Week of March 17, 2017
NOTE FROM THE EDITOR
Happy Friday, readers! This week the DOL fiduciary rule and 401(k) industry-focused litigation again grabbed headlines—but readers also responded with interest to our story, “Few Millennials Making Recommended 401(k) Contribution.” Research reported on in the article offers equal cause for concern and optimism about Millennials’ collective financial future. Collected below you will find a series of additional articles exploring the role of Millennials as consumers and providers of financial advice. 
MOST POPULAR STORIES
Compliance
DOL Publishes Field Assistance Bulletin Regarding Fiduciary Rule Delay
The Department of Labor is seeking to offer assurance to advisers that it does not intend to enforce the fiduciary rule slated for implementation April 10, even if it fails to formally overturn the rulemaking by then. 
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Data and Research
Few Millennials Making Recommended 401(k) Contribution
Most Millennials are not contributing at least 15% of their income toward their 401(k) plans, but a majority are moving in the right direction, a new study finds.
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Deals and People
Retirement Industry People Moves
T. Rowe Price Hires Head of Large Retirement Sales; Ascensus Appoints VP of Channel Management; PanAgora Asset Appoints Strategic Relationship Manager; and more.
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Products
Merrill Lynch Rethinks Move Away From Brokerage IRAs
Amid the effort to roll back the fiduciary reforms, retirement advice providers that moved early to get into compliance with the proposed conflict of interest standards are left to reassess how to proceed.
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Data and Research
U.S. Public Pension System Faces Many Hurdles
A new survey report from S&P Global Ratings examining the pension plans of the 15 largest U.S. cities “reveals some common trends and key factors related to net pension liability per capita and funded ratios.”
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EDITOR’S CHOICE
Millennials’ Most Valuable Asset: Time
According to data from John Hancock Retirement Plan Services and Allianz Life, many Millennials have already fallen behind recommended retirement savings targets—but they also have time to recover and set the right approach.
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Millennials Essential
Many studies have shown that two-thirds of retirement advisory practices have no succession plan. This widespread failure among retirement plan practices to consider the future can be particularly troubling, as “the average age of all advisers today is 51, 21% are over the age of 60, and 50% are within 15 years of retiring,” says Richard Saperstein, managing director and chief investment officer at HighTower Treasury Partners in New York City.
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Millennials Favor ESG Amid Unfavorable Political Climate
While little concrete policy has yet been crafted, it is commonly assumed that the Trump administration will have little enthusiasm for promoting environmental, social and governance investing.
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Millennials Fret Their Student Debt Load
More than half of all young workers worry about repaying their student debt “either all the time or often,” according to a new survey by American Student Assistance.
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Millennials Overconfident in Their Financial Knowledge
Less than a quarter know the basics about finances.
Read more >
Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
Advertising: Paul Zampitella paul.zampitella@strategic-i.com
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