July 23rd, 2020

SEC Proxy Voting Rules Are Quickly Criticized After Finalization Advocacy organizations representing the fiduciary advisory industry are smarting after the Securities and Exchange Commission finalized restrictive new proxy voting rules. Read more > IRS Updates Operational Compliance List With 2020 Items The list, updated with provisions of the SECURE Act, identifies matters that may involve either mandatory or discretionary plan amendments depending on the particular plan. Read more > 15th Anniversary of RPAY: Mike Goss and Fiduciary Investment Advisors Fiduciary Investment Advisors had $15 billion of assets under advisement and 25 employees when it won recognition as the PLANSPONSOR Retirement Plan Adviser Team of the Year in 2009. Today, it has 85 employees and $100 billion in assets, says Mike Goss, executive vice president and senior consultant. Read more > Despite COVID-19, Asset and Wealth Management Deals Surge Two deals, by Morgan Stanley and Franklin Templeton, stand out, according to PwC. Read more > MOST READ ARTICLES

Protection During Downturns Managed accounts and age-appropriate TDFs can each be attractive. Read more > Evaluating Reg BI Compliance Five takeaways from an SEC OCIE Risk Alert. Read more > Client Relationship Summary Form CRS must be delivered to a “retail investor.” There are two components to the definition of retail investor. Read more > Market Mirror Wednesday, the Dow gained 165.44 points (0.62%) to finish at 27,005.84, the NASDAQ closed 25.76 points (0.24%) higher at 10,706.13, and the S&P 500 increased 18.72 points (0.57%) to 3,276.02. The Russell 2000 was up 2.63 points (0.18%) at 1,490.14, and the Wilshire 5000 climbed 172.00 points (0.52%) to 33,444.84. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 0.596%. The price of the 30-year Treasury bond increased 4/32, bringing its yield down to 1.297%.

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