As the implementation date for the Department of Labor (DOL)’s Conflict of Interest rule approaches, Capital One Investing will be moving away from commission-based products within its retirement-account services.
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With the passage of the SECURE Act by the House of Representatives, experts tell PLANADVISER they are optimistic that agreement will be reached with the Senate during this Congress, but the many supporters of retirement reform will have to wait and see how compromise might be reached.
MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a month for life.
One retirement industry executive says she believes the Senate could act quite quickly in taking up the SECURE Act, which just passed the House of Representatives with a practically unanimous yea vote.
Retirement plan advisers with established 401(k) businesses are finding new revenue streams and client engagement opportunities among nonprofits and educational institutions, and in the area of estate planning.