Retirement Industry People Moves
BNY Mellon appoints financial institutions head; Ascensus selects head of sales for FuturePlan; Pentegra adds new regional director; and more.
Court Filing Details $13M UPenn 403(b) Lawsuit Settlement
Emergence of the settlement details comes after the filing of a stay motion in December.
Advisers Giving Back: Rita Fiumara and the Financial Literacy Gap
Retirement Plan Trustee Faces Cybersecurity-Related Lawsuit
The lawsuit says the trustee failed to prevent a fraudulent distribution from a participant's account and is failing to take responsibility.
Investment Product and Service Launches
Broadridge Financial Solutions collaborates with AI company; Franklin Templeton releases research hub; Morningstar launches market insights platform; and more.
15th Anniversary of RPAY: 401k Advisors Intermountain
The 2017 PLANSPONSOR Large Adviser Team of the Year has gone through two major acquisitions in the past three years.
Best Candidates for Annuities
Dueling Dismissal Motions Denied in BlackRock Self-Dealing Lawsuit
The ruling states there are genuine disputes of material facts as to make summary judgement, whether in favor of the plaintiffs or the defense, inappropriate at this time.
Common Mistakes Advisers Make That Should be Avoided
Experts outline several ways advisers can ensure they keep the loyalty of their clients.
Missing Participant Guidance Released by DOL
The guidance includes best practices for locating missing participants in addition to best practices for documenting efforts to do so.
HUB International Acquires Alpha Pension Group
The acquisition is expected to be one of many that HUB will enact in 2021.
DST Systems, Investment Manager Settle Lawsuit Over Risky Retirement Plan Investment
The lawsuit said the DST Systems Inc. profit sharing and 401(k) plans were invested too much in Valeant Pharmaceuticals.
Latest Relief Package Extends Provisions for Small Business Employers
A Buckingham Advisors webinar shared details of the second round of Paycheck Protection Program loans and tax credits implemented with the new legislation.
15th Anniversary of RPAY: Capital Strategies Investment Group
The practice’s leaders say all decisions made for a plan must improve participants’ retirement readiness, which they describe as a top priority.
Vail Resorts Wins Dismissal of ERISA Fiduciary Breach Lawsuit
The Vail Corp. has skied past a fiduciary breach lawsuit, which was dismissed with prejudice in a detailed ruling.
401(k) Plan Administrator Sues VALIC Over Surrender Fees Charged to Plan
The insurer is charged with engaging in a prohibited transaction under ERISA when the fees were charged during a move to a new provider, as well as with self-dealing.
Plaintiffs Petition SCOTUS in Wells Fargo Stock-Drop Litigation
The plaintiffs’ plea to the Supreme Court questions the precedents set by Fifth Third v. Dudenhoeffer—a 2014 high court ruling that significantly raised the pleading standards for ERISA stock-drop lawsuits.
15th Anniversary of RPAY: Heffernan Financial Services
Despite the lack of in-person communication in 2020, the practice has gained a fair amount of new business by disseminating promotional videos.
Retirement Industry People Moves
Mercer Advisors acquires Atlanta wealth management firm; Wagner Law Group appoints partner; PCS Retirement acquires ABGRM; and more.
Economic Recovery Started in 4Q20, Charles Schwab Says
The lingering question is what speed the recovery will take.