PLANADVISER

More 401k Sponsors Provide General Education than Individual Advice

Nicole — Wed, 08 Sep 2010 12:52:30 GMT

More 401(k) Sponsors Provide General Education than Individual Advice Rebecca Moore Far more organizations provide defined contribution retirement plan participants with general educational materials about the plan and about investing than provide participants with individual investment advice, according to

Fidelitys Web-Based Tool Attracting RIAs

Alison — Wed, 08 Sep 2010 13:08:33 GMT

Fidelity’s Web-Based Tool Attracting RIAs Nicole Bliman The system, WealthCentral, allows registered investment advisers (RIAs) to integrate several programs into one centralized website. Fidelity announced several improvements to the system based on client feedback: Create block

Q2 a Difficult Quarter for Callan DC Index

Nicole — Wed, 08 Sep 2010 12:18:48 GMT

Q2 a Difficult Quarter for Callan DC Index Rebecca Moore Callan Associates reports that the Callan DC Index’s second-quarter performance was its worst since the fourth quarter of 2008. The average defined contribution (DC) plan registered an investment loss of 7.19%. Turnover for the second

More Parents Saving for College but Falling Short of Goals

Alison — Wed, 08 Sep 2010 12:52:27 GMT

More Parents Saving for College, but Falling Short of Goals Nicole Bliman Fidelity Investments recently released the results of their 4 th annual College Savings Indicator study, as well as new guidelines for how much parents should be setting aside from their income into a 529 college savings account.

Roth 401k Feature in 29 of Plans

Nicole — Wed, 08 Sep 2010 10:31:52 GMT

Roth 401(k) Feature in 29% of Plans Fred Schneyer A new Hewitt Associates study of the Roth 401(k) feature found that 29% of mid- to large-sized employers offer it and 25% are very or somewhat likely to add it in 2010. According to a Hewitt research paper, the largest barriers among plan spon

Court Throws Out ERISA Suit

Nicole — Wed, 08 Sep 2010 09:11:36 GMT

Court Throws Out ERISA Suit Fred Schneyer A federal appellate court has cleared Solvay Chemicals Inc. of wrongdoing in its cash balance plan conversion, but sent a narrowly drawn notice issue back to a lower court for further hearings. The 10 th U.S. Circuit Court of Appeals ruled the lower cour

Advisors Asset Management Expands ETF Offerings

Alison — Wed, 08 Sep 2010 10:52:27 GMT

Advisors Asset Management Expands ETF Offerings Nicole Bliman By collaborating with WisdomTree Investments, Advisors Asset Management (AAM) will now offer advisers a wider array of exchange-traded funds (ETFs) as part of their investment solutions. In a statement, AAM said it has decided to wo

Vanguard Introduces Online Annuity Service

Nicole — Wed, 08 Sep 2010 07:34:32 GMT

Vanguard Introduces Online Annuity Service Rebecca Moore Vanguard has introduced a new Web-based service that enables individuals to compare income annuities from leading insurance companies. Vanguard Annuity Access, powered by Hueler Companies’ Income Solutions platform, is designed for individuals

Boomers and Older Americans Aware of Retirement Crisis

Nicole — Wed, 08 Sep 2010 07:28:48 GMT

Boomers and Older Americans Aware of Retirement Crisis Rebecca Moore Longer life spans, increased personal responsibility for retirement savings, and the recent market downturn can seriously impact a person’s retirement preparedness and most Americans in a recent study are aware of this. Allianz Life

Not Many Know They Can Undo Roth Conversion

Nicole — Wed, 08 Sep 2010 06:51:11 GMT

Not Many Know They Can Undo Roth Conversion Rebecca Moore A Fidelity Investments study finds that less than a third of investors who are newly eligible to complete a Roth IRA conversion are aware of the flexibility they have to “undo” the move. Fidelity explained in a press release that the process,

BOSS Offers iPhone App for Tracking Business Expenses

Nicole — Wed, 08 Sep 2010 06:44:00 GMT

New iPhone App for Tracking Business Expenses PLANADVISER staff BOSS Business Services has developed an iPhone App for tracking business expenses. The BOSS Expense Tracker allows users to document the details of an expense directly from their iPhones and take a photo of the receipt, invoice, or any

S P Municipal Yield Index Launched

Nicole — Wed, 08 Sep 2010 06:40:51 GMT

S&P Municipal Yield Index Launched PLANADVISER staff Standard & Poor's has expanded its family of municipal bond indexes with the launch of the S&P Municipal Yield Index. S&P Indices also announced that it has licensed State Street Global Advisors (SSgA) to list and trade an

Training New Plan Sponsors is Key

Alison — Wed, 08 Sep 2010 10:54:35 GMT

Training New Plan Sponsors is Key Nicole Bliman Research done by Anova Consulting Group shows how properly training new, small-market plan sponsors is imperative for advisers and plan providers to achieve client satisfaction. The survey of 875 plan sponsors shows that new, small-market 401(k) pl

EMA Softech Introduces Software for Mutual Fund Analysis

Alison — Tue, 07 Sep 2010 13:43:16 GMT

EMA Softech Introduces Mutual Fund Analysis Software Nicole Bliman The investment software firm says the new Web-based tool, AlphaFunds, provides advisers with advanced risk analysis and performance measurement capabilities to evaluate mutual funds. In a statement, EMA Softech says AlphaFunds e

UBS Appoints New Head of Alternative Investment Solutions

Nicole — Tue, 07 Sep 2010 10:58:18 GMT

UBS Appoints New Head of Alternative Investment Solutions Rebecca Moore UBS Global Asset Management has appointed Bruce Amlicke as Co-CIO and Head of Alternative Investment Solutions (AIS). Amlicke reports to Bill Ferri, Global Head of Alternative and Quantitative Investments (A&Q) and is base

New Hire at River Road Will Lead Independent Value Investment Strategy

Nicole — Tue, 07 Sep 2010 10:26:10 GMT

New Hire at River Road Will Lead Independent Value Investment Strategy Rebecca Moore River Road Asset Management, LLC announced that Eric Cinnamond has joined the firm as Vice President and Portfolio Manager at River Road, and will lead the firm’s new “Independent Value” investment strategy. River Ro

EPIC Hires Sales Manager

Alison — Tue, 07 Sep 2010 10:59:49 GMT

EPIC Hires Sales Manager Nicole Bliman EPIC Advisors, a 401(k) plan recordkeeping firm, has appointed Carolyn Richardson as a sales consultant. Richardson will be promoting EPIC's retirement plan services to the banking and registered investment adviser (RIA) communities in New England, New York

DWS Investments Appoints New Director

Alison — Tue, 07 Sep 2010 10:56:31 GMT

DWS Investments Appoints New Director Nicole Bliman The U.S. retail unit of Deutsche Bank’s global Asset Management division announced Michael Hughes has been named Director and Senior Account Manager, responsible for National Accounts . Hughes will be responsible for handling relationships

