Advisory M&A News – 10/7/24
Hub International acquires Creative Financial Strategies; Mercer Advisors adds two advisory groups; and UBS hires $400 million financial adviser team.
News
Supreme Court to Review ERISA Prohibited Transactions
A case brought in 2016 against Cornell University will be reviewed for how strictly the courts should read ERISA on...
Who Is Most at Risk for Retirement Savings Shortfall?
Our final PLANADVISER In-Depth story on the state of retirement in the U.S. considers the groups most at risk for...
Treasury, IRS Issue Part-Time Eligibility Guidelines for ERISA 403(b) Plans
The guidance clarifies exclusions that prevent certain part-time employees from contributing to a plan.
Retirement Industry People Moves – 10/4/24
ICI promotes Antoniewicz to chief economist; T. Rowe Price names Thomson head of new investment institute; Nationwide hires East Coast...
Private Real Estate Assets in DC Plans Valued at $36.4B
A survey of real estate investment managers found inflows holding steady as the effect of the COVID-19 pandemic subsides.
SEC’s Enforcer Leaves Behind an ‘Aggressive’ Legacy
Gurbir Grewal’s SEC tenure will be remembered for his aggressive actions that spurred changes in financial advisement, and his successor...
Product & Service Launches – 10/3/24
Ascensus re-ups with Financial Finesse; Franklin Templeton expands with Bain Capital's Envestnet; and Security Benefit introduces TopRidge Bonus fixed-index annuity.
LPL’s Arnold Has Settlement Chance as Steinmeier Called Worthy Successor
Stock analysts are watching for specific details of Dan Arnold’s dismissal while touting Rich Steinmeier’s business growth credentials.
Apollo, Athene Targeting DC In-Plan Annuity Market
The asset manager and the country’s top retail annuity seller are working on a TDF that would include annuities and...
Quantifying Cybersecurity Risks
A cybersecurity risk modelling expert discusses the science of planning for an unpredictable data breach.
Wealth Enhancement Group Acquires FinTrust Capital Advisors
The acquisition brings Wealth Enhancement Group’s assets under management to more than $94.7 billion.
TIAA Swept Up in Infosys Breach
The data breach affected nearly 9,000 individuals at TIAA.
Cheri Belski Joins LPL Financial as Head of Investment Solutions
The former head of product at T. Rowe Price will lead all major investment initiatives.
Americans Are Calling for Policymaker Action on Social Security
Reports from HealthView and Transamerica show people want policymakers to work on shoring up Social Security now.
LPL Terminates CEO Arnold for Violating “Respectful Workplace” Rules
Dan Arnold is out effective immediately for statements made to employees that ran afoul of policy; Rich Steinmeier, chief growth...
Charles Schwab CEO Walt Bettinger to Retire
President Rick Wurster will ascend to the CEO role in 2025 in footsteps of “industry giant,” while Bettinger will continue...
TDFs: Set, But Not Forgotten
TDFs may be ‘set it and forget it’ investment vehicles, but they continue to evolve to meet plan sponsor needs...
CIT Growth Continues With Adviser Backing
As more plan sponsors turn to collective investment trusts to reduce costs, industry experts see both opportunities and challenges.
DC Plan Experts See Slow, Steady Progress in Plan Personalization
Solutions such as managed accounts and custom TDFs are evolving, but challenges to uptake remain, according to industry players.