It’s fair to say that the final fiduciary rule from the Department of Labor has stirred up a lot of emotion among retirement plan advisers and service providers, both positive and negative. In that sense the events of the past week present advisers with an opportunity to think about the pivotal role emotion can plan in client decisionmaking—and not just during the downturns. Collected below are some of PLANADVISER’s recent stories on the impact of emotion on financial services.
An analytical approach to financial wellness is helpful for some retirement plan participants, but “it’s often emotion that puts retirement money in motion.”
Read more >
Three-quarters of wealthy families fail to discuss money and inheritance in ways that avoid misunderstandings and unintended consequences, according to a survey from Merrill Lynch’s Private Banking and Investment Group.
Read more >
Parents are worried about their independence as they age; kids are worried about their aging parents’ quality of life; parents are worried about their kids’ health and finances; and around it goes.
Read more >
Americans may be increasingly eager to save according to some measures, but that doesn’t mean they’re excited about earmarking dollars for retirement, or that people are widely committed to the long-term side of savings.
Read more >
A new lawsuit suggests the individual advisory program TIAA clients were rolled into was significantly more expensive and generated hundreds of millions of dollars in fees for TIAA—without providing commensurate performance benefits.
Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them will inevitably lead to better long-term risk-adjusted returns.
The important federal benefit increases when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers, or the ‘CPI-W.’
Arguments in the new case closely resemble previous lawsuits filed against other firms citing the ERISA fiduciary duties of prudence and of monitoring fiduciaries.
Impax appoints Ed Farrington as head of distribution for North America; Prudential forms new Prudential Retirement Strategies business; Northern Trust appoints Gary Paulin as head of global strategic solutions; and more.
