Judge Dismisses Case Regarding 12(b)-1 Fees
A judge this week dismissed a case alleging that because brokers are being paid for investment advice by 12(b)-1 fees, they should also be registered as investment advisers.
News
Nonprofit Weighs in on Electronic Disclosure Debate
The Pension Rights Center, a nonprofit consumer rights organization, believes that current safe harbor rules balance the interests of participants and beneficiaries, and the interests of efficient plan...
Solis Continues Effort in McCravy Case
Secretary of Labor Hilda Solis filed an amicus brief with the U.S. Court of Appeals for the Fourth Circuit asking for a rehearing and reversal in the McCravy...
DST Introduces Retirement Income Solution
DST Retirement Solutions has hired Ian Sheridan as division vice president to implement its new Retirement Income Information Clearing & Calculation (RICC) offering.
Brambley Moves to PEI
Trisha Brambley has joined New Jersey-based Portfolio Evaluations, Inc. (PEI).
Wells Fargo to Pay $32M in Adviser Gender Bias Suit
A federal judge is likely to approve a $32 million settlement against Wells Fargo & Co. in a suit brought by female financial advisers who claim they were...
Wilshire and Lord Abbett Launch Joint Income Solutions
Lord, Abbett & Co. and Wilshire Associates announced the joint release of Pro Active Income Solutions, portfolios designed to deliver targeted income through an active overlay.
Allianz Makes Final Hires for Fee-Based Distribution Team
Roberta Eckert and Michael Agan are the newest Wealth Management Consultants on the Fee-Based Distribution team for Allianz Life.
Morningstar Introduces Analyst-Driven Ratings
Morningstar, Inc. announced plans for a global fund ratings system and a uniform approach for global fund research reports.
Mutual of Omaha Forms Alliance with Triad Advisors
Mutual of Omaha Retirement Plans Division announced a strategic alliance with Triad Advisors Inc. to help support the sale of its retirement plan solutions.
MetLife Expands Financial Education Offering
MetLife is expanding its workplace financial and retirement educational programs with a series of workshops covering an array of financial topics, known as PlanSmart.
Aperio Group Releases Catholic Advocacy Portfolio
Financial advisory firm Aperio Group LLC has partnered with Aquinas Associates to develop a portfolio that adheres to the U.S. Conference of Catholic Bishops’ (USCCB) socially responsive investing...
Fiduciary Benchmarks Offering Services to UBS Advisers
Advisers in the DC Advisory program at UBS Financial Services Inc. will receive fee benchmarking services from Fiduciary Benchmarks, in partnership with BlackRock.
"Impending Collapse" not Necessary to Rebut Presumption of Prudence
In an amicus brief filed on behalf of plaintiffs in Taylor v. KeyCorp, Secretary of Labor Hilda L. Solis explains her opinion.
Principal Creates Web Site about Preferred Securities
Principal Funds is launching the Web site Preferredsecurities.com as a place for advisers to learn about the potential of investing with preferred securities.