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Weekday news and analysis for retirement plan advisers
Thursday, August 24, 2023
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Data & Research
Few Americans Report ‘Financial Freedom’ Amid Record High Credit Card Debt
PA-082223-Credit-Card-Debt-1470656745-web
Research from Achieve suggests Americans are struggling to make ends meet, but separate research from WalletHub notes inflation is masking relatively strong debt management.
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Compliance
SEC Reopens Comment Period for RIA Investment Custody Rule
The regulator also announced a new proposal to increase transparency and disclosures for private fund managers such as private equity and hedge funds.
Today’s Most Read
1. Fidelity Data Breach Exposed Info of 77,000 Clients
2. Who Is Most at Risk for Retirement Savings Shortfall?
3. 401(k) Traders Shifting to Fixed Income
Why Short-Term Financial Stress Hurts Long-Term Savings
A T. Rowe Price retirement expert finds participants who take multiple short-term loans end up with less retirement savings—furthering the case for emergency savings.
Pontera Adds RIA Summit Financial to 401(k) Management Platform
Another financial investment advisory can now bring clients’ “held-away” retirement saving accounts under management.
Goldman Looks to Shed RIA Arm, Will Continue Third-Party Custody Push
While the firm is looking to divest the results of its 2019 acquisition of United Capital, it will continue to push into third-party asset management and custody businesses.
Market Mirror Market Mirror Graph

Wednesday, the Dow rose 184.15 points (0.54%) to close at 34,472.98, the Nasdaq rose 215.16 points (1.59%) to close at 13,721.03 and the S&P 500 rose 48.46 points (1.10%) to close at 4.436.01. The Russell 2000 rose 19.20 points (1.04%) to close at 1,870.03, and the FT Wilshire 5000 Index rose 492.11 points (1.11%) to close at 44,709.30.

The 10-year Treasury note rose 1 1/32, bringing the yield to 4.194%. The 30-year Treasury bond increased 2 1/32, bringing the yield to 4.272%.

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