Transamerica Unveils Value Fund

Nicole — Tue, 07 Sep 2010 08:26:03 GMT

Transamerica Unveils Value Fund PLANADVISER Staff Transamerica Asset Management Group will introduce Transamerica WMC Quality Value in November 2010. A news release said the strategy is sub-advised by Wellington Management Company, LLP, and seeks returns in excess of the Russell 1000 Value

MSCI Announces Launch of ESG Indices

Nicole — Tue, 07 Sep 2010 08:23:04 GMT

MSCI Announces Launch of ESG Indices Rebecca Moore MSCI Inc. has launched a family of MSCI ESG Indices. The indexes are designed to respond to clients’ needs for (Environmental, Social, Governance) ESG indices in three main areas: ESG “best-of-class” indices, such as the MSCI World ESG Inde

Advisers Noncompete Clause Upheld by Court

Alison — Tue, 07 Sep 2010 14:10:15 GMT

Adviser’s Noncompete Clause Upheld by Court Nicole Bliman A federal court in Connecticut has prohibited David B. Austin from using any confidential client information originating from his former employer, AmWINS Group Inc., at his new employer, R-T Specialty. David B. Austin and R-T Specialty, a

Barclays Group Chief Executive to Step Down

Nicole — Tue, 07 Sep 2010 06:44:49 GMT

Barclays Group Chief Executive to Step Down Rebecca Moore Barclays PLC and Barclays Bank PLC announced that John Varley intends to step down as Group Chief Executive, and from the Barclays Boards and the Group Executive Committee, on March 31, 2011. He will be succeeded by Robert E. Diamond Jr., w

General Growth Settles Stock Drop Suit

Nicole — Tue, 07 Sep 2010 06:35:16 GMT

General Growth Settles Stock Drop Suit Fred Schneyer General Growth Properties, the second-largest U.S. Mall owner, in the process of emerging from bankruptcy, has agreed to a $5.75-million settlement of a 401(k) stock-drop case. Under the terms of the settlement, General Growth’s insurer, St. Paul

PLANSPONSOR Searches for the Nations Best Retirement Plan Advisers

Alison — Mon, 06 Sep 2010 18:25:38 GMT

PLANSPONSOR Searches for the Nation’s Best Retirement Plan Advisers PLANADVISER staff Today PLANSPONSOR opens its annual nomination process for its Retirement Plan Adviser and Adviser Team of the Year awards. Launched in 2005, these Awards recognize the contributions of the nation’s best financia

Satisfied at Work Despite Retirement Worries

Alison — Fri, 03 Sep 2010 15:01:54 GMT

Satisfied at Work, Despite Retirement Worries Nicole Bliman While the vast majority of American workers are satisfied with their jobs, nearly two thirds doubt they will ever be able to retire, according to a survey conducted by StrategyOne . The positive results found by StrategyOne would ma

July Fund Inflows Pegged at 15 4 billion

Nicole — Fri, 03 Sep 2010 10:45:03 GMT

July Fund Inflows Pegged at $15.4 billion PLANADVISER staff Stock and bond funds experienced net inflows of $15.4 billion in July, according to the latest Financial Research Corporation (FRC) data. The Corporate Bond objective led the net inflow category with $17.9 billion, followed by the

NJ-based Adviser Accused of Multi-Million Dollar Scam

Alison — Fri, 03 Sep 2010 09:17:01 GMT

N.J.-based Adviser Accused of Multi-Million Dollar Scam Nicole Bliman The Securities and Exchange Commission (SEC) has charged Sandra Venetis, an investment adviser based in Branchburg, New Jersey, with misleading investors and using their money for personal use. A home for herself and her daugh

Court Dismisses FA Suit over Merrill WealthBuilder

Nicole — Fri, 03 Sep 2010 08:01:11 GMT

Court Dismisses FA Suit over Merrill WealthBuilder Fred Schneyer Merrill Lynch’s WealthBuilder Plan did not violate the Employee Retirement Income Security Act (ERISA) because it was a top-hat plan, a federal judge ruled in throwing out a proposed class-action lawsuit by three financial advisers against the c

Financial Stress Calls Employees to Action

Nicole — Fri, 03 Sep 2010 07:21:10 GMT

Financial Stress Calls Employees to Action Rebecca Moore An analysis from Financial Finesse finds employees reported more financial stress in Q2 2010, but instead of retreating in fear, they were called to action. Twenty percent of calls into Financial Finesse’s Financial Helpline service, were relat

BofA Accused of Gender Discrimination

Nicole — Fri, 03 Sep 2010 10:16:48 GMT

BofA Accused of Gender Discrimination Nicole Bliman Bank of America (BofA) was sued Thursday in Manhattan federal court by four female advisers and trainees; former employees of Merrill Lynch. The women said they were let go by the largest U.S. bank because of gender discrimination. According t

The Principal Finds Text Messages Inspire Retirement Savings

Nicole — Fri, 03 Sep 2010 06:10:16 GMT

The Principal Finds Text Messages Inspire Retirement Savings Rebecca Moore One year after launching a text messaging service for retirement plan participants, The Principal has released data indicating it has improved savings rates and asset allocation. A recent analysis comparing the grou

Comments Endorse Fee Disclosure Flexibility Additional Compliance Time

Nicole — Fri, 03 Sep 2010 05:57:16 GMT

Comments Endorse Fee Disclosure Flexibility, Additional Compliance Time Fred Schneyer A selection of the 44 comments received by the U.S. Department of Labor (DoL) about its pending fee-disclosure rule shows broad support for the rule’s intent, but continued pressure for more regulatory flexibility and time t

Gallagher Makes Another Acquisition

Alison — Thu, 02 Sep 2010 12:40:59 GMT

Gallagher Makes Another Acquisition Nicole Bliman Arthur J. Gallagher & Co. has acquired Old Greenwich Consulting Group based in New York, after acquiring Benefits Unlimited in early August. Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, he

Fidelity Introduces Free iPad App

Alison — Thu, 02 Sep 2010 11:17:22 GMT

Fidelity Introduces Free iPad App Nicole Bliman Investors can download the application specifically designed for the Apple iPad, free of charge, on iTunes For iPad owners who are also participants of employer-sponsored retirement plans provided by Fidelity, they will now be able to check balances,

Bonuses and Commissions Could Face Higher Taxes

Alison — Thu, 02 Sep 2010 10:51:53 GMT

Bonuses and Commissions Could Face Higher Taxes Nicole Bliman The American Payroll Association (APA) issued a statement today to alert the public of the potential hit paychecks will take due to expiring tax cuts. In the statement, the APA says that millions of Americans of all income lev

