READER RADAR: What is(are) the main topic(s) of the NAPA 401(k) 2023 Summit?

When we say the NAPA 401(k) Summit is built by advisors, for advisors, we really mean it – and after closing our Fourth week of voting on potential workshop topics – let’s see where things stand.

I know, April (2-4) seems a long way off. And yes, we don’t “normally” start voting on things that early. But since we already have the venue (San Diego) and the dates (April 2-4), and have (already) started working on an exciting speaker list and, yes, making plans for the summit.” After Dark”…

So how is the voting going?

After a week, here’s how things are going with topics focused on practice management:

  1. How to develop/determine reasonable fees for your services
  2. How to Effectively Write and Maintain Minutes of Investment Committee Meetings
  3. Are your meeting minutes an asset or a liability?
  4. How to communicate with customers and attendees by meeting where they are!
  5. Design a retirement plan as part of a total compensation and benefits strategy
  6. Earning Your “Keep”: Value-Added Services to Avoid Advisor Fee Shock
  7. How do advisors handle fiduciary duties and details management for their 401(k) clients?
  8. Participant data: how do you get it, how can you/do you use it?
  9. Reframe your value around customer goals
  10. Consultation beyond a plan (k)

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

In just one week there has been a plot move in the ranking of business development topics. Sure, #1 is still #1, but four of the (new) top 10s are new this week. Here is the new list:

  1. How to Be a Great Fiduciary (Without Really Trying) (Always Number One)
  2. How blockchain technology can disrupt record keeping in the future (brand new to the top 10!)
  3. Analyzing your path to a better business model (another brand new entry!)
  4. Compensation trends, compliance and different sources of revenue from managed accounts, rollovers, etc.
  5. Lessons learned from litigation (instead of #7)
  6. Advisor technology – what is needed most for efficiency and margin expansion (instead of #5)
  7. Retirement income: how to navigate investment choices and have conversations with plan sponsors (down from #4)
  8. Super Social Security Claim Strategies (instead of #6)
  9. Email engagement (down from #3)
  10. Build a better back office (new in the top 10!)

Voting remains open to http://www.allourideas.org/bizdev2023.

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

  1. Optimal incentive and compensation structures linked to both sales and service success (revenue growth and protection – everyone has a role!) (staying at the top!)
  2. Team Building, Team Binding (instead of #7!)
  3. How to build and maintain a quality multi-faceted team (brand new to the top 10)
  4. Generations Apart—Together at Work (now at #4)
  5. Establish peer-to-peer education/coaching network (instead of #2)
  6. Wait a Minute – Setting Expectations for New Team Members (all new to the top 10)
  7. Diversify your practice and practices. (down from #3)
  8. “Virtual” realities: finding a balance between telecommuting and working (all new in the top 10)
  9. How to create an environment where everyone has a voice. (down from #5)
  10. My team looks like me and it’s wrong (all new in the top 10!)

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

As for the product/service focused workshops – by the way, this was the top voted topic – and again there was a bit (more) of shuffling – and some new additions. The updated ranking is:

  1. Industry Trends: Preparing for what’s next (back to #1 after a week at #2)
  2. ERISA 103(a)(c)(3)—how does this change audits? ? (all new in the top 10)
  3. Recent Changes in Employee Benefit Plan Audits (New to Top 10)
  4. Custom Target Date Options vs. Managed Accounts (Holding Stable at #4)
  5. Retirement Income Solutions That Actually Work (Keeping at #5)
  6. Will technology make target date funds obsolete? (instead of #8)
  7. Why everyone wants – and no one takes – retirement income options in the plan (down from #6)
  8. Customization in QDIA: Custom TDFs vs. Managed Accounts (down from #1 last week)
  9. Best Presentation Ideas/Suggestions/Techniques/Do’s and Don’ts (Down from #7 and #3 the previous week)
  10. Target date funds: are there better solutions for QDIAs? (all new in the top 10)

Again — voting remains open — and, as you can see, votes can move the rankings. Voting remains open to http://www.allourideas.org/product2022.

So come spend some time helping us set the direction for the 2023 NAPA 401(k) Summit! And sign up to receive updates on https://napasummit.org

And thank you to everyone who has already done so!

Jessica C. Bell