Advisory M&A News – 8/26/24
Rise Growth Partners Announces first strategic investment in Bleakley Financial Group; Sanctuary welcomes $400 million North Carolina-based TOVA Wealth; DFA...
News
Alight Names Dave Guilmette as CEO
The vice chair of the board will elevate to CEO so he can ‘hit the ground running,’ according to the...
Passive Products Widen Lead on Active in DC Managed Assets
Passively managed assets in defined contribution retirement plans have increased their market share three years in a row, according to...
Unpacking New Use of 529s to Invest in Roth IRAs
As many parents around the US bring their kids back to college campuses, attorneys unpack 2024 provisions that make 529...
Retirement Industry People Moves – 8/23/24
Cetera appoints Mackay president of Cetera Solutions; Vanguard announces Robinson as general counsel; OneDigital welcomes Grier as managing principal; and...
Mercer PEP and DC Group of Plans Hit Combined $3.6B AUM
The platform provides 401(k) benefits to more than 70,000 U.S. employees.
Insurers Collaborate to Digitize Retirement Income Annuities
The Insured Retirement Institute is leading the charge to improve the wait time for retail annuity sales and exchanges from...
State 401(k) Mandates May Cause ‘Crowd-In’ Effect, Boosting Private Plans
Small employers in states with mandates may gravitate toward private market plans for factors including plan design and the perceived...
Financial Uncertainty Pushes Americans to Rethink Retirement Plans
As retirement draws nearer for millions of Americans, concerns about post-retirement finances are rising.
Product & Service Launches – 8/23/24
Custodia Financial introduces retirement loan protection service to protect against defaults; Prudential enhances its employee well-being solutions; and Lincoln Financial...
Media’s Role in Creating Retirement, Investing Stress
A Capital Group national accounts manager makes the case that simply turning off the TV may help boost financial wellness.
SEC Charges Transfer Agent Equiniti Trust for Failing to Safeguard Clients From Cyber Attacks
The ruling shows the increased need to protect client data, as recordkeepers and others could face such fines due to...
Principal Promotes Strable to President, COO
The former CFO will take the president role from CEO and chairman of the board Dan Houston, who will maintain...
Federal Judge in Texas Puts Nationwide Block on FTC’s Noncompete Rule
The ban goes from preliminary to permanent in the latest ruling, but the FTC will likely appeal to the 5th Circuit.
The High Price of Discovery in ERISA Class Action
An ERISA consultant and expert witness in 401(k) litigation details how advisers can best prepare for potential class action suits.
Recordkeepers Ascensus, July Make Divisional Hires
Ascensus hires new nonqualified plan head from MassMutual; July hires national sales lead and promotes former sales director to lead...
Voya Tops $100B In Multiple Employer Assets
Announcement comes shortly after Voya bulked up its MEP sales team.
Commonwealth Gets $7M JPMorgan Funding for Low-Income Worker Program
The nonprofit will use the funds to launch an initiative to enhance access to workplace financial benefits to low- and moderate-...
Nordstrom Suit, HP Revival Add to 401(k) Forfeiture Cases
A Wagner Law Group attorney says plan sponsors should review their plan documents, as Nordstrom is the latest employer challenged...
Guideline Hits $15B in AUA on Philosophy of Simplicity, Low Fees
Co-founder and CEO Kevin Busque details the past and present of Guideline as he seeks to keep an early promise...