Court Finds Plan Trustee Could not Act on Knowledge of Breaches

Nicole — Thu, 02 Sep 2010 08:10:37 GMT

Court Finds Plan Trustee Could not Act on Knowledge of Breaches Rebecca Moore A federal court in Illinois ruled that participants of the Antioch Company Employee Stock Ownership Plan are not barred from moving forward with their claim that company fiduciaries and GreatBanc Trust Co. breached their duties unde

New CIO Joins SageView Team

Alison — Thu, 02 Sep 2010 10:14:10 GMT

New CIO Joins SageView Team Nicole Bliman Richard Palmer begins today as the Chief Investment Officer at the SageView Advisory Group based in Irvine, California. Palmer will be coordinating with SageView’s Investment Committee on asset allocations for retirement plans, institutional, and individu

Scout Picks Up Indiana Fixed-Income Shop

Nicole — Thu, 02 Sep 2010 07:21:27 GMT

Scout Picks Up Indiana Fixed-Income Shop Fred Schneyer Scout Investment Advisors, a subsidiary of UMB Financial Corporation, has agreed to acquire Reams Asset Management Company, an investment management firm specializing in fixed-income products. A news release said the transaction is expected to

401k Participant at Fault in Account Withdrawal Dispute

Nicole — Thu, 02 Sep 2010 07:12:34 GMT

401(k) Participant at Fault in Account Withdrawal Dispute Fred Schneyer A federal judge in Oklahoma has cleared a 401(k) plan administrator of wrongdoing in a dispute over whether the employer should be forced to repay the participant for funds his ex-wife took out of his account. U.S. District Judge

Ancora Offers Source Companies Open Architecture Plans

Nicole — Wed, 01 Sep 2010 12:53:05 GMT

Ancora Offers Source Companies’ Open Architecture Plans PLANADVISER staff Ancora Advisors has rolled out Open Architecture 401K products offered through Source Companies A news release from the Cleveland-based Ancora said Source is an independent fee-only investment adviser and provides an open archi

WaMu to Settle Stock Drop Suits for 49M

Nicole — Wed, 01 Sep 2010 12:42:55 GMT

WaMu to Settle Stock Drop Suits for $49M Rebecca Moore A federal court has given preliminary approval of a settlement that would resolve lawsuits alleging breaches of fiduciary duties under the Employee Retirement Income Security Act by Washington Mutual. A news release from law firm Kelle

NAIRPA Comments on SEC Target-Date Fund Proposal

Alison — Wed, 01 Sep 2010 12:44:49 GMT

NAIRPA Comments on SEC Target-Date Fund Proposal Nicole Bliman In a letter to the Securities and Exchange Commission (SEC), the National Association of Independent Retirement Plan Advisors (NAIRPA) calls for “focused disclosure” of target-date funds and said that a summary disclosure may not be enough.

Americans Saving More for Health Care in Retirement

Nicole — Wed, 01 Sep 2010 11:13:57 GMT

Americans Saving More for Health Care in Retirement Rebecca Moore The First Command Financial Behaviors Index reveals that average monthly savings solely for health care costs during retirement climbed to $245 in July, up 42% from a year ago. According to a press release, one in five Americans who s

Hand Benefits Selects Sub-Advisers for Target Date CITs

Nicole — Wed, 01 Sep 2010 11:06:15 GMT

Hand Benefits Selects Sub-Advisers for Target Date CITs Rebecca Moore Hand Benefits & Trust Company has selected Blue Prairie Group LLC (BPG) and Target Date Solutions (TDS) as managers of the SMART Fund target date collective investment trusts. David Hand, CEO of HB&T, said in a press releas

More Workers Choosing Life Insurance Benefit and More Paying for It

Nicole — Wed, 01 Sep 2010 08:45:12 GMT

More Workers Choosing Life Insurance Benefit, and More Paying for It Rebecca Moore A recent national survey of full-time workers by The Hartford Financial Services Group found the overall number signing up for life insurance benefits increased from 64% in 2009 to 69% in 2010. Women showed the bigges

Work Life Balance Still a Concern for Many

Nicole — Wed, 01 Sep 2010 08:35:47 GMT

Work/Life Balance Still a Concern for Many Fred Schneyer Some 89% of respondents to a recent poll said work/life balance is an issue in their lives, including 54% who termed it a "significant problem." Moreover, according to a news release from pollster StrategyOne, 38% say their work/life balance ha

Women Lack Retirement Planning Knowledge but Ready to Learn

Alison — Wed, 01 Sep 2010 09:59:06 GMT

Women Lack Retirement Planning Knowledge, but Ready to Learn Nicole Bliman A survey by Transamerica Center for Retirement Studies released this week shows a grave lack of understanding about retirement planning among working women, but highlights a willingness to learn as a sign of hope. Three

After a Rough August Could September Be Worse

Nevin — Wed, 01 Sep 2010 08:05:25 GMT

After a Rough August, Could September Be Worse? Nevin E. Adams, JD As rough a month as August was for the markets – and this one was the worst since 2001 - September has a tendency to be even rougher. In fact, for the entire 39-year history of the Wilshire 5000 Total Market Index, September is the

Workers Gaining Back Some Retirement Confidence

Nicole — Wed, 01 Sep 2010 06:23:32 GMT

Workers Gaining Back Some Retirement Confidence Rebecca Moore Older workers’ confidence in their ability to retire comfortably has rebounded modestly in the past year, although confidence levels remain well below those prior to the financial crisis. The Towers Watson survey found that the percentage

MassMutual Participants Hang Tight in Q2

Nevin — Tue, 31 Aug 2010 18:02:20 GMT

MassMutual Participants Hang Tight in Q2 Nevin E. Adams, JD MassMutual's Retirement Services Division has released data for the second quarter, but didn’t find much sign of movement, despite the tumultuous markets. The Springfield, Massachusetts-based provider said that 96% of participants record

Advisers Have Growing Preference for Vanguard ETFs

Alison — Tue, 31 Aug 2010 13:02:53 GMT

Advisers Have Growing Preference for Vanguard ETFs Nicole Bliman A Cogent Research report shows advisers gravitating more towards Vanguard ETFs and away from the previous industry leader, iShares. Vanguard outranked iShares in adviser loyalty according to the Cogent “2010 Advisor Brandscape™” rep

Huntington Shifts Strategy of Rotating Markets Fund

Nicole — Tue, 31 Aug 2010 11:46:42 GMT

Huntington Shifts Strategy of Rotating Markets Fund PLANADVISER staff Huntington Funds announced that the Huntington Rotating Markets Fund's (HRITX) investment strategy has shifted from the global market segment to large cap, focusing specifically on the U.S. Dow Jones Industrials. The Rotating Marke

