Investment Product and Service Launches
PGIM Investments to acquire Green Harvest Asset Management; ProShares launches first U.S. Bitcoin-linked ETF; Pacific Life introduces Invesco V.I. defined outcome funds; and more.
New Benartzi Paper Dissects Narrow Framing Phenomenon
Would you accept a bet in which you win $200 if a coin lands on heads and lose $100 if it lands on tails? What if you could play twice?
BPAS Adds Another Tool to Prevent Benefit Account Fraud
A person requesting certain assistance through the the firm's participant service center or other means may be required to go through additional scrutiny using a live video identity verification process.
Raymond James Rolls Out Alerts Portal and Succession Planning Platform
In addition to easing the burden of succession planning, the firm is seeking to create more efficient collaboration among financial advisers and their teams.
Taxpayers Association Seeks Supreme Court Review of ERISA Pre-emption Case
The plaintiffs in the case believe California should not be permitted to operate the CalSavers Retirement Savings Program on the grounds that its establishment violates federal ERISA pre-emption rules—claims rejected by both a district and an appellate court.
Many Participants Are Leaving Money on the Table
Despite significant progress made in recent years, research suggests millions of working Americans are missing out on the full retirement plan match offered by their employer.
Settlement in Dignity Health Church Plan Lawsuit Gets Preliminary Approval
Given a third shot, a judge found the parties finally got the settlement terms right.
Cumulus Media Granted Summary Judgment in 401(k) Excessive Fee Suit
A court found a separation agreement signed by the plaintiff when his employment with the company terminated precludes the lawsuit.
Advocacy Continues for Retirement-Related Provisions in Budget Draft, Other Bills
Industry professionals who work with lawmakers in Washington say they remain hopeful that retirement security issues will be addressed in the federal government’s budget for fiscal year 2022.
Well-Funded HSAs Are a Retirement ‘Superpower’
Having an HSA going into retirement is ‘incredibly powerful,’ experts say, because money is being saved and spent as efficiently as possible.
A Year of Disruption Spotlights Tech, Cybersecurity
Advisers are increasingly focused on Social Security marketing, technology that can deliver investment personalization, and cybersecurity.
Market Watchers Focus on Inflation
Some capital markets experts say the ‘transitory message’ on inflation from the U.S. Federal Reserve is beginning to overstay its welcome.
Only 31% of Hispanic Workers Participate in a Workplace Retirement Plan
Morningstar says there are several factors besides lower income that could contribute to the lower savings relative to other demographic groups.
Retirement Industry People Moves
SageView adds Bloomfield Hills wealth practice; ExamFX acquires Training Consultants; BNY Mellon launches Pershing X; and more.
Plaintiffs Claim Deloitte Breached ERISA Prudence Duties
Arguments in the new case closely resemble previous lawsuits filed against other firms citing the ERISA fiduciary duties of prudence and of monitoring fiduciaries.
Investment Product and Service Launches
Broadridge enhances fiduciary toolkit for advisers; GoalPath makes managed accounts available on iJoin; BlackRock announces option to include annuities in target-date strategies; and more.
Millennial Women Lead the Way in Non-Retirement Investing
Fidelity reports it has seen unprecedented growth in women opening new retail investing accounts, plus a record-high average of 9.2% contributions to DC retirement plans.
Aon Triumphs in ERISA Suit Over Lowe’s Investments
A judge determined the firm didn’t breach its ERISA fiduciary duties when it encouraged Lowe’s to move more than a billion dollars in plan assets to one of Aon’s own investment funds.
Morningstar, PAi Partner on ESG PEP
The objective of the new pooled employer plan will be to create as close to a complete environmental, social and governance investment lineup as possible.
DOL Announces Anticipated ESG Fiduciary Investing Rule
Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them will inevitably lead to better long-term risk-adjusted returns.