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The High Price of Discovery in ERISA Class Action
An ERISA consultant and expert witness in 401(k) litigation details how advisers can best prepare for potential class action suits.
Recordkeepers Ascensus, July Make Divisional Hires
Ascensus hires new nonqualified plan head from MassMutual; July hires national sales lead and promotes former sales director to lead third-party partner services.
Voya Tops $100B In Multiple Employer Assets
Announcement comes shortly after Voya bulked up its MEP sales team.
Commonwealth Gets $7M JPMorgan Funding for Low-Income Worker Program
The nonprofit will use the funds to launch an initiative to enhance access to workplace financial benefits to low- and moderate- income workers.
Nordstrom Suit, HP Revival Add to 401(k) Forfeiture Cases
A Wagner Law Group attorney says plan sponsors should review their plan documents, as Nordstrom is the latest employer challenged over its use of forfeited funds.
Guideline Hits $15B in AUA on Philosophy of Simplicity, Low Fees
Co-founder and CEO Kevin Busque details the past and present of Guideline as he seeks to keep an early promise to famed passive investor Jack Bogle.
Interim IRS Guidance Published on Student Loan Matching Payments
The program, created in SECURE 2.0, addresses student loans, which are considered a significant impediment to retirement savings.
Judge Grants Class Status in Genworth, BlackRock TDF Suit
The plaintiffs invested in BlackRock’s LifePath Index Funds get a rare win when compared to similar 401(k) complaint proceedings.
Advisory M&A News – 8/19/24
NewEdge Wealth grows RIA footprint; Summit Trail adds 10th advisory office to national network; Avantax brings on adviser with $60M in client assets.
Fidelity Reports 81% Plan Sponsor Satisfaction With Advisers
Survey results emphasize the importance of DC plan advisers in driving plan satisfaction and activity, according to Fidelity.
IRS Launches Public-Private Committee to Guard Against Tax Scams
About 60 private sector companies and groups join the IRS to combat a rise in tax scams ahead of next year’s filing season.
Retirement Industry People Moves – 8/16/24
World Investment Advisors hires CFO; The Standard hires Daniel Kretz as retirement plans VP for Maryland and D.C.; Mercer promotes Ben Kibbe to lead West region; and more.
Product & Service Launches – 8/15/24
SEI launches direct indexing investment strategies; small business retirement plan provider Ubiquity teams with bookkeeping firm Bench Accounting; Franklin Templeton adds equity SMA Models on Orion's Platforms; and...
JP Morgan Launches TDF With Guaranteed Income Annuity
The asset manager joins other large financial firms targeting the market for pension-like retirement saving in DC plans.
Participants Have Plan Distribution Options During Hurricane Season
With tropical storm season causing extensive damage, it’s a good time to ensure plan participants know they can take out special disaster distributions.
SEC Fines 26 Firms for Off-Channel Client Comms Violations
The regulator continues a push to crack down on the tracking and use of ‘off-channel’ client communication, such as texting.
Missouri Court Strikes Down Anti-ESG Rules
A district court judge put a permanent injunction on rules that required advisers to disclose any time they made decisions based on “a social objective or other nonfinancial...
Digital Retirement Rollover Firm Capitalize Raises Series B Funding
The company will use the $19 million capital raise to support locating and then transferring legacy retirement account rollovers.
TDF Assets Continue Climb Through July
The popular retirement savings default vehicle reached a new high for assets held by the top providers, according to Simfund data.