or in part without written permission of the publisher. Opinions expressed in bylined articles are those of the authors and do not necessarily reflect the official policy of NAPA.

Postmaster: Please send change-of-address notices for NAPA Net the Magazine to NAPA, 4245 North Fairfax Dr., Suite 750, Arlington, VA 22203.

Stock Images: ShutterStock

Cover Design: Lisa M. Marfori

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N A PA N E T T H E M A G A Z I N E

STRATEGICALLY POSITIONED FOR LONGER RETIREMENTS.

Our Target Date Solutions are focused on growth to keep retirement goals on track.

People are living longer, which means that for many, the goal of having meaningful income throughout retirement has become harder to reach. Our research suggests that an allocation focused on generating growth in retirement accounts is one way to build a nest egg large enough to last throughout what could be a lengthy retirement. Call a representative at 1-800-371-4613 to learn how our Retirement Funds seek to deliver longer retirements for your clients.

NAPA 401(k) SUMMIT 2018 Booth #733

Speak to one of our retirement experts to learn how our small adjustments seek to deliver better retirement outcomes.

Consider the investment objectives, risks, and charges and expenses carefully before investing. For a prospectus or, if available, a summary

prospectus containing this and other information, call 1-877-804-2315. Read it carefully.

All investments are subject to risk, including the possible loss of the money you invest. The principal value of the Retirement Funds is not guaranteed at any time, including at or after the target date, which is the approximate year an investor plans to retire (assumed to be age 65) and likely stop making new investments in the fund. If an investor plans to retire significantly earlier or later than age 65, the funds may not be an appropriate investment even if the investor is retiring on or near the target date. The funds' allocations among a broad range of underlying T. Rowe Price stock and bond funds will change over time. The funds emphasize potential capital appreciation during the early phases of retirement asset accumulation, balance the need for appreciation with the need for income as retirement approaches, and focus on supporting an income stream over a long-term postretirement withdrawal horizon. The funds are not designed for a lump sum redemption at the target date and do not guarantee a particular level of income. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility over shorter time horizons.

Investment Management and Retirement Plans

T. Rowe Price Investment Services, Inc., Distributor.

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