Skip to content
Monday, October 26, 2026 · Today’s edition, 6:30 a.m. ETMon, Oct 26 · 6:30 a.m. editionSign inMy Desk 0EditionsSign in

Maryland board chooses employer plan over state program

LPL Financial's Greg Bailey described the board's choice, PLANADVISER — Advice reported.

At a glance

  1. The board's discussion moved from how to comply with the state requirement to whether a plan could help recruit and retain staff, according to Greg Bailey, associate general counsel at LPL Financial.
  2. Early research from the Center for Retirement Research at Boston College suggests employers subject to state auto-IRA mandates are more likely to adopt employer-sponsored plans than similar firms in states without them.
  3. The column argues advisors don't need to be a recordkeeper, attorney or plan administrator to start the conversation once a notice arrives.

A Maryland assisted living facility board chose an employer-sponsored retirement plan over a state-facilitated program after a state mandate notice, PLANADVISER — Advice reported, citing an LPL Financial executive.

The board's discussion moved from how to comply with the state requirement to whether a plan could help recruit and retain staff, according to Greg Bailey, associate general counsel at LPL Financial.

Early research from the Center for Retirement Research at Boston College suggests employers subject to state auto-IRA mandates are more likely to adopt employer-sponsored plans than similar firms in states without them.

The column argues advisors don't need to be a recordkeeper, attorney or plan administrator to start the conversation once a notice arrives. Expanded SECURE and SECURE 2.0 incentives and the coming Saver's Match are making sponsorship more attractive, the column said, and likely widen the opening for owner-only plan and held-away rollover conversations.

Reported by the Practice management desk from PLANADVISER — Advice. Published . Corrections

Related

Advisors

Zocks AI tools reach LPL's more than 32,000 advisers

Founders Financial Securities adds the tools to its TRU Enterprise OS technology suite for all member partners.

Advisors

Raymond James names Kirk Bell to lead independent contractor unit

Bell starts April 1, 2027, and Raymond James also named Scott Curtis COO and said Tarek Helal becomes chief strategy officer.

Advisors

Kintra Wealth adds Scott Seymour's $355M practice to advisor-owned platform

Seymour, registered with Commonwealth for seven years, joins as partner and will use Kintra's shared operations, compliance and investment staff.

Advisors

Nevis raises $70M Series B with Schwab and EQT backing

Schwab Advisor Services head Jon Beatty says the investment and partnership expand the AI vendor's ecosystem; total funding reaches $110 million.

Advisors

Advisors should swap broad referral asks for specific prompts

A client who can articulate the advisor's value makes introductions easier, Wealth Solutions Report reports.

Wealth Advisor Dailyfrom Private Wealth Daily

Practice management, recruiting, RIA M&A and the platforms advisors run on. Daily at 6:45 a.m. ET.

Free. Every morning. Unsubscribe from any edition in one click.

From other sections