401(k) Specialist Issue 4 - 2021 - 4

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POD k AST
401(K) POD(K)AST
Don't miss our next 401(k) Pod(k)ast!
Remember to check out the latest 401(k) Specialist Pod(k)ast for exclusive,
timely insight on the issues that matter to 401(k) advisors from the biggest
names in the retirement market. A few recent guests? Retireholi(k)s' Resident
Nerd Chad Johansen on the biggest challenges for TPAs and 401(k)s
advisors; Anthony Scaramucci on Bitcoin, baseball and his SALT Conference;
and Teresa Ghilarducci on why the 401(k) fails and what a 'better'
system Looks like.
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401(K) PRACTICE MANAGEMENT
Buying Spree: Mariner Wealth Advisors Acquires Yet Another RIA
Kansas City-based RIA firm Mariner Wealth Advisors extended its summer streak of growth with yet
another acquisition announcement in September, this time acquiring Cincinnati-based RIA, The Pinnacle
Group.
It was Mariner Wealth Advisors' fifth acquisition since the sale of a minority stake in the company to
Leonard Green & Partners in April. Since July, the national wealth advisory firm has also acquired Allegiant
Private Advisors, AdvicePeriod, Channel Islands Group and Commonwealth Advisory Group, adding
over $7 billion in assets under management (AUM) in the process.
With the latest deal, Mariner Wealth Advisors currently has 395 advisors across 53 offices, and this will
be its second office in the Cincinnati metropolitan area. Founded in 2006 with $300 million in assets under
advisement (AUA), Mariner Wealth Advisors has grown to nearly $46 billion AUA as of June 30, 2021.
401(K) REGULATION
SECURE Act-Dictated Changes to Form 5500 Proposed
Changes are coming to Form 5500 relating to Multiple Employer Plans/Pooled Employer Plans in particular,
and you can thank the 2019 SECURE Act for them.
The Department of Labor's Employee Benefits Security Administration, IRS and the Pension Benefit
Guaranty Corp. are seeking public comments on proposed revisions to the Form 5500 Annual Return/Report
filed by private-sector employee benefit plans that were issued on Sept. 14.
The proposed changes are designed primarily to implement provisions in the SECURE Act relating to
statutory amendments to the Employee Retirement Income Security Act and the Internal Revenue Code.
At the same time, EBSA is publishing a notice of proposed changes to its implementing regulations under
Title I of ERISA.
In addition to implementing the SECURE Act, the proposed changes include a limited number of other
improvements to the annual return/report forms and instructions. A 45-day comment period ends on
Oct. 30.
401(K) INVESTMENTS
The Strong Case for Lifetime Income in Retirement Plans
" After 40 years of the 401(k) system, for some, it is now the biggest asset they have, " Kevin Morris, Chief
Marketing Officer for Principal Retirement & Income Solutions, said during a workshop at the recent 2021
NAPA 401(k) Summit in Las Vegas.
The session, titled " Out " Takes: Riding the Decumulation Wave, emphasized the value of including
guaranteed lifetime income solutions in retirement plans.
The shift from accumulation to decumulation is here, and moderator Patrick McKiernan of RBC Plan
Resource Group noted that 60% of plan sponsors are now considering offering lifetime income solutions.
" There wasn't much interest in target-date funds when they were first introduced but look what happened
with them, " McKiernan said. " Interest and awareness of guaranteed lifetime income in retirement
plans is developing the same way. "
John Sullivan - Editor-in-Chief
jsullivan@401kspecialist.com
303-502-2521
Brian Anderson - Managing Editor
banderson@401kspecialist.com
303-502-2507
Tashawna Rodwell - Director of Media Sales
trodwell@401kspecialist.com
303-502-2517
Lynn Brackpool Giles - Contributing Editor
lgiles@401kspecialist.com
MARKETING/DESIGN/PRODUCTION:
Brian Gilbert - Creative Director
Ashley Gonzalez - Director of Digital Marketing
Joey Santos - Director of Digital Campaigns
CONTRIBUTING WRITERS
Thomas Hawkins, Rebecca Hourihan,
Tom Torre and Ben Warwick
ADVISORY BOARD MEMBERS
Roger Levy, Cambridge Fiduciary Services
Ann Schleck, Ann Schleck & Co.
Skip Schweiss, TD Ameritrade Institutional
Bill Thomas, ActiveETF Partners, LLC.
Bud Verfaillie, Victory Fiduciary Consulting
Ashley Verfaillie-Rosser, Victory Asset Management
Victory Fiduciary Consulting
Don Trone, Founder and CEO, 3ethos
OUR MISSION
401(k) Specialist is exclusively dedicated to
equipping retirement plan advisors with the
vision, specialized knowledge and cutting-edge
technology that are vital to their success in
a dynamic marketplace, in order to ensure
a secure retirement for hardworking
Americans through the 401(k).
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401(k) Specialist Issue 4 - 2021

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