Edelman Financial Names Former Personal Capital Head Jay Shah as CEO
Current CEO Larry Raffone will become chairman of the board while remaining a meaningful shareholder.
News
Retirement Income Today: How Advisers Can Leverage GLWBs
In-plan annuity products are proliferating, but if advisers want an option today, they should know about the guaranteed lifetime withdrawal...
The Good Old Days: Was the Pension Era Really as Good as Its Reputation?
Experts point out the flaws in the often lauded 'pension past,' while discussing the benefits and potential of the 401(k)...
The ‘Other’ Retirement Income? Pair Passion With Part-Time Work, Experts Say
The stark reality for many Americans is that Social Security and savings may not be enough to meet their retirement...
Franklin Templeton to Acquire Putnam for $925 Million
The deal would boost Franklin’s defined contribution asset management to $90 billion in AUM, while Great-West, parent of Empower, will...
Smart Acquires Managed Account Provider ProManage
Following Smart’s recent $95 million Series E funding round, the acquisition takes Smart’s global assets under management total to more...
Democrats Trade Budget Cuts for Debt Ceiling Extension
The House is scheduled to vote on the proposal Wednesday before passing it to the Senate.
Advisor Group Issues Alert for 2021 Vendor Data Breach Affecting Clients
Personal information exfiltrated from RRD’s corporate data system included users’ names, addresses and Social Security numbers.
MassMutual Names New Financial Advisory, Annuity Leaders
Mike Fanning, who oversaw the firm’s sale of its retirement recordkeeping division to Empower, is set to retire.
Advisory M&A
Ameriprise Financial welcomes team of female advisers; Concurrent launches RIA; Merit Financial acquires Planned Futures; and more.
FINRA Fines Vanguard for Overstating Money Market Projections
A ‘technical’ issue led to overstated projections of yield and income for nine money market funds for about 8.5 million...
Gensler Defends Swing Pricing Proposal at ICI Conference
Managers who asked the Fed for help during the pandemic but who oppose swing pricing should “look in the mirror,”...
Court Dismisses O’Reilly Auto Excessive Fee Lawsuit
A district court judge dismissed a case brought by six former employees claiming the auto parts company allowed 401(k) participants to...
Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say
Proprietary recordkeeper fund options can be worth the fee reduction in investment plans, but they must be looked at carefully,...
Retirement Industry People Moves
Cambridge Associates names Davidson president, head of investing; retirement consultant Mischell joins Agilis as managing director; ACA Group appoints Olson...