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Weekday news and analysis for retirement plan advisers
Wednesday, July 21, 2021
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PRACTICE MANAGEMENT
Talking Scale With Voya, Sterling Resources Leaders
Over the past decade, the universe of retirement plan recordkeepers has contracted from about 400 to approximately 150, with no signs of slowing. Experts say one lesson learned in this time is that not all scale is created equal.
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Empower to Acquire Full-Service Retirement Business of Prudential
Empower will acquire Prudential’s DC, DB, non-qualified and rollover IRA business, in addition to its stable value and separate account investment products and platforms.
Today’s Most Read
1. With Prudential Acquisition, Empower Aims for Growth Up to 3x Faster Than Other Recordkeepers
2. Dissecting TIAA Subsidiary’s $97 Million SEC Rollover Settlement
3. Empower to Acquire Full-Service Retirement Business of Prudential
IRS Updates Employee Plans Compliance Resolution System
The agency has added two correction methods for overpayments by DB plans and expand the ability to correct an operational failure by plan amendment, among other things.
Natixis Studies Investment Outlooks for 2021
Investment experts said changes in supply and labor, rising wages and housing prices are key trends to keep watching, along with ESG investing and cryptocurrency.
A Few Key Lessons to Learn From Wealth Managers
Guidance about investing and the accumulation of assets is only the beginning of genuine financial planning—a fact that has already been embraced by forward-thinking wealth managers.
Market Mirror Market Mirror Graph

Tuesday, the Dow gained 549.95 points (1.62%) to finish at 34,511.99, the Nasdaq closed 223.89 points (1.57%) higher at 14,498.88, and the S&P 500 increased 64.57 points (1.52%) to 4,323.06. The Russell 2000 gained 63.62 points (2.99%) to close at 2,194.30, and the Wilshire 5000 climbed 772.99 points (1.75%) to 45,044.93.

The price of the 10-year Treasury note was down 3/32, increasing its yield to 1.223%. The price of the 30-year Treasury bond fell 1 4/32, bringing its yield up to 1.883%.

Industry Intel Roundup
Featured White Paper
PLANADVISER is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring white papers offering key insights and analysis about the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance.
Sponsored by Invesco
Demystifying the Language of Retirement
Find out what terms and explanations click with DC plan participants.
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