Schwab Finds Pre Retirees not Panicked

Nicole — Tue, 31 Aug 2010 11:06:28 GMT

Schwab Finds Pre-Retirees not Panicked Rebecca Moore The Charles Schwab Q3 Retirement Survey finds 54% of baby boomers ages 50 to 60 do not expect to delay their planned retirement date, despite the recent challenging economic conditions. Thirty-eight percent expect to retire later than they had or

MetLife Offers Retirement Readiness Workbook

Nicole — Tue, 31 Aug 2010 10:41:48 GMT

MetLife Offers Retirement Readiness Workbook Rebecca Moore The MetLife Mature Market Institute is offering its “Retirement Readiness Workbook,” a free tool to help people prepare for and transition into retirement smoothly. The workbook has checklists and directives to assist people in assessing th

Ford Settles Company Stock Suit with Advice

Nicole — Tue, 31 Aug 2010 10:13:18 GMT

Ford Settles Company Stock Suit with Advice Rebecca Moore Ford Motor Co. will provide free financial advice to retirees and employees as part of an agreement to settle a lawsuit claiming the company should not have offered company stock as an investment in its retirement plans. The Detroit News rep

Many Advisers Hesitant to Use Social Media

Alison — Tue, 31 Aug 2010 12:24:02 GMT

Many Advisers Hesitant to Use Social Media Nicole Bliman Although there are financial advisers who have adopted LinkedIn and other sites as part of their business, the vast majority remain on the fence. In the “Independent Advisor Outlook Study” conducted by Charles Schwab in July, advisers

Pfizer Cleared in Stock Option Suit

Nicole — Tue, 31 Aug 2010 07:43:57 GMT

Pfizer Cleared in Stock Option Suit Fred Schneyer Pfizer Inc. did not breach its Employee Retirement Income Security Act (ERISA) responsibilities by giving an employee incorrect information about stock options granted under a non-ERISA plan, a federal appellate court ruled. The 2 nd U.S. Circuit C

More Small Business Owners Delaying Retirement

Alison — Tue, 31 Aug 2010 07:38:41 GMT

More Small-Business Owners Delaying Retirement Nicole Bliman A Wells Fargo survey reveals that a growing majority of small-business owners do not plan to retire before age 65. More small-business owners plan to retire at an older age–fewer plan to retire at a younger age. This is the current

Court Dismisses BofA Stock Drop Case

Nicole — Mon, 30 Aug 2010 13:10:35 GMT

Court Dismisses BofA Stock Drop Case PLANADVISER staff A federal judge has tossed out a stock drop case against Bank of America (BofA) that had alleged numerous fiduciary breaches in connection with BofA’s Merrill Lynch and Countrywide Financial acquisitions. U.S. District Judge P. Kevin Castel of

ASPPA Suggests Change to Providers Covered under Fee Disclosure Regs

Nicole — Mon, 30 Aug 2010 13:03:16 GMT

ASPPA Suggests Change to Providers Covered under Fee Disclosure Regs Rebecca Moore In response to the U.S. Department of Labor Employee Benefits Security Administration’s interim final rule on fee disclosure, the American Society of Pension Professionals & Actuaries (ASPPA) and an affiliated organization

Judge Moves Forward Shareholder Claims against Bank of America

Nicole — Mon, 30 Aug 2010 12:53:36 GMT

Judge Moves Forward Shareholder Claims against Bank of America Rebecca Moore A judge has moved forward claims against Bank of America (BofA) Corp., certain officers, and directors that they concealed intended bonuses and losses at Merrill Lynch & Co after the bank agreed to acquire the investment firm.

Individuals Want Advice on Life Insurance Needs

Nicole — Tue, 31 Aug 2010 05:02:27 GMT

Individuals Want Advice on Life Insurance Needs Rebecca Moore The Trends in Life Insurance Ownership study, conducted every six years by LIMRA, found 24% of households with children under age 18 want to speak with a financial professional about their life insurance needs; and a quarter of all households p

Schwab to Acquire Windward Investment Management

Alison — Mon, 30 Aug 2010 10:59:09 GMT

Schwab to Acquire Windward Investment Management Nicole Bliman The Charles Schwab Corporation is paying $150 million in stocks and cash for Windward Investment Management, an exchange-traded fund (ETF)-focused investment advisory firm headquartered in Boston. The acquisition will enable Schwab t

California Law Firm Probes Possible Fiduciary Breach

Nicole — Mon, 30 Aug 2010 07:26:18 GMT

California Law Firm Probes Possible Fiduciary Breach PLANADVISER staff A Los Angeles-based law firm has launched an ERISA-based fiduciary investigation of Northern Trust. Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP ("Liner") says it has commenced an investigation relating

The Hartford Attempts to Gain Ground in Mid-Market

Alison — Mon, 30 Aug 2010 02:33:44 GMT

The Hartford Attempts to Gain Ground in Mid-Market Nicole Bliman With the introduction of several new initiatives and a new VP, The Hartford Financial Services Group plans to grow their middle market business for 401(k) defined contribution and defined benefit retirement plans. Denise Diana will be

IRS Seeks Roth 401k Input

Alison — Sun, 29 Aug 2010 17:42:57 GMT

IRS Seeks Roth 401(k) Input PLANADVISER staff The Internal Revenue Service (IRS) is looking for some input on Roth 401(k)s. Specifically, the IRS says it is seeking comments on an extension of a collection of information concerning existing final regulations on designated Roth contributions to cash o

IMHO 'Miss' Perceptions?

Application — Mon, 30 Aug 2010 08:10:56 GMT

IMHO: “Miss” Perceptions? Nevin E. Adams, JD Next week we will launch our eighth annual search for the nation’s best retirement plan advisers. Each year, we receive a number of inquiries from advisers about the awards, many that fall into a category I tend to think of as “exploratory”—feele

EBSA to Issue Proposed Rule on ERISA Prohibited Transaction Exemption Procedures

Nicole — Fri, 27 Aug 2010 11:54:07 GMT

EBSA to Issue Proposed Rule on ERISA Prohibited Transaction Exemption Procedures Rebecca Moore The Department of Labor’s Employee Benefit Security Administration is issuing a proposed rule that would supersede the existing procedure governing the filing and processing of applications for administrative exemp

DoJ Sues Adviser for Tax Fraud Related to Sham Benefit Plans

Nicole — Fri, 27 Aug 2010 10:18:01 GMT

DoJ Sues Adviser for Tax Fraud Related to Sham Benefit Plans PLANADVISER staff The United States has asked a federal court to permanently bar a California man from promoting alleged sham pension-plan and welfare-benefit-plan tax fraud schemes. The Justice Department announced that the civil injunct

Retirement Income New and Improved

Alison — Thu, 26 Aug 2010 19:09:16 GMT

Feature: New and Improved Elayne Robertson Demby Retirement income solutions are new and different. Coming out of the 2008 financial mess were tales of scores of workers delaying retirement and retirees returning to work. “We all know people who planned to retire but couldn’t after the fourth quart

