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Weekday news and analysis for retirement plan advisers
Monday, January 09, 2023
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FTC’s Noncompete Ban Would Hit Retirement, RIA Consolidation
PA-010623-Noncompete-Clause-Ban-1370857859-web
A proposed ban on noncompete contracts by the FTC would likely have implications for the RIA firms some retirement advisories are acquiring to broaden wealth management capabilities.
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2023 Retirement Plan Adviser of the Year Nominations Are Open
We need your help recognizing the best advisers and adviser teams in the country. Nominations are now being accepted in six categories: Plan Sponsor Service; Plan Participant Service; Mentorship; Efforts in Diversity, Equity and Inclusion (DEI); Community Impact and Giving Back; and Closing the Coverage Gap. Self-nominations are not allowed, and nominations for the Plan Sponsor Service and Plan Participant Service categories can only come from plan sponsor clients. Nominations close January 15, so make your submission soon.
Today’s Most Read
1. Many Providers Are Prioritizing Participant Financial Advice in 2023
2. OneDigital Acquires $500M Florida Retirement and Wealth Management Shop
3. A Reminder to Avoid Fraudulent Hardship Withdrawals
Retirement Industry People Moves
Empower names Waddell head of new individual investor division that includes Personal Capital; Pentegra names new CEO as Pinto retires; Wiener to take over management of TIAA’s general account; and more.
After Committee Change, SECURE 2.0 Does Not Allow CITs in 403(b)s
The language required to allow CITs in 403(b) plans was dropped in the final bill after inter-committee negotiations.
Measure Your Footprint
How some plan advisers embrace sustainability in their practice.
Market Mirror Market Mirror Graph

Friday, the Dow gained 700.53 points (2.13%) to close at 33,630.61 the Nasdaq gained 264.05 points (2.56%) to close at 10,569.29 and the S&P 500 increased 86.98 points (2.28%) to close at 3,895.08. The Russell 2000 gained 39.61 points (2.26%) to close at 1,792.80 and the Wilshire 5000 gained 847.79 points (2.24%) to close at 38,630.47.  

For the week ending January 6, the Dow gained 1.46%, the Nasdaq increased 0.98% and the S&P 500 gained 1.45%. The Russell 2000 gained 1.79% and the Wilshire 5000 finished 1.46% higher. 

The price of the 10-year Treasury note increased 1 3/32, bringing the yield to 3.563%. The price of the 30-year Treasury bond increased 1 30/32, bringing the yield to 3.687%.  

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