Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 6th, 2021
Truist Sells 401(k) Recordkeeping, Advisory Businesses
Truist Financial’s 401(k) business has been acquired. Its institutional 401(k) investment advisory services business was sold to OneDigital Investment Advisors in a transaction that closed December 31. Truist has signed definitive agreements to sell its institutional 401(k) recordkeeping businesses to Ascensus and Empower Retirement in transactions scheduled to close in the first quarter of 2021. Read more >
2020 in Review: M&A Activity Continued Unabated
Apart from the influence of the coronavirus pandemic, few retirement plan adviser industry trends received more headlines this year than the pace of mergers and acquisitions. Read more >
Aquiline Capital Partners Takes Majority PE Stake in SageView
SageView’s newly announced private equity backing underscores the same pressures and opportunities that have been reshaping the retirement plan adviser industry for years. Read more >
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Scrutinizing TDFs and Considering Balanced Funds
Compass Financial Partners Acquired by Marsh & McLennan Agency
Compass Financial is the latest firm recognized in the PLANADVISER Top 100 listing to be acquired by a large, diversified financial services entity. Read more >
Market Mirror
Tuesday, the Dow was up 167.71 points (0.55%) at 30,391.60, the NASDAQ gained 120.51 points (0.95%) to finish at 12,818.96, and the S&P 500 increased 26.21 points (0.71%) to 3,726.86. The Russell 2000 climbed 33.19 points (1.71%) to 1,979.11, and the Wilshire 5000 closed 326.04 points (0.84%) higher at 39,218.13. The price of the 10-year Treasury note was down 3/32, increasing its yield to 0.951%. The price of the 30-year Treasury bond decreased 32/32, bringing its yield up to 1.700%.
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