Caterpillar Moving More Workers to 401k

Alison — Thu, 26 Aug 2010 19:08:00 GMT

Caterpillar Moving More Workers to 401(k) Rebecca Moore Caterpillar Inc. said management, support and other nonunion employees in the U.S. will switch from a defined benefit pension plan to a 401(k) plan beginning in 2011. Most current employees will have their pensions frozen when the change takes e

A New Look at the Importance of Income Replacement

Alison — Wed, 25 Aug 2010 16:01:26 GMT

Perspective: Guaranteed Lifetime Payments Robert Kaplan A New Look at the Importance of Income Replacement Whether implementing, administering or participating in a workplace retirement plan, the emphasis all too often is on “accumulation” and helping employees build up assets during their eligib

SPARK Adds to Q and A for 403b Best Practices

Alison — Wed, 25 Aug 2010 10:30:32 GMT

SPARK Adds to Q&A for 403(b) Best Practices PLANSPONSOR staff The SPARK Institute has posted more than 20 answers to new questions it has received regarding its 403(b) Plans Information Sharing Data Elements Best Practices and Best Practices for Multiple Vendor Plans Remittance and Census Data Elements.

New Retirement Plan Consultancy Office Opening in Birmingham Alabama

Alison — Wed, 25 Aug 2010 12:19:45 GMT

CPI Opens Birmingham Office Nicole Bliman CPI Qualified Plan Consultants will be opening an office in Birmingham, Alabama, with Wayne Bosch at the helm. Bosch will work with plan sponsors and their financial advisers to design and develop qualified and non-qualified retirement plan programs. Bosc

Survey of Independent Advisers Shows a Growing Optimism

Alison — Wed, 25 Aug 2010 12:05:22 GMT

Survey of RIAs Shows Growing Optimism Nicole Bliman The Charles Schwab Independent Advisor Outlook Study indicates that while advisers see cause to be optimistic, their clients are more unsure. Despite a market that continues to show signs of a struggle, independent registered investment advise

MetLife Offers Tool to Benchmark Benefits Offerings

Alison — Wed, 25 Aug 2010 06:44:32 GMT

MetLife Offers Tool to Benchmark Benefits Offerings Rebecca Moore MetLife has announced the availability of its enhanced Web-based Benefits Benchmarking Tool, designed to help employers and brokers deliver strategic benefits decisions and recommendations. Through customized data searches, the to

Intl Global Bonds Seen as Hot Growth Sector

Alison — Wed, 25 Aug 2010 07:01:29 GMT

Intl./Global Bonds Seen as Hot Growth Sector Fred Schneyer With the renewed emphasis on investment risk management and portfolio diversification driven by the down economy, Cerulli Associates predicts international/global fixed income will be the next big product growth area. Declaring that “the

Manning and Wallace Tapped for DailyAccess Sales Posts

Alison — Tue, 24 Aug 2010 12:29:36 GMT

Manning and Wallace Tapped for DailyAccess Sales Posts PLANSPONSOR staff Michael Manning and Jeffrey Wallace have been named Regional Sales Directors for the DailyAccess Corporation. A company announcement said Manning will operate in the Northwest Region, while Wallace will represent the Mobile,

Financial Literacy should start at a young age, survey finds

Alison — Tue, 24 Aug 2010 11:11:43 GMT

Financial Literacy Should Start at a Young Age, Survey Finds Nicole Bliman A recent TD Bank survey examined the confidence levels of those with varying degrees of financial literacy. The results of the survey of 2,160 consumers show that those most confident in their ability to make wise fin

Sentinel Benefits to Open New Office in North Carolina

Alison — Tue, 24 Aug 2010 09:16:48 GMT

Sentinel Benefits to Open New Office in North Carolina Rebecca Moore Sentinel Benefits & Financial Group (SBFG) has named Vanessa Watkins as Vice President. Watkins will open a new sales office in Charlotte, North Carolina for SBFG. She will be in charge of building strategic alliances for S

ING Names President of Individual Retirement Investor Channel

Alison — Tue, 24 Aug 2010 07:39:09 GMT

ING Names President of Individual Retirement Investor Channel Rebecca Moore ING has named Dan Hanlon president of its Investor Channel within its Individual Retirement business. Hanlon will lead a team responsible for providing guidance and sales support to the more than 6.4 million individuals curre

John Hancock to Offer both To and Through Lifecycle Choices

Alison — Tue, 24 Aug 2010 07:40:39 GMT

John Hancock to Offer both “To” and “Through” Lifecycle Choices Rebecca Moore John Hancock Retirement Plan Services (RPS) announced it will offer two suites of Lifecycle portfolios, providing participants a choice in 401(K) asset allocation options. The n ew Retirement Choices target-date por

Adhesion Wealth Advisor Solutions Releases New iPad App

Fred — Tue, 24 Aug 2010 06:00:23 GMT

Adhesion Wealth Advisor Solutions Releases New iPad App Sara Kelly A new enhancement from Adhesion Wealth Advisor Solutions makes RIA portfolios and performance reports available to clients on their iPads. According to a recent announcement, this client portal enhancement marks the first installme

Wilmington Trust Names Baldwin Moody to Risk Management Role

Alison — Mon, 23 Aug 2010 10:15:05 GMT

Wilmington Trust Names Baldwin Moody to Risk Management Role PLANSPONSOR staff Wilmington Tryst has hired Carol Baldwin Moody as senior vice president and chief risk officer to head a newly centralized Enterprise Risk Management Division. A news release said Baldwin Moody, an attorney and 25-year fi

Northern Trust New Hire to Increase Exposure to Public Funds Market

Alison — Mon, 23 Aug 2010 08:30:27 GMT

Northern Trust New Hire to Increase Exposure to Public Funds Market Rebecca Moore Northern Trust announced that Luke Howe has joined the Client Solutions Group at its asset management arm, Northern Trust Global Investments (NTGI). Howe will be responsible for marketing investment products to pub

Chatham Partners Announces Director of Multi-Client Research

Alison — Mon, 23 Aug 2010 08:28:39 GMT

Chatham Partners Announces Director of Multi-Client Research Rebecca Moore Chatham Partners announced that Luis Fleites has joined the firm as Vice President and Director of Multi-Client Research. In this role, Fleites will generate market research studies on topics of interest to institutio

IMHO Double Dipping

Nevin — Sun, 22 Aug 2010 15:47:29 GMT

IMHO: Double Dipping? Nevin E. Adams, JD Last week, Fidelity published some data from their quarterly analysis of participant activity. For the very most part, the data (see Fidelity Finds Q2 Uptick in 401(k) Withdrawals ) revealed what we have come to expect from such reviews

