READER RADAR: What are the top 10 business development topics for the 2023 NAPA 401 (k) Summit?

When we say that the NAPA 401 (k) summit is made up of advisers, for advisers, we mean that – and once we have completed the third week of voting on potential seminar topics – let us check where things stand.

I know – April (2-4) seems far away. And yes, we do not “normally” start voting on topics so early. But because we already have the location (San Diego) and the dates (April 2-4) and because we (already) have started working on a list of exciting keynote speakers and, yes, making plans for the After Dark summit…

So how’s the vote going? Well, in a week – the leading topics for business development are:

  1. How to be a great confidant (without really trying)
  2. Compensation trends, compliance and different revenue streams from managed accounts, relocations, etc.
  3. Engagement by email
  4. Retirement Income: How to Orient Yourself in Choosing an Investment and Talking to Plan Sponsors
  5. Technology advisors – what is most needed for efficiency and margin expansion
  6. Super Social Security Claim Strategies
  7. Lessons learned from litigation
  8. Acquisitions of advisors – what do you miss?
  9. (Many) More than 401 (K)
  10. Growing trend of AUM with cash balance plans

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

We now have a second week of voting on Team Building topics – with some shifting and a few new candidates in the top 10! The (current) list is:

  1. Optimal structures for incentives and compensations linked to both sales and service success (increasing and protecting revenue – everyone has a role!) (Brand new in the top 10!)
  2. Creating a peer-to-peer training / coaching network (holding position # 2)
  3. Diversify your practice – and your practices (down from № 1 a week ago)
  4. Generations separated – working together (from # 9)
  5. How to create an environment in which everyone has a voice (from # 8)
  6. Gen X – neglected workplace demographics and why they matter (from # 10)
  7. Team Building, Team Binding (down from # 6)
  8. Next generation of target date funds that guarantee a lifetime income (new in the top 10 and probably in the wrong category)
  9. How to build and maintain a quality multi-faceted team (down from # 4)
  10. Development of a culture of diversity (new in the top 10!)

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

Regarding the seminars with a focus on the product / service, there was some (more) shifting – and some new additions. The updated ranking is:

  1. Customize in QDIA – custom TDF versus managed accounts (new in the top 10!)
  2. Trends in the industry – preparation for the next (down from № 1 a week ago)
  3. Guaranteed income in the plan (new in the top 10!)
  4. Custom target date options for managed accounts (down from # 2)
  5. Retirement income decisions that actually work (down from № 4)
  6. Why everyone wants – and no one accepts – retirement income options (down from # 5)
  7. Best ideas for presentation / suggestions / techniques / yes and no (down from №3)
  8. Will technology make Target Date obsolete? (down from # 7)
  9. Do more with managed accounts (up — a little — from # 10)
  10. Managed accounts – just an expensive fund with a target date? (down from # 6)

And here – the vote remains open – and, as you can see, the votes can change the ranking.

How it works

As is our custom, we loaded an initial set of topics – ideas from our steering committee, as well as topics that have been intense and consistently drive traffic from NAPA Net. Our unique online voting tool will bring out two different topics of the session. You choose the one you like best – and then you can choose between the other two – and so on.

You don’t like either? Say so. Do you have another idea? Add it.

Each time you submit an idea, it is added to the set of ideas that others vote on (but keep in mind – it won’t show up right away, and if you add it more than once – well, it will only be added once, no matter how many times you try to add it).

There are now dozens (in some cases hundreds) of potential topics in the voting tool – if you don’t see the one you’re looking for, just keep spinning them – there’s no limit to how much or how long you can vote.

Oh, and you can sign up for Summit updates at https://napasummit.org/.

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