Principal Bolsters Retirement Division With Leadership Hires
Principal adds four industry leaders to support the growth of its U.S. retirement business.
News
Cogent: Advisers Should Lean Into 401(k) Cost-Cutting Conversations
A new Cogent report shows plan sponsors are more likely to direct heightened scrutiny, including cost-cutting, toward their retirement plans.
Advisory M&A
Hub International acquires Golden Corner Wealth Advisors; Marsh McLennan Agency adds Integrity HR Inc.; Day & Ennis joins Mercer Advisors;...
Wealth Management M&A Dips Slightly in Q2
The second quarter decline mimics similar drops in 2020 and 2022, even as the industry went on to strong dealmaking...
EBSA Publishes Regulatory Update on Health Facility Fees, Provider Networks
The FAQ says facility fees count toward out-of-pocket limits and price estimates, while maintaining a contractual relationship causes a provider...
Annuity Consultants Tout SPIAs as Best Income Option
Michelle Richter-Gordon and Mark Chamberlain are seeking adviser feedback on a digital guide touting the virtues of single premium immediate...
Federal Agencies Propose Plugging Short-Term Health Plan Workaround
The Biden administration has proposed limiting short-term health plans it calls ‘junk insurance’ to four months instead of one year.
FINRA Expels Brokerage Firm Monmouth for Violating Reg BI
Monmouth is the second firm to be expelled by FINRA for failing to supervise its representatives’ trading.
Supreme Court Accepts Case Challenging Legitimacy of SEC’s Adjudication System
The court has agreed to hear a case next session which could dramatically reduce the authority of in-house adjudication process...
Judge Rejects Proposed Class Certification in Remanded TIAA Retirement Plan Case
Given the appellate court’s ruling, the district court found no ‘single policy’ affecting all putative class participants from Washington University...
Retirement Industry People Moves
Segal appoints Tauzer to senior VP; Cerulli promotes O’Brien to director; Newton announces Brain as deputy CIO; and more.
Gen X, the First 401(k) Generation, Is Least Prepared for Retirement
Gen Xers entered the workforce as pensions were fading and 401(k) plans were ‘primitive.’ Now they are closest to retirement...
Principal Joins Portability Services Network
Consortium now has representation from the country’s five largest plan sponsors.
Investment Product and Service Launches
BlackRock Debuts First Buffer ETFs; SMArtX Adds 15 Investment Strategies; Fidelity Refiles Spot Bitcoin ETF Application.
Fake Silver Coin Scheme Penalized by CFTC
The companies involved were penalized over $100 million and its main organizer was arrested on June 10.
Cbiz Adds to Retirement Plan Capability With APA Acquisition
The financial and insurance advisory brings on Indianapolis-based American Pension Advisors, along with its 1,200 clients.
J.P. Morgan Fined $4M for Recordkeeping and Outsourcing Failures
The SEC penalty addressed recordkeeping issues including the early deletion of 47 million emails.
PEP Growth Slows as Startups Fold
An IRS clarification that expanded audits for PEPs may be a factor for some providers in leaving the market.
Adviser Product Partnerships
Crystal Capital teams with SS&C to ease alternative investment process; BridgeFT powers Yayati for more personalized investing applications; Nassau Financial...
Financial Advisers Feeling Starved of Time with Clients, J.D. Power Reports
Additionally, one in five advisers said they were less than five years away from retirement.