Fidelity Says Participant Balances Gained Good Ground in 2009
Fidelity Investments' 401(k) highlights from 2009 showed that many participants recouped much of their losses from 2008.
News
Hartford Agrees to $13.8M Revenue-Sharing Case Settlement
The Hartford Life Insurance Co. will pay $13.8 million to settle a four-year-old fiduciary breach suit over revenue-sharing payments from mutual fund companies.
Participants Paying More Attention to DB Plans
Mercer's outsourcing business saw a 40% increase in participant requests for calculations of their estimated defined benefit (DB) account values in 2009 versus 2008.
Connecticut Resort Suspends 401(k) Match
Foxwoods Resort Casino is suspending its 401(k) match for hourly employees to help offset a 2.5% salary hike for nonunion workers, according to a media report.
FINRA Proposes More BrokerCheck Expansions
The Financial Industry Regulatory Authority (FINRA) said it wants to make available more public complaints and other information through the BrokerCheck service.
Self-Directed Investors Drive ETF Popularity
A study by Cogent Research confirmed that most affluent investors aren’t using advisers to purchase exchange-traded funds (ETFs).
AB Adds Volatility Management to Target-Date Offerings
AllianceBernstein is taking steps to smooth out the bumps in the road for its target-date fund family.
McDaniel to Spearhead Key Partnerships at Clark Consulting
W. Garrett McDaniel Jr., a senior-level financial services and executive benefits marketer, has joined Clark Consulting, LLC, to help spearhead the company’s outreach initiatives through select third party...
Blue Prairie Group Unveils New Consulting Report
Blue Prairie Group is launching its proprietary Fiduciary-based Investment Consulting report.
Plan Sponsor Sentenced for 401(k) Theft
A plan sponsor charged with stealing from her company’s 401(k) plan has been sentenced to more than two years in prison.
Guggenheim to Acquire Security Benefit
Guggenheim Partners, LLC, has worked out a deal to acquire Topeka, Kansas-based retirement services provider Security Benefit Corporation.
Hayes Tapped for NRS Sales Head
Nationwide Financial Services, Inc., has turned to Cain Hayes as senior vice president and chief sales officer for Nationwide Retirement Solutions (NRS), the company announced.
Newkirk Releases Retirement Readiness Package
Albany, New York-based Newkirk, a retirement plan communications provider, has unveiled a suite of retirement readiness communications and reports.
Invesco Launches DC Site
Invesco has launched a Web site featuring educational resources to meet the needs of U.S. defined contribution plan sponsors, consultants, recordkeepers, and advisers.
The Hartford Launches Plan Sponsor Search Engine for Advisers
The Hartford Financial Services Group has launched a new search engine, which it said is designed to help financial advisers target potential sponsor clients.
Shay Gets New Job at Securian
Bruce Shay, a Securian Financial Group senior vice president in charge of the company’s retirement business, has been promoted to executive vice president by the firm’s board of...
PlanTools Unveils CRC Offering
Charlotte, North Carolina-based PlanTools has released the Client Resource Center (CRC) as part of its Risk Management System.
Carroll Gets John Hancock Promotion
Robert L. Carroll has been promoted to divisional vice president, Eastern Division, of John Hancock Retirement Plan Services (RPS).
Broker Held Accountable for Sister's Investment Losses
A woman who sued her stockbroker brother won $608,000 under the decision a Financial Industry Regulatory Authority (FINRA) arbitration panel.
Independent Advisers Want to Make Business Changes
More than half of independent advisers said their clients have modified their expectations of retirement lifestyle or plan to delay retirement, according to a survey by Curian Capital,...