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April 8th, 2020 |
 | A Brave New Fiduciary WorldThe response of advisers to the coronavirus pandemic can provide a concrete illustration of how fiduciaries now function. While, as a legal matter, ERISA fiduciaries will continue to be measured by their processes, rather than their plan’s results, advisers who can produce measurable results and quantify their value in terms of participant outcomes and process are the leaders who will prosper in the Fiduciary 3.0 world.
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PCS and Envestnet Pair to Deliver Turnkey Plan Management |
Through the new ManagedPlan solution, the PCS Retirement recordkeeping platform will be fully integrated with Envestnet’s wealth management platform.
Read more > | | InvestorCOM Launches Reg BI Compliance Platform |
The SEC has confirmed that the COVID-19 pandemic will not halt the implementation of the SEC’s Regulation Best Interest, which has a general compliance date of June 30.
Read more > | | Transamerica Announces Coronavirus-Related Help for Clients |
The firm has established a dedicated team to support participants who are considering accessing their retirement savings to meet their short-term financial challenges related to the pandemic.
Read more > | | John Hancock Waives COVID-19-Related Retirement Plan Fees |
In addition to waiving fees related to participant hardship withdrawals, the firm is suspending fees for plan amendments made in response to the pandemic.
Read more > | | Market Mirror | Tuesday, the Dow decreased 26.13 points (0.12%) to 22,653.86, the NASDAQ lost 25.98 points (0.33%) to finish at 7,887.26, and the S&P 500 closed 4.27 points (0.16%) lower at 2,659.41. The Russell 2000 was virtually unchanged at 1,139.17, and the Wilshire 5000 was down 9.97 points (0.04%) at 26,522.11.
The price of the 10-year Treasury note was down 6/32, increasing its yield to 0.734%. The price of the 30-year Treasury bond decreased 31/32, bringing its yield up to 1.320%.
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