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Weekday news and analysis for retirement plan advisers
Wednesday, August 09, 2023
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Compliance
New 401(k) Litigators Use ‘More Credible’ Tactics in First Half of ‘23
PA-080423-Litigation-Update-658827058-web
Euclid Fiduciary’s mid-year litigation report finds fewer filings, as plaintiff law firms catch up on ’22, but new entrants using more accurate fee and service benchmarking.
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Compliance
SEC Charges Wells, BNP, Others With Electronic Communications Misuse
11 Wall Street firms admit wrongdoing and agree to pay $289 million in fees for improperly using messaging systems like WhatsApp for business.
Today’s Most Read
1. Infosys Breach From 2023 Exposed Personal Data of 6 Million People
2. Voya to Acquire OneAmerica’s Retirement Plan Business
3. How Recordkeepers Can Stay Competitive
BofA: Hardship Withdrawals Up 36% As More Prioritize Short-Term Needs
Distributions were down and hardship withdrawals were up, though overall saving rates remained steady, according to the bank’s latest participant research.
SECURE 2.0 Insecurities
3 experts cite clients’ biggest concerns about the new retirement act.
2023 PA Practice Progress Webinar Series: Team Building
Assembling the right team and ensuring each member has a path to grow is essential to boosting an advisory firm’s success. Join PLANADVISER’s third iteration of its 2023 Practice Progress webinar series on August 17 to learn the value of mentorship programs and how to establish one, optimal practices for developing diverse teams and how to define success for an advisory team and its members. 
Market Mirror Market Mirror Graph

The Dow fell 158.64 points (0.45%) to close at 35,314.49, the Nasdaq fell 110.07 points (0.79%) to close at 13,884.32 and the S&P 500 fell 19.06 points (0.42%) to close at 4,499.38. The Russell 2000 lost 11.52 points (0.59%) to close at 1,947.42, and the FT Wilshire 5000 lost 214.84 points (0.47%) to close at 45,462.27.

The price of the 10-year Treasury note decreased 2/32, bringing the yield to 4.211%. The price of the 30-year Treasury bond decreased 2/32, bringing the yield to 4.211%.

Industry Intel Roundup Featured Webinars
PLANADVISER is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by or featuring experts in the industry. The content was created to supply actionable insights to retirement plan advisers regarding client service and practice management.
September 24, 2024
DCIO and Investment Menu Survey
They say the devil is in the details. That’s particularly true when it comes to the investment menu and its results to participants for years—sometimes decades—of their lives. This PLANADVISER webinar will consider 2024 trends in DCIO offerings and best practices for the modern-day plan adviser.
December 18, 2024
Year in Review
Join PLANADVISER to hear from some of the top advisers of 2024 about the year that was. What did these advisers do that worked well? What projects fell on their face? What learnings will they take into the year ahead? Join us with your questions—and anecdotes—from a year in plan advising.
March 21, 2024
SECURE 2.0 Now
SECURE 2.0 is a little more than 1 year old, but many of its mandates and provisions just started this year. This PLANADVISER webinar will cover how SECURE 2.0 provisions are progressing in 2024 and any hiccups or concerns being seen by plan advisers and their clients.
February 8, 2024
Retirement and Wealth Convergence
T. Rowe Price found that, in just a few years, all large retirement plan advisers have added wealth management divisions. But what are the strategic goals of the retirement and wealth convergence? Are there measurable results? Should the industry be concerned about conflicts of interest? Hear from industry experts in this PLANADVISER webinar.
November 16, 2023
2023 PA Practice Progress Webinar Series: Participants
What do participants want from retirement plan advisers? How can advisers best meet their needs? As retirement plan advisers work more closely with participants and perhaps add wealth management to their practices, what do they need to keep in mind to fulfill their fiduciary duties? These questions and more will be answered in the final webinar in PLANADVISER’s Practice Progress series for 2023.
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