Hartford Shakes Up Wealth Management Unit

Nevin — Fri, 20 Aug 2010 10:09:52 GMT

Hartford Shakes Up Wealth Management Unit Alison Cooke Mintzer The Hartford is restructuring its Wealth Management unit, breaking it into four segments: global annuities, mutual funds, retirement plans, and individual life, under wealth management president David Levenson. Jim Davey, formerly executiv

TPA Opens Florida Office

Sara — Fri, 20 Aug 2010 06:26:20 GMT

TPA Opens Florida Office Rebecca Moore Martin, Martin, Randall & Associates, Inc. announced the return of Paul Rossie as Regional Sales & Marketing Consultant to open an Orlando office. According to the announcement, Rossie brings more than 28 years of retirement plan experience to MMR

McColgan Joins Primerica Board of Directors

Fred — Fri, 20 Aug 2010 06:53:30 GMT

McColgan Joins Primerica Board of Directors Sara Kelly Ellyn McColgan, the former head of wealth management at Morgan Stanley, has joined the board of financial services firm Primerica Inc., according to a recent announcement. McColgan left her position as president and COO of the global w

Participant Transfers in July Remain Fixed Income Oriented

Sara — Mon, 16 Aug 2010 12:18:53 GMT

Participant Transfers in July Remain Fixed Income Oriented Rebecca Moore Despite the market rally, the direction of the total transfers in July remained fixed income-oriented, according to the results of the Hewitt 401(k) Index. Approximately $449 million (or 0.42% of total assets) moved from eq

Managed Account Asset Diversity Means Rise in ETF Use

Sara — Mon, 16 Aug 2010 07:05:38 GMT

Managed Account Asset Diversity Means Rise in ETF Use Fred Schneyer A new Cerulli Associates report asserts that exchange-traded funds (ETFs) will gain an even stronger market foothold because of increased adviser-driven demand for asset diversity and flexibility in the managed account space. In

IMHO Mandatory Sentences

Nevin — Mon, 16 Aug 2010 02:55:26 GMT

IMHO: “Mandatory” Sentences Nevin E. Adams, JD We have long lamented the reality that only about half of this nation’s workers have access to some kind of workplace-based retirement vehicle, and with good reason. Well, we now have bills introduced in the Congress, both House and Senat

Milwaukee Company Pays Back Reduced Wages and Match

Sara — Fri, 13 Aug 2010 06:01:56 GMT

Milwaukee Company Pays Back Reduced Wages and Match PLANSPONSOR staff In announcing financial results for its fourth quarter and fiscal year ended June 27, 2010, Briggs & Stratton Corporation said it has paid back wages and 401(k) match previously reduced. “We are also pleased that our fin

Q210 TUCS Drops 4.7

Sara — Fri, 13 Aug 2010 06:00:50 GMT

Q210 TUCS Drops 4.7% Fred Schneyer Master Trusts reversed course during the second quarter, falling 4.74% and resulting in a one-year return of 12.53% according to the Wilshire Trust Universe Comparison Service (TUCS). A Wilshire news release said public plans underperformed the other plan spon

ETF Flows Totaled 7.5B in July

Sara — Thu, 12 Aug 2010 07:07:20 GMT

ETF Flows Totaled $7.5B in July PLANSPONSOR staff July saw investors put $7.5 billion into U.S. Exchange-Traded Funds (ETFs), according to Strategic Insight (SI), an Asset International company. An SI news release estimated that U.S. ETF assets ended July at $831 billion, just off the April peak

Funds See 25B in July Flows

Sara — Thu, 12 Aug 2010 07:06:24 GMT

Funds See $25B in July Flows PLANSPONSOR staff Driven by ongoing demand for bond funds, U.S. mutual fund investors added about $25 billion in net new cash to U.S. stock and bond mutual funds in July 2010, according to Strategic Insight (SI), an Asset International company. An SI news release said

July Fund Flows Edge up to 14B

Sara — Wed, 11 Aug 2010 12:24:25 GMT

July Fund Flows Edge up to $14B PLANSPONSOR staff Flows into U.S. open-end funds increased slightly in July to $14.1 billion versus $13.5 billion in June, according to the latest Morningstar fund flow data. A news release said the July fund flow change may have been small, but this difference und

ETF Assets Increased 50B in July

Sara — Tue, 10 Aug 2010 09:35:37 GMT

ETF Assets Increased $50B in July Rebecca Moore Exchange-traded fund (ETF) industry assets rose $50 billion for the month of July – up 6.5%, according to the State Street Global Advisors (SSgA) ETF Snapshot. As of July 31, 2010, 917 ETFs, with assets totaling $822 billion, were managed by 33 ETF

July Brings Modest Pension Funding Recovery

Sara — Tue, 10 Aug 2010 07:31:27 GMT

July Brings ‘Modest’ Pension Funding Recovery PLANSPONSOR staff After nearing record deficits at the end of June, U.S. pension plan funded positions have recovered modestly during July thanks mostly to rising equity markets, according to Mercer. A Mercer news release said the deficit in pension p

Q2 Bleak in BNY Mellon Master Trust Arena

Fred — Mon, 09 Aug 2010 07:05:34 GMT

Q2 Bleak in BNY Mellon Master Trust Arena Fred Schneyer The median plan in the BNY Mellon U.S. Master Trust Universe posted a -4.87% return for the second quarter of 2010. A BNY Mellon news release said that was more than eight percentage points lower than last quarter, and ended a run of four conse

IMHO Wrong Headed Part 2

Nevin — Sat, 07 Aug 2010 12:35:45 GMT

IMHO: "Wrong" Headed?—Part 2 Nevin E. Adams, JD Last week’s column presented half of a list that I titled “10 things you’re probably STILL doing wrong as a plan fiduciary.” As I mentioned then, this is a compilation based on my experience, the experiences of a group of experts who conducted

June Fund Flows Reported at 25 Billion

Rebecca — Thu, 05 Aug 2010 12:49:21 GMT

June Fund Flows Reported at $25B Fred Schneyer Stock and bond funds experienced June net inflows of $25.5 billion according to new Financial Research Corporation (FRC) data. FRC said the Corporate Bond objective led the net inflow category with $12.5 billion, followed by the Government Bond objective

Perspective Sweaty Palms and Constricted Throats part 2

Alison — Tue, 03 Aug 2010 04:49:39 GMT

Perspective: Sweaty Palms and Constricted Throats (part 2) E. Thomas Foster Jr. When the IRS points out retirement plan mistakes, avoid the ‘flight or fight’ urge This column is the second installment of a two-part series on common mistakes by 401(k) plans. Having someone point out a mistake we

