News

JennisonDryden, the proprietary mutual fund family of Prudential Financial, Inc., has hired Joseph Gill as vice president of client management in its investment-only defined contribution (IODC) group.

Putnam Investments said it will make sweeping changes to the management fees on its retail mutual funds.

The Financial Industry Regulatory Authority (FINRA) said it has fined Merrill Lynch, Pierce, Fenner & Smith, Inc. and UBS, as well as some Merrill brokers, for supervisory failures...

The Securities and Exchange Commission (SEC) yesterday made permanent its temporary rule aimed to curb abuses of short-selling.

SunGard has teamed up with iShares to launch a solution to help advisers and third-party administrators (TPAs) incorporate exchange-traded funds (ETFs) as standard options in defined contribution plans.

An Albuquerque, New Mexico-based firm has launched an “Individual 401k (i401k)” for small-business owners looking for retirement plan options.  

A global survey commissioned by ING DIRECT found Americans are less likely than people in other nations to sacrifice cars and pets to save money.

Morningstar, Inc., has launched a nationwide directory of retirement plan service providers.

MassMutual announced it is continuing to develop its sales team with the addition of Francesca Messano as managing director covering southern California and Hawaii.

Starbucks announced to its U.S. employees that it will make the company discretionary match to the Future Roast 401(k) Savings Plan for the 2009 plan year.

Claymore Securities Inc. announced changes to the Claymore/Great Companies Large-Cap Growth Index ETF (NYSE Arca: XGC), including a reduction of the advisory fee.

RPG Consultants and PenChecks Inc. have announced an alliance which enables retirement plan sponsors to distribute assets on behalf of participants who cannot be located.

Kane County (Utah) Hospital employees whose 401(k) retirement plan accounts have been frozen by the Internal Revenue Service (IRS) are threatening to sue the hospital.

A measure allowing federal agencies to rehire retirees without a cut in annuity payments passed the U.S. Senate last week as part of the Defense Authorization bill.

As part of an ongoing investigation, the Financial Industry Regulatory Authority (FINRA) has permanently barred a former registered representative with AXA Advisors, LLC, for conducting a Ponzi scheme.

One of the most common—and consistent—inquiries I receive (via e-mail, anyway) is from readers looking for help in choosing a plan provider. 

As the sale of leveraged exchange-traded funds (ETFs) comes under scrutiny from regulators, Edward Jones & Co. is nixing the sale of the products.

ETF Securities Ltd (ETFS), a provider of exchange-traded products on the London Stock Exchange, has launched its first U.S. product.

MassMutual's Retirement Services Division has announced Daniel Darby joined its field sales team as a managing director.

se2 (service.end2end), a provider of business technology and processing solutions for the financial services and retirement planning sector, has updated its automated 403(b) info-sharing solution.