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Principal Asset Management Names Kamal Bhatia President, CEO
Bhatia will replace 40-year Principal veteran Pat Halter in leading the firm’s asset management division.
Voya, Goldman Start 2024 With Leadership Moves
Voya promotes Toms to CEO of investment management; Goldman names Wilson to new role heading retirement for asset and wealth management.
Envestnet CEO, Co-Founder Crager Stepping Down
The firm’s board is searching for a replacement to head the wealth management and financial wellness platform and product provider.
Retirement Industry People Moves – 1/5/24
2 new Nationwide leaders will focus on product solutions; Kane assumes role as president of Financial Planning Association; Edelman Financial Engines appoints Hanley as chief marketing officer; and...
Product & Services Launches – 1/4/23
PGIM launches 2 buffer ETF series; Federated Hermes launches total return bond ETF; and SoFi offers 2% match on IRA contributions.
Empower, SPARK Push Back Against Fiduciary Proposal
Their concerns arise from the wide range of sales conversations that take place between recordkeepers and plan sponsors and the potential expansion of fiduciary status to include them.
Product & Service Launches – 12/21/23
Morgan Stanley at Work unveils technology enhancements; John Hancock Investment Management launches active international equity ETF; PGIM releases 4 active ETFs.
Aon to Acquire NFP for $13.4B
NFP will continue to operate independently, with a “connected platform” to Aon.
On the Move
On the Move
SageView Enhances Wealth Management Leadership Team SageView Advisory Group hired Matt Cosgriff as senior vice president and head of wealth management advisory services in Minneapolis, and Sophie Benander...
Vanguard Names New Head of Financial Adviser Division
Amma Boateng will assume the role in January, replacing Tom Rampulla, who is retiring after 35 years at the firm.
Envestnet Expects Financial Advisers to Expand Further Into 401(k) Plan Business
The firm also predicts rising demand for end-to-end technology solutions and personalized services.
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 names new CFO; and more.
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.
Product & Service Launches – 12/14/23
Equitable enhances flagship investment-only variable annuity; Vanguard expands ETF lineup; AllianceBernstein launches five active ETFs; and more.
Fiduciary Rule Proposal Faces 1st Day of Dissent, Advocacy
The DOL’s Retirement Security rule is seen as overbearing by some, necessary by others.
Retirement Industry People Moves – 12/8/23
Ascensus names Mehlman new CFO; Crain exits Bank of America; NEPC elects principals and partners; and more.
401(k) Loans, Hardship Withdrawals at 2-Year High
Both loans and hardship withdrawals have increased to the highest rate since the pandemic, according to Empower’s annual retirement study.
Advisory M&A News – 12/4/23
Creative Planning announces acquisition of Daniels + Tansey; Perigon Wealth Management welcomes Wealth Advisors Inc.; Advisers Medelberg and Koziatek join UBS.
The PLANADVISER Interview: John Longley, CEO, SageView
The new CEO discusses what he sees in SageView’s opportunity to leverage the retirement and wealth convergence.
Underrepresentation of Female Advisers Persists
Leaders of organizations, both men and women, can design firms to better support female financial advisers, according to Carson Group’s annual survey.