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Carson Group President, Financial Planning Head Move On
Executive departures signal more reshuffling at the $38 billion advisory.
Firefighter Pension Complaint Alleges Insider Trading by United Health Execs, Including Slain CEO
The late Brian Thompson and two other executives were accused of dumping stock prior a DOJ antitrust investigation into the company.
How to Assess Workforce Priorities Amid Regulatory and Economic Shifts
Experts at a WTW panel recommended employers remain adaptable to workplace demands.
Auto-Portability Reaches 2.2M Fidelity Participants in Attempt to Limit Cash-Outs
The firm’s Q3 report also found average 401(k) and 403(b) account balances at record levels.
Product and Service Launches – 12/5/24
Fiduciary In A Box and Homa Health launch AI-powered ERISA contract review tool; Wespath debuts fossil-fuel-free funds for institutional investors; Payroll Integrations automates SECURE 2.0 compliance; and more.
Empower to Offer Income Products From Allianz, Putnam and TIAA
The country’s second-largest recordkeeper adds more annuity retirement income products, including its first on-platform fixed-index annuity.
Retail Investing AUM Will Likely Slow in Next 5 Years, But Sales Will Rebound
A forecast from ISS Market Intelligence shows overall retail investment assets down in the next five years, but with product shifts helping to combat years of fee compression.
Veteran Plan Advisers Advocate for DB Expertise
Jim Robison and Tommy Ford, both members of the Retirement Advisor Council, explain why defined contribution plan advisers should include defined benefit advisement in their practice.
SageView Advisory Group Acquires $400M OnTrack 401(k)
The acquisition of the Maryland-based plan consultant closed on December 2.
DPL, Offering Commission-Free Annuities, Gets $23M in Funding
The investors include the venture arm of annuity seller and recordkeeper TIAA.
Transamerica Introduces 2 New Pooled Plans
One of the plans offers more control for the plan sponsor; the other is a traditional PEP structure.
Trump Picks SEC Alum to Chair Regulator
Paul Atkins, a digital assets advocate, has been designated the nominee to replace the outgoing Gary Gensler.
Prudential Promotes Global Investment Leader Sullivan to CEO
Charles Lowrey will remain chairman, with Andrew Sullivan running the insurer and asset manager and Jacques Chappuis taking over as CEO of PGIM.
1 Year in, Portability Services Network Covers 15,000 Retirement Plans
According to the network started by Retirement Clearinghouse to transfer ‘stranded’ workplace balances, it has more than 7,800 transactions in process.
WAMCO Names New CEO as Former CIO Faces SEC Fraud Charges
Thomas Gahan will now lead Western Asset Management Co., while former CEO James Hirschman becomes chairman.
Financial Insecurity Weighs Heavily on Gen X
Struggling to balance debt, retirement savings and family responsibilities, members of Generation X face myriad financial challenges.
Kevin Hassett Announced as Trump’s Pick to Head National Economic Council
Hassett is known in the retirement industry for a paper he co-authored that expressed support for creating something similar to the federal Thrift Savings Plan for private sector...
Cerulli Finds Growing Dominance in Fee-Based Advisory Programs
The rise of managed accounts and increase in holistic financial advice is driving the trend.
Nearly Half of Retirees Have No Formal Decumulation Strategy
A similar 46% say they get minimal to no guidance on decumulation from their employer or 401(k) provider, according to a survey by IRALOGIX.
Advisory M&A News – 12/2/24
Avantax welcomes independent financial adviser; Hexure and Luma expand partnership to offer integrated life insurance and annuity solutions; NorthStar Insurance Services joins World Insurance Associates.