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Advisors – Hang In There!

  • February 7, 2017


Help Is On The Way!

Now that the Trump administration has ordered an updated economic and legal analysis of the Fiduciary Regulation, every advisor practice is left wondering what is next. We are waiting anxiously to see what impact regulations, new or revised, will have on the work we have all done preparing for the April effective date.

No matter the outcome, at Fluent we have more than 20 years of experience in this area. We’ve seen changes large and small over the years and, if anything, it has allowed us to be nimble to stay ahead of the needs of the market. Changes, trends and new market expectations have motivated us to develop our new UtopiaAdvisor software. So, what is expected of plan advisors?

  • Focus on Participant Outcomes – A plan advisor’s practice must focus on assuring the plan sponsor objective to offer employees an excellent plan that produces positive participant outcomes.
  • Plan Reviews, Too – Plan advisors are expected to be aware of plan services and participant metrics, and not just provide advice related to investments.
  • You’re a Fiduciary, Get Used to It! – Plan advisors are fiduciaries to the plan, and as such are legally required to act in the best interest of the sponsor and the participants.
  • Be Transparent & Know the Details – Plan advisors are expected to be transparent and have a keen knowledge of the details. The volume of information that an advisor must track and be aware of is enormous.

The Conclusion? Plan advisors need new tools to exceed client expectations, yet be of great value in a fee suppressed era. So what should an advisor look for when considering tools?

  • New Tools & Technology – Advisors need simplified technology and new tools that will make their practice easier in accomplishing these objectives, and in turn, help make the advisors practice successful and more profitable.
  • Document, Document, Document! – Advisors must protect their interest and prove they have acted in the best interest of the plan.

Fluent Can Help. We welcome the opportunity to talk to you about your needs as an advisor, an RIA, a broker dealer or a plan provider. Fluent’s latest software is on the verge of a major upgrade release, and we want to wow you with tools that will equip you to take on anything that may come your way. Don’t just meet your clients’ needs. Exceed them!

Learn more about UtopiaAdvisor. Come to booth #437 at the NAPA 401k SUMMIT or visit our website

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