Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
April 12th, 2019
Plan Sponsors Affected by Severe Storms Get ERISA Compliance Relief
The Department says it recognizes that severe storms may impede efforts by plan fiduciaries in Nebraska, Iowa and Alabama to comply with the Employee Retirement Income Security Act (ERISA) over the next few months. Read more >
M&A Action Bringing Private Wealth, Retirement Closer Together
Aggregation firms are eagerly building business models that can support advisers working with both private wealth management and institutional clients. They say that serving retirement plans and private individuals does not mean a firm will be aggressively soliciting rollovers or engaging in other potentially problematic cross-selling barred by ERISA. Read more >
Investors Working with Advisers Want a Collaborative Relationship
They want advisers to handle their investments but also to consult on their decisions. Read more >
Prudential Ramps Up Financial Wellness Offerings
Among other new capabilities, Prudential is expanding its financial wellness engagement solutions to include a financial coaching service, available via phone and one-way screen share. Read more >
Franklin Templeton to Acquire Putnam for $925 Million
Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
Smart Acquires Managed Account Provider ProManage
Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say
FINRA Fines Vanguard for Overstating Money Market Projections
MassMutual PRT Annuitants Offered Enhanced Website
The company has improved navigation, provided more self-service features and information, and offered mobile access. Read more >
Fidelity Launches Benefits Package Catered to Small and Midsized Businesses
Named Fidelity Works, the package will also be available to third parties working with these employers, including advisers, employee benefits brokers, banks and certified public accountants (CPAs). Read more >
Market Mirror
Thursday, the Dow was down 14.11 points (0.05%) at 26,143.05, the NASDAQ closed 16.89 points (0.21%) lower at 7,947.36, and the S&P 500 was virtually unchanged at 2,888.32. The Russell 2000 decreased 2.41 points (0.15%) to 1,579.14, and the Wilshire 5000 was up 5.28 points (0.02%) at 29,866.05. The price of the 10-year Treasury note was down 7/32, increasing its yield to 2.494%. The price of the 30-year Treasury bond decreased 22/32, bringing its yield up to 2.929%.
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