Doll Says No Boom but Better Investing Conditions in Next Decade

Fred — Mon, 02 Aug 2010 10:30:19 GMT

Doll Says No Boom but Better Investing Conditions in Next Decade The investing environment for the next 10 years won’t match the boom conditions of the 1980s and 1990s, but will be much better than that of the decade just ended, according to “10 Predictions for the Next 10 Years” developed by Robert C. Doll

IMHO Wrong Headed

Nevin — Sun, 01 Aug 2010 12:07:48 GMT

IMHO: "Wrong" Headed? Nevin E. Adams, JD In this as, perhaps, many professional endeavors, it seems that the more you know, the more you know you don’t know. Moreover, the standards imposed on plan fiduciaries by the Employee Retirement Income Security Act (ERISA) are not only demanding, th

Less Active Investors Seeking Help

Fred — Fri, 30 Jul 2010 09:23:34 GMT

Less Active Investors Seeking Help Rebecca Moore Fidelity Investments has released research data that finds varying investor reaction and behavior to the ongoing market volatility. The firm recently polled active investors -- those highly engaged individuals who trade 36 or more times a year, and g

Private Equity Sees Modest Gain in Q1 2010

Fred — Thu, 29 Jul 2010 12:06:59 GMT

Private Equity Sees Modest Gain in Q1 2010 For the quarter ended March 31, 2010, the State Street Private Equity Index posted a 2.22% return . According to a press release, this was 372 basis points lower than the fourth quarter of 2009 return and 868 basis points higher than the return rec

Fixed Income ETFs Continue Growth

Fred — Thu, 29 Jul 2010 09:52:02 GMT

Fixed Income ETFs Continue Growth Exchange traded fund (ETF) industry assets in the U.S. decreased 0.4% during the first half of 2010, as investors held $772 billion in 897 ETFs as of June 30, 2010, according to State Street Global Advisors (SSgA). The growth of fixed income ETF assets, which incr

IMHO The Duty To Ask

Nevin — Mon, 26 Jul 2010 04:01:33 GMT

IMHO: The Duty To Ask Nevin E. Adams, JD Last week I mentioned a revenue-sharing case that could have far-reaching implications. That case, Tibble v. Edison International , was decided earlier this month (see “ Court Buys Retail vs. Institutional Share Fee Claims ” ) and, IM

AARP to Liquidate Mutual Funds

Sara — Fri, 23 Jul 2010 12:20:32 GMT

AARP to Liquidate Mutual Funds PLANSPONSOR staff AARP said it will liquidate its lineup of stock and bond funds. The termination of the group's funds, which have a total of about $160 million in assets, is expected to occur around October 1, said Richard "Mack" Hisey, AARP Funds' president, in

Aon Explores Alternative Remuneration

Fred — Wed, 21 Jul 2010 07:40:46 GMT

Aon Explores Alternative Remuneration Sara Kelly Aon Corp. announced today that it will resume accepting various forms of compensation for its brokerage business where appropriate. According to a recent announcement, the Chicago-based broker will accept all compensation ―including supplemental and

IMHO Not-So-Quiet Period

Nevin — Sat, 17 Jul 2010 19:34:29 GMT

IMHO: Not-So-Quiet Period Nevin E. Adams, JD Remember when it used to be quiet in July? Not so this past week, with the announcement of two major retirement industry acquisitions, a significant update on fee disclosure regulations, and a ruling in a revenue-sharing case that could have

ETF Assets Fall in June

Sara — Wed, 14 Jul 2010 12:51:32 GMT

ETF Assets Fall in June Rebecca Moore State Street’s latest ETF Snapshot reveals assets in the U.S. exchange traded fund (ETF) industry totaled approximately $772 billion as of June 30 – down $11.7 billion or 1.5% during the month. Through the first half of the year, ETF assets were dow

Vanguard Touts Auto Design Advantages

Sara — Wed, 14 Jul 2010 12:46:26 GMT

Vanguard Touts Auto Design Advantages Fred Schneyer About a quarter of eligible defined contribution plans recordkept at the Vanguard Group are using Vanguard’s auto plan design, up from only about 1% in 2005. Among all Vanguard DC plans using auto enrollment in 2009, the average participati

Custom TDFs the Prime DCIO Opportunity

Fred — Tue, 13 Jul 2010 11:25:50 GMT

Custom TDFs the Prime DCIO Opportunity Rebecca Moore Cerulli Associates contends the growth opportunity for defined contribution investment only (DCIO) asset managers lies within custom target-date funds built for large plans (those with between $100 million and $500 million) and mega plans (those with more

Some Say Financial Planners More Important Since Financial Crisis

Sara — Tue, 13 Jul 2010 09:33:15 GMT

Some Say Financial Planners More Important Since Financial Crisis Rebecca Moore A new national opinion poll conducted for Certified Financial Planner Board of Standards finds nearly two out of three Americans (65%) are more concerned about their finances today than they were at the beginning of the financial

PERSPECTIVE 5 Steps to Jump Start Your Social Networking Presence

Nevin — Mon, 12 Jul 2010 17:11:12 GMT

PERSPECTIVE: 5 Steps to Jump Start Your Social Networking Presence Sheri Fitts, Director Communications, Large Plan Sales, The Standard If you’re an advisor new to the social media scene, take some time to jump start your networking presence! Start with these five simple steps.

How to Encourage Small Businesses to Not Eliminate Their Retirement Plan

Nevin — Mon, 26 Jul 2010 09:16:15 GMT

Perspective: How to Encourage Small Businesses to Not Eliminate Their Retirement Plan John Guido Despite the market's volatility, company-sponsored plans remain a valuable tool Given the challenging economic environment, many small companies continue to look for ways to reduce their expenses. For som

IMHO Thinking Caps

Nevin — Mon, 12 Jul 2010 03:26:51 GMT

IMHO: “Thinking” Caps Nevin E. Adams, JD While the spate of revenue-sharing suits has—for the moment, anyway—faded into the background, fees remain one of the most hotly debated topics in our industry. If anything, the intensity has heightened in recent weeks, as we near the Fo

Brand is the Thing

Fred — Fri, 09 Jul 2010 06:07:27 GMT

Brand is the Thing Rebecca Moore Post-recession, asset management firms are finding that brand is key to attracting clients. “The financial crisis helped to level the asset management playing field, creating opportunities for different firms to capture a larger share of industry long-term mutual fu

IMHO Prudent Mien

Nevin — Sat, 03 Jul 2010 16:08:12 GMT

IMHO: Prudent Mien? Nevin E. Adams, JD Anyone who has been paying attention to 401(k) plan litigation these past several years knows that a common trigger—perhaps the most common trigger—for litigation is the presence of company stock. More specifically, the target is the presence of company s

Reconstitution of Russell Global Index Completed

Sara — Wed, 30 Jun 2010 10:15:27 GMT

Reconstitution of Russell Global Index Completed PLANSPONSOR staff Russell Investments has completed the annual realignment of the Russell Global Index and added 1,190 stocks to the equity benchmark. With 10,590 stocks from 61 countries, the Russell Global Index currently shows a total market ca

