SEC Charges Cetera with Defrauding Advisory Clients
The Commission says the broker/dealer charged clients 12b-1 fees when they qualified for lower-cost shares.
News
State-Run Auto-IRAs Will Help Close the Coverage Gap
Sources view state-run retirement savings plans as useful for improving retirement readiness, as well as a potential business opportunity for...
Investment Product and Service Launches
RIA education organization rebrands; USCF adds nultiple ETPs to TD Ameritrade platform; Transamerica alters subadvisers, fees for Large Growth Fund;...
BrightPlan Releases Personal Advice Platform
The tool also calculates its own financial wellness score for participants and employers.
Illustrative Stories Can Help With Understanding Retirement Income Choices
Whether by video or written text, researchers found a short story significantly improved test scores about annuities and Social Security claiming.
Plan Sponsors Calling on Advisers to Improve Participant Outcomes
“They are hiring advisers to understand how well their plan is functioning and how to improve it,” Jordan Burgess, with Fidelity Institutional Asset Management, tells PLANADVISER.
Appellate Court Finds Summary Judgment Was Hasty in Church Plan Challenge
A district court granted summary judgment to OSF Healthcare System, but the 7th Circuit found there are genuine issues of material law that warrant more discovery in the...
Another Provider’s TDFs Called Out in ERISA Lawsuit
The lawsuit accuses the retirement plan committee of CHS/Community Health Systems, Inc. Retirement Savings Plan and Principal defendants of imprudent management of the plan and its investments.
Interest Rate Risk a Growing Concern for Boomers
This should be a focus when looking at target-date funds (TDFs) often used as the default investment in employer-sponsored defined contribution (DC) plans.
Recordkeeper Websites Need Updating: Corporate Insight
Specifically, they should offer intuitive plan health dashboards, the research company says.
Defaults Play a Big Role in Savings Outcomes
They impact participation, contributions and asset allocation, according to a research paper supported by a grant from the Social Security Administration.
IRS Adds Year to Closed DB Plan Nondiscrimination Relief
The IRS still anticipates issuing final regulations on closed DB plan nondiscrimination rules.
Case Draws Difference Between 409A Claims Against Different NQDC Plan Designs
Claims for non-ERISA NQDC plans may be brought under state-contract law, but a federal appeals court found Safelite's plan was an ERISA plan, so state-law claims were preempted.
The Path Ahead for Small Firms and Independent RIAs
Just 5% of RIA firms advise on $1 billion or more in assets, but they service more than 60% of...
Retirement Industry People Moves
BPAS names employees to sales roles; Texan Wealth Management firm joins CAPTRUST; Voya Retirement announces regional VP hires; and more.
Considering Auto Portability Rather Than Small Plan Cashouts
Considering automatically rolling balances from one plan to another for participants who terminate employment with small balances plan sponsors are allowed to cashout, EBRI found additional accumulations over...
Fiduciary Benchmarks Launches Business Management Dashboard
It is an open architecture platform where advisers can bring together all of their data and tools to manage client and prospect workflows.
Transamerica Fails to Get ERISA Suit Dismissed
Among other things, a federal judge found Transamerica Asset Management’s substitution of its sub-advisers is not a concrete, obvious explanation for the poor performance of the challenged funds.
Investment Product and Service Launches
Ascensus partners with NextCapital for investment and fiduciary solutions, and Axioma releases Canadian risk model to suite of funds.
SEC Shakes Up the Proxy Voting Landscape
The Investment Adviser Association says the SEC’s proxy voting guidance will increase costs for advisers and also increase barriers to entry for proxy advisory firms.