Compliance December 15th, 2023 SEC Suggests Retirement Assets Should Not Count Toward Accredited Investor Threshold The regulator’s report on the accredited investor definition noted that many only qualify because of their DC plan assets.
Compliance December 15th, 2023 Clorox Seeks Dismissal of 401(k) Forfeiture Complaint The company argues in the filing that its fiduciaries followed IRS guidance on how unused retirement assets can be used.
Deals & People December 15th, 2023 Lincoln to Shed Wealth Division With Sale to Osaic Lincoln has agreed to sell its $108 billion wealth management business to focus on workplace and insurance services and products.
Deals & People December 15th, 2023 Retirement Industry People Moves – 12/15/23 National Association of Investment Companies announces Abraham as vice president of development; Truist appoints Stengel as chief legal officer; Ameritas...
Products December 14th, 2023 KeyBank Advisory Division Launches PEP Institutional Advisory debuts 401(k) pooled employer plan, with Transamerica Corp. the recordkeeper and Pentegra the pooled plan administrator.
Compliance December 14th, 2023 Credit Suisse Fined $10M by SEC for Not Properly Reporting State-Level Infraction The bank had previously been cited by New Jersey for making misleading statements to investors but did not seek relief...
Deals & People December 14th, 2023 Edelman Financial Engines Acquires New England Pension Plan Systems The acquisition is the 2nd with retirement plan business in the last month and brings $1.5 billion in assets under...
Compliance December 14th, 2023 Treasury Secondary Transaction Rule Finalized by SEC The rule requires more trades to be centrally cleared and is intended to improve market transparency and liquidity.
Deals & People December 14th, 2023 MFS, Natixis Both Name New CEOs Philippe Setbon will step into the Natixis job immediately, while Edward Maloney’s promotion at MFS will take effect in 2025.
Products December 14th, 2023 Product & Service Launches – 12/14/23 Equitable enhances flagship investment-only variable annuity; Vanguard expands ETF lineup; AllianceBernstein launches five active ETFs; and more.
Compliance December 13th, 2023 Adviser, Planner Communities Give Qualified Support for Fiduciary Proposal The highly controversial proposal from the DOL has received support from major industry actors, including the CFP Board and FPA,...
Compliance December 13th, 2023 Litigation Trends to Watch in 2024: Drop in TDF Suits, More Forfeiture Complaints Attorneys from Faegre Drinker Biddle & Reath LLP discuss qualified retirement plan litigation trends for the new year.
Data & Research December 13th, 2023 DOL’s Fiduciary Rule Faces Uncertain Future Although regulators are motivated to finalize the rule, it will likely face litigation, according to Capital Group’s senior counsel.
In Practice December 13th, 2023 Would DOL’s Fiduciary Proposal Help or Hinder Coverage Gap? Dissenters say the DOL’s proposed amendments would reduce access to needed retirement products.
Compliance December 12th, 2023 Fiduciary Rule Proposal Faces 1st Day of Dissent, Advocacy The DOL’s Retirement Security rule is seen as overbearing by some, necessary by others.
Deals & People December 12th, 2023 Carson Group Snags $1.2B Retirement, Wealth Advisory Oakeson Steiner is leaving OneDigital for wealth-focused Carson Group.
Client Service December 12th, 2023 Vanguard Bullish on 60/40 Model for Long-Term Savers A return to normalcy will make this time-tested stock and bond split work again in 2024, according to experts at...
Deals & People December 12th, 2023 Alera Acquires Plan Advisory Fraser Group Adviser George Fraser joins Alera as the firm continues its push into retirement plan advisement.
Data & Research December 12th, 2023 Saver Receptivity to Financial Advice Reaches 10-Year High Hearts & Wallets research also finds more Americans are looking to do both investing and banking with one provider.
Products December 11th, 2023 Delaware Expands Auto-IRA Program, Joins Colorado Consortium Administered by Vestwell, the program will expand retirement savings access to Delaware’s private sector workers and is fee-free for employers.