| Participants Sue Allianz Retirement Plans |
| A lawsuit seeking class action status suggests a total plan cost of 0.77% “is outrageously high for a defined contribution plan with over $500 million in assets,” suggesting the “average fee” for this segment is closer to 0.44%.
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| FINRA and SEC Approve New Broker Check Mandate |
| The SEC approved a proposal from FINRA to amend FINRA Rule 2210, such that a hyperlink to FINRA BrokerCheck must be prominently displayed on all brokers’ websites.
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| Disconnect Between Financial Perception and Reality |
| A majority of people surveyed say they are in control of their financial future, yet 30% say their level of debt is ruining their life.
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| Adding Mobile Apps to Your Practice |
| “We’re seeing a shift in the usage of mobile apps; it’s increasing across all demographics,” says Dave Gray, vice president of client experience at Charles Schwab. “We are seeing that younger folks, under age 35, and those with smaller account balances are engaging more with the mobile apps than with the website.”
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