Retirement Industry People Moves
QPA hires managed account services director; Lightyear selects new senior adviser; NFP Acquires FBG; and more.
News
Baptist Health South Florida Faces ERISA Excessive Fee Suit
The claims are typical of excessive fee suits, but the plaintiffs also cite language from the 403(b) plan's investment policy...
Snappy Kraken Launches ‘Convos’ Texting Service
The new solution puts instant text-based communications at an adviser’s fingertips through a desktop application.
A Timely Discussion With the CFP Board
Kim Hayes, who serves as a director for the CFP Board, talked with PLANADVISER about adviser industry turnover, the need to improve diversity and the opportunities afforded by...
Investment Product and Service Launches
Titan launches cryptocurrency portfolio; American Equity Investment Life Insurance introduces EstateShield index; Natixis Investment Managers combines businesses to single division;...
Complex Ruling Issued in Valeant Pharma-Linked ERISA Suit
The plaintiffs are employees and retirement plan participants at DST Systems who argue the defendants pursued ‘an exceptionally imprudent investment...
Antitrust Issues Scuttled Aon-WTW Combo. What Comes Next?
Regulators cited the elimination of competition in filing a civil lawsuit to halt the union of Aon and Willis Towers...
Schwab Retirement Plan Services Unveils Custom Financial Planning Tool
Participants receive personalized checklists and can check on their guide periodically to track progress against goals and update their information.
2nd Circuit Sends Elements of NYU ERISA Suit Back to District Court
The appellate court agreed with the plaintiffs that the lower court erred in dismissing share class-related claims and in denying...
Juniper Networks Is Latest ERISA Lawsuit Target
The claims included in the complaint, which in some respects directly contradict arguments made by other plaintiffs in related fiduciary...
We Nailed That RFP Response! (Didn’t We?)
Wouldn’t you love to be a fly on the wall at the plan sponsor defined contribution committee meeting where members...
Colonial Surety Launches Fiduciary, Cyber Liability Protection Package
The protection provides coverage for the costs of legal services, computer forensic services, public relations and crisis management expenses, and more.
Xerox Hit With ERISA Suit Alleging Excessive Fees
The complaint claims participants overpaid millions of dollars to Xerox’s recordkeeper from 2015 through 2021.
SeaWorld ERISA Lawsuit Seeks Sizable Damages
The text of the lawsuit notes the fast pace of the filing of excessive fee lawsuits against retirement plans operated...
Court Denies Dismissal of Amway ERISA Lawsuit
Among other allegations, the complaint says defendants continued to offer certain investment options despite the availability of identical or similar investment...
Retirement Industry People Moves
Mutual of Omaha retirement services hires internal wholesalers; Wells Fargo Advisors selects head of independent advisor group; Jennison Associates announces...
Parents Need Education About College Costs and Help Planning for It
A Fidelity Investments study found high school parents expect the annual cost of college to be far lower than what...
A Managed Account Q&A With LeafHouse and iJoin
The firms, which collaborated to launch a new adviser managed account solution, say the retirement plan industry has both the...
Investment Product and Service Launches
Hartford Funds builds ESG-focused ETF; MSCI acquires RCA; and Wilshire releases systematic cross premia index.
Advocates Applaud New Elder Justice Bill
The Elder Justice Reauthorization and Modernization Act of 2021 dedicates funding to programs to address vulnerable seniors’ needs, and its advocates say the financial services industry has a...