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Weekday news and analysis for retirement plan advisers
Monday, July 19, 2021
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Compliance
Dissecting TIAA Subsidiary's $97 Million SEC Rollover Settlement
A subsidiary of TIAA will settle conflict of interest charges related to the provision of rollover advice to employer-sponsored retirement plan participants; the development offers up some important considerations for financial services professionals.
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Retirement Industry People Moves
Advisor Group selects business development VP; Principal announces new chief information officer of retirement and income solutions; Cobbs Allen expands into 401(k) business with new hire; and more.
Today’s Most Read
1. With Prudential Acquisition, Empower Aims for Growth Up to 3x Faster Than Other Recordkeepers
2. Empower to Acquire Full-Service Retirement Business of Prudential
3. ProNvest Launches Fintech Platform
Investment Product and Service Launches
Northern Trust announces latest digital document capture feature; Adaptive Investments partners with WealthShield to manage portfolios; and Equitable adds managed accounts and cash balance plan to solutions for small businesses.
Expect More ESG Investment Options Next Year
The move by the Thrift Savings Plan to add sustainable funds into its lineup next summer will likely cause private companies to follow suit, experts say.
Advisers Confront Risk
Longevity risk and inflation are the ‘biggest challenges.’
An Age-Old Problem
Advisers often disregard life expectancy when designing financial plans.
Market Mirror Market Mirror Graph
Friday, the Dow lost 299.17 points (0.86%) to finish at 34,687.85, the Nasdaq closed 115.90 points (0.80%) lower at 14,427.24, and the S&P 500 decreased 32.87 points (0.75%) to 4,327.16. The Russell 2000 was down 27.06 points (1.24%) at 2,163.24, and the Wilshire 5000 fell 327.31 points (0.72%) to 44,920.17.

The price of the 10-year Treasury note was virtually unchanged, with its yield down to 1.295%. The price of the 30-year Treasury bond was down 1/32, increasing its yield to 1.922%.

For the week ending July 16, the Dow was down 0.52%, the Nasdaq lost 1.87%, and the S&P 500 decreased 0.97%. The Russell 2000 fell 5.12%, and the Wilshire 5000 finished 1.67% lower.

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