PLANADVISER Weekend Newsdash
Week ending May 17th, 2019

Happy Friday, readers! Do you have clients concerned about stock market volatility? Speaking this week with PLANADVISER, Bob Browne, CIO at Northern Trust, said investors are always asking about the prospect of a recession when stock prices swing down. “What I tell them today is that, in our five-year outlook, we do foresee the potential for some slowing down of global growth. But let me be clear. Growth may moderate over the next five year period but we do not see a high likelihood of a recession.” Find more of his commentary below, along with articles on other client service issues.

Client Service
As Bull Market Ages, Coaching Investors on Volatility Remains a Must
Novice investors’ reactions to stock market volatility present an endless and intriguing field of study for behavioral economists, but for financial advisers, poor client decisionmaking is a serious issue. Read more >
Your Clients’ Cybersecurity Concerns
Retirement plan advisers can help plan sponsor clients know their providers are taking the right steps to protect participant data—without exposing information hackers can find. Read more >
Addressing Participant Longevity With Plan Design and Advice
Robert Scheinerman, president, AIG Retirement Services, says smart retirement plan design, access to advisers and passage of pending legislation can help Americans have enough money for a 40-year retirement. Read more >
DOL Opinion Letter on Gig Workers Puts Retirement Savings Onus on Them
Experts say gig workers have little access to workplace retirement savings plans and the opinion letter will only discourage employers from offering them such plans, but they do have other options that advisers can educate them about. Read more >
Parents and Kids Both Influence the Flow of ‘Modern Money’
Shifting attitudes about supporting adult children financially have helped reshape Americans’ thinking about wealth and retirement readiness, according to Ameriprise Financial survey data. Read more >
MOST POPULAR STORIES
Three New ERISA Lawsuits Bash Actively Managed TDFs

Three new lawsuits question the offering of actively managed target-date funds to retirement plan participants.

$300 Million Plan Faces ERISA Fiduciary Breach Lawsuit

The plan being challenged in the latest fiduciary breach lawsuit held less than $300 million as of the start of last year, making it one of the smallest to become the target of an ERISA complaint.

Attorneys Offer Closer Reading of DOL’s Open MEP RFI

Advisers and broker/dealers hoping to work with open multiple employer plans now have a short window to offer their perspectives to the Department of Labor and the Internal Revenue Service.

Another Lawsuit Challenges Use of Untested CITs in 401(k) Plan

A similar lawsuit was filed in May against an investment manager and a different plan sponsor.

DOL Aims to Quickly Simplify Conflict of Interest Framework

The main theme of the new fiduciary rule proposal is alignment with other regulators—the SEC and FINRA in particular—but the agency is by no means surrendering its jurisdiction over tax-qualified retirement plans.

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