IM releases institutional portfolio data tool; Vantagepoint implements private alternative assets; Avantis selects State Street as ETF service provider; and more.
The lawsuit alleges that GoalMaker served Prudential’s interests at the expense of participants’ by funneling retirement savings into proprietary investment products and into investments that paid revenue sharing to Prudential.
The investment firm will be shifting all of its focus to its CIT target-date series.
Financial Finesse enterprise (FFe) is focused on serving financial services firms seeking to evolve their impact by providing participants with access to financial coaching resources designed to accommodate all life stages.
Linking health care and wealth management; maximizing practice efficiency and cross-selling opportunities; addressing individuals' insurance and financial wellness needs—Hub’s new retirement plan specialist advisers hope to do all of this and more.
While trading during the month favored fixed-income funds, with the positive stock market movements, average asset allocation in equities increased from 67.1% in September to 67.3% in October.
The firms’ leaders say they have complementary capabilities and talent to enhance the combined organization’s services for advisers.
According to the SEC, Morgan Stanley Smith Barney’s share class calculator had two operating errors that caused it not to provide the most beneficial share class to eligible customers; the firm was also accused of not consistently providing this benefit to certain eligible clients.
No judge of the 9th Circuit has requested a vote on a petition for rehearing Dorman vs. Charles Schwab, in which a three-judge panel held ERISA claims may in some cases be forced into arbitration.
The Securities and Exchange Commission’s (SEC)’s Office of Compliance Inspections and Examinations found some concerns related to money market funds and target-date funds.
Comparing the “quality” of target-date funds is not a straightforward operation. One must decide how to prioritize performance, risk and many other factors when making a prudent investment decision.
Experts see more value for participants to move their money from one 401(k) to another 401(k) than from a 401(k) to an individual retirement account.
The Savings Preservation Working Group says that at least 33% and as many as 47% of plan participants withdraw part or all of their retirement savings when switching jobs.
MassMutual hires managing directors for DC retirement plans; Cohen & Steers appoints Sony Music VP to board of directors; FTJ Retirement Advisors partners with retirement planning marketplace company; and more.
Stadion Money Management launches custom managed account service; Hartford Funds presents interval fund; OpenInvest partners with LGIMA in ESG solutions; and more.
Plaintiffs challenge the use of proprietary products in Prudential’s defined contribution retirement plans, an arrangement they say impermissibly benefitted the company at the expense of plan performance.
The purpose of any such updates would be to increase the effectiveness of tax-favored retirement programs by allowing retirees to retain sufficient retirement savings in these programs for their later years, the IRS says.
Fee compression hit recordkeepers first, then asset managers. Advisers are next, experts agree, but they can learn some important lessons from their service provider partners.