News
Adviser’s Noncompete Clause Upheld by Court
A federal court in Connecticut has prohibited David B. Austin from using any confidential client information originating from his former employer, AmWINS Group Inc., at his new...
Barclays Group Chief Executive to Step Down
Barclays PLC and Barclays Bank PLC announced that John Varley intends to step down as Group Chief Executive, and from the Barclays Boards and the Group Executive Committee,...
General Growth Settles Stock Drop Suit
General Growth Properties, the second-largest U.S. Mall owner, in the process of emerging from bankruptcy, has agreed to a $5.75-million settlement of a 401(k) stock-drop case.
PLANSPONSOR Searches for the Nation’s Best Retirement Plan Advisers
Today PLANSPONSOR opens its annual nomination process for its Retirement Plan Adviser and Adviser Team of the Year awards.
Satisfied at Work, Despite Retirement Worries
While the vast majority of American workers are satisfied with their jobs, nearly two thirds doubt they will ever be able to retire, according to a survey...
July Fund Inflows Pegged at $15.4 billion
Stock and bond funds experienced net inflows of $15.4 billion in July, according to the latest Financial Research Corporation (FRC) data.
N.J.-based Adviser Accused of Multi-Million Dollar Scam
The Securities and Exchange Commission (SEC) has charged Sandra Venetis, an investment adviser based in Branchburg, New Jersey, with misleading investors and using their money for personal use....
Court Dismisses FA Suit over Merrill WealthBuilder
Merrill Lynch’s WealthBuilder Plan did not violate the Employee Retirement Income Security Act (ERISA) because it was a top-hat plan, a federal judge ruled in throwing out a...
Financial Stress Calls Employees to Action
An analysis from Financial Finesse finds employees reported more financial stress in Q2 2010, but instead of retreating in fear, they were called to action.
BofA Accused of Gender Discrimination
Bank of America (BofA) was sued Thursday in Manhattan federal court by four female advisers and trainees; former employees of Merrill Lynch.
The Principal Finds Text Messages Inspire Retirement Savings
One year after launching a text messaging service for retirement plan participants, The Principal has released data indicating it has improved savings rates and asset allocation.
Comments Endorse Fee Disclosure Flexibility, Additional Compliance Time
A selection of the 44 comments received by the U.S. Department of Labor (DoL) about its pending fee-disclosure rule shows broad support for the rule’s intent, but continued...
Gallagher Makes Another Acquisition
Arthur J. Gallagher & Co. has acquired Old Greenwich Consulting Group based in New York, after acquiring Benefits Unlimited in early August.
Fidelity Introduces Free iPad App
Investors can download the application specifically designed for the Apple iPad, free of charge, on iTunes
Bonuses and Commissions Could Face Higher Taxes
The American Payroll Association (APA) issued a statement today to alert the public of the potential hit paychecks will take due to expiring tax cuts.
Court Finds Plan Trustee Could not Act on Knowledge of Breaches
A federal court in Illinois ruled that participants of the Antioch Company Employee Stock Ownership Plan are not barred from moving forward with their claim that company fiduciaries...
New CIO Joins SageView Team
Richard Palmer begins today as the Chief Investment Officer at the SageView Advisory Group based in Irvine, California.
Scout Picks Up Indiana Fixed-Income Shop
Scout Investment Advisors, a subsidiary of UMB Financial Corporation, has agreed to acquire Reams Asset Management Company, an investment management firm specializing in fixed-income products.
401(k) Participant at Fault in Account Withdrawal Dispute
A federal judge in Oklahoma has cleared a 401(k) plan administrator of wrongdoing in a dispute over whether the employer should be forced to repay the participant for...