July 13, 2017
As a ‘Retirement Plan Advisor’ who works with small and mid-size businesses, I feel my work is specialized and separate from retail advisory work. The process of evaluating providers, investment management, fiduciary liability management, plan design and provisions, and fee monitoring is highly distinct and separate from individual level planning.
I would encourage a separate license to handle this business. The market place is different, the clientele and needs are different, and therefore the licensing should be different.
Not only would it be good for plan advisors and our accountability, it would be best for retail advisors as well. The amount of expertise needed on that side of the house continues to grow, and they can show their value in that space uniquely.
I would be happy to be a resource to layout the distinctions and the marketplace should you need further information. I am 16 year veteran of the plan side, managing 70 plans with over $500mil in assets.
Please let me know if you have any questions.
Regards,
As a ‘Retirement Plan Advisor’ who works with small and mid-size businesses, I feel my work is specialized and separate from retail advisory work. The process of evaluating providers, investment management, fiduciary liability management, plan design and provisions, and fee monitoring is highly distinct and separate from individual level planning.
I would encourage a separate license to handle this business. The market place is different, the clientele and needs are different, and therefore the licensing should be different.
Not only would it be good for plan advisors and our accountability, it would be best for retail advisors as well. The amount of expertise needed on that side of the house continues to grow, and they can show their value in that space uniquely.
I would be happy to be a resource to layout the distinctions and the marketplace should you need further information. I am 16 year veteran of the plan side, managing 70 plans with over $500mil in assets.
Please let me know if you have any questions.
Regards,
Nick Kralj
VP of Retirement Plan Services
BCI Group, a division of HUB International Northwest
6979 SE Lake Rd
Portland, OR 97267