IMHO Free Wills

Nevin — Mon, 28 Jun 2010 03:17:56 GMT

IMHO: “Free” Wills Nevin E. Adams, JD Over the weekend, I reacquainted myself with that episode of the HBO miniseries “John Adams” titled “Independence.” As a writer and editor, I watched with a special appreciation the part where Benjamin Franklin and John Adams are “tweaking” Thomas Jeffe

Mutual Fund Flows Retreat in May

Sara — Thu, 24 Jun 2010 10:06:52 GMT

Mutual Fund Flows Retreat in May Rebecca Moore Stock and bond funds experienced net outflows of $2.9 billion in May, according to data from the Financial Research Corporation (FRC). The Corporate Bond objective led the net inflow category with $4.3 billion, followed by the Tax-Free Bon

IMHO QDIA Essentials

Nevin — Sun, 20 Jun 2010 23:58:22 GMT

IMHO: QDIA Essentials Nevin E. Adams, JD PLANSPONSOR ’s National Conference last week featured a series of panels titled “Five Things You Need to Know About…” focused on a series of topics. One of those was qualified default investment arrangements, or QDIAs—and while the “five things” that f

Advisers Say Financial Crisis Good for Practices

Alison — Wed, 16 Jun 2010 17:27:48 GMT

Advisers Say Financial Crisis Good for Practices Alison Cooke Mintzer In light of the economic downturn, advisers have tightened the relationships with their clients, according to a new survey. In fact, two-thirds of advisers responding to the MetLife Lessons Learned Advisor Poll believe that the financial cr

Advisers Not Discussing Roth Conversion Opportunity

Alison — Wed, 16 Jun 2010 13:56:11 GMT

Advisers Not Discussing Roth Conversion Opportunity Alison Cooke Mintzer Although 58% of advisers say their clients earn more than is needed to make the Roth IRA conversion under the new rules, a surprisingly small proportion of these high earners have had Roth conversion discussions with, or analysis done by, th

IMHO Going Concerns

Nevin — Mon, 14 Jun 2010 01:57:55 GMT

IMHO: “Going” Concerns Nevin E. Adams, JD “When the going gets tough, the tough get going,” or so goes the old saying. It’s a saying with the requisite amount of bravado to stiffen one’s upper lip and shore up one’s resolve as we plough through yet another tough market cycle; a period in which, by

Perspective-Insights into Automatic Enrollment

Alison — Thu, 10 Jun 2010 03:15:26 GMT

Perspective: Insights into Automatic Enrollment Robert M. Kaplan Is it automatically the right strategy for your clients? Encouraging more Americans to save into a defined contribution retirement plan – when one is offered at the workplace – is an important focus of both Congress and our government’s regulato

RIAs Continue to Pull in Clients Show Optimism for Economic Recovery

Alison — Wed, 09 Jun 2010 12:29:05 GMT

RIAs Continue to Pull in Clients, Show Optimism for Economic Recovery Ellie Behling Most (68%) registered investment advisers (RIAs) said they have increased the number of clients over the last six months, up 13% over the previous quarter, according to a poll by TD AMERITRADE Institutional. The quarterly surv

IMHO Left Field

Nevin — Sun, 06 Jun 2010 21:27:54 GMT

IMHO: “Left” Field Nevin E. Adams, JD I participate in a number of LinkedIn groups (and “sponsor” a couple). In one of those groups last week, a member said they were interviewing potential new 401(k) recordkeepers/advisers—and asked a provocative question: What is the one question that you will be

IRI--Annuity Buyers Flock to Lifetime Income Guarantees

Ellie — Thu, 03 Jun 2010 12:08:14 GMT

IRI: Annuity Buyers Flock to Lifetime Income Guarantees PLANADVISER Staff More than 81% of variable annuity purchasers opted for a lifetime guarantee of income in the first quarter, according to a survey by an insurance trade group. The Insured Retirement Institute (IRI) said the most popular lifetime guaran

Most RIAs Lack Formal Succession Plan

Alison — Thu, 03 Jun 2010 09:33:53 GMT

Most RIAs Lack Formal Succession Plan Ellie Behling While most surveyed registered investment advisers (RIAs) said succession planning is important to their clients, less than half of RIAs have a formal plan. The quarterly survey of RIAs by TD AMERITRADE Institutional found that more than half (57%) of RIAs

IMHO Compliance Deportment

Nevin — Mon, 31 May 2010 20:04:22 GMT

IMHO: Compliance 'Deportment' Nevin E. Adams, JD Recently, the Internal Revenue Service (IRS) announced that it was sending a questionnaire out to about a thousand 401(k) plan sponsors. The IRS said it developed the questionnaire because of the “critical role 401(k) plans play in our private retiremen

Study--20 Percent of Wirehouse Brokers Will Leave Firms in Next 18 Months

Alison — Wed, 26 May 2010 12:14:34 GMT

Study: 20% of Wirehouse Brokers Will Leave Firms in Next 18 Months Ellie Behling About one in 10 brokers reported that they are very unsatisfied with their firms, according to a new survey. A study by Aite Group of wirehouse advisers and other brokers found a continued appetite among some brokers to “break aw

IMHO Decision Decisions

Nevin — Sun, 23 May 2010 20:03:03 GMT

IMHO: Decision Decisions Nevin E. Adams, JD As a parent, you spend a lot of time telling your kids what to do, and perhaps more time than you think you should convincing them that it was their idea If you’re lucky, you get to watch them make the “right” choices on their own—and to see them turn out well in

Advisers Plan to Add More Retirement Services to Practices

Alison — Mon, 10 May 2010 10:33:30 GMT

Advisers Plan to Add More Retirement Services to Practices Ellie Behling Many financial advisers are considering adding more services when helping clients plan for retirement, a new survey suggests. A survey by asset management consulting firm kasina and Horsesmouth’s FA Vision service found that less than ha

Advisers Look to Peers for Business Tips

Alison — Wed, 05 May 2010 09:44:56 GMT

Advisers Look to Peers for Business Tips Ellie Behling Most financial advisers believe they can learn how to make their business more efficient and effective through their peers, according to the latest SEI Quick Poll. In fact, nearly all (90%) poll participants said that learning best practices of peers is i

Wells Fargo Advisory Business Sees Jump in Profit and Advisers

Alison — Thu, 22 Apr 2010 09:24:49 GMT

Wells Fargo Advisory Business Sees Jump in Profit, Advisers Ellie Behling Wells Fargo & Co.’s Wealth Brokerage and Retirement Group saw increasing revenues driven by growth in asset-based fees and brokerage transactions, the firm said. Yet despite the success in its advisory business, Wells Fargo saw a dr