News

PGIM Names Linda Gibson New CEO of QMA

The appointment comes as the firm is preparing to rebrand the quantitative equity and multi-asset solutions specialist to be called PGIM Quantitative Solutions and as it prepares to launch a dedicated defined contribution unit. 

Revenue Sharing Disclosure Failures Result in SEC Action

A recent cease-and-desist order filed by the Securities and Exchange Commission underscores the fact that revenue sharing among financial advisers and ‘parties in interest’ is not necessarily an inherent problem—but a failure to disclose the relationship and the potential for conflict is.

CommonSpirit ERISA Suit Dismissed

In its rejection, the court said the plaintiff, who took issue with the plan’s use of the Fidelity Freedom Funds TDF series, did not allege facts that proved imprudent conduct.

Protecting Elderly Clients From Financial Abuse

Sources offer lessons learned from thousands of potential elder abuse investigations, highlighting red flags and revealing the harm that can befall clients; for example, those victimized by a loved one lose nearly three times as much on average to fraud or theft as those victimized by a stranger.

Weighing Active Management in DC Plans

Experts continue the debate about actively managed funds in light of a publication from the CFA Institute Research Foundation which asks, ‘Is active management worth it?’

Retirement Industry People Moves

Investment Adviser Association enters partnership with ACA; Hub acquires Millennium Advisory Services; Dechert hires employee benefits and executive compensation partner; and more.

SEC Sanctions Offer New Cybersecurity Guideposts

One former SEC enforcement leader says actions against several advisory firms that allegedly had cybersecurity failures make a clear case for the use of multifactor authentication—but that’s just the beginning of cybersecurity.
Art by Jackson Epstein

Investment Product and Service Launches

J.P. Morgan AM launches lifetime income solution; Allianz Life Partners with iJoin and IPX to offer guaranteed income option; Janus Henderson Launches Five Actively Managed Sustainable Exchange-Traded Funds; and more.