DOL Announces Fiduciary Responsibilities Seminar in Chicago
Its “Getting It Right – Know Your Fiduciary Responsibilities” seminar will be held in Chicago, on July 10.
News
Settlement Preliminarily Approved in University of Chicago Excessive Fee Suit
According to the settlement agreement, the university has already made changes to the investment lineup for its 403(b) plans.
Millennials Better Prepared for Retirement than Their Parents
More than half have set specific retirement goals, J.D. Power learned in a survey
Data Scientists Play New Role in Financial Services Vertical
Speaking to attendees of the 2018 DataDisrupt conference in New York, Morningstar’s first chief data officer reflected on the recent creation of his role and what it says...
Asian Americans Could Use More Education About Retirement Planning
A MassMutual study finds Asian Americans are more thoughtful retirement investors than other demographics, but they lack education about how long they will need to make their savings...
Client Data: Powerful But Largely Untapped Asset
“Personal data can tell you so much more beyond just providing insights into individual client behaviors. You can take these streams of data, clean them up and extract...
SEC Lays Out Valuable Features of HSAs
Although an SEC bulletin is directed at employees invested in HSAs, its description of useful HSA features depending on how investors use HSAs can be informative to plan...
Advisers See Investor Reaction to Market Volatility as a Challenge
Besides providing investment advice, 88% of advisers think they need to guide clients through emotional decisions.
Older Americans Have Learned to Balance Income and Spending
A survey from the Society of Actuaries suggests that if retirees are able to survive financially to age 85, concerns about finances drop significantly.
Advisers Believe AI Will Create Competitive Advantage
They plan on using it to better understand clients’ needs.
Financial Services Firms Are Lagging on Data Technology
Firms have made strides in the previous decade in terms of adopting self-service, web-based solutions—but the existing “fixed decision tree” approach is not sufficient for the next evolution...
Fed Report Suggests More Investing and Financial Education Needed
Three-fifths of non-retirees with self-directed retirement savings accounts have little or no comfort managing their investments, and only one-fifth of adults answered five financial literacy questions correctly, according...
FINRA Seeking Comments on Churning Rules as SEC Considers Action
A new client alert published by the Wagner Law Group urges advisory firms to review and consider an update to anti-churning policies, now that FINRA and the SEC...
Skill in Fiduciary Discretion Discussions Brings Lots of Low-Hanging Fruit
Independent advisory shop founder Joe Gordon talks about winning new plan business from brokers and bank advisers who are “seriously fumbling the discussion with clients about fees and...
Retirement Readiness Measure Added to dailyVest’s Plan Health Tool
PlanAnalytics will now utilize retirement readiness data from GuidedChoice.
Plans With Complete Discontinuance of Contributions Treated As Terminated for Vesting Purposes
An IRS compliance project found some profit sharing, including 401(k), plan sponsors did not understand when a complete discontinuance of contributions occurs.
Employees Have Other Financial Issues That Get in the Way of Retirement Readiness
A PwC survey finds employees are struggling with debt and supporting adult children and aging parents, but also are not investing in their retirement plans properly or using...
Smart Beta Demand Favors Multi-Factor Approach
Data shared by FTSE Russell, taken from the firm’s annual smart beta survey, suggests the use of “multi-factor combination smart beta index-based investment strategies” by institutional investors has...
Multiemployer Pension Funding a Big Challenge for PBGC, Wider Economy
Multiemployer pension plan insolvencies will obviously be harmful to the participants and beneficiaries of the plans in question, but the loss of the significant economic momentum provided by retirees spending...
Plan Sponsors Must Be Given Deference in Lawsuits Challenging Ambiguous Plan Terms
A federal appeals court found a district court did not apply the correct standard of review in a case challenging the calculation of lump-sum payments from a defined...