‘Forum ‘16: Equipped’ to offer advisors tools, knowledge as they adapt to new regulation
TAMPA, Fla., September 16, 2016 — IFP Plan Advisors, a division of Independent Financial Partners (IFP), a Tampa, Florida-based hybrid registered investment adviser that provides support services to advisors across the country, wants its advisors to fully embrace the new fiduciary rule as a way to stand apart from their competitors.
As part of its ongoing efforts to empower its 150 retirement plan-focused advisors to adapt to the change, ‘Forum ‘16: Equipped,’ set for Oct. 12 and 13 in Dallas, Texas, will consist of a series of critical discussions about the new regulation’s impact on just about every aspect of the way they do business.
“We see the new regulations as a clear advantage for conflict-free advisors such as IFP Plan Advisors. This is especially true for the way the rule clarifies how services can be delivered to both a plan and its participants,” said IFP Plan Advisors President Kim Shaw Elliott. “We fully embrace the new fiduciary regulations that require all advisors giving investment advice to work in the best interest of plans and their participants. It is a standard we have held to all along and believe this be attractive to prospective clients who don’t currently benefit from the services of an investment fiduciary.”
Elliott explained that the biggest change in her firm’s practices will relate to servicing IRAs.
“We are a firm that enjoys the expertise of both plan advisors and wealth managers so there will be some minor changes to how IRAs are advised,” she said. “We are organized to pivot quickly in times of changing needs and expect to be fully prepared well in advance of April 10, 2017, the effective date of the new regulation.”
IFP Plan Advisors is investing a significant amount of its resources to ensure its advisors are prepared for this substantial shift in the industry. At the conference, the team will detail for their advisors the tools and knowledge the firm can provide to support them through this era. Individual sessions will offer strategic ways to capture brokerage accounts orphaned by other advisors unwilling to adapt, as well tips on properly documenting services to address the fiduciary responsibility. In other sessions, IFP team members will discuss the intricacies of buying and selling an existing book of business and how an advisor can expand his or her business to include participant-level services.
IFP will also highlight the Retirement Resource Desk, a team of specialists created this year to support the reporting and business development needs of its advisors. These central team members are able to produce investment management and fee reasonableness reports, as well as assist in the RFP process.
In addition to dedicating “Forum ’16: Equipped” to the fiduciary rule, IFP Plan Advisors has created a Plan Advisory Council comprised of a dozen of its largest advisors to strategize ways the firm can assist its network through the transition.
“It is our role as the registered investment advisor to provide our advisors critical support through tools and services,” said IFP CEO William Hamm. “I expect our plan advisors will leave this conference with full confidence that we are doing all that we can to guide them through this change.”
About Independent Financial Partners
Family-owned and privately-held since it was founded in 2000 by CEO William Hamm Jr. on the principals of independence, flexibility and collaboration, Independent Financial Partners (IFP) is a comprehensive financial advisor support firm with home/corporate offices in Tampa, Florida, and Phoenix, Arizona. It is dedicated to delivering personalized service to a growing network of more than 480 independent advisors nationwide, allowing them to better focus on the needs of their clients.
An SEC Registered Investment Adviser (RIA) and an Office of Supervisory Jurisdiction (OSJ), IFP works directly with its advisors to provide them technological, compliance, marketing, business development, and operational support, as well as access to leading experts in the fields of retirement, wealth management, insurance and institutional services. Its divisions include IFP Institutional Services, IFP Insurance Group, IFP Plan Advisors and IFP Wealth Management.
As of Dec. 31, 2015, IFP’s advisors have more than $28 billion in assets under advisement. The firm has annually earned the trusted CEFEX certification for support services for adhering to the industry’s best practices since 2014. For more information on IFP, visit www.ifpartners.com. Follow IFP on Twitter at @IF_Partners.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Independent Financial Partners, a registered investment adviser and separate entity from LPL Financial.
IFP is CEFEX certified to provide Registered Investment Advisor services through its division of IFP Plan Advisors including the oversight and support of Investment Adviser Representatives providing services under its retirement plan agreements.
Posted by: Sean Brennan | September 15th, 2016 at